What are the main benefits of using Cygnetise?
• Reduce potential fraud through misuse of your authorised signatory lists
• Significantly reduce your time and cost in compiling and distributing authorised signatory lists
• Maintain a trustworthy, auditable log of all changes to the authorised signatory lists
• Permission those counterparts whom you wish to access your encrypted authorised signatory lists
How does Cygnetise help to reduce fraud?
• The time lag for lists to be updated is eradicated, reducing the window of opportunity for fraud
• The audit gives you full access to timestamped changes to your lists
• When your counterparts access the authorised signatory lists via the platform, there is no opportunity to tamper with your lists
How does Cygnetise save our organisation money?
• Reduction in operational losses due to fraud
• Reduction in cost of maintaining lists due to time savings
• Reduction in cost of distributing lists
What will it mean for my customers and counterparts?
• It is free for your counterparts to view your lists via the platform.
• For those counterparts not willing to change, you can share your authorised signatory lists in the same way as you do now i.e. via PDF.
Other counterparts who are keen to embrace more secure forms of sharing your authorised signatory lists, this can be done two ways:
• Your lists can be distributed with two ways: via the platform or a real time PDF link or existing PDF format (this last way being your existing format)
• You can include a customised cover sheet with detailed signing responsibilities as per your current process
If I send my counterparts the PDF link, will they see changes that I make?
Yes, any changes you make are seen by your counterpart who has an active link, which you have given them. This removes the need for unnecessary emails to notify counterparts of updates.
How much does Cygnetise cost?
Cygnetise charge an annual subscription, per list dependent on its size.
For a single list with less than 5 people the cost is £120 per year
Is there a bulk discount if I am managing a large number of lists?
Yes, please call +44 203 598 3806 or contact email@example.com for a more detailed discussion
Can I have multiple administrators assigned?
Does Cygnetise have an authorisation process for changes to our list?
Yes, an optional "Four Eyes" process is available
Is there a limit to the number of lists / entities that I can manage via Cygnetise?
Where is the data stored?
Data is stored in the cloud on a private blockchain
How does blockchain improve this process?
• Removes the need for a 3rd party administrator
• Enables a private, peer to peer data sharing network
• Provides an immutable audit trail of all interactions with your lists
• Maintains a far more secure level of encryption and permissioning not present in other peer to peer databases
• The database storing the data on Cygnetise is decentralized, offering far greater security and redundancy functions