Oakbridge Fund Services (Jersey) Limited, (“Oakbridge Funds”) a Jersey based fund administrator, has partnered with The ID Register to offer investors and fund managers a digital Know Your Customer (“KYC”) onboarding solution.
The ID Register is the trusted, market leading, onboarding hub for the private markets with over 25,000 private fund investors already using the platform. It offers a digital ‘one and done’ KYC solution for investors and fund managers, which saves time and removes duplication, creating a scalable and efficient onboarding process. Once the investor’s profile has been approved it can be used by other service providers who are registered with The ID Register. This eliminates the requirement for repeat KYC checks for each new investment.
The ID Register provides an effective, digital solution that acts like a passport across the private markets and beyond. It enables administrators and service providers to manage volume and gain access to a pre-approved investor KYC documents.. Using The ID Register drives down costs and reduces the burden on the administrator
The ID Register’s investor approval process meets or exceeds the highest criteria laid down by all of the major investment jurisdictions, including the Channel Islands, where it has been supporting regulated businesses for the past five years
A report published in July 2020 by the Jersey Financial Services Commission, titled “Exploring Smart Regulation,” concludes that the island’s finance industry would benefit from a centralised, digital, Know Your Customer service that conforms to global standards. The Alternative Investment Management Association came to the same conclusion in their white paper of October 2020 and specifically featured The ID Register as an example of a digital ID solution.
Oakbridge Funds offer an expert and client-focussed administration service to the private markets. Its founders have a wealth of industry expertise and a desire to provide a truly bespoke service. Oakbridge Fund Services (Jersey) Limited is regulated by the Jersey Financial Services Commission for the conduct of Fund Services Business and Trust Company Business. The ID Register (Guernsey) Limited is licensed by the Guernsey Financial Services Commission to carry on Controlled Investment Business
Tim Andrews, CEO of The ID Register said: “The ID Register hosts more than 25,000 investors across more than 4,500 funds as the trusted hub of the private markets. It is the only regulated, digital investor hub for institutional and ultra-high-net-worth investors. The ID Register provides experienced analysts who support investors to complete their profile, review their details and ensure that funds close on time.
Robin de Gruchy-Wilson, Managing Director of Oakbridge Funds said: “We are delighted to be partnering with The ID Register and to offer our clients a market leading, convenient and stress-free onboarding solution. Oakbridge Funds and The ID Register are growing strongly together, with many new, mutual clients. We appreciate the benefits of a digital hub and believe that it is vital to the evolution and vibrant future of the funds sector, both in Jersey and beyond.”
For further information please contact us via our partner website
About The ID Register
Regulated in Guernsey, The ID Register is a compelling and efficient solution to the longstanding problems of analogue onboarding. As the trusted independent hub of the global investment community, The ID Register already offers investors streamlined subscription, KYC and FATCA-CRS services to the highest global standards and is trusted by over 25,000 investors and 270 clients as the onboarding authority across the global investment community
About Oakbridge Funds
Oakbridge Funds is an owner managed independent fund administrator based in Jersey. Established in 2020, Oakbridge Funds provides specialist outsourced administration services to the Private Equity and alternative funds sectors. Oakbridge Funds benefits from the resources and experience of its majority owner, ED Group. ED Group is an investment business with activities in the UK, Europe, North America and the Channel Islands. In Jersey, ED Group has developed its Financial Services offering over many years, it owns a Trust Company Business, ED Capital Limited, and an Investment Business, Oakbridge Limited. The establishment of Oakbridge Funds is a further expansion of ED Group’s financial services footprint.
The Oakbridge Funds team have more than 50 years’ experience in the funds industry. Working with leading fund managers in multiple jurisdictions across the UK, Europe and America they are experienced working with the largest institutional investors in the investment funds space.