Depositary & Custodian Banking Cluster

The Depositary Banking Cluster brings together custodians and fund service providers focused on safeguarding assets and ensuring regulatory compliance.

Its key missions include:

• Advocacy and regulator dialogue: maintaining close communication with regulators like the CSSF to provide industry feedback on proposed regulations, ensuring balanced rules that protect investors without stifling innovation.
• Practice harmonization: developing and promoting standardised approach, market guidelines and frameworks to increase efficiency, reduce operational risk, and ensure consistency across market participants.
• Education, training and talent attraction: this includes initiatives to attract new talent to the sector by showcasing career opportunities and supporting professional growth within depositary banking.
• Innovation and operational excellence: driving innovation by partnering with the broader financial ecosystem and fostering the adoption of technologies such as automation, artificial intelligence, and data analytics. The goal is to streamline core processes, while enhancing service quality, efficiency, and cost-effectiveness.