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July 1, 2022

BNY Mellon’s Pershing adds new features to CAIS platform

BNY Mellon’s Pershing has enhanced the CAIS platform with a number of new updates to streamline alternative investing for financial advisers.

The updates include features that seek to improve alternative investment product access and order processes to help broker-dealers and financial advisors allocate to new asset classes on behalf of their clients.

CAIS founder and CEO Matt Brown said: “Outdated manual processes have been one of the major barriers to alternative investment fund allocation for the independent wealth management community.

“As access to alternatives goes mainstream, our collaboration with Pershing highlights CAIS’s ongoing commitment to supporting advisors as they transact, and report on, the full spectrum of alternative investments.”

The features added to the CAIS platform include the automation of submitting order forms, facilitated by API connectivity between CAIS and Pershing’s NetX360 investment platform.

This eliminates the need for manual order entry and is expected minimise the risk of transfer errors or lost forms while enhancing data security.

BNY Mellon’s Pershing Global Strategy and Product Management director Justin Fay said: “We are pleased to expand on this partnership with CAIS that will enhance the alternative investing capabilities being offered to advisors.

“As investor demand for alternatives continues to grow, our priority is to make all aspects of the process more efficient and less time consuming.”

The updates build on CAIS’ existing partnership with Pershing, which automated manual transaction and documentation processes.

The firm also launched a single sign-on (SSO) for broker-dealers and RIAs working with Pershing.

This April, CAIS raised $100m in financing from Reverence Capital Partners to further invest in technology, digitise product operations for fund managers and financial advisers, and improve personalised experiences for its customers.

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