HSBC and Morgan Stanley are participating on the initial scope and six-month design process to create a client onboarding solution with business process consulting and technology firm Genpact and enterprise data provider Markit.

HSBC and Morgan Stanley may be joined by about 10 other buy-side and sell-side firms who will work with Genpact, and Markit by providing subject matter experts and other informational resources to to create a product that will onboard clients more efficiently.

The product is being designed to handle the end-to-end process that banks go through annually in client onboarding, such as documenting any changes in investors, corporate action and renewals, according to Yasmeen Jaffer, director and co-head of Markit Counterparty Manager. Read full story on Wall Street & Technology

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