AccessFintech which delivers collaboration, transparency and control to
the financial services industry, announces today that it has extended
its partnership with J.P. Morgan to go live with a trade processing
solution to provide real-time transparency and workflow to the firm’s
J.P. Morgan’s Securities Services business is the first custodian to
collaborate with AccessFintech on the solution which provides real-time
transparency into trade lifecycle statuses, standardized commentary and
shared bi-directional workflow for buy-side clients. These real time
transaction statuses will significantly reduce the time needed to be
spent by buy-side operations teams to monitor multiple internal tools
and custodian portals. It reduces the need for calling brokers and
custodians to get updates.
The solution has been in bilateral testing with select buy-side clients
and is now in process of a global deployment. Following the
collaboration with J.P. Morgan’s Securities Services business,
AccessFintech will be extending the service to other custodians.
In order to use the product, clients can either leverage the
AccessFintech front end or integrate via APIs into their system of
choice. This integration therefore removes the traditionally difficult
task of connecting to numerous third-party portals.
This partnership is aimed at bringing together all the elements of the
post trade process in one consolidated view, in a timely and efficient
manner. It will enable clients to have an accurate view of their
portfolio including enriched and real time commentary on the status of
their transactions. This will ultimately drive risk management in their
“Through our partnership, we have been able to harness the power of the
J.P. Morgan franchise, thought leadership and strong client
relationships in developing an industry leading solution,” said Roy
Saadon, Co-Founder and CEO of Access Fintech. “J.P. Morgan has been a
pioneer in the collaboration and data transparency cycle, and providing
custodial data on an industry portal is yet another example of how the
market is changing to streamline processes across organizations. J.P.
Morgan’s innovation in offering new products and services to its clients
are the driving forces for such new operating paradigms”.
J.P. Morgan’s Securities Services business has been developing a single
end to end data integration framework which is breaking down the
barriers in the post-trade lifecycle for buy-side clients.
“Our strategic partnership with AccessFintech has been instrumental in
developing our new way of working,” said Teresa Heitsenrether, Global
Head of Securities Services, J.P. Morgan. “J.P. Morgan was an early
adopter of AccessFintech, and has been successfully testing its value
proposition throughout our business for over 6 months. Coupled with J.P.
Morgan’s industry leading operating model and workflow tools, with
Access Fintech’s cutting-edge technology, we are continuing to drive
industry change that position ourselves and our clients for the future.”
AccessFintech came through J.P. Morgan’s In-Residence Programme which
incubates emerging technology companies to develop production-ready
solutions solving for critical wholesale banking problems. Through this
early collaboration, AccessFintech was able to test at scale with a
number of J.P. Morgan’s businesses which has laid the groundwork for
this deeper collaboration.
AccessFintech is a leading financial technology company which is the
industry ‘exception’ portal, delivering control, transparency and
collaboration into the operating models of financial institutions.
AccessFintech’s system agnostic Global Exception Network service
provides intelligence through analysis of exceptions, association of
risks and enabling collaboration on resolution. Linking together
in-house technology, incumbent providers and fintech innovation enables
customers to view a full lifecycle of actions in a compressed,
prioritized and mutualized dashboard. The technology is designed in such
a way that clients can quickly and easily adopt the service without
significant resource allocation, enabling firms to control their risk
management practices while increasing the number of services consumed.
For further information please go to www.accessfintech.com.