Capco and AccessFintech partner over data workflow solution
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Capco and AccessFintech partner over data workflow solution 26 July 2021UK Reporter: Rebecca Delaney
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Capco has partnered with AccessFintech to enhance the engineering and delivery of the latter’s data management and workflow solution.
The two fintech companies noted the importance of banks, brokers, custodians and buy-side firms ensuring they provide efficient technology platforms in the current competitive regulatory environment.
This can be difficult for some as legacy systems carry fragmented data and time-consuming manual processes, causing increased costs and liquidity risk. Therefore, it is also important for companies to modernise their internal systems and processes.
Capco and AccessFintech’s partnership aims to address this through joint engineering solutions to encourage faster workflow adoption and change management.
It will also assist companies to navigate challenges around operations and regulatory compliance, particularly the approaching Central Securities Depositories Regulation (CSDR) regime, Interbank Offered Rate (IBOR) reconciliation, pre-matching and settlements, and cash payment affirmations.
In the partnership, AccessFintech’s Synergy Network has capabilities to extend and enrich data, as well as synchronise workflow and enable technology-driven operations transformation for transaction lifecycle management.
Capco’s experience in transformation projects will streamline client operations integration with the Synergy Network.
Owen Jelf, partner and global head of capital markets at Capco, says: “By bridging the gap between legacy and modern systems, innovative solutions such as the Synergy Network accelerate those journeys and deliver cost effective and highly controlled rules-based process environments.”
Boaz Zilberman, executive vice president of business development at AccessFintech, adds: “We are already successfully processing more than a billion transactions a month. Coupling Capco’s industry benchmark technology and operations change management and delivery expertise with our Synergy Network and platform is an important accelerator of our clients’ operation and technology transformation.”
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