At Phundex we know that you want to be sure the people signing your documents are authorised to sign them. We’ve also spent hours updating authorised signature lists and sending them to our counterparties, as well as validating who can sign for our counterparties. Streamlining that overall process saves time and money – and lets you close transactions faster.
We’ve made authorised signature verification easier on the Phundex Platform. We’ve teamed up with Cygentise to streamline that process and provide enhanced security, efficiency, governance and auditability.
Authorised Signatories- how we help
At Phundex, we believe in making work streamlined and simple. We want to reduce the number of things you have to do manually, giving you more time to do value-added work. We also want to know that the people we are working with and signing documents are authorised to do so.
While working in large financial institutions, we spent a lot of time producing authorised signatory lists and validating the authorised signatories of our counterparties. That used to mean circulating paperwork with their signing authority limits to all the authorised signatories and collecting their signatures.
The list needed to be updated regularly and was often outdated almost before the last signature was dry. The updated signatory list then went to our counterparties to prove who had the authority to sign on our behalf. That was highly time-consuming. One of my former clients had hundreds of signatories around the globe and thousands of Bank counterparties, and keeping those signatory lists up to date was a full-time job for the accounts payable team.
Wouldn’t it be great if we could find a way to provide and share authorised signatory lists that don’t need “wet ink” signatures sent around and that are accepted by our counterparties as acceptable proof of authorised signing approval? Thanks to Cygnetise we can!
Cygnetise allows you to manage and update your authorised signatory lists in real-time, providing a variety of secure methods for your counterparts to access the relevant lists. A tamper-proof audit trail also supports any dispute resolution on signing authorities. Cygnetise is being used by a wide range of fund administrators, corporate service providers, banks and asset managers (such as JTC Group, Vistra, Butterfield) to digitise the process of managing authorised signatory lists. We thought it was such a good idea that we became a client.
We have confidence in the Cygnetise solution and the time it saves our clients. We’ve worked with them to allow Phundex clients to add the Cygnetise authorised signature lists and link directly in their process and transactions Pathways.
Now when you are managing a transaction or getting documents signed on the Phundex platform, you’ll have an easy way to confirm the person signing has the authority to do so.
Phundex. Putting the G in ESG. Saving time while enhancing governance.