Latest funding round brings the total capital raised by the fintech to $97 million since 2018.
Initiatives focused on securities settlements between the two dealers, with specific emphasis on European markets as a prelude to the recently implemented CSDR regulation.
Trade settlement fail penalties are high following CSDR rollout, so should the buy-side be receiving more credits?
Banks are being hit with up to €5 million in CSDR penalties per month as settlement rates deteriorate, says expert, who points out that credits should be trickling down to the buy-side.
Incoming head brings over 30 years’ experience in investment banking to AccessFintech, having spent almost two decades at JP Morgan.
FinTech firms Broadridge and AccessFintech align to resolve multi-party settlement fails through new solution.
Previous investors JP Morgan, Citi and Goldman Sachs also contributed to the round, taking the total raised by AccessFintech to $37 million since 2018.
The launch of the platform marks the latest success for AccessFintech, which originated from JP Morgan’s FinTech incubator and went live just six months ago.
AccessFintech's solution will help Credit Suisse avoid errors in the settlement process and comply with the upcoming settlement discipline regime.
Roy Saadon’s risk management company AccessFinTech was launched in 2017.