HashCash Consultants builds blockchain-powered Asset Management solutions for a Hong Kong-based investment company
US-based blockchain consultant company HashCash Consultants announces a partnership venture with a Hong Kong-based brokerage firm.
HashCash pronounces, blockchain implementation in a number of pragmatic ways within the wealth and asset management bracket. The highly flexible blockchain technology enables the client to ensure a seamless onboarding process. These distributed ledgers can streamline the management of model portfolios, hasten the clearing and settlement of trades while easing the compliance burdens concerning Anti-Money Laundering (AML) and Know Your Customer (KYC).
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“Distributed Ledger Technology or its subset, the blockchain technology, in its disruptive capacities can enhance the operations of investment management sector by many folds,” remarked Raj Chowdhury, Founder, and CEO, HashCash Consultants.
“The system is thus improved with reinforced portfolio management, clearinghouse functions, removal of redundancies and lowering of operational costs.”
Blockchain may also be implemented to reconcile information by adapting to the already existing systems and creating opportunities for new markets and products. It can be applied in transactions where assets are moved between parties or contracts are processed. These are typical of transactions involving rollovers, trusts, estates, and insurances. The distributed ledgers help validate and execute complex transactions in near real-time.
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- Blockchain applied in the asset management sector:
1. Can facilitate many key functions of onboarding
2. Client and risk profiling
3. Financial planning
4. Anti-money laundering checks and money movement
5. Can enhance or possibly replace traditional systems, such as ACH and ACAT
6. Enables near-instantaneous transfers of assets between financial institutions with authenticated provenance of tracked changes
The friction-less workflow assured by Blockchain technology improves the client experience by streamlining various processes. All this adding to the benefits of immutability, security, tamper-resistance native to the technology.
Open architecture, afforded by HashCash Consultants, pronounce the ability of a financial institution to offer its clients proprietary as well as external services and products. The perspective offers investment firms to overcome the conflict of interest or favoritism. Thus, allowing the firm to only recommend proprietary products.
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