On February 23 (EST), Nomura Research Institute ( NRI ), a Japanese leading provider of consulting services and system solutions, announced its Prime Settlement Service (PSS) for investment banks in Japan, has been named "Best Utilities Technology," by The Wall Street Letter, as part of the publication's 2016 Institutional Trading Awards.
The WSL Institutional Trading Awards recognize excellence among providers to the institutional trading industry, specifically rewarding brokerage firms, exchanges and financial technology companies for achievements and innovation over the past year.
NRI's PSS, a utility service for financial institutions, integrates both Business Process Outsourcing (BPO) and Information Technology Outsourcing (ITO) services to improve the efficiency of back-office post-trade processes. PSS's ITO component is NRI's I-STAR, a de-facto-standard system used by over forty companies in Japan's investment banking sector. I-STAR technology ensures clients are able to meet their data security and risk assessments requirements. PSS's BPO services are jointly provided by NRI and its subsidiary NRI Process Innovation, Ltd, and its current and former BPO clients include forty-four asset management companies. By integrating BPO and ITO services, PSS enables its financial institution partners to standardize their business processes, improve back-office efficiency and flexibly adapt to regulatory and infrastructural changes. Most recently, UBS Securities Co. in Japan began utilizing NRI's PSS.
Minoru Yokote, Senior Managing Director of NRI commented on the press release, "NRI is the leading utility service provider for investment banks in Japan, and we strive to contribute our local experience and knowledge to our clients globally"
(Source: Nomura Research Institute )
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