"Since the passage of the JOBS Act, FinTech and RegTech have begun to transform private markets, expanding the number of offerings, lowering investment minimums, and reducing transactions costs," said Jim Dowd, CEO of North Capital. "Becoming a self-clearing broker-dealer enables us to extend our capabilities beyond the offering and transaction process, through to custody and clearing." According to Dowd, traditional financial firms have been slow to react to the changes ushered in by the JOBS Act, but startup firms have built new technology to capitalize on it. "The next opportunity is for this technology to transform established private markets. It's already started," he said.
NCPS's decision to become a self-clearing firm was dictated by client needs, according to CFO Stephanie Holt. "Our clients demand a quick turn around time, absolute accountability, and a high level of service," said Holt. Creating an internal escrow and payments capability was a natural and logical progression for NCPS. "We plan to roll out a full custody solution in 2017," said Holt.
North Capital Investment Technology offers SaaS solutions to facilitate the offering, transaction, settlement, and compliance management of private securities offerings. NCIT's TransactCloud services are utilized by funding platforms, broker-dealers, fund managers, and other issuers of private securities. NCIT's wholly-owned subsidiary, North Capital Private Securities, a registered broker-dealer and member of FINRA and SIPC, is a market leader in the origination and distribution of private securities.
PRLog ID: www.prlog.org/12605305
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SOURCE North Capital Investment Technology