Credit Suisse Goes Live with AccessFintech’s Global Exception Network
LONDON, Nov. 26, 2019 /PRNewswire/ -- Credit Suisse announces the internal launch of AccessFintech’s trading exception management solution.
Following a successful pilot, Credit Suisse has gone live with AccessFintech’s Global Exception Network, taking an important step towards streamlining exception management resolution across the Prime Brokerage industry. The new technology will reduce the time needed to resolve exceptions and help clear bottlenecks that could prevent trade settlements. It will promote better client servicing, minimize sanctions and reduce costs for all parties.
This exception management solution is now broadly accessible to financial market industry participants. It leverages a next generation technology platform that standardizes and simplifies trading workflows across the buy and sell side, thereby enabling greater control, cost reduction, transparency and collaboration to proactively address trade settlement issues. As the AccessFintech network grows, the time required to resolve operational trading issues across the industry will be reduced, while the standard of client service will continue to improve.
Inessa Even, who leads 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 standardization 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 forthcoming Central Securities Depositories Regulation. Industry standardization is important to maximize 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.”
About Credit Suisse AG
Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). Our strategy builds on Credit Suisse’s core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 47,440 people. The registered shares (CSGN) of Credit Suisse AG’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
Copyright © 2019 Credit Suisse Group AG and/or its affiliates. All rights reserved.
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 firm to control their risk management practices while increasing the number of services consumed.
For further information please go to www.accessfintech.com.
SOURCE Credit Suisse