Seccl Technology
Seccl Technology provides custody and investment technology services, offering digital tax wrappers and paperless platforms for financial advisers, neobanks, fintechs, and wealthtechs. Acquired by Octopus in 2019, Seccl handles over 1.5 million daily API requests and manages assets worth £12.8 billion.
Services
Seccl Technology specializes in providing custody and investment technology services. Their offerings include digital tax wrappers such as ISA, JISA, and SIPP. They provide professional and client portals for launching paperless platforms and offer a range of services tailored to financial advisers, adviser tech providers, neobanks, established fintechs, and start-up wealthtechs. Additionally, they support integrations with market-leading CRMs like IO and Curo.
Products
Seccl Technology offers a diverse range of investment products and wrappers including GIA, ISA, JISA, and SIPP. They provide a fully automated, paperless drawdown SIPP and a fully digital accumulation pension. Additionally, they support integrations with third-party products like Offshore Bonds and SSAS. Clients can benefit from their developer-friendly API, which allows for custom integrations and robust functionality.
Technology and Infrastructure
Seccl Technology processes over 1 million API requests daily and offers a fully documented API handling over 1.5 million daily requests. They provide instant payments via Open Banking and have a paperless platform solution that eliminates the need for an in-house tech team. With a low-cost, hyper-efficient investment infrastructure, Seccl supports nearly 10,000 investors per operations team member. Their platform is designed to be scalable and affordable, built to meet future demands.
Custody Fees and Charges
Seccl Technology offers a low-cost custody fee starting at 0.1%, with the fee tiering down to zero for larger portfolios. There is a minimum custody charge of £75,000 per year in the first year, rising to £150,000 per year from the second year onwards. This pricing structure provides transparency and affordability, ensuring clients understand the costs involved with using their services.
Company History
Seccl Technology was acquired by Octopus in September 2019. The company supports the rapid and affordable launch of new investment platforms. As part of the Octopus Group, which manages over £12.8 billion in assets, Seccl has a solid foundation and backing. Their innovative approach enables them to handle substantial transaction volumes, with 5.4 million transactions processed in the last 12 months.