Swiss wealth manager Credit Suisse has implemented AccessFintech’s trading exception management solution.
Dubbed Global Exception Network, the AccessFintech solution was adopted after a successful pilot phase.
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The solution is now accessible to financial market industry participants.
With the launch, Credit Suisse seeks to expedite the process of trade settlements and resolve exceptions swiftly. AccessFintech’s Global Exception Network utilises a technology platform to streamline trading workflows, ensuring additional control and transparency in the process.
The step is expected to reduce costs as well as improve client experience.
Credit Suisse head of Global Markets Strategic Investments Inessa Even said: “Through AccessFintech we are implementing a next generation client servicing solution, which has the potential to drive standardisation of virtually any multi-party operational workflow.
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By GlobalData“Credit Suisse made a strategic investment in AccessFintech last year because of the opportunity it presented to drive this type of infrastructure impact.”
AccessFintech CEO Roy Saadon 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 standardisation is important to maximise efficiencies across the market, and our open access exception management service is a great example of that.”
In recent years, Credit Suisse carried out a massive technological transformation.
In September this year, its subsidiary Credit Suisse Securities (Canada) selected Torstone Technology’s cloud-based post-trade processing platform Inferno to automate its equities operations.
Credit Suisse recently also merged its InvestLab B2B investment fund platform with Allfunds.
This June, Credit Suisse partnered with Hong Kong-based digital wealth manager Privé Technologies to enable the digital transformation of external asset managers (EAMs).
At the end of last year, Credit Suisse integrated Apple Business Chat into its private banking app.
