Case study: Paying Agent for UK M&A
Streamlining mass payments for hundreds of shareholders
“You and your team have been exceptional. Thank you for your responsiveness and support throughout, which has made dealing with the payment efficient and painless for us. Thank you also for accommodating the prioritisation of the payments and your efforts in setting these up in advance - the clients are very pleased to have received their funds.”
Deal overview
Sale and purchase of a majority of the issued share capital of a Jersey-based holding company
High value: £420 million
High volume: 330 payees involved
Multiple Stakeholders: Majority, minority, HoldCo and other investors
Hundreds of Shareholders
Undertaking verification and KYC for 330 payees is a time-consuming task that brings significant risk. The law firm required support to reduce this risk, save time, and ensure ease of use for all payees involved.
Automated verification and disbursement
Shieldpay’s solution allowed for seamless verification and collection of payment details for a large volume of payees. Using basic initial data (names and email addresses), the verification process was made easy for payees with a streamlined, digital journey that maximises security and data collection for a smoother, faster process, saving time and effort for fee earners, allowing them to focus on billable activities. Meanwhile status updates, notifications and visibility of the payment project, including real-time payment tracking ensured that the parties to the deal were kept informed and that progress could be easily monitored.
Responsive payments, happy client
By partnering with Shieldpay, the firm achieved substantial time savings in collecting and verifying bank details, while significantly reducing the regulatory and security risks associated with disbursing payments to hundreds of payees. The verification process for payees was completed in around 30 seconds, leading to a positive experience for the client.
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