Luxembourg funds: 5 indicators of efficient onboarding

Onboarding, CDD and AML protocols – especially in jurisdictions like Luxembourg to combat financial crime – can have a reputation for being tedious and frustrating experiences. But that doesn’t have to be the case.

Tags: International, International banking, Administration
Published: April 14, 2021

Here are five qualities to look for in an administrator that indicate you may be in for a seamless, streamlined process.


1. Deep experience with onboarding, CDD and AML

A tenured team understands exactly what local regulatory and internal-policy-required documentation they need for customer due diligence (CDD), anti-money laundering (AML) and financial sanctions compliance. Obtaining everything upfront, at the start of the process, reduces inefficient back-and-forth requests that add work and place additional demands on your and your customers’ time.


2. Jurisdictional expertise

Onboarding should be a light touchpoint activity – with your administrator engaging you infrequently and only when necessary. To achieve this, you want professionals who are proficient in multiple jurisdictions and who understand the nuances of AML requirements, regulations, structure types and required documents.


3. Breadth of infrastructure and resources

By choosing an organization with broad resources and an international infrastructure, you can expect streamlined processes and a standardized approach to onboarding.

“A successful service provider has systems in place to adhere to all required standards,” says David Sload, managing director of Luxembourg for U.S. Bank. “This gives you confidence that you know your customers and that you’re adhering to those standards as well.”


4. Advanced technology and capabilities

A technology-focused provider will have a sophisticated framework to check, monitor and assess risk during the onboarding process in an efficient fashion. They’re able to examine potential client pain points and develop flexible solutions that adapt as needs evolve while remaining compliant with policies and regulations – and therefore assist in combatting financial crime. This can produce faster turnarounds and smoother interaction overall.


5. An obvious desire for client service excellence

"Find a provider that prioritizes the client experience, and you can rest assured they’ll do everything in their power to make onboarding as smooth and seamless as possible,” says Didier Delvaux, country head of Luxembourg for U.S. Bank.

Look for a team that’s accessible, available and adaptable – but that also has the infrastructure, technology and expertise to support their commitment to your needs.



For more information on the spectrum of fund servicing solutions offered by U.S. Bank, visit



U.S. Bank Global Fund Services is a wholly owned subsidiary of U.S. Bank, N. A.
U.S. Bank Global Fund Services (Ireland) Limited is registered in Ireland with the Companies Registration Office Reg. No. 413707 and Registered Office: 24-26 City Quay, Dublin 2, Ireland. U.S. Bank Global Fund Services (Ireland) Limited is authorised and regulated by the Central Bank of Ireland under the Investment Intermediaries Act, 1995.
U.S. Bank Global Fund Services (Guernsey) Limited is licensed under the Protection of Investors Law (Bailiwick of Guernsey), 1987, as amended by the Guernsey Financial Services Commission to conduct controlled investment business in the Bailiwick of Guernsey.
U.S. Bank Global Fund Services (Luxembourg) S.a.r.l. is registered in Luxembourg with RCS number B238278 and Registered Office: Floor 3, K2 Ballade, 4, rue Albert Borschette, L-1246 Luxembourg. U.S. Bank Global Fund Services (Luxembourg) S.a.r.l. is authorised and regulated by the Commission de Surveillance du Secteur Financier.
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