Credit Suisse picks Torstone’s Inferno for back-office services
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Credit Suisse picks Torstone’s Inferno for back-office services 05 September 2019London Reporter: Jenna Lomax
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Credit Suisse Securities (Canada) has selected Torstone Technology’s post-trade processing platform, Inferno, to replace the firm’s existing third-party outsourced platform and service.
Inferno provides a fully integrated experience for middle- and back-office staff, increasing straight-through processing and reducing manual effort.
According to Torstone, consolidating processes on its software as a service platform will also provide Credit Suisse with access to Torstone’s service model, resulting in the reduced total cost of ownership.
Brian Collings, CEO of Torstone said: “Our relationship with Credit Suisse proves again Torstone’s ability to quickly enter new markets, underscoring the dynamic and flexible nature of our cloud-based platform.”
Commenting on the announcement, Sam Farrell, director and head of operations at Credit Suisse Canada and Bahamas, added: “We decided to move to Inferno and bring our operational processing back in house in order to leverage a cloud-based, cross-asset platform, providing us greater transparency and control over our business, and presenting an opportunity to reduce our total cost of ownership.”
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