Financial Recovery Technologies (FRT), a global provider of securities class action recovery services, has announced that it would be supporting State Street and will be expanding the custody bank’s class actions programme across global markets.
The firm says that through this collaboration, State Street aims at using FRT’s technology, expertise, and operational scale to deliver enhanced class action filing and recovery solutions for its clients.
FRT’s class action portal supports transparency throughout the lifecycle of each case, from settlement to remittance, and includes features such as an executive dashboard, custom filtering, and real-time case alerts.
Michael Cotter, president at FRT, says: “This relationship builds on our shared vision to provide clients with innovative, value-added solutions that improve transparency, operational efficiency, and governance outcomes.
“FRT’s market-leading platform and litigation intelligence enable us to offer State Street’s clients a more comprehensive solution and expanded coverage that adapts to the growing complexity of global class actions.”
Chris Rowland, head of custody, digital and fund services product at State Street, adds: “Financial Recovery Technologies’ solution will strengthen our class actions service offering by adding scale, transparency, and advanced analytics.
“These enhancements will expand coverage, leveraging advanced technology and actionable market intelligence that aim to maximise recovery opportunities for clients.”
Malav Mehta, senior vice president of Product at FRT, comments: “Partnering with State Street allows us to bring our advanced capabilities to a broader client base.
“From pre-filing analytics and data reconciliation to recognised loss calculations and payment validation, our platform is designed to maximise recovery outcomes while reducing administrative burden.”
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