BNY Mellon and Pirum Systems have announced they are live with the first client, an international Canadian bank, for their joint collateral optimisation service, ECPOConnect.
The new service combines BNY Mellon鈥檚 collateral management service, ECPO, with Pirum鈥檚 CollateralConnect platform.
The companies aim to aid collateral providers by allowing them to centralise collateral management across business lines.
Victor O鈥橪aughlen, managing director at BNY Mellon, comments: 鈥淲e are pleased to collaborate with Pirum to bring to market ECPOConnect, an industry-leading optimisation solution that allows clients to increase profit margins. Client demand for real-time data-driven efficiencies to navigate complex markets is increasing, and we are building solutions to meet those needs.鈥�
Todd Crowther, head of corporate development and collateral services at Pirum, adds: 鈥淓CPOConnect is an innovative solution offering industry participants a flexible set of optimisation solutions to fit their needs.鈥�
