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In a bid to stimulate growth, extend its reach, and foster advantageous collaborations for its clients and stakeholders, Access Bank has unveiled its custody services, facilitating the secure storage and management of financial assets for its valued customers.
This move into custody services, affirmed by one of Africa’s prominent financial institutions, follows the receipt of regulatory endorsements from both the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) in December 2022.
Ogbonna Roosevelt, the Managing Director and CEO of Access Bank, emphasized that the initiation of custody services signifies a significant achievement in the bank’s endeavor to consolidate its robust presence in corporate and investment banking.
Roosevelt asserted that the bank is fully committed to offering Alpha-suite services to its corporate clientele, encompassing both financial and non-financial institutions, both local and foreign. He stated, “As we extend our reach in this domain, we aspire to be the preferred partner for enterprises seeking to enter international markets through strategic collaborations.”
Custody services form a pivotal part of Access Bank’s ongoing growth and expansion strategy, aligning seamlessly with the bank’s vision to become the premier gateway to African markets. By creating Access Investor Services Nominee Limited, a nominee company, customers’ assets will be meticulously segregated from the bank’s proprietary holdings, ensuring the highest level of security and safeguarding.
Bunmi Arowosafe, Head of Access Investor Services (AIS), commented on this development, revealing that the services are now operational and customer onboarding has already commenced.
“Our customers will experience the inherent drive that defines the Access brand – marked by leadership, customer-centricity, excellence, innovation, and professionalism. We’ve instituted a comprehensive and resilient custody and settlement application that guarantees a high standard of straight-through processing (STP).”
Arowosafe further disclosed that customers can anticipate a secure communication avenue and comprehensive access to view their holdings and monitor instructions. Additionally, the bank’s advanced IT capabilities within the Access ecosystem will further enhance the scope of their custody services.
She added that Access Investor Services’ comprehensive custody offerings encompass securities processing, trade settlement, treasury and liquidity management, and multi-market services through affiliations and established partnerships.
“This expansion signifies yet another stride in fulfilling Access Bank’s mission to provide exceptional financial solutions and unmatched market access to both domestic and international clients,” Arowosafe affirmed
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