Top Sub-Custodian Financial Institutions in Africa by 2025
Standard Bank, a regional powerhouse in Africa, has made history by becoming the first institution to offer securities lending services in the Nigerian market. This move underscores the bank's commitment to simplifying and enhancing operational efficiency via new growth initiatives.
The bank's services are backed by robust post-settlement operations and supported by strong technology platforms. In fact, Standard Bank's securities lending services are based on the TCS BaNCS platform, a globally updated system in 2024, aiming to provide the strongest capabilities for its clients. The bank has integrated the TCS platform with its own proprietary custody platform, IS Online, for real-time settlement and reporting.
The TCS BaNCS platform is Swift enabled, ensuring seamless communication of transactions. This integration allows Standard Bank to cater to clients with business interests in multiple markets. For these clients, the bank has developed an offering that requires only one legal agreement and operational contract to serve all markets.
Standard Bank's leadership in securities lending extends beyond Nigeria. In South Africa, the bank continues to dominate the market, while its subsidiary, Stanbic Bank, has won in Ghana and Nigeria. The bank's Investor Services division operates the largest sub-custody network in sub-Saharan Africa, spanning 16 countries.
The selection of institutions for these services was not a haphazard process. It involved considerations of customer relations, quality of service, technology platforms, post-settlement operations, local market knowledge, regulations, and practices. This approach has resulted in solid and consistent growth in new client mandates for Standard Bank.
Moreover, Standard Bank attracts leading institutional investors, including top global custodians, broker-dealers, and pension funds. The bank's understanding of local market dynamics, coupled with its commitment to high-quality service, has earned it a dominant market share in assets under custody in various countries.
Recently, Standard Bank completed a pilot program to provide clients with access to real-time data for improved reporting capabilities. This move is part of the bank's ongoing efforts to enhance its business model to support its extensive franchise in Africa.
Launches for securities lending services are planned for Botswana and Kenya, further expanding Standard Bank's footprint in Africa. With centralized functions across operations, account management, sales, and technology, the bank maintains uniform standards to deliver high levels of service.
Our editorial board considered market research, expert sources, and bank entries to select institutions for this article. The bank's continued success and growth in the securities lending market are testament to its strategic approach and commitment to innovation.
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