Tocan is Apex’s proprietary digital investor onboarding platform that aims to "make the asset manager and investor experience seamless," according to Malickal. Conventional onboarding via extensive email exchanges can take up to four weeks to complete for a typical investor that is a legal entity. However, Tocan’s dynamic capabilities only present relevant questions and requirements based on an investor's legal form as a trust, corporate, or partnership. This highly streamlines the process, with Apex estimating onboarding lead-times could be halved through the platform's use.
In addition to speed, Tocan enhances the risk framework as it allows for "real-time screening and PEP checks" on investors during onboarding rather than after the applications are received. Perhaps most significantly, it retains documents and information allowing "an investor to re-use for the next application to a fund we administer." Data can be reused with consent, saving duplicative work. Periodic KYC refreshes are also facilitated through the platform.
Malickal noted Tocan "doesn't stop just at the onboarding phase" and cited its role in ongoing compliance. Indeed, centralised digital records promise easier regulation monitoring Apex's geographically diverse client base. When asked about addressing varied global compliance needs, Malickal explained platforms like Tocan undergo jurisdiction-specific "health checks" and testing before rollout. This ensures protection of investors as Apex's "core responsibility."
Tempo, meanwhile, serves as a secure collaboration portal for Apex and its fund manager clients. Beyond document sharing a la Dropbox, it includes document collaboration with version history controls, in-platform chat to enhance real-time communication with clients, integration of task management with legal and regulatory calendars and reporting real-time KPI dashboards. This moves interactions from periodic review meetings to a live view of performance. Apex is in the process of implementing the platform for all existing clients, and for new clients Tempo is made available on day one to effectively collaborate from the point of signing up.
Speaking to broader regional industry shifts, Malickal draws a connection between Apex’s presence in Abu Dhabi and growth in the emirate's private equity landscape. Multibillion-dollar sovereign funds and an attractive regulatory environment have fuelled interest, with Apex doubling its Abu Dhabi private equity team in just over a year. This positions the firm to capitalise on increasing flows to the region.
In summary, through innovative technology platforms, Apex is transforming traditionally paper-heavy processes in global financial administration. This levels up client services delivery while maintaining compliance. As the regional private equity ecosystem flourishes, Apex promises to keep pace through continued digital transformation.
*Article reposted with permission from Arabian Business.
