TrustQuay, one of the leading providers of software to the Trust & Corporate Services Provider (TCSP) market, has today announced the launch of TrustQuay Online. TrustQuay Online is heralded as the first complete end to end cloud-native SaaS (Software-as-a-Service) platform for corporate services and trust administration providers. TrustQuay Online is a fully digital entity management, client accounting, general ledger and practice management SaaS platform, enabling providers to meet their corporate and private wealth clients’ regulatory requirements as well as manage their own business in a simple to use, highly automated way at a significantly reduced total cost of ownership.
Available on demand 24/7 from any device with a browser and internet connection, TrustQuay Online requires no need to purchase and manage infrastructure, install or upgrade pre-requisite or specialist software components. Leveraging industry best practice based on TrustQuay’s 20+ years of experience with out of the box core configuration and sample data, it reduces the complexity, cost and risk of migrating data from legacy sources, and ongoing operational system usage. In addition, TrustQuay Online reduces both cybersecurity and platform availability risks by leveraging the highly secure and reliable infrastructure of Microsoft Dynamics 365 Business Central Online, in addition to being seamlessly interoperable with Office 365.
The total cost of ownership is significantly reduced compared to traditional on-premise or managed service software offerings, where infrastructure, installation, and upgrades are managed individually on a customer by customer basis. TrustQuay Online will therefore enable firms to deploy their sparse IT resources on more value-added initiatives such as automation and digital client engagement to increase margin and drive growth rather than ‘keeping-the-lights-on’ management of infrastructure and software updates.
Research by TrustQuay has found that the corporate services and trust administration sector lags way behind other areas of financial services, with firms currently ranking themselves just 5 out of 10 in terms of how far they have progressed on the digitalisation journey, but with 92% of the industry citing the need to accelerate innovation. TrustQuay Online will enable corporate services and trust administration providers to leapfrog ahead of competitors by leveraging digitalisation to create reduced cost and differentiation in the market.
“We are very excited about this game-changing launch. TrustQuay Online will enable corporate services and trust administration providers to significantly reduce complexity, reduce the total cost of ownership and reduce risks such as cybersecurity, as well as future proof their technology.Keith Hale, Executive Chairman of TrustQuay
“It offers a one-stop-shop solution that just needs a browser and internet connection, with no installation and no need to separately purchase or manage infrastructure and software.
This will enable providers to focus on managing their client’s and their own data for regulatory and operational purposes in an increasingly automated and digital basis, leveraging this new SaaS solution to increase margin and drive growth.”