Saphyre is a pre-trade onboarding platform that utilizes a patented AI framework to automate the exchange of data and documents among asset managers, brokers, and third-party administrators. This technology addresses the issues of data inconsistency and communication delays, enabling faster onboarding and real-time settlement for financial transactions.
Funding
$18.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Financial firms often struggle with disparate data systems and manual processes when onboarding new clients and managing trading accounts. This leads to data inconsistencies, communication delays, increased operational risk, and prolonged onboarding times, hindering efficient trading and real-time settlement.
Solution
Saphyre offers an AI-powered platform that automates pre-trade onboarding and streamlines data and document exchange between investment managers, brokers, and third-party administrators. The platform creates a 'golden source' of client reference data, populated and verified by a network of financial service providers. By normalizing data and automating workflows, Saphyre reduces manual effort, minimizes errors, and accelerates the onboarding process, enabling firms to achieve faster trade readiness and real-time settlement. The system supports various solutions including broker trading account management, asset servicer account management, legal agreement management, SSI issue resolution, trade exception management, and securities funding management.
Target Audience
The primary target audience includes investment managers (buy-side), capital markets participants (sell-side, brokers, liquidity providers), and asset servicers (custodians, fund accountants, tax agents, and middle offices).
Features
- AI-powered data normalization and mapping for data integrity
- Automated pre-filling of data and documents in downstream processes
- Cross-party data and document management for streamlined sharing
- Real-time tracking of ready-to-trade status for enhanced transparency
- Automated workflows for ongoing fund and account maintenance
- Digital legal agreement negotiation and amendment workflow with document editing and versioning
- Proactive identification and resolution of SSI-related trade exceptions
- FX requirements calculation for securities trades
- Integration with FXall for settlement and onboarding efficiency