Saphyr, the US-based fintech that provides solutions for pre-trade setups and post-trade issues, hosted Legal and General Investment Management (LIGM) to its network of partner financial institutions.
LGIM has joined Saphyre’s patented Endeavor platform – an AI-powered solution that will manage their funds onboarding and maintenance as well as their brokers’ legal contract and compliance management.
Saphyre’s Patented AI-Based Platform Expands the Financial Ecosystem
Saphyre’s main goal is to leverage patented AI technology to digitize all pre-trade data and activity across multiple counterparties. These range from asset owners to investment managers, hedge funds to prime brokers, all corporate clients to brokers and custodians, and more.
Another key feature of Saphyre’s platform is that it maintains a memory of data and documents, eliminating the need for customers to search or resubmit information. This, the fintech says, “accelerates the flow in a digitally structured way so that it can be consumed and understood by any authorized counterparty in the financial industry.”
According to reports, Saphyre’s automated intelligence is also capable of tracking compliance-related activities, such as NAV terminations, contained in the respective ISDA and GMRA agreements. In a statement released by the fintech, it said the Endeavor platform automates compliance checks for trading as a byproduct of legal agreement setups and changes. The statement also says that automated processes “reduce risk and inefficiencies by eliminating manual tasks for buyers and sellers, saving time and reducing costs.”
Speaking of connecting LGIM to the network, Stephane Roche, President and Co-Founder of Saphyre, said, “It is exciting to officially announce that LGIM is part of the Saphyre platform. We’ve been working with them since the beginning, in fact, when Gabino and I started this business. »
He added, “LGIM’s customers and counterparties will benefit from the advantages offered by Saphyre’s platform.