EquiLend has partnered with Credit Benchmark to bring Consensus Credit Ratings into its Onboard+ platform. In doing so, this will enhance onboarding processes when it comes to counterparties in the securities finance sector.
Through this integration, EquiLend now displays Credit Benchmark’s Consensus Credit Ratings for each fund. It also highlights how many organizations contributed to the creation of each one. As a result, users gain broader market insight within existing onboarding data fields.
“Onboard+ is becoming a standard reference point for counterparty workflow in the securities finance market, and bringing Credit Benchmark’s consensus data into that workflow puts an institutional credit lens directly where decisions are being made,” said Mark Faulkner, Co-Founder, Credit Benchmark. “Our data is already used by many of the largest banks and asset managers, and making it natively available inside Onboard+ accelerates adoption and makes day-to-day onboarding decisions more informed.”
Enhancing Credit Transparency and Decision-Making
Moreover, this added visibility helps operations, credit, and front-office teams make informed decisions. This is particularly relevant if agency ratings are not available. At the same time, businesses have a basis for comparing their own evaluations to market expectations.
“Onboard+ is designed to make counterparty onboarding faster and more transparent for the securities finance industry, and embedding Credit Benchmark’s consensus data is a natural extension of the platform,” said Simon Waddington, Head of Post-Trade & Regulatory Solutions, EquiLend. “Our clients have asked for richer credit context within the platform, and this integration delivers it without adding workflow steps, helping to enhance their RWA management and ability to prioritize specific funds.”
The Credit Benchmark ratings are based on risk opinions provided by financial institutions across the world. Consequently, the information is based on a broad perspective from the market. Leading institutions, including banks and asset management firms, have used this kind of intelligence for a while now. The inclusion of consensus-based credit insights within Onboard+ means that the workflow will be more efficient. It allows users to focus on their onboarding priorities.
Explore Finance Tech News for the latest innovations in financial technologies and expert insights shaping the future of digital finance!
News Source: PRNewswire.com
