The London Stock Exchange Group (LSEG) has sold its client on-boarding technology to Delta Capita, an established worldwide provider of managed services, technology, and consultancy for the capital markets.

Client Onboarding (previously GoldTier) is an end-to-end KYC client lifecycle management compliance solution that leverages effective data and technology used by notable banks and financial institutions worldwide.

This purchase is a component of Delta Capita’s aim to provide technology solutions and managed services that are essential to financial institutions.

In addition to enhancing its current Karbon array of KYC client lifecycle compliance services, tools, and solutions, Client On-Boarding will strengthen Delta Capita’s role as an innovator in the KYC client lifecycle management (CLM) managed services industry.

Under the terms of the agreement, Client On-Boarding’s existing institutional client base in the United Kingdom, Europe, North America, Singapore, Hong Kong, and Australia has been transferred to Delta Capita.

LSEG will still be a client of the solution.

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Furthermore, in order to scale and commercialise Citi’s QMA software, the company chose Delta Capita and the company’s capital markets blockchain software, MACH, was developed.

Based on code that was purchased from SETL in early 2023, MACH was recently chosen as the preferred platform by Montis, the digital securities CSD.

Joe Channer, Delta Capita CEO, stated: “This acquisition reinforces our KYC client lifecycle credentials and positions us not only as one of the largest service providers in this sector, but will allow us to provide best in class technology to help our clients with their full KYC and CLM compliance obligations. As a proven global provider, we are excited to invest in this area and provide services that go beyond the provision of technology to the market. This acquisition achieves that.”

Philip Freeborn, co-head of global markets and wholesale banking services for Delta Capita added: “There is growing demand from our clients for a full managed service offering in KYC and Client Lifecycle Management. Thanks to our latest acquisition, Delta Capita can now provide additional services, including full enterprise grade CLM technology, due-diligence, and client outreach services. This allows clients to simplify their businesses, achieve a price per file model and reduce compliance risk at a time when the regulatory burden continues to dominate investments.”