Xceptor announced that Schroders has chosen its platform for a range of core business use cases, including cash flow data handling and customer onboarding.
Schroders initially appointed Xceptor to process incoming transfer agency cashflows into their investment book of record, Blackrock Aladdin. Xceptor checked and validated the cashflows with predictions and, once confirmed, loaded the data into Aladdin. Following the successful execution, Schroders expanded the usage across Operations to provide operational resilience and efficiencies through data automation and end-to-end process transformation for business users.
The asset manager now runs 100% of its externally sourced data on its processing system, eliminating the need for multiple applications, end user computers and end user developed applications, many of which performed similar activities.
Peter Hilborne, chief operating officer for Operations at Schroders said in a statement: “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.”
Michiel Verhoeven, chief executive officer at Xceptor, said in a statement: “The selection of Xceptor by Schroders highlights the value our data automation platform brings to the financial sector. By eliminating manual data input and consolidating applications, we’re empowering Schroders to achieve operational resilience and significant efficiencies.”
With Xceptor, Schroders not only eliminates the risks associated with manual data input but also brings uniformity to their processes, enabling them to better understand and streamline their operations.