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RTTS Solution for Buy-Side at focus as J.P. Morgan-AccessFintech Partner

Roy Saadon, Co-Founder and CEO, Access Fintech

New-York-based Access Fintech which aims to deliver collaboration, transparency and control to the financial services industry, has announced that it has extended its partnership with J.P. Morgan in a bid to go live with a trade processing solution to provide real-time transparency and workflow to the firm’s buy-side clients.

According to the supplier, J.P. Morgan’s Securities Services along with Access Fintech will provide buy-side clients with transparency into trade lifecycle statuses, standardized commentary and shared bi-directional workflow. These real-time transaction statuses will significantly reduce the time needed to be spent by buy-side operations teams to monitor multiple internal tools and custodian portals. It reduces the need for calling brokers and custodians to get updates.

“Through our partnership, we have been able to harness the power of the J.P. Morgan franchise, thought leadership and strong client relationships in developing an industry-leading solution,” said Roy Saadon, Co-Founder and CEO of Access Fintech. “J.P. Morgan has been a pioneer in the collaboration and data transparency cycle, and providing custodial data on an industry portal is yet another example of how the market is changing to streamline processes across organizations. J.P. Morgan’s innovation in offering new products and services to its clients are the driving forces for such new operating paradigms”.

Following this partnership, Access Fintech plans on opening opportunities to other custodians.

The Access Fintech product will remove the need of connecting to numerous third-party portals, allowing clients to leverage the Access Fintech front end or integrate via APIs into their system of choice.

“Our strategic partnership with Access Fintech has been instrumental in developing our new way of working,” said Teresa Heitsenrether, Global Head of Securities Services, J.P. Morgan. “J.P. Morgan was an early adopter of Access Fintech, and has been successfully testing its value proposition throughout our business for over 6 months. Coupled with J.P. Morgan’s industry-leading operating model and workflow tools, with Access Fintech’s cutting-edge technology, we are continuing to drive industry change that position ourselves and our clients for the future.”

Established in 2016, AccessFintech came through J.P. Morgan’s In-Residence Programme which incubates emerging technology companies to develop production-ready solutions solving for critical wholesale banking problems. Through this early collaboration, AccessFintech was able to test at scale with a number of J.P. Morgan’s businesses which has laid the groundwork for this deeper collaboration.

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