Finastra has announced 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, optimise 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, commented:
“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.”