Earlier this quarter, TrustQuay held its latest Product Advisory Group. Here’s a recap and review from Junior Product Manager Suzanne Pritchard, one of a team that’s responsible for ensuring we bring to market software and features that are valued.
The dust has settled on the first in-person Product Advisory Group since the launch of TrustQuay, and what an event it was. As a relative newcomer to both the product team and the business itself, this was my first such event so jumped at the chance to take part, meet face-to-face with our customers, and subsequently blog about my experience.
The objective of the Product Advisory Group was to provide stakeholders and leaders from our customer base in Jersey’s trust, fund and corporate services market with insights into best practices and future developments. It also gave us the opportunity to validate upcoming ideas and features and listen to feedback to ensure we're investing in the right areas at the right time.
The first session was around our vision to automate and digitalise corporate services, trust & fund administrators with integrated software – and identify key pain points. A popular ‘Buy A Feature’ innovation game brought to the surface lots of commonalities on form and function.
We followed with a debate around the dichotomy between belief and behaviour recently highlighted by TrustQuay Chairman Keith Hale after the publication of TrustQuay's Future Focus report and survey. Regulatory burden was identified as a top challenge for our customers with the discussion centring on leveraging as much automation as possible to minimise time spent on such tasks. This led into a discussion on regulatory digitalisation, including topics such as the JFSC Digital Registry, and our PwC Economic Substance Advisory Service, with Kelly Tadier – Senior Tax Manager at PwC – facilitating a table discussion to delve into the detail around the key challenges and barriers faced by our customers in these areas.
After a break, we shifted the focus to digitalisation, and our work to connect front-office and back-office financial processes and KYC compliance with TrustQuay Portal. A ‘Play Your Cards Right’ innovation game re-enforced that we are heading in the right direction, with the top five cards selected all present and available in the latest release.
Last but not least, we gave a first look at new TrustQuay innovations scheduled for 2022, followed by a well-deserved networking session over drinks. Overall, it was a really productive event and one that I was both proud and humbled to be part of.
I cannot wait for further Product Advisory Groups early next year in other key locations – starting with my first trips to meet TrustQuay customers in Guernsey and the Isle of Man.
(We also recommend reading Economic Substance - How Regulators are Starting to Take Action)