Third Party Products Bank Details

In order to automate the verification of third party product bank accounts that cannot be verified by GBG and ensure no manual overhead on our Financial Crime Team, the system automatically verifies these based on the provider’s standing data.

 A process runs three times intraday (10am, 1pm & 4pm) and additionally overnight. It verifies all bank accounts associated to 3PPPs where either the sort code and bank account number or sort code and naming convention are as expected   If they are not as expected they are reported as exceptions and subject to manual investigation by our Financial Crime team.

The information in this article enables you to see the expected bank details for all the third-party products available through the SS&C Hubwise platform.

For these 3PPPs the system will auto verify the accounts if the sort code is as per the information below, and if the account name contains the text as below.

If the system cannot validate the accounts based on these rules it will be reported and handled as an exception by our Financial Crime team.

3PPPs not mentioned in this document are where we do not have any information and therefore no configuration is available. These will be handled manually through the Bank Validation procedures.