Tricor wins big for revamped issuer portal
It rolled out a new issuer portal to create a one-stop platform for listed issuer clients.
Tricor Services Limited transformed the digital experience for its users of listed issuer clients, rolling out a new issuer portal in April 2021. Here, users can access all needed solutions and services in one place and by using only a single login or account.
This is after conducting a comprehensive study on market developments, evolving customer expectations brought about by the COVID-19 pandemic and digital innovations in adjacent markets.
The company particularly focused on the listed issuer client segment and share registry market.
The key highlights collected from the study include identifying the need for Tricor to digitally innovate and further personalise the services that the company already offers.
This new digital solution was also identified to be a gateway for Tricor to capture opportunities arising from evolving customer expectations; and to be well-positioned to create an end-to-end digital experience so its clients can have easy access to various information that may be needed.
The innovation allowed listed issuers to securely access their shareholding information, including shareholder registers, shareholder preferences and shareholder analysis. Key functions include dynamic report generation, sorting, filtering and download.
It also served as a communication platform between Tricor and its clients, facilitating actions, such as sharing documents, populating calendar events and assigning a dedicated customer relationship team.
Serving as a single point of entry to access all Tricor’s digital services for listed issuers, the platform significantly strengthened the company’s ability to cross-sell digital services.
For its efforts to improve the services provided on the platform, Tricor was awarded the Digital - Financial Services award in the recently concluded Hong Kong Business Technology Excellence Awards. The annual programme recognises innovations in technology and their contribution to the business landscape in Hong Kong.
“We are very pleased that our Issuer Portal is being recognised in the Hong Kong Business Technology Excellence Awards this year. At Tricor, we have a strong client commitment that we are always finding ways to better serve our clients. The launch of the Issuer Portal is a solid example showing that our solutions and services are well designed with our clients in mind – we listen to their needs and we innovate to address their pain points and challenges,” said Joe Wan, CEO at Tricor Hong Kong.
“The share registry market is highly consolidated and is heavily paper-based. There has been a slow pace of digital innovation across major market players. In the past, listed issuers would have to access the information and services needed in different places, systems and with different logins. Tricor’s Issuer Portal provides a streamlined view of all the services and solutions that listed issuers need, empowering them to efficiently manage their obligations,” added Catherine Wong, Co-head of Listed Issuers at Tricor Hong Kong.
The issuer portal of Tricor was considered a success based on three key performance indicators (KPI): revenue generation, revenue from cross-selling of other digital services and the number of active accounts and usage behaviour. The company tracks each KPI on a weekly basis to determine effectiveness throughout its development. The solution has so far been very well received by the market.
Also significant is the highly reduced processing time of customer-related report generation and distribution processes by 80-100%.
Lastly, it also reported that the issuer portal was able to achieve over 33% account activation within the first 30 days of launch.
To ensure a successful implementation, the company pursued an agile approach to proactively solicit feedback from clients and subject matter experts. It also engaged a digital agency to work on the entire design and development journey.
Members of Tricor’s share registry business team were also invited to ensure that their voices were heard during the development cycles and prepare a team that is fully trained to use and promote the issuer portal.