Deloitte and AccessFintech announce new strategic alliance to help financial institutions digitally transform their operations
NEW YORK, December 14, 2021 – Deloitte and AccessFintech, a leading fintech company evolving the financial industry operating model through collaborative workflow, have formed a strategic alliance to assist large financial services organizations seeking to digitally transform their operations.
The alliance brings together Deloitte’s financial services industry consulting and advisory services with AccessFintech’s data management and workflow solution to help financial institutions as they work to overcome challenges relating to legacy IT platforms, fragmented data and manual processes. The AccessFintech-Deloitte alliance can also help financial services firms as they work to address regulatory obligations and strengthen operational resilience to help reduce cost and risk.
Among AccessFintech’s offerings are Synergy DataLake, which enables the industry to share data and optimise operations through collaboration while also helping financial services institutions to accelerate the US settlement of trades to T+1 through faster access to data. AccessFintech’s Synergy Network enhances data and workflow and underpins the transformation of operations, through transaction lifecycle management and benchmarking insights across the financial ecosystem.
Dana Bronzene, Principal, Deloitte Consulting LLP, said: “As financial institutions work to transform and streamline their processes and operations, we’re always looking to expand the innovative solutions we offer our clients. AccessFintech’s Synergy Network offers some great capabilities to support such transitions with cost effective and highly controlled process environments.”
Bob Walley, Deloitte Risk & Financial Advisory Principal, Deloitte & Touche LLP, said: “Operations transformation, technology enablement, straight through processing (STP) and exception-based work are driving the transformation agenda in many financial institutions. Our alliance with AccessFintech offers Deloitte clients some potential efficiencies as they prepare for Accelerated Settlement, Central Securities Depositories Regulation (CSDR) and the need to connect with counterparties.”
AccessFintech’s EVP Business Development Boaz Zilberman said: “Deloitte’s position as a trusted adviser to leading financial institutions worldwide and understanding of the value that we bring will enable us to support a broad range of firms in the sector seeking to digitally transform their operations while reducing cost and risk.”
AccessFintech’s Synergy DataLake enables optimization of cross organization processes. Achieved through collaboration, the use of data, workflow and shared technology access. By enabling users to collaborate on data, it drives the uses of technology to transform operations to simplify and speed workflows, reduce liquidity risk, and provide valuable benchmarking insights across the financial ecosystem. At its core is the AccessFintech Synergy Network, a modern and secure collaboration network that facilitates 3 key capabilities across the financial ecosystem: data collaboration at scale with more visibility into transaction data and access to benchmarking insights. Workflow optimization to speed and simplify transactions through digital automation, resolution and decision-making in one place. And technology distribution providing connectivity to new technologies and reducing the cost of ownership for all. The company has a self-service ethos, where risk is mutualized, and there is better, more enlightened decision making across organizations and functions. AccessFintech’s Synergy Network is built with leading financial institutions with a critical mass of data, participants and solutions where more than a billion transactions are now being processed every month on the network. For further information please go to accessfintech.com or follow us on LinkedIn or Twitter.
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