CSCS unveils Regconnect Version 2: Revolutionizing data exchange for registrars
Central Securities Clearing System CSCS
Central Securities Clearing System (CSCS) Plc has announced the launch of RegConnect Version 2, set to go live on February 28, 2025. This is a cutting-edge upgrade to its flagship web-based application designed to enhance operational efficiency and user experience for Registrars in the Nigerian capital market.
It said in a statement that RegConnect Version 1 was launched in 2019, and it provided an easy-to-use platform that improved the user experience of Registrars when exchanging information. By enabling immediate validation of submitted data, it ensured accuracy and reduced processing times. Now, RegConnect Version 2 takes this innovation further, setting a new benchmark for efficiency and functionality.
RegConnect Version 2 introduces several advanced features that redefine user experience and operational efficiency. The platform now includes omni-channel capability, allowing users to submit transactions through multiple channels such as file uploads, on-screen interfaces, and APIs.
The upgraded version also offers seamless API integration, enabling the retrieval of investor portfolio balances, processing of transactions, and spooling of daily advice files. A monitoring dashboard has been added to provide an end-to-end view of data exchange processes, ensuring real-time tracking and improved operational efficiency.
Haruna Jalo-Waziri, MD/CEO of CSCS Plc, emphasized the company’s commitment to driving innovation in the capital market. “The launch of RegConnect Version 2 represents our unwavering dedication to transforming the Nigerian capital market through technology-driven solutions. This new iteration of RegConnect aligns with global best practices and is a testament to our continuous investment in efficiency and stakeholder satisfaction.”
Designed after an extensive review of CSCS’s operations and interactions with Registrars, RegConnect Version 2 addresses critical industry challenges. Prior to RegConnect, Registrars relied on a Data Exchange application with limited processing capabilities. The new platform not only bridges that gap but also introduces state-of-the-art features to ensure seamless and efficient data exchange.
Mr Jalo-Waziri added “At CSCS, we understand the importance of operational excellence and innovation in fostering a vibrant capital market. RegConnect Version 2 is not just a product upgrade; it is a tool to enhance accuracy, reduce operational bottlenecks, and empower our stakeholders with better control and visibility over their processes.”
