NEW YORK, June 8, 2021 / PRNewswire / – BNY Mellon and Saphyre today announced that companies are working together to use AI technology to revolutionize the customer experience and dramatically automate and accelerate customer onboarding. This collaboration supports BNY Mellon’s OMNISM strategy of working with top fintech organizations to innovate and support clients’ investment goals.
Saphyre’s platform enables seamless communication between customers and priority stakeholders by augmenting traditional communication channels, such as email, fax and phone calls. This integration between the two organizations enables more streamlined communication, reducing time to market funds, enabling more efficient cross-border transactions and improving the customer experience.
“Time is a finite and precious commodity. BNY Mellon’s work with Saphyre is aimed at creating real savings for our conservative clients and really speeding up the client onboarding process. What used to take days or weeks, is now almost in real time. This is yet another example of the digitization efforts BNY Mellon has undertaken over the past two years with direct benefit to the customer, ”said caroline butler, Global Head of Custody at BNY Mellon.
“To have BNY Mellon join the Saphyre company is a great honor. By applying our patented technology to their core asset management operations, we have demonstrated our ability to intelligently pre-populate client retention packs, authorize digital signatures, automatically configure SWIFT reports, Trade message routing and standing instruction of corporate actions – while intelligently and dynamically following market demands and their respective statuses. In a post-COVID world where AI and digital are paramount, BNY Mellon fully embraces the innovation mandate, ”said Gabino M. Roche, Jr., CEO and founder of Saphyre.
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About BNY Mellon
BNY Mellon is a global investment firm dedicated to helping clients manage and maintain their financial assets throughout the investment lifecycle. Whether providing financial services to institutions, corporations or individual investors, BNY Mellon provides informed investment and wealth management and investment services in 35 countries. From March 31, 2021, BNY Mellon had $ 41.7 trillion in assets under custody and / or administration, and $ 2.2 trillion in assets under management. BNY Mellon can serve as a single point of contact for clients looking to create, negotiate, own, manage, maintain, distribute or restructure investments. BNY Mellon is the corporate mark of Bank of New York Mellon Corporation (NYSE: BK). Further information is available at www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our press room at www.bnymellon.com/newsroom for the latest company news.
About Saphyre, Inc.
Saphyre relies on patented AI technology to digitize all pre-trade activities of multilateral counterparties: asset owners, investment managers / hedge funds, brokers, custodians / prime brokers. Saphyre’s platform preserves data and document memory, eliminating the need for customers to search or resubmit information, and speed up the flow in a digitally structured way so that it can be used and understood. by any authorized counterparty in the financial sector. This not only allows companies to assess risk more quickly and clearly, but they can also speed up their onboarding processes and eliminate 70-75% of redundant or inefficient post-trade activity.
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SOURCE BNY Mellon