Citi introduces automated securities lending solution for wealth managers

By Pavithra R

Citi has introduced a fully automated securities lending solution for wealth management firms they custody, in partnership with FinTech firm Sharegain.

The new securities lending solution enables wealth managers to offer securities lending program to their customers, giving them the opportunity to earn additional revenue on their bonds, stocks, and ETFs, without developing an internal program from scratch.

“It’s our ambition to provide Citi custody clients with the world’s leading agency securities lending service. Securities lending is a well-established practice among institutional investors, but one that most private investors have been unable to benefit from. That’s why our clients are demanding a tailored, automated securities lending service they can offer to their end customers,” said Stuart Jarvis, EMEA head of Agency Securities Lending at Citi.

The new solution is designed to integrate with wealth managers’ existing IT infrastructure. It provides a fully digital user experience for underlying customers, from opting into the program through to managing their lending. The automated securities lending solution was born from Citi’s D10X program idea, a strategic growth initiative that nurtures the development of business solutions.

“In a world where new technologies are transforming the way we do business, Citi is embracing innovative ideas to deliver new services to our clients. Partnering with Sharegain allows us to provide a digital securities lending solution that is flexible, scalable and easily integrates with our clients’ existing systems,” said Chris Cox, Global Head of Data and Digitisation and EMEA Head of Securities Services at Citi.

“We are excited to work with Citi to bring this first-of-its-kind solution to their clients and to set a new standard for our industry. This collaboration is a testament to the power of Sharegain’s solution and its potential to democratise securities lending,” said Boaz Yaari, CEO and founder of Sharegain.