“ This is why , seven years ago when we founded Saphyre , we proposed the idea of leveraging cloud technology in a smart way to bring a real-time view of all transactions on-chain ,” he adds .
Of course , many traditional banks still rely on legacy infrastructure and systems , so the job of Saphyre ’ s founders is just as much supporting financial institutions to understand smart technology and adopt cloud-based approaches .
“ What Saphyre is enabling is the same thing as DLT technology , but making that technology available on cloud ,” Gabino adds .
Professionals can enter data and documents just once into Saphyre ’ s technology and it can expedite that information exchange to connect asset managers , brokers , custodians and third -party administrators .
“ A lot of these financial institutions will buy technology that works within the four walls of their firm , but if their customers are a hedge fund or bank whose technology is not up-to-date , your ability to drive real-time settlement at speed is hampered , because you ’ re only as fast as the slowest counterparty you trade with ,” Gabino continues .
“ Saphyre is providing infrastructure in the cloud to help institutions meet their counterparties – so every party is using the same technology and can achieve trade settlement in real-time .
“ If you think about Microsoft Windows before it existed as an operating system , users needed to insert one disc to access Word processing manually and another
“Saphyre can change the working environment for real-time trade settlement for financial organisations ”
STEPHEN ROCHE PRESIDENT AND CO-FOUNDER , SAPHYRE
for Excel . With an operating system , memory is retained when switching between programs .
“ I like to think of trade now as what Microsoft was like with its many different discs . You ’ ll use one set of tools for stock trading and another for fixed-income bonds . Saphyre is the operating system bringing it all together like Windows does today for Word andExcel . We ’ re the operating system for finance trading .”
Helping FIs meet compliance with digital authentication Today , fraud in the financial space – particularly when it comes to the transfer of funds – is growing . Not only do Saphyre ’ s tools support real-time trade settlement by providing an operating system for finance trading , but they also have compliance front-of-mind .
12 September 2024