Zeidler Group launches Counterparty Due Diligence (CDD) Version 2.0
LONDON, UNITED KINGDOM: The technology-driven law firm, Zeidler Group, has launched the latest version of its Counterparty Due Diligence (CDD) module to ensure more control, collaboration and efficiency for its asset management clients and their counterparties such as delegates. The new product update enables CDD clients and their counterparties to work even more efficiently and collaboratively to expedite the questionnaire process with Zeidler’s user-friendly tool.
Zeidler’s CDD module is part of Zeidler’s digital platform, Zeidler Swift, that hosts a variety of Legal Tech and Reg Tech software modules for asset managers to take a more efficient and holistic approach to legal and compliance requirements and keep pace with regulatory change. Zeidler’s CDD module is an online portal for the financial services industry (partners, delegates, and service providers) to conduct initial and ongoing due diligence requests. Zeidler takes a future-proofed approach to due diligence which includes bespoke questionnaires for different counterparties, automated risk ratings as well as autofill and pre-population features.
The new 2.0 update enables clients and their counterparties to better collaborate with various stakeholders through more granular control, enhanced approval workflows and improved communication processes. Support is available via user guide videos, phone, email and chat.
Fanélie Medou, Head of Due Diligence at Zeidler Group, highlighted the significance of this product update.
“We always listen to the feedback from our users and have worked diligently to add the most requested improvements and updates. As we now work on update 3.0, we will continue to work with our users to improve our module and to best serve the needs of our clients and their respective counterparties."
Prashant Patil, Head of Software Engineering at Zeidler Group, added that Zeidler’s team of developers, software engineers and wider CDD team worked exceptionally hard to deliver long term value for Zeidler's CDD clients.
“Zeidler’s team of lawyers and multi-disciplined compliance, legal and regulatory experts as well as tech professionals are passionate about compliance and due diligence matters and continue to advance Zeidler’s CDD tool to ensure asset managers can easily make sense of their distribution network and mitigate risk.”
CDD Version 2.0 now incorporates autosave functionality, an advanced questionnaire overview page and an improved view with additional data made available. In addition to these updates, the due diligence team have streamlined the sign-up process to allow CDD clients and their counterparties to directly invite and remove users from the Swift platform. The latest update also includes the UBO engine to help identify beneficial owners through building the ownership structure which mitigates risk and enhances KYC functionality, amongst other feature enhancements.
Arne Zeidler, Founder and CEO at Zeidler Group, says "When we launched our counterparty due diligence service in 2018, it was in response to client frustrations with the existing solutions available. The new version contains many exciting new features, including an updated and improved approval workflow. It is fantastic to see how our team continues to deliver innovative solutions to make it easier and faster for our clients and their counterparties to complete their due diligence requirements more effectively and efficiently".
Zeidler Group is a technology-driven law firm revolutionising legal and regulatory compliance services for the asset management industry. From innovative digital solutions for legal and compliance challenges to providing research-based high-quality legal advice, Zeidler Group builds collaborative, strategic, and meaningful partnerships.
