Northern Trust and Saphyre Enhance Onboarding for Investment Operations Outsourcing Clients
Cloud-based application leverages Saphyre’s AI platform to automate information collection and sharing to support investment mandates
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221129005458/en/
Leveraging Saphyre’s patented AI technology to streamline operational support from pre-trade through post-trade is in line with Northern Trust’s Whole Office strategy, which integrates proprietary architecture with innovative companies. As enhancements are made over the next year,
Saphyre’s platform allows data to be entered once for simultaneous access by custodians, investment managers, asset owners and middle office teams supporting these accounts. The centralized data repository for all counterparties can reduce the potential for errors while shortening the lead time required to transition, open, and maintain accounts.
“The Saphyre ecosystem enables best practices and standardized communications across market participants, providing the surest path to increased straight-through processing, reduced exceptions, and cost savings,” said
Northern Trust’s Global Fund Services business provides services including fund administration, global custody, investment operations outsourcing and capital market revenue enhancement solutions to global investment managers – supporting a range of complex investment strategies across the full spectrum of asset classes.
About Saphyre
Saphyre leverages patented AI technology to digitize all pre-trade data and activities across multiple counterparties: from asset owners to investment managers, hedge funds to prime brokers, any client firms to broker-dealers and custodians and much more. Saphyre's platform maintains memory of data and documents, resulting in clients not having to search or resubmit information and expedites flow in a digitally structured manner so that it can be consumed and understood by any permissioned counterparty in the finance industry. This allows firms not only to assess risk faster but they can speed their onboarding processes, get real-time ready-to-trade statuses per account and eliminate 70%-75% of redundant or inefficient post-trade activities.
About
View source version on businesswire.com: https://www.businesswire.com/news/home/20221129005458/en/
Saphyre:
rlorenzen@fifthavenuebrands.com
John O’Connell
+1 312 444 2388
John_O’Connell@ntrs.com
Source: