Andrew Kouloumbrides, CEO at Xceptor

Finastra has partnered with UK-based intelligent automation software company Xceptor, in a bid to offer new reconciliation functionality to its securities market customers. The partnership will enable Finastra’s Fusion Markets customers to automatically reconcile & validate transactions as well as positions data. The solution aims to provide a reduction in manual workload and improve the delivery of work.

Andrew Kouloumbrides, CEO at Xceptor said, “Xceptor excels at handling messy data. Checking and reconciling internal positions against multiple external third parties from trade repositories to clients typifies that challenge. It is a high volume, a high-value activity that needs attention and this new reconciliation functionality will enable Finastra customers to overhaul, optimize and automate their positions reconciliation process. We are continuing to explore new opportunities with Finastra and are looking forward to extending our relationship further in the near future.”

Established in 2003 in London, Xceptor provides data-centric intelligent automation software. It extracts and transforms data from any source. It aims to enable reconciliation for handling the use case of integrating and reconciling transactions and positions data.

Michael Henssler, General Manager, Treasury, Capital Markets and Risk, at Finastra said, “The securities services industry is fragmented, and traders are operating in a more complex and regulated market. Our customers need better transparency to transform traditionally complex data and processes into simple usable business insights. Xceptor is a specialist in its field and we’re delighted to offer their in-depth knowledge and capabilities to our securities customers.”

Recently, Berkshire Bank of Massachusetts has selected Finastra’s payments solution Fusion Global PAYplus in a bid to upgrade its payments technology and introduce real-time payments capabilities

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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