Buy-side heavyweight Schroders has opted to streamline its data and operations automation through a new phase of its expanding relationship with data automation platform, Xceptor.
As part of the newly expanded agreement, Schroders now runs all of its externally sourced data on Xceptor’s processing system, removing the need for multiple applications, end user computers and end user developed applications.
The pair claimed the expansion will allow Schroders to eliminate risks associated with manual data entry, as well as leverage process “uniformity” to better streamline its operations.
“The selection of Xceptor by Schroders highlights the value our data automation platform brings to the financial sector,” said Michiel Verhoeven, chief executive officer at Xceptor. “By eliminating manual data input and consolidating applications, we’re empowering Schroders to achieve operational resilience and significant efficiencies.”
The announcement builds on an existing relationship between Schroders and Xceptor which saw the active investment manager use the platform to process incoming transfer agency cashflows into its investment book of record, BlackRock’s Aladdin.
“The initial phases we entrusted to Xceptor comprised of critical business functions which the platform handled exceptionally well,” said Peter Hilborne, chief operating officer, operations, Schroders. “By consolidating all other various applications into Xceptor, we have radically transformed how we process and automate data.”
The partnership is the second major announcement made by Xceptor in the last few months after it also partnered with Delta Capita to streamline post-trade services in the lead up to T+1 settlement.