BNY Mellon has become the latest custody bank to partner with a fintech to improve the client onboarding experience. It is working with Saphyre, which leverages patented AI technology to digitise all pre-trade activities across multilateral counterparties: asset owners, investment managers/hedge funds, broker/dealers, custodians, and prime brokers. The firms are working together to deploy AI technology to revolutionise the client experience and substantially automate and expedite client onboarding. This collaboration supports BNY Mellon’s OMNI strategy to work with best-in-breed fintechs to innovate and support clients’ investment objectives.
