The Saphyre platform is now accessible to Citi Securities Services' shared custody clients to manage new account openings and maintenance, according to a fintech business leveraging patent-approved AI technology. The Saphyre technology offers Citi an alternative to its current account management system and can have the advantage of greatly automating and accelerating client onboarding.
"Our constant focus is on reducing friction and providing efficiencies for clients. Adding Saphyre into our ecosystem further eliminates manual tasks for clients and reduces time to market.” Rebekah Flohr, Managing Director, North America Head of Custody Product, Citi
"Adding Saphyre to our open architecture platform provides flexibility for shared clients, allowing them to connect seamlessly across our extensive custody network via a single onboarding portal.” Michele Pitts, Managing Director, U.S. Head of Custody Product at Citi
Having Citi Securities Services live on the Saphyre platform is a tremendous accolade for our firm. By doing so, Citi takes advantage of Saphyre's strategic technology capabilities in providing a true ready-to-trade status of client accounts. This patented AI-driven end-result is made possible on the back of Citi's operations taking advantage of our smart technology that pre-fills client custody packs, digital signatures, auto-setup SWIFT Reporting, trade message routing, and corporate action standing instructions – all the while tracking market requirements and their respective document statuses. The post-COVID world requires AI and digital strategies. Together, Citi and Saphyre are utilizing these technologies to provide innovative solutions that benefit their clients. As part of Citi's integrated custody experience for its clients, integrating with Saphyre will further enhance the bank's ability to further streamline processes seamlessly for clients that use both global and direct custodian businesses."
Gabino M. Roche, Jr., CEO and Founder at Saphyre