Schroders has rolled out new technology to bolster a range of business services including cash flow data handling and customer onboarding.
Through a partnership with data automation platform Xceptor, the asset manager said it has eliminated the need for multiple applications and increased efficiencies through data automation.
Schroders said the technology would eliminate the risks associated with manual data input and has made their processes more uniform, allowing them to better understand their operations.
Schroders initially partnered with the firm to process incoming transfer agency cashflows into its investment book of record, which were externally validated before the data was loaded into its systems.
Commenting on the news Peter Hilborne, chief operating officer operations at Schroders said: "The initial phases we entrusted to Xceptor comprised of critical business functions which the platform handled exceptionally well. By consolidating all other various applications into Xceptor, we have radically transformed how we process and automate data."
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