AI Fintech Saphyre has increased its approved patents to 105
Saphyre, a leading FinTech company that leverages patented AI technology to structure all pre-trade data while eliminating post-trade inefficiencies, has increased its number of recognised patents from 67 to 105.
The New York-based startup announced an initial increase of its patents from 48 to 67 in June 2021. Since then, the fintech has significantly advanced its patent portfolio by increasing the number of its approved patents by 37%
Saphyre’s patented AI technology digitises all pre-trade data and activities across multiple counterparties, from asset owners to investment managers, hedge funds to prime brokers, any client firms to broker-dealers and custodians.
Saphyre’s AI platform streamlines risk assessment and onboarding
The fintech’s platform maintains memory of data and documents, resulting in clients not having to search or resubmit information, and expedites flow in a digitally structured manner so that it can be consumed and understood by any permissioned counterparty in the finance industry.
This enables firms to assess risk, increase the speed of their onboarding processes, get real-time ready-to-trade statuses per account, and eliminate 70%-75% of redundant or inefficient post-trade activities.
The news follows on from Saphyre’s recent announcement that the fintech has forged a collaboration with Standard Chartered Capital Markets. The company also hired financial heavyweight and former BlackRock COO of Global Investment Operations, Ray Shivers, as its new COO.
Speaking about Saphyre’s latest announcement, Stephen Roche, president and co-founder stated, “It’s been close to a year since our last updated patent announcement, and we have continued to prove to the market that we truly are the pioneer and leader in this space. We have doubled down on our research and development and have demonstrated specific and unique innovations.”
He added, “We have advanced by lightyears from where we started 5 years ago and I am thankful to our CEO and Founder, Gabino Roche, Jr. and the extended Saphyre team for accomplishing all that we have.”
- ESG-focused fintech Spiral raises $28mn to launch B2B modelSustainability
- What Trust Payments' Alison Conway looks for from innovationDigital Payments
- Fintech data wars risk harming small businessesFinancial Services (FinServ)
- Fintech trends and the benefits of diversity in 2023Financial Services (FinServ)