inSPire launches first centralised utility to mutualise due diligence costs
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inSPire launches first centralised utility to mutualise due diligence costs 11 June 2019London Reporter: Jenna Lomax
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Delta Capita’s structured products service offering, inSPire, has launched inSPire Due Diligence, a utility focused on the know-your-distributor due diligence process.
The utility, which is now live, has been designed to minimise the resource impact on both issuers and distributors.
The utility offers a shared centralised resource to facilitate the flow of due diligence
information between distributors and permissioned issuers.
inSPire Due Diligence provides a centralised team of structured product specialists who collect, produce and monitor the due diligence data on behalf of participating structured product issuers, mutualising the benefits of a centralised industry solution.
inSPire Due Diligence has also agreed on a common standard for due diligence questionnaires (DDQs). The utility also eliminates the unnecessary duplication of DDQ design, production and monitoring.
The launch of inSPire Due Diligence comes after the launch of inSPire Direct, an end-to-end structured product issuance platform.
Mark Aldous, managing director of inSPire, said: “This new utility represents part of a much wider vision to use our track record as trusted structured products experts to bring the market together, creating common standards, mutualising costs and generating efficiencies.”
Joe Channer, CEO of Delta Capita, commented: “This is another example of inSPire bringing together the industry with an exciting new initiative for the mutual benefit of all participants. inSPire’s Due Diligence service will deliver significant efficiencies and cost reductions to the market at a time when it is most needed.”
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