Strate has implemented a new web-based portal to allow its clients to have a user-friendly tool that allows them to securely log on to an online portal, enabling them to communicate and transact with Strate.
Historically in South Africa, CSD Participants and Business Partners were required to maintain their own front-end systems to interact with Strate, bringing costs and inefficiencies to the market.
The web portal solution is a centrally hosted platform that has replaced out-dated systems, brought down maintenance costs for clients and mitigated the related risks that existed between decentralised infrastructures.
Rather than having to change each system operated by respective clients, Strate can now make changes to its own portal and assist with updates to the technology, according to Rudi Steenkamp, Strate’s Head of IT.
Secure CSD online portal
We have received positive feedback from some of our clients using the first phase of the project, which was designed to assist our clients with International Securities Identification Number (ISIN) enquiries for money markets to help them identify securities online and compile reports,” says Steenkamp.
Strate is currently looking at phase 2 of the project, which will include incorporating the Money Market Front End and Equities Front End into the portal.