Client Overview
Founded in 1998 in London, DDCAP Group™ (DDCAP) is a market intermediary and financial technology solutions provider connecting the global Islamic financial market responsibly, with over 25 years of experience providing award-winning asset facilitation services to institutional clients, conventional and Islamic banks. DDCAP facilitates for over 360 financial sector clients worldwide across a diverse range of Sharia compliant products, asset classes and instruments in both the primary and secondary markets.
Through the applications of DDCAP’s automated trade and post trade services platform ETHOS AFP™ (ETHOS), they have introduced digital solutions that have significantly enhanced Islamic financial market efficiencies globally. ETHOS offers continuous, 24/7 coverage and enables clients worldwide to purchase from a responsible, diverse asset inventory via a secure, web-based portal. The platform delivers an array of benefits and efficiencies whilst mitigating transactional and operational risks. DDCAP continues to make significant investment to ensure that ETHOS remains the benchmark for the industry sector. The most recent example of this is ETHOSTerminal™, the latest evolution of ETHOS, which brings additional integration functionality to DDCAP clients via an open market environment that enables users full discretion in choosing trade counterparts.
Beyond their London headquarters, DDCAP’s international footprint includes representative offices in the DIFC Dubai, Kuala Lumpur and in Bahrain.
Pictured left to right:
Astyanax Kanakakis (CEO and Co-Founder, norbloc)
Callum Burgess (Director, Digital Partnerships and Business Solutions, DDCAP Group™)
Stella Cox CBE, FCSI(Hon) (Managing Director, DDCAP Group™)
Lawrence Oliver (Director, Deputy CEO, DDCAP Group™)
The Challenge
DDCAP is proud to have greatly expanded their business and integration with the Sharia compliant retail and digital finance markets over the last 5 years. Alongside their business expansion, DDCAP has focused on the streamlining of processes group-wide to ensure that they are able to accommodate the diverse requirements of an additional number of customers with peak efficiency.
As their customer base and volumes grew larger, DDCAP needed a more efficient and effective digital procedure for customer due diligence and onboarding that would facilitate data and document collection while ensuring AML compliance and elevating customer experience.
Before utilising norbloc, DDCAP compliance and governance approaches included certain legacy processes that proved time consuming and required resource allocation to monitor. These procedures impacted scalability and gave rise to concerns about data fragmentation and timeline efficiency. DDCAP needed a solution provider with an innovative platform and market experience to fully digitize their current customer files, streamline their onboarding process and set up their client communication for success.
The Solution
DDCAP uses norbloc’s Sancus Platform as a holistic, end-to-end platform to swiftly collect and verify customer data and documents for effective onboarding. Additionally, norbloc’s Sancus allowed DDCAP to digitize customer forms, perform bulk PEP checks and, through visual dashboards, ensure a comprehensive overview of their compliance status.
“DDCAP Group™ is proud to be partnering with norbloc to provide a secure and confidential due diligence on-boarding solution via a proprietorially configured client portal. Working closely with the norbloc team, we have created a bespoke client pathway, utilising norbloc’s encrypted data storage facilities, designed to provide ease and flexibility of use ensuring completion of all required data and documents in the on-boarding process. We believe the infrastructure provided by norbloc to be an important part of our security resilience measures, which are built to meet the highest standards required in the industry today, but with a clear eye open for future legislative and regulatory requirements,”
Implementation
The DDCAP Group™ Corporate Governance team has been working closely with norbloc in respect of the Sancus Platform with the norbloc team maintaining an open line of communication, in order to offer a customized and orchestrated Sancus solution that meets DDCAP’s requirements.
The Results
The collaboration has resulted in a tailored KYC solution which is designed to enhance and streamline the Group’s processes and procedures relating to AML/KYC onboarding as well as wider client enquiry and due diligence tasks.
In particular, several bespoke client pathways have been configured to reflect the particular requirements of both the Group’s existing global client base as well as the increasingly diverse array of new counterparties looking to enter into the Islamic finance marketplace.
“DDCAP’s partnership with norbloc evidences DDCAP’s commitment to ensuring the robustness of our corporate governance processes and procedures, whilst also adopting a modernised approach which has enabled DDCAP to move away from legacy practices. This has greatly enhanced efficiencies and transparency around the DDCAP client onboarding process. The bespoke nature of the norbloc client portal means that at DDCAP, we are able to tailor our client onboarding procedures to meet the specific requirements of our clients and the jurisdictions in which they reside, thereby delivering a number of advantages for DDCAP and its clients. From a partnership perspective, norbloc’s forward thinking and modern values in the digital space are very much aligned with those of DDCAP. It is a pleasure for us to be able to collaborate with norbloc and it is our hope that our respective markets will also see the benefits from this partnership,”
Sancus has enabled DDCAP and ETHOS to streamline internal governance processes whilst containing operational overheads and, as a growing business, the Group is always focused on implementing solutions that maximise operational efficiencies.
Future Plans
As DDCAP widens its global footprint, customer base and product offering, current corporate governance processes and procedures will be enhanced accordingly. The norbloc team ensures that the DDCAP Group™ is always equipped and able to seamlessly integrate any changes into day to day business requirements.
As the DDCAP and norbloc partnership extends and the Sancus offering is enriched with additional innovative features, such as AI, the capabilities of these enhancements will further drive the efficiencies that DDCAP is already seeing from using Sancus.
Both teams look forward to working together on additional opportunities that will arise in the years to come.
About norbloc
norbloc is redefining customer due diligence with its end-to-end platforms for secure collection, management and sharing of KYC/KYB data covering the entire client lifecycle. norbloc’s Sancus Orchestration platform digitizes customer onboarding for financial institutions and banks, ensuring that verification, AML checks and renewals all occur in one place seamlessly while the customer completes their onboarding journey. Equipped with holistic dashboards and case management tools, Sancus is the cornerstone for fast and effective AML compliance for institutions across the globe.
To find out more, visit www.norbloc.com or contact:
Alkisti Rocanas
norbloc, Business Development Manager
alkisti@norbloc.com
To find out more, visit www.ddcap.com or contact:
Callum Burgess
DDCAP Group™ Director, Digital Partnerships and Business Solutions
+44 207 863 1228