Dealing with client funds requires from a licensed firm implementation of a wide range of internal controls prescribed by the applicable regulator as does FCA in the UK in its CASS. Some types of client funds are considered an exempt from the safeguarding account regime. Clear Junction offers Omnibus Account for holding of such funds.

Clear Junction Omnibus Account offer the following benefits:
Ease of dealing with the client funds
Ease of dealing with the client funds: The highly regulated activity of holding of client funds is shifted to an authorized partner. Scalability in terms of number of clients and supported currencies
Access to payment services
Access to payment services: Wide range of the payment services offered by Clear Junction can be used for making payments to and from the Omnibus Accounts
Rich APIs for management for the e-money accounts
Rich APIs for management for the e-money accounts: Opening, closing, transfer instructions, reporting etc here
Optional management of the internal records reflecting the distribution of the funds among the firm’s clients