Pirum, the UK-based fintech specialising in securities finance, and Kingfield, an exceptions processing fintech, have collaborated to develop connectivity to assist clients in fully automating income claims. With this new connectivity, mutual clients using Kingfield’s solutions can leverage Pirum’s CoacsConnect service, linking to all their trading counterparties. This allows matching, reconciliations, and automation of the payment of income claims for cash-related corporate action events associated with securities lending and repo transactions. This fully automated connectivity increases STP, enabling counterparties to remit claims on pay date, significantly reducing capital requirements due to unsecured credit risk.
