iMeta Technologies Ltd., a leader in Entity Data Management technology for financial organisations announced that a sixth top tier global bank has now selected it’s Assassin SSI software to automate and manage their settlement instructions.

With increasing pressure to shorten settlement cycles in order to free funds up more quickly and reduce exposure to market risk, investment banks and broker/dealers are realising the need to automate their settlement instruction data processes.

Assassin SSI allows broker/dealers to create a central repository of clean, accurate and settlement ready data. Assassin leverages a certified interface to Omgeo ALERT, so brokers can integrate ALERT data into their onboarding processes for rapid set up of Trading Accounts and their underlying SSI’s. It automatically processes updates to this data; thus reducing the time, effort and risk of errors that comes from the manual processing and rekeying of data. In addition Assassin provides a single entry point for SSI’s derived from other sources.

“Over the past few years, Assassin has developed its reputation as the market leading SSI data management solution which has enabled our customers to reduce costs and risk, whilst improving efficiency and customer service,” said Ben Marsh, CEO of iMeta. “Our technology has been tried and tested by some of the biggest names in banking, and we are delighted that another global bank has chosen to implement and reap the benefits of our software.”

 “The experience and commitment of the development, delivery, and support teams in this field is something we really value at iMeta, and we are proud to announce this new client win, which reinforces our approach of adding value to our clients business; through transparent communication, innovative technology and industry experience.”