Goldman Sachs Launches New Derivatives Cash Payments Affirmation Service

AccessFintech, a leading fintech company evolving the financial operating model through data and workflow collaboration, announced the launch of a new derivatives cash payments affirmation service, working with Goldman Sachs. Goldman Sachs and AccessFintech developed the cross-industry service working with a major Tier 1 buy-side client to embed a process that allows for the real-time supervision and scrutiny of expected cash payments associated with derivatives trading. Previously, derivative settlement processing has been operationally inefficient for buy-side clients and their brokers, with disputes often captured without sufficient time to resolve. Now, the ability to have a zero-touch settlement payment process with a digital workflow for collaborative dispute resolution, enables significant benefits. The introduction of this service focuses initially on Interest Rate Coupons & Cross-Currency Swaps, Credit and Equity Total Return Swaps with future expansion to other over the counter (OTC) derivatives, including CFD and Exchange Traded Equity Derivatives.