Secpoint supports financial institutions with insourcing of their back office activities with securities processing. In addition, Secpoint processes the participant administration of PPI’s, insurers, Defined Contribution and Defined Benefit-schemes. Through efficient and centralized processing of retail securities transactions and participant administration, Secpoint creates economies of scale and economies of scope for the European securities industry.
03 Sep 2013
- Secpoint provides an efficient solution for outsourcing back office activities of European banks and other financial institutions
- Efficient and centralised processing of retail securities transactions by European securities processing platform, starting in the Netherlands
- Bundling of processing activities lead to cost savings through economies of scale and economies of scope
- In addition, Secpoint processes the participant administration of PPI’s, insurers, Defined Contribution and Defined Benefit-schemes
The European securities processing platform is based on the existing platform of dwpbank in Germany. On this platform 5.5 million individual accounts of 1500 financial institutions are managed and administered, with EUR 1,770 billion assets under technical management.
Secpoint N.V. is a 50/50 joint venture of KAS BANK and dwpbank and is based in Amsterdam. In August 2012 KAS BANK and dwpbank signed the agreement to create a joint European retail securities processing platform. Secpoint combines the expertise of both banks through a robust and state-of-the-art platform for securities processing. By the bundling of activities on a centralised platform operational risks of financial institutions are mitigated and minimized. Moreover, the platform absorbs all regulatory changes, both European and local.
“Secpoint is the logical step for an efficient process” “The idea behind Secpoint is as simple as its promise”,’ states Ron Stommel, Director of Secpoint. “Banks and other financial institutions across Europe are facing high costs and operational risks to meet the implementation of new European rules and regulations in their processing systems. These costs and risks can be reduced if banks outsource their back office operations to Secpoint, a neutral, non-competitive and independent organisation. The more European banks and other financial institutions use our platform for the processing of their securities transactions, the lower the cost of this commodity will be”.
“We believe in the potential and growth of Secpoint”, says Peer Hannig, Sales Director of dwpbank. “dwpbank has proven track record in Germany with processing securities on a central platform. By bundling of transaction volumes we will meet the needs of the Dutch financial industry. Through the focus of Secpoint on securities processing, they can continue to focus on their core business and its clients”.