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Kingfield
In a pitch that delivers music to the ears of securities services providers , Kingfield is looking to tackle the perennial problems in the post-trade industry of manual and outdated processes . Through a standardised ecosystem – that Kingfield says brings back-office operations , namely exception resolution , into the 21st century – the outfit is looking to to help an industry that has has devoted significant time , energy , and resources to digitising its processes for trading , clearing and settlement . “ Most firms recognise that industry participants would benefit significantly from common technology solutions that are utilised for tasks deemed noncompetitive or costly to support ,” Kingfield says to Global Custodian . “ By focusing on one problem at a time and collaborating closely with our clients , we ’ re stringing together humble wins to build momentum and a better , more efficient , digital back-office . With an experienced and seasoned senior management team , Kingfield is delivering a new environment that vastly improves on the existing processes currently in place .” Kingfield has developed a shared common case management application for Income Claims and is in the development stage for a similar technology system for Tax Withholding Recovery ( including Relief at Source / Tax Voucher ) processes . Both solutions have been designed to standardise operational messaging and workflow across institutional clients ,
ELEVATOR PITCH
Kingfield is building a next generation ecosystem that provides a common operational support infrastructure for the global financial marketplace .
counterparties , and their respective agent banks . Market participants engage each other through an operating model that provides a shared transaction record across a dedicated and secure network environment . Using constructive feedback from a working group consisting of the largest global and sub custody banks , prime brokers and many of the largest global investment management firms ,
Kingfield has created an operational platform that is tailored to the needs of the financial industry . Kingfield will continue to work with its securities services customers to develop common technology solutions that address back-office challenges holistically for the industry . Some of its partnerships to this point have been particularly notable for the securities services industry . Following a partnership with BNY Mellon in 2019 which leveraged machine learning and AI for greater operational efficiency , Kingfield partnered with Broadridge in creating an integrated solution with its asset servicing platforms and Pirum ’ s CoacsConnect service to automate the full lifecycle of income claims for financial institutions . In July this year , Kingfield then partnered with DTCC for what many call the “ last mile ” of Income Claim processing and settlement . The partnership was endorsed by David Kabilian , managing director at State Street Corporation , at the time . “ Being able to access ClaimConnect ’ s near real-time claim validation and matching through the Kingfield platform has been a game-changer for us ,” he said . “ This solution has helped us unlock firm-wide benefits , including significantly reduced risk and increased efficiency .”
Notable partners and collaborators : BNY Mellon , DTCC , Broadridge , Pirum
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