BNY Mellon and Saphyre Are Using Artificial Intelligence To Revolutionise Client Onboarding

BNY Mellon, Saphyre | June 10, 2021

BNY Mellon and Saphyre announced today that they would collaborate to use AI technology to transform the customer experience and significantly automate and accelerate client onboarding. This cooperation is part of BNY Mellon's OMNISM strategy, which involves collaborating with best-of-breed FinTech companies to innovate and support customers' investment goals.

By supplementing standard communication channels like as email, fax, and phone calls, Saphyre's platform provides seamless communication between clients and important stakeholders. The two companies' integration provides for more simplified communication, which reduces fund launch time to market, allows for more efficient cross-border trading, and improves customer experience.

"Time is a limited and valuable resource. BNY Mellon's collaboration with Saphyre seeks to save our custodial clients’ money and speed up the onboarding process. What used to take days or weeks is now almost instantaneous. This is just another example of BNY Mellon's digitization initiatives in the last two years that have directly benefited clients "Caroline Butler, BNY Mellon's Global Head of Custody, stated.

"It is a wonderful honour to have BNY Mellon joins the Saphyre team. We've demonstrated the ability to intelligently pre-fill client custody packs, allow for digital signatures, auto-setup SWIFT Reporting, Trade Message Routing, and Corporate Action standing instructions – all while smartly and dynamically monitoring market requirements and their respective document statuses – by applying our patented technology to their leading asset servicing operations. BNY Mellon is completely grabbing the innovation mandate in a post-COVID environment where AI and digital are crucial "Saphyre's CEO and Founder, Gabino M. Roche, Jr., stated.

About BNY Mellon
BNY Mellon is a worldwide investment firm committed to assisting customers with the management and servicing of their financial assets throughout the investment lifetime.
BNY Mellon provides knowledgeable investment and wealth management and investment services in 35 countries, whether for institutions, businesses, or individual investors.

About Saphyre
Asset owners, investment managers/hedge funds, broker-dealers, and custodians/prime brokers use Saphyre's unique AI technology to automate all pre-trade processes among multilateral counterparties. Saphyre's platform stores data and documents in memory, eliminating the need for customers to seek for or resubmit material, and streamlines flow in a digitally organised format that can be consumed and understood by any permissioned counterparty in the financial industry. Firms may use this technology to not only analyse risk more quickly and clearly, but also to speed up onboarding and reduce 70 percent to 75 percent of duplicated or unproductive post-trade procedures.


Foreign direct investment (FDI) is an investment made by a company or individual in one country in business interests in another country, in the form of either establishing business operations or acquiring business assets in the other country, such as ownership or controlling interest in a foreign company.

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SAT | December 30, 2021

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Foreign direct investment (FDI) is an investment made by a company or individual in one country in business interests in another country, in the form of either establishing business operations or acquiring business assets in the other country, such as ownership or controlling interest in a foreign company.