Meritsoft and Taskize collaborate on Enhanced CSDR Solution

Meritsoft and Taskize collaborate on Enhanced CSDR Solution
18.06.2020 01:32 pm

Meritsoft and Taskize collaborate on Enhanced CSDR Solution

Compliance , Regulatory Standards

Meritsoft, a Cognizant company, and Taskize, a Euroclear company, are integrating their automated fails operational workload offering and global operational task management solutions to provide an end-to-end Central Securities Depositories Regulation (CSDR) management solution.

Together, Meritsoft’s FINBOS CSDR Manager and Taskize Connect deliver a comprehensive real-time platform for clients and their customers.

Clients will benefit from the following:

  • The ability to manage both the CSDR settlement fail and buy-in processes.
  • A comprehensive audit trail and fail-resolution workflow that adheres to CSDR’s compliance requirements.
  • An integrated solution with visibility into all communications, statements, and invoices, exchanged among counterparts.
  • Easy navigation through unfamiliar institutions to find the correct individual needed to resolve penalty queries or report buy-ins.
  • Significant improvements on identification and prevention of fails.
  • Management of all associated fee calculations (penalty and buy-in) and counterpart/client communications.
  • A single solution for counterparties that will enhance market interoperability, accuracy, and fail resolutions.
  • Automation of a significant amount of anticipated CSDR workloads, including CSD reporting and cash compensation management.
  • Ability for market participants to focus on capturing growth opportunities while remaining compliant.

Kerril Burke, Meritsoft CEO said: “With the February 2021 CSDR deadline front of mind for financial houses, market participants need to be able to mitigate the potential risks and costs of upcoming penalties and buy-ins under CSDR. They must do this through efficient issue resolution while providing business managers and traders with the information required to factor CSDR implications into their decisions. We are pleased to be collaborating and innovating with Taskize to offer market participants this enhanced platform.”

John O’Hara, CEO at Taskize adds: “We are delighted to collaborate with Meritsoft as the company delivers its CSDR Manager solution to the market. Meritsoft clients will benefit from using Taskize’s industry-leading inter-company workflow service. This will enable seamless flows of activity both within and between financial services firms and facilitate adherence to CSDR’s requirements. As the world of regulatory compliance continues to expand, we look forward to identifying opportunities to create value for clients with collaborators such as Meritsoft to service the wider financial services industry.”

Related News

Cloud9 and comitFS team up to enhance real-time voice trading APIs and compliance applications

Cloud9 Technologies ("Cloud9"), a leader in cloud-based communications, has partnered with comitFS, a UK-based provider of voice middleware... Read more »

Wolters Kluwer earns prestigious XCelent Award for “Know Your Customer” offering

Research and advisory firm Celent has honored ... Read more »

Lanistar chooses W2 to power its new banking alternative

W2 partners with Lanistar, ahead of its polymorphic debit card launch that will revolutionise how customers manage their money. W2, the... Read more »

EPA publishes review paper on FCA's shutdown of Wirecard Card Solutions

The Emerging Payments Association (EPA), which celebrates collaboration and innovation... Read more »

Jordan Ahli Bank Cyprus equips for PSD2 with Salt Edge’s solution

Salt Edge, a leader in developing open banking solutions, helped Jordan Ahli Bank Cyprus become amongst the first group of banks in Cyprus to... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel