J.P. Morgan, Access FinTech Extend Partnership
J.P. Morgan and AccessFintech extend partnership
with real-time transaction status solution for the buy-side
The solution is live and drives post-trade operational efficiencies for buy-side institutions
London and Tel Aviv: June 12, 2019 – 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 buyside clients.
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 settlement process.
“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.
Project Ion has shown that T+1 or T+0 settlement are effective use cases for DLT.
Jump Trading is undergoing its next evolution with the rise of open protocols and DeFI.
Clients can trade crypto plus stocks, options, futures, bonds, mutual funds and ETFs from a single screen.
Increased electronification has created useable and accessible real-time and historic trade data.
The fintech uses data so institutions can assess the environment impact of their portfolios.