In a bold move to fortify its market presence, Access Bank Plc has set a groundbreaking course by introducing custody services, providing its clientele with a fortress-like protection and management for their valuable financial assets.
The announcement was officially declared by the Managing Director of Access Bank, Roosevelt Ogbonna, through a statement released in Lagos on Tuesday.
Ogbonna emphasized that this strategic expansion into custody services followed the successful acquisition of regulatory approvals from the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) in the preceding December of 2022.
This newly introduced service, as Mr. Ogbonna noted, serves as a pivotal facet in the bank’s ongoing trajectory of growth and expansion.
He articulated that this venture perfectly aligns with the bank’s visionary goal of becoming the preeminent gateway to African markets.
Access Investor Services Nominee Limited, a nominee company, has been established to champion the safeguarding of customers’ assets, meticulously segregating them from the bank’s proprietary holdings.
This measure is undertaken with the utmost commitment to ensuring unwavering security and impervious protection.
Unveiling this milestone in the bank’s corporate and investment banking pursuits, Mr. Ogbonna remarked,”the introduction of custody services epitomizes a significant achievement in our mission to solidify our robust presence in the corporate and investment banking landscape.”
He further added, “We pledge our dedication to extending top-tier services to our corporate customers, including both bank and non-bank financial institutions, locally and internationally.
As we expand our client portfolio in this arena, we strive to emerge as the preferred ally for businesses seeking to access global markets through strategic alliances.”
Operationalizing this groundbreaking endeavor, Head of Access Investor Services (AIS), Bunmi Arowosafe, confirmed the commencement of customer onboarding for Access Investor Services.
Arowosafe elucidated that the bank had deployed a comprehensive and resilient custody and settlement application, engineered to ensure optimal straight-through processing (STP).
Elaborating on the enhanced customer experience, Arowosafe assured that clients would gain access to a secure communication conduit and comprehensive visibility into their holdings, alongside the ability to monitor instructions seamlessly.
Furthermore, the bank’s augmented Information Technology capabilities within its ecosystem are poised to elevate the efficacy of its custody services.
Highlighting the holistic range of custody services, Arowosafe underlined, “Access Investor Services now encompasses an array of securities processing, trade settlement, treasury and liquidity management, and multi-market services via subsidiaries and established collaborations.”
This groundbreaking expansion firmly positions Access Bank on its mission to furnish extraordinary financial solutions and unparalleled market access, both domestically and internationally.
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