A year ago when I looked back over 2020, it really was a year like no other as TrustQuay and our customers had to operate under the limitations brought about by the pandemic. One year on, and now 18 months on from the launch of our new brand, I am pleased to report that TrustQuay has taken a strong step forward on its vision to help corporate services, trust and fund administrators to automate and digitalise their service offerings.

When we launched TrustQuay, a key goal for us was to enable and rapidly accelerate automation and digitalisation within the industry by significantly enhancing our products and providing innovative new solutions for our customers and their end clients.

A key innovation we brought to market this year was the latest version of TrustQuay Portal. This Version 2 of TrustQuay Portal is the first digital, end-client driven, two-way task initiation and workflow management tool specifically developed for corporate services and trust administrators, which also includes onboarding with real-time ID verification. This, along with providing an online view of entities, secure two-way messaging, document sharing and billing information, is supporting customers to digitally transform their end-client engagement.

During the year, we've also seen an increasing number of customers moving forward to digitalise their business models. In total, we have successfully delivered 38 project go-lives, including 10 new implementations, 13 new modules, 3 new sites, 5 migrations and 7 upgrades. We have welcomed 18 new customers across our flagship products NavOne and 5Series during 2021.

In terms of customer interaction, the end of November saw an important milestone - as well as our first in-person event in two years - our inaugural Product Advisory Group which was held in Jersey. Our vision for this format is to create a roundtable event where customers can share how they are using our products in the real world and where their businesses are heading, and for us to share our current plans and future directions.

This feedback is key to help verify our roadmap and enable us to build the next generation of TrustQuay software. We hope to roll out a series of these events (Coronavirus restrictions-permitting) in different locations in 2022.

We also maintained our programme of virtual events, with two half-day forums as well as six focused webinars taking place in 2021. And we were pleased to open TrustQuay's new Luxembourg office in April at the prestigious Luxembourg House of Financial Technology.

An important area we have continued to invest heavily in during 2021 has been customer service. By significantly expanding the customer service team and investing in technology to digitalise and automate workflows, we are pleased to report that we answered approximately 8,000 service requests in the last 12 months, and reduced open tickets by a quarter compared to the previous year.

We’re very pleased that in the course of 2021, TrustQuay has received significant recognition in terms of awards, winning Digital Company of the Year at the Jersey Tech Awards, as well as awards for Best Software Supplier of the Year and Fintech Vendor of the Year from Citywealth, and awards for Innovative Client Solution and Onboarding Product at the WealthTech Asia Awards.

As we look to 2022, TrustQuay's Future Focus Report recently pointed to an industry that clearly recognises the importance of technology, but is still struggling to appraise the costs and financial benefits associated with automation and digitalisation. We look forward to helping firms by providing the tools and capabilities to make a clear assessment of the business case and return on investment for investing in technology.

Finally, I would like to thank all our existing customers around the world for their continued support in 2021 and a special thanks also to the whole TrustQuay team for all their hard work and achievements during the year.

I think we have taken a strong step forward on the pathway to helping corporate services, trust and alternative fund administrators to digitalise and automate their business models and client engagement, and to unlock the significant value that this will bring.

About the Author

Keith Hale

Keith is Group CEO at TrustQuay