Kingdom Trust, VeriComply Form Strategic Relationship to Automate Asset Validations
The relationship will result in a more simplified process with reduced risk, resulting in cost savings, increased efficiency and rapid turnarounds for Kingdom Trust clients.
SIOUX FALLS, SD (SEPTEMBER 14, 2017) – Kingdom Trust, a leader in alternative asset custody for individual investors and institutions, and VeriComply, a pioneer in asset assembly and verification, announce a strategic relationship to accelerate document verification. The result is a verification process up to seven times faster, with costs averaging 50-80% less, than other traditional verification options.
Kingdom Trust serves as the custodian for individuals who wish to invest in alternative assets like private loans. From individual retirement accounts to pooled investment vehicles, the firm provides innovative and flexible custody solutions and aims to simplify the investment and custody process wherever possible. By integrating with Kingdom Trust, service providers can operate with greater efficiency and transparency and in full compliance with the Custody Rule and other regulations.
“We are excited about the relationship we’re building with VeriComply,” says Kingdom Trust President, Bo Ives. “Our firm constantly looks for ways to enhance our services and bring a better, more efficient solution to the client, and this relationship will do just that!”
The strategic relationship with VeriComply opens up more opportunities for those seeking investments in private lending assets. In addition, loan originators, warehouse lenders, ABS sponsors and other professionals could also benefit from the new relationship.
Roger Dickerson, CEO of VeriComply, states, “We are excited to form a strategic relationship with Kingdom Trust. VeriComply’s technology and processes are powerful solutions to help Kingdom Trust continue to be a leader in innovative custody solutions.”
About Kingdom Trust
Kingdom Trust is an independent qualified custodian under the Investment Advisers Act of 1940, as amended, and 26 USC 408. Kingdom Trust is registered and regulated in the state of South Dakota and does not provide, promote, endorse or sell investment products and does not endorse or promote any individual investment advisor or investment sponsor. For more information, please visit KingdomTrust.com.
VeriComply has a leading technology and process system that verifies, stores and manages financial assets (“the VeriComply System”). The VeriComply System automates asset verification for the secondary market. VeriComply is changing the paradigm from manual verification to an integrated and automated solution. The VeriComply System automatically recognizes loan files, extracts data, validates the data and creates customizable workflows to manage data, documents and reports. The VeriComply System can be used by originators, loan buyers, and any of their service providers, including custodians, auditors, warehouse lenders, and others. The VeriComply System allows customers to verify the accuracy of loan files and data faster, easier, and less expensively than any other verification system. For more information, visit VeriComply.com.