DTCC establishes fintech firm

DTCC establishes fintech firm

  • Export:
The Depository Trust and Clearing Corporation (DTCC) has established Clarient Global, a new DTCC fintech company founded with BNY Mellon, Barclays, Credit Suisse, Goldman Sachs, JPMorgan Chase and State Street.

The firm owns and operates the Clarient Entity Hub, a computer platform designed to increase control and transparency throughout the client lifecycle, which will launch later this year.

“Clarient Entity Hub is a unique offering that we’ve developed in close collaboration with our founder banks and over ten of the world’s top asset managers and hedge funds,” said Matthew Stauffer, CEO of Clarient Global LLC.

With the service, fund managers can centrally upload, validate, permission, distribute, and securely store entity-level information, documentation and hierarchy data through a single interface.

“The client on-boarding process has long been a challenge for market participants worldwide, and we look forward to a collaboration that will enable us to bring the optimal solution to the industry,” said David Crawford, executive vice president and head of State Street's global transaction banking services.

The firm claims that the Clarient Entity Hub enables industry participants worldwide to better cope with evolving internal risk management requirements and Know Your Customer, Foreign Account Tax Compliance Act (Fatca) and other client data and documentation challenges, while mitigating operational risk and reducing costs.

Clarient Entity Hub will use current, compliant reference data from DTCC’s client reference data services, including Avox, and Omgeo Alert and will also be fully integrated with the DTCC Client Reference Data and Enrichment service.
  • Export:

Related Articles