Partnership will drive delivery of AccessFintech’s data and workflow solution
LONDON, NEW YORK & TEL AVIV, July 26 2021 – Capco, the global technology and management consultancy, and AccessFintech, the leading fintech company evolving the financial industry operating model through collaborative workflow, today announced a partnership that brings together AccessFintech’s data management and workflow solution with Capco’s proven delivery and engineering expertise in the financial services space.
As they address new regulations and heightened competition, banks, brokers, custodians and buy side firms remain focused on delivering efficiency improvements and enhancing their technology platforms. However, fragmented or partial data and cumbersome manual processes arising from legacy systems mean increased costs and liquidity risk. At the same time, firms are also increasingly looking to modernise their internal processes and systems.
By allowing for faster workflow adoption and change management via joint engineering solutions, this new partnership will support firms in addressing challenges around operations and regulatory compliance, including areas such as the incoming CSDR regime, IBOR reconciliation, pre-matching and settlements, and cash payment affirmations.
AccessFintech’s Synergy Network extends and enriches data, synchronizes workflow and enables technology-driven operations transformation, providing innovative and efficient transaction lifecycle management and benchmarking insights across the entire financial ecosystem. Capco’s experience in delivering transformation projects will accelerate the pace at which clients can integrate their operations with the Synergy Network to benefit from the additional transparency and certainty it offers.
Owen Jelf, Partner & Global Head of Capital Markets at Capco, said: “Whether for regulatory, risk, efficiency or cost purposes, financial institutions are actively pursuing global transformation journeys to achieve overall process simplification and a streamlining of their technology ecosystems. 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.”
AccessFintech’s EVP Business Development Boaz Zilberman said: “AccessFintech is already working with a critical mass of significant financial institutions and is 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.”
Capco is a global technology and management consultancy specializing in driving digital transformation in the financial services industry. With a growing client portfolio comprising of over 100 global organizations, Capco operates at the intersection of business and technology by combining innovative thinking with unrivalled industry knowledge to fast-track digital initiatives for banking and payments, capital markets, wealth and asset management, insurance, and the energy sector. Capco’s cutting-edge ingenuity is brought to life through its Innovation Labs, and award-winning Be Yourself At Work culture and diverse talent. To learn more, visit www.capco.com or follow us on Twitter, Facebook, YouTube, LinkedIn, Instagram, and Xing.
AccessFintech’ Synergy Network enables optimization of cross organization processes. Achieved through collaboration, the use of data, workflow and shared technology access. By enabling users to collaborate on data, it drives the uses of technology to transform operations to simplify and speed workflows, reduce liquidity risk, and provide valuable benchmarking insights across the financial ecosystem. At its core is the AccessFintech Synergy Network, a modern and secure collaboration network that facilitates 3 key capabilities across the financial ecosystem: data collaboration at scale with more visibility into transaction data and access to benchmarking insights. Workflow optimization to speed and simplify transactions through digital automation, resolution and decision-making in one place. And technology distribution providing connectivity to new technologies and reducing the cost of ownership for all. The company has a self-service ethos, where risk is mutualized, and there is better, more enlightened decision making across organizations and functions. AccessFintech’s Synergy Network is built with leading financial institutions with a critical mass of data, participants and solutions where more than a billion transactions are now being processed every month on the network. For further information please go to accessfintech.com or follow us on LinkedIn or Twitter.
Don Hunter, Eterna Partners