The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Fiserv Selects Omgeo ProtoColl as Collateral Management Solution

Fiserv, a provider of financial services technology solutions, today announced that it will utilise Omgeo ProtoColl as its dynamic collateral management solution. Using Omgeo ProtoColl, new and existing Fiserv customers on the TradeFlow platform will be able to automate their collateral management process, handle numerous asset classes and increase visibility into credit exposure to mitigate counterparty risk.

“Organisations are struggling when it comes to understanding where all of their collateral resides, particularly when it comes to repossessions,” said Paul Thomas, managing director, Investment Services, Fiserv. “We’ve seen intense pressure on the repossession market because of increased use of collateral agreements. By automating the collateral management process, clients will have a holistic view of their positions, which is invaluable to achieving the key goal of minimising counterparty risk. Using Omgeo ProtoColl, Fiserv clients will have the ability to quickly identify discrepancies and highlight which details must be resolved between existing counterparties.”

Omgeo ProtoColl is designed with a sophisticated and configurable workflow to help streamline the collateral process. Its intuitive dashboard enables users to manage all tasks including notifications and exceptions from a single central location. Additionally, the extensive reporting capability ensures users are fully informed and deadlines are met.

“Today, a limited number of institutions are using automated collateral management solutions. Most existing processes have largely been manual via spreadsheets, increasing operational risk and the likelihood of errors,” said Tim Keady, managing director, global sales and relationship management, Omgeo. “With access to a flexible, out-of-the-box solution such as Omgeo ProtoColl, Fiserv clients will be able to handle a surplus of collateral with increased accuracy and efficiency.”

Related content

WEBINAR

Recorded Webinar: The post-Brexit UK sanctions regime – how to stay safe and compliant

When the Brexit transition period came to an end on 31 December 2020, a new sanctions regime was introduced in the UK under legislation set out in the Sanctions and Anti-Money Laundering Act 2018 (aka the Sanctions Act). The regime is fundamentally different to that of the EU, requiring financial institutions to rethink their response...

BLOG

SETL Launches Verafide Digital Credentials Platform for KYC, Other Verification Challenges

Blockchain operator SETL’s Verafide subsidiary has launched its open-source platform for verifying digital credentials and identification on the SETL enterprise blockchain, allowing issuers, holders and verifiers to set up and maintain a digital credentials ecosystem. The Verafide platform is aimed at helping firms fulfill their KYC obligations, adopt more seamless and transparent customer onboarding processes...

EVENT

RegTech Summit London

Now in its 6th year, the RegTech Summit in London explores how the European financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Entity Data Management Handbook – Seventh Edition

Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...