CSCS Launches Upgraded RegConnect Version 2 to Improve Data Exchange for Registrars
The Central Securities Clearing System Plc (CSCS) has unveiled an enhanced version of its web-based application designed to streamline operations and improve user experience for registrars within Nigeria’s capital market. In a statement released on Tuesday, CSCS announced that RegConnect Version 2 would go live later this month, aiming to address operational inefficiencies and provide a more robust platform for users.
RegConnect Version 1, initially launched in 2019, significantly improved data exchange by enabling the immediate validation of submitted data, thus reducing processing times and ensuring accuracy. However, the newly upgraded Version 2 introduces advanced features, including omni-channel capabilities for transaction submissions through file uploads, on-screen interfaces, and APIs. This addition expands the platform’s flexibility, offering multiple avenues for data entry and improving overall operational efficiency.
The updated platform also introduces API integration, allowing users to retrieve investor portfolio balances, process transactions, and generate daily advice files more effectively. Additionally, a new monitoring dashboard has been incorporated, providing real-time tracking of data exchange processes for enhanced transparency and operational control. These features are expected to greatly improve the workflow for registrars, making the platform more aligned with global best practices.
Haruna Jalo-Waziri, CSCS’s Managing Director/CEO, emphasized the company’s commitment to transforming the Nigerian capital market through innovative, technology-driven solutions. He highlighted that the platform’s development came after a thorough review of CSCS’s operations, ensuring that RegConnect Version 2 effectively addresses industry challenges and enhances stakeholder satisfaction.
SOURCE: PUNCH