Finastra partners with Xceptor to automate its securities market offering
Solution will enable Fusion Markets customers to reconcile transactions and positions with third parties regardless of format
London, UK, June 26, 2019 - Finastra announced today that it has partnered with Xceptor, an intelligent automation software company, to offer new reconciliation functionality to its securities market customers. Thanks to an out-of-the-box reconciliation functionality, Finastra’s Fusion Markets customers will now be able to automatically reconcile and validate transactions and positions data, including harder-to-handle formats, in a single solution resulting in reduced manual workloads, exceptions and breaks, and improved accuracy and speed.
Xceptor is an automation platform that extracts and transforms any type of data from any source. Xceptor will enable reconciliation to handle the use case of integrating and reconciling transaction and positions data, including Swift MT 53x, with Finastra’s Securities Inventory solutions.
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, 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.”
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.”
Finastra unlocks the potential of people and businesses in finance, creating a platform for open innovation. Formed in 2017 by the combination of Misys and D+H, we provide the broadest portfolio of financial services software in the world today—spanning retail banking, transaction banking, lending, and treasury and capital markets. Our solutions enable customers to deploy mission critical technology on premises or in the cloud. Our scale and geographical reach means that we can serve customers effectively, regardless of their size or geographic location—from global financial institutions, to community banks and credit unions. Through our open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers. 90 of the world’s top 100 banks use Finastra technology.
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