28.06.2024 SaxoConnect updates and new features – SaxoConnect

We have a range of new features and enhancements that are available now on SaxoConnect or going live within the next couple of months. These include:

Email alerts on cases

Users can now have email alert subscription on cases delivered outside SaxoConnect. This allows users to receive notifications whenever there is a new comment on the case or when the case status is changed to either ‘Resolved’ or ‘Cancelled’.

Users can subscribe to email alerts on cases in the following two ways:

From case details screen of active cases:

From create new case screen:

Notifications can only be subscribed to on open cases, 'Resolved' or 'Cancelled' cases are not eligible for email alert subscription, and multiple users can subscribe to alerts for the same case. Notifications will be sent to all subscribed users when a new comment is posted by our service team on the case and/or when the status of the case is changed to 'Resolved' or 'Cancelled'. If a user wants to stop receiving notifications, the user should log in to unsubscribe.

Please note this is the first version of this service, and it will be enhanced in the coming months.

We kindly ask you to share any feedback you may have about this new feature by submitting a case to Institutional Service on SaxoConnect.

Closing client accounts with specific criteria

Our new ‘close client account’ feature offers users the chance to easily close an account. The feature is only available on accounts that meet specific criteria, such as no open positions, no cash balance, and no pending accruals.

How it works:

Users can easily identify these accounts because the account will offer a close account link. This feature is designed to be intuitive and straightforward, allowing you to initiate the closure with ease.

This new flow includes the option to download any reports required before closing the client account. This ensures that you have access to all necessary documentation and reports for your records or compliance purposes.

At the end of the close account flow, a case ID is generated, which can then be looked up in case management for further information. This feature provides you with a reference point for tracking and accessing additional details related to the account closure process. Please note that the closure of an account can take up to three to four business days.

New funding journey

The launch of our newly revamped deposit and transfer features is designed to enhance users’ banking experience. The new features offer several key enhancements which focus on efficiency and user-friendliness.

Key enhancements:

Quick View: The updated interface provides a quick view of recent deposits and transfers, along with their detailed information. This feature aims to provide users with a comprehensive overview of their transaction history, enabling them to stay informed and in control of their finances.

SWIFT GPI Tracker: Allows users to seamlessly track the status of their payments. This feature brings transparency and visibility to international transfers and provides real-time updates on the progress of transactions. Users can enter the unique transaction reference number of a payment to track its status.

New trade allocation status: Reduced block order

Block orders are considered 'reduced' if any client or account involved in the order is removed prior to execution. Users now can view the reduced status of their block orders by adding a new column entitled 'Block Order Status' to the block orders screen. Additionally, the block orders grid can be filtered based on the 'Order Reduce Status'.

Client screener: Performance filter

YTD, QTD, MTD filters

Users can now view Year-to-Date (YTD), Quarter-to-Date (QTD), and Month-to-Date (MTD) performance at both the Client level and the Account level within the Client Screener. Additionally, clients or accounts can be filtered based on their YTD, QTD, or MTD performance.

Micro-surveys on closed cases

We recently rolled out micro-surveys in the case management module, which allows you to provide a feedback rating on closed cases. A case is considered closed if its status is designated as either ‘Resolved’ or ‘Cancelled’.

Users can access micro-surveys on closed cases in the following ways:

Case management grid: The micro-survey is accessible via the ‘Submit feedback’, located within the feedback column of the primary grid

Case details screen: The micro-survey can also be initiated by clicking the ‘Submit feedback’ on the case details page

Please note that micro-surveys are only available for cases marked as 'Resolved' or 'Cancelled' within the past seven days. Consequently, feedback cannot be submitted for cases that have been closed for a duration exceeding seven days. Only a single feedback is permitted for each closed case, and once a feedback is provided on a particular case, the feedback link will become inaccessible to you and all other users.

A micro-survey asks users to evaluate their experience pertaining to the specific case by employing a five-point scale, where a rating of 1 signifies extreme dissatisfaction, and a rating of 5 indicates extreme satisfaction. You are also afforded the opportunity to supplement your rating with a brief comment.

What will the feedback be used for?

All of your feedback about the processed cases is valued and will be reviewed in order to raise the quality of the service and awareness with all partner-facing teams.

Currently, the survey is enabled to facilitate data gathering and will soon be connected to a Power BI Dashboard, ensuring all feedback is tracked, monitored and actionable as a natural task for the leaders of teams concerned. We will share more information about this initiative soon.

Client onboarding: Onboarding history over the past 12 months

Our client onboarding module on the platform now provides users with the ability to access client onboarding history for the last 12 months. This enhancement is designed to offer you greater visibility and accessibility to past onboarding requests, to easily retrieve, reference and gain a comprehensive understanding of past client onboarding activities.

How it works:

To access client onboarding history for the last 12 months, simply navigate to the client onboarding module on the platform and utilise the designated filter option to specify the desired time frame. This will enable you to retrieve and review onboarding details for the specified period.

New features within the Client renewal module

View upcoming renewals up to 12 months

The new feature allows users to view upcoming renewals for the upcoming 12 months.

Adding previous renewal date

Users can now view the last time an onboarding due diligence was completed for a specific client, presented as a date. This enhancement can help users track the compliance status more effectively.

Adding Renewal types

Users can now add the following renewal types as a filter and a new column:

Client Triggered
AML Screening Alert
Transaction Alert
Time Trigger
Margin Lending
NCI Alert
AML TM Alert
Transaction Alert Without Source of Funds
Minor Reaching Legal Age
Phone Country Code Update
Minor Login User Activation

Exposure: Adding Cash exposure and grouping by currency

We have improved the Exposures view by showing users Cash exposure, in addition to showing aggregated exposure in different products. When expanding the Cash group, users will have an overview of their aggregated cash from their end-client accounts in various currencies. The context menu on the right side can also be used to view the different accounts that contribute to this view.

Furthermore, as part of our ongoing efforts to improve the Exposures view, we will introduce grouping by currency by early July. This enhancement will offer users a more comprehensive understanding of their total exposure in various currencies. Here is how the upcoming module will be displayed:

Coming soon: Updates on account properties and trading capabilities

In late July/early August 2024, we will introduce the functionality to modify specific attributes on client accounts within SaxoConnect. The properties targeted for modification include:

Account name (Display name of account)
Risk profile
Partner key (External reference)

We will also be implementing the capability to execute block orders for option strategies (multi-leg options) through the allocation tool in SaxoConnect.