Through Legal Futures’ Shieldpay Associates
Leading Third Party Managed Account (TPMA), provider of corporate escrow and paying agent services, Shieldpay, has launched a new trust services offering regulated by HMRC. The expansion is in response to increased demand from the professional services industry for Shieldpay to be involved in higher value and more complex transactions involving an ever increasing number of jurisdictions.
Delivering trust services through a digital platform is an important step in modernizing the way business escrow and paying agent transactions are facilitated. Shieldpay’s unique offering provides flexibility and transparency with real-time updates as well as increased efficiency with competitive pricing models.
The expansion of the product offering means that Shieldpay can:
- Facilitate larger and more complex transactions
- Hold funds longer
- Manage transactions in over 40 jurisdictions
- Provide corporate escrow and paying agent solutions for transactions such as asset purchases, mergers and acquisitions, real estate transactions, loan and guarantee transactions, dispute settlements, debt trusts travel and PPE purchases
Shieldpay Trust Services builds on the company’s already established portfolio of digital payment solutions and follows the group’s customer-centric approach, placing ease and efficiency at the heart of the service offering. As with all Shieldpay solutions, Trust Services takes care of customer due diligence and onboarding, enables digital authorizations and provides real-time visibility of fund status and access to statements and audit trails. .
Businesses will be able to access added services directly from Shieldpay’s award-winning digital platform starting today.
Foot Anstey advised Shieldpay on the legal and regulatory implications of their proposals to develop their offering and, Alan Hughes, partner of Foot Anstey’s financial services team commented: “Shieldpay’s innovative approaches to the associated technical and legal challenges to providing a first digital solution to this industry is exciting. We were delighted to be able to bring our extensive experience of complex regulatory issues and trust structures to this very specific use case, and to provide a solutions-driven approach that allows Shieldpay to quickly bring its solution to market to meet the needs of the customer. at the request of customers.
Geoff Dunnett MD of Shieldpay said, “Adding Trust Services to the Shieldpay solutions portfolio is a great next step in expanding our offering to the legal industry and their clients, as we aim to become the one-stop-shop for businesses to manage. all their transactional needs. Our solutions make sense when the value, complexity or type of transaction falls outside of regulatory approvals and a company’s operational risk appetite.