In June 2022, two banks had a pleasingly unglamorous result to report: fewer emails. Citi and J.P. Morgan had spent a year using AccessFintech's Synergy network to coordinate securities settlements. Their internal reviews, published in a company announcement, recorded 30% fewer trade fails and an average 76% reduction in operational email traffic between the dealers. European markets were a particular focus. The small miracle was that people had less explaining to do.
- Synergy lets financial institutions compare transaction records and resolve discrepancies together.
- The reported banking results describe one collaboration, rather than a forecast for every customer.
- Its business depends on useful counterparties joining the same network.
The inbox is part of the trade
A trade involves agreement: somebody buys, somebody sells. Settlement requires the money and securities to arrive where they belong. Between those moments, institutions maintain their own records, status messages and instructions. When the records disagree, an operations team must find the discrepancy and somebody with the authority to fix it. The inbox becomes an unofficial piece of market infrastructure, with exceptionally poor search etiquette.
AccessFintech works in that interval. Its customers include asset managers, hedge funds, dealers, custodians and service providers. The software normalizes their data, pairs related records and makes differences visible across organizational boundaries. Staff can investigate and coordinate a resolution within a shared workflow. A faster internal system helps only so much when the answer lives inside another institution.
Less chasing. Fewer fails.
Consider the purchasing question this creates. An operations manager needs to know which agents and dealers supply data, how quickly a status change arrives and where an exception goes next. A polished dashboard is useful only if it carries the relevant conversation. The network's coverage is therefore part of the service a buyer evaluates.
Two records, one unfinished transaction
The product's useful trick is pairing. A settlement mismatch becomes easier to investigate when both versions appear side by side. Synergy connects the data to the conversation about it, reducing the need to reconstruct a trade through separate messages. In the 2022 announcement, J.P. Morgan's Tom Damico described how shared workflows could change the operating model. The efficiencies came from coordination, as well as automation.
“enhanced data collaboration and shared workflows enable us to create a more efficient operating model”Tom Damico · J.P. Morgan · June 2022
There is a delicate condition here: banks want collaboration without surrendering control. AccessFintech's platform uses entitlements to restrict what each counterparty can see. Its published architecture includes customer-controlled encryption keys and integrations with existing systems. AccessIQ adds analysis of transaction history, anomaly detection and predictive settlement-fail models. The intelligence has a practical foundation: records must be comparable before a machine can usefully explain their disagreement.
- 01NormalizeMake records comparable.
- 02PairCompare both versions.
- 03ResolveRepair the discrepancy.
The financing that vanished
Roy Saadon and Steve Fazio founded AccessFintech in 2016. By 2018, Citi, Credit Suisse, Goldman Sachs and J.P. Morgan had backed a $17.5 million Series A. Yet institutional endorsement offered little protection against a pandemic. Saadon told Geektime in October 2020 that a financing arrangement expected to close in February had fallen apart near the finish line because of COVID-19.
The company found other investors and closed a $20 million Series B led by Dawn Capital. Saadon's account also described home working as making the product essential to banking operations. That is a revealing tension: the disruption that endangered financing increased the usefulness of shared workflows. The story offers a documented setback and recovery, without requiring a heroic reinvention.
Same argument, different asset
The mechanism travels. AccessFintech launched Swaps Lifecycle Management in December 2024, extending its derivatives offering. In swaps, discrepancies can arise around lifecycle events and cash flows. A June 2025 partnership with Nuvo Prime connected prime-finance software to Synergy, with daily alignment of accruals and cash flows as a specific objective.
Repo brought another version of the problem. In April 2025, AccessFintech launched Settlement Netting with Citi and J.P. Morgan. The service matches transaction details and identifies opportunities to offset obligations, reducing unnecessary asset movements. An industry working group helped design the common data model and workflow. The announcement specifically targeted the spreadsheets used to calculate netting obligations. A spreadsheet is a fine calculator; persuading two institutions to agree is rather outside its job description.
Private credit supplies less standardized contracts and another vocabulary. A February 2025 Wilmington Trust collaboration brought contract-level loan data into shared workflows for agents, lenders, trustees and administrators. The target included an email-and-PDF process for exchanging information and detecting cash or position breaks. Securities, swaps and loans have different details, but each can leave several institutions investigating the same disagreement separately.
The customers who helped build it
AccessFintech sells enterprise software and data-network services through an institutional sales process. The commercial attraction combines operational capacity, fewer settlement problems and better visibility over cash and assets. The network also offers standalone data-management services. Its expertise sits where financial operations meet data engineering: interpreting lifecycle events, reconciling records and getting organizations to adopt a common workflow.
WestCap led a $60 million Series C in September 2022, with BNY Mellon, Bank of America and existing investors participating. Sarah Shenton, who had led Goldman Sachs' Series A investment and served on the board, became CEO in July 2025. That November, BlackRock announced an Aladdin connectivity partnership and separately invested. The proposed connection joins Aladdin's community with the 250-plus institutions reported on Synergy. Distribution becomes part of the product's usefulness.
The company's public account of its working culture emphasizes self-service and shared problem-solving. That fits a product whose users need answers from outside their own firm. It also makes adoption a human task: teams must agree how to interpret data and act on exceptions. The banks involved in developing the repo service contributed operational knowledge, giving the software a workflow grounded in the institutions expected to use it.
Start with the disagreement
Buyers have adjacent options. DTCC's CTM handles allocation, confirmation and trade matching; Taskize provides investment-operations communication and workflows. AccessFintech's emphasis is a shared data network across institutions and asset classes. These tools can occupy overlapping or complementary roles. A procurement comparison should begin with the precise operational problem and the counterparties involved.
For other businesses, the copyable practice is straightforward: agree what a record means, expose the discrepancy to authorized people and measure the communication needed to resolve it. Counterparty coverage, timely data and clear ownership matter. Shared visibility cannot conjure missing cash or securities. But it can reduce the work spent discovering who knows what. Sometimes the most valuable outcome of better software is an afternoon with fewer replies.