Capco has partnered with AccessFintech to improve the engineering and delivery of the latter’s data management and workflow solution.
The two fintech firms pointed out the importance of banks, brokers, custodians, and buy-side firms ensuring that they deliver efficient technology platforms in the current competitive regulatory environment.
This can be difficult for some as legacy systems contain fragmented data and time-consuming manual processes, leading to increased costs and liquidity risks. It is therefore also important for companies to modernize their internal systems and processes.
Capco and AccessFintech’s partnership aims to address this through joint engineering solutions to encourage faster workflow adoption and change management.
It will also help companies overcome operational and regulatory compliance challenges, particularly the upcoming Central Securities Depositories Regulation (CSDR) system, Interbank Offered Rate (IBOR) reconciliation, pre-matching and settlements, and cash confirmations .
In the partnership, AccessFintech’s Synergy Network has capabilities for expanding and enriching data as well as for synchronizing work processes and enables a technology-driven operational transformation for transaction lifecycle management.
Capco’s experience in transformation projects will optimize the integration of customer operations with the Synergy Network.
Owen Jelf, Partner and Global Head of Capital Markets at Capco, says: “By bridging the gap between legacy and modern systems, innovative solutions like the Synergy Network accelerate these paths and deliver cost-effective and highly controlled rule-based process environments.”
Boaz Zilberman, Executive Vice President of Business Development at AccessFintech, added: “We are already successfully processing more than a billion transactions per month. The coupling of Capco’s industry-specific technology and operational change management and deployment know-how with our Synergy network and our platform is an important accelerator for the operational and technology transformation of our customers. ”
