Credit Suisse goes live with AcesssFintech’s global exception network
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Credit Suisse goes live with AcesssFintech’s global exception network 27 November 2019London Reporter: Becky Bellamy
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Credit Suisse has gone live with AccessFintech's Global Exception Network, to help streamline exception management resolution across the prime brokerage industry.
The new technology will reduce the time needed to resolve exceptions and help remove obstacles that could prevent trade settlements.
The exception management solution, which is now accessible to financial market industry participants, leverages a technology platform that standardises and simplifies trading workflows across the buy and sell side, enabling greater control, cost reduction, transparency and collaboration to proactively address trade settlement issues.
Inessa Even, leader of global markets strategic investments at Credit Suisse, commented: "Through AccessFintech we are implementing a next-generation client servicing solution, which has the potential to drive standardisation of virtually any multi-party operational workflow. Credit Suisse made a strategic investment in AccessFintech last year because of the opportunity it presented to drive this type of infrastructure impact."
Roy Saadon, CEO of AccessFintech, said: "The existing settlement process involves many participants and is highly complex, bi-lateral and inefficient. The impact of this is due to increase with the enforcement of the forthcoming Central Securities Depositories Regulation. Industry standardisation is important to maximise efficiencies across the market, and our open access exception management service is a great example of that. We are excited to be working with Credit Suisse on this effort."
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