Cappitech has partnered with the financial technology company AccessFintech, to deliver greater governance and risk controls for market participants by providing their combined solution to clients across the market.
According to AccessFintech, one of the key enhanced services is its exception management solution across trading workflows, as well as Cappitech’s platform which offers multi-jurisdiction transaction reporting and analytics.
The new partnership will cover the regulatory evolution from the European Market Infrastructure Regulation through North America and Asian governance, to the second Markets in Financial Instruments Directive (MiFID II) and the Securities Financing Transactions Regulation.
The data distribution capabilities of AccessFintech will help to drive the regulatory processing provided by Cappitech, which will offer banks a “seamless way of accessing new technologies” using the same workflow engine.
AccessFintech recently launched its Global Exception Network with a settlement workflow solution with Citi, Credit Suisse, Goldman Sachs and J.P. Morgan.
Cappitech highlighted that it is addressing regulatory challenges to help reduce operational risk and costs while simultaneously providing instant intelligence on business operations for users.
Roy Saadon, CEO of AccessFintech, commented: “I am excited by our alliance – the technology delivery of our products with those of Cappitech’s is seamless across the whole lifecycle. We want to eliminate context switching: the industry has too many screens, too much switching. We want to provide a much smoother interaction and a frictionless flow of data. I believe there is a huge appetite for this new type of collaboration, with shared domain and knowledge transfer.”
Ronen Kertis, CEO of Cappitech, added: “We have a similar approach, and moreover a similar user experience, making it attractive for our clients to be able to access both suites of solutions.”
The collaboration is an extension of the firms’ existing partnership to deliver MiFID II solutions to the market, announced in 2017.