Apex Fintech Solutions forges partnership with Plaid to streamline account transfers.
Article excerpt
Apex Fintech Solutions forges partnership with Plaid to streamline account transfers. * Apex Fintech Solutions and Plaid have teamed up to streamline account transfers and boost digital capabilities for brokerage firms. * The partnership combines Plaid's secure connectivity and data validation with Apex Fintech Solutions' ACATS infrastructure and risk engine to bring greater efficiency to the fund transfer process. * Apex Fintech Solutions' subsidiary Apex Clearing made its Finovate debut at FinovateSpring 2015. Plaid has been a Finovate alum since 2014. A new partnership between Apex Fintech Solutions and Plaid will enable Apex to offer Plaid's suite of financial data products to streamline account transfers and help brokerage firms improve their digital capabilities. The partnership combines Plaid's secure connectivity and data validation with Apex's ACATS infrastructure and risk engine to reduce the number of errors and delays in the fund transfer process while also boosting efficiency for brokerages and their customers. ACATS stands for Automated Customer Account Transfer Service, a system managed by the Depository Trust and Clearing Corporation (DTCC) that automates and standardizes asset transfers from one account to another. Apex's ACATS infrastructure delivers reliable processing and conformity with ever-changing industry protocols and, together with Plaid's...
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"By integrating Plaid's Investments Move with Apex's clearing infrastructure, we're delivering a first-of-a-kind, end-to-end ACATS solution.
