Franklin Templeton Joins Saphyre Initiative to Streamline Client Onboarding Across Custodians and Brokers
Franklin Templeton has partnered with Saphyre and J.P. Morgan to enhance the onboarding and maintenance of its funds using Saphyre's AI platform. This collaboration aims to digitize account setups, increasing operational efficiency and reducing risks associated with manual processes. Franklin Templeton's Vice President highlighted the initiative as a means to improve service quality and client satisfaction. With an estimated $1.4 trillion in assets under management, this strategic move is poised to optimize the onboarding process across custodians and brokers, benefiting the entire financial industry.
- Collaboration with Saphyre enhances operational efficiencies in fund onboarding.
- Reduction of manual tasks leading to cost savings and improved service levels.
- Improved client satisfaction through digitization of account setup processes.
- None.
In partnership with J.P. Morgan, Franklin Templeton leverages Saphyre's patented AI platform for the onboarding and maintenance of its funds.
HOBOKEN, N.J., Oct. 11, 2022 /PRNewswire/ -- Saphyre, a fintech company using patent-approved AI technology to solve pre-trade setups and post-trade issues, announces that Franklin Templeton has joined the community of financial institutions using the Saphyre platform for custodial and broker fund onboardings as well as maintenance.
Realizing the need for digitizing the account opening process and having operational efficiencies are key focus areas, and Franklin Templeton has embraced Saphyre's technology which assists the firm's ability to streamline its custodial setups for new accounts. Setting up these accounts within the Saphyre AI cloud infrastructure will have compounding benefits during the onboarding and the maintenance process.
Saphyre's automated process reduces risk and inefficiencies by eliminating manual tasks for buy-side, sell-side, and asset servicing teams, resulting in greater time efficiencies and cost savings. The Saphyre platform reduces the time to set-up a new account, while also providing any updated data related to the fund to all the required parties.
Krzysztof Wierzchowski, Vice President, Securities Services at Franklin Templeton, noted, "We partner with Saphyre to provide innovative solutions that best meet the evolving needs of our clients. By bringing creative and advanced technology to the onboarding process, we hope to reduce time and effort and to improve service levels. We expect adoption of AI to digitalize the pre-trade set-up process will deliver efficiency across the entire financial industry and bring benefits to clients."
Gabino Roche, CEO & Founder at Saphyre, shared: "Having Franklin Templeton join us provides a terrific testament to the unique value proposition our one-of-a-kind platform is providing the industry. Leveraging AI-powered technology that maintains memory in the cloud for the middle office was a self-evident operational time and cost benefit for Franklin Templeton. This aligns with the vision of most buy-side firms who seek alignment in their front and back office, along with pre- and post-trade. Organizations gain speed and their clients' new accounts achieve immediate liquidity; a win in all respects."
Naveen TV, Managing Director, J.P. Morgan's Securities Services, said: "As one of the early adopters of Saphyre, J.P. Morgan has worked alongside Saphyre to create operational efficiencies and transform the account opening experience for clients. Via this collaboration, we'll be able to continue to take advantage of Saphyre's cutting-edge technology coupled with J.P. Morgan's industry leading operating model and workflow tools to drive improved automation, scale and enhance controls for Franklin Templeton."
Saphyre leverages patented AI technology to digitize all pre-trade data and activities across multiple counterparties: from asset owners to investment managers, hedge funds to prime brokers, any client firms to broker-dealers and custodians, and much more. Saphyre's platform maintains memory of data and documents, resulting in clients not having to search or resubmit information, and expedites flow in a digitally structured manner so that it can be consumed and understood by any permissioned counterparty in the finance industry. This allows firms not only to assess risk faster, but they can speed their onboarding processes, get real-time ready-to-trade statuses per account, and eliminate
Franklin Resources, Inc. (NYSE: BEN) is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 155 countries. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers boutique specialization on a global scale, bringing extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has over 75 years of investment experience and approximately
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SOURCE Saphyre
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