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CoVESTA adopts FUND.ID regtech as it looks to innovate the property investment market

MEDIA RELEASE

Core transaction platform now Integrates with compliance platform, streamlining the investment journey and online experience.

SYDNEY, 8 MARCH 2018 – Global Merces today announced its recently released FUND.ID regtech automation system will be implemented within the CoVESTA property investment platform. FUND.ID will deliver a highly efficient, cost effective and secure customer application process for CoVESTA’s Australian real estate investors.

CoVESTA is an alternative way to invest in and own property. Its approach is to make investing accessible, affordable, and easier. In line with this challenge the firm wanted to ensure its core transactional platform for investors was fully integrated with its compliance requirements.

Daniel Noble, Chief Executive Officer at CoVESTA said:

“We are committed to supporting the investment process for retail investors, our CoVESTORS. To educate and engage with investors we had to deliver the appropriate level and amount of information at all stages of their investment journey. Overloading them with a paper-based application process at the end of a very streamlined online platform was not what we wanted.

FUND.ID is ideal for the CoVESTA investment community due to its seamless integration into our transactional platform. We have been able to incorporate FUND.ID into the existing user process as it is designed to significantly reduce the fund application and compliance process requirements we need to meet. In effect, we have removed a major friction point for our investors.”

The use of FUND.ID allows CoVESTA to collect information on investors at various points in the investment journey and re-direct those administration activities to FUND.ID.

Noble continued:

“We are using FUND.ID and Global Merces for fund administration and this allows us to identify investors accurately online and provide them with a PIN to securely process their investment application. No wet signatures are required, and this keeps our investors online whether that is from a desktop or mobile device. It’s not only more efficient, the automation helps us stay focused on servicing our customers.”

 

About CoVESTA


CoVESTA is an online fractional property investment platform that lowers the barriers to entry to the Australian property market. CoVESTA helps every day Australians invest and become a co-owner in any available property, in any asset type, anywhere in Australia.  www.covesta.com.au


About Global Merces


Global Merces is one of Australia’s innovative asset management firms and a premier provider of funds management, investment management, and fund advisory services to industry peers, family offices and retail clients across the Asia-Pacific region. www.globalmerces.com.au


Media Enquiries:

Cathryn van der Walt
Telephone: +61 (0)402 327 633
cathryn@12worlds.com

Emma Cullen-Ward
Telephone: +61 (0) 414 989 137
emma@oneprofile.com.au