Natixis ISAE 3402 Type II certified for custody services to retail or private banks
The EuroTitres department of Natixis has obtained ISAE 3402 Type II certification for security custody services to retail or private banks. This is the first ISAE Type II certification in France.
The ISAE 3402 Type II certification concerns the reliability of the control process for back-office services delivered to client companies (processing instructions, requirements to notify, securities accounting, etc.) and aspects related to information systems (evolutions, production, maintenance, security).
Natixis was certified ISAE 3402 by the external auditor Deloitte, based on 430 control points and 2,200 appropriate evidence items.
Clients of the EuroTitres department of Natixis benefit from an efficient control process in line with the risks incurred, considering that securities custody is a complex activity which requires numerous processes, both automatic and manual.
“Choosing ISAE certification means choosing transparency”, explained Marc Cattelin, Head of EuroTitres. “Our clients need us to deliver an essential service for them and for their clients. The ISAE certification guarantees the full control of services delivered. Our objective with ISAE is also to comply with the best international practices, a fact that is highly appreciated by our clients and prospects.”
Natixis’ ISAE 3402 Type II report will be submitted to an independent auditor each year, which means it is a long-lasting commitment of the company based on the unfailing commitment of the teams.
This standard on assurance report on controls at a service organization certified by an independent party was issued in December 2009 by IAASB (International Auditing and Assurance Standards Board).
Hundreds of companies in the United States, in Northern Europe and in Asia comply with this standard, which is highly developed in the financial and industrial sectors.
The EuroTitres department of Natixis is no. 1 in France for custody services to retail and private banks, with a 25% market share*.
EuroTitres acts as custody agent or technical service provider for account managers; it manages the accounts for private clients of management firms.
The Department delivers a full range of customized custody services, based on:
back-office and middle-office services;
a multi-institution open architecture and scalable IT system;
web distribution tools (application for branches, front offices and middle offices – white label online trading for end-clients for placing orders and checking securities account).
2012 key figures*
Over 90 client institutions
4.12 million custody accounts
9.5 million operations processed
€219 billion of assets in custody
*source: Natixis
Contact
Vanessa Stephan
Global Head of External Communication at Natixis CIB, Groupe BPCE
See contact information