SEI has entered into a partnership with London-based blockchain company Coinfirm to develop a system for asset transfer using blockchain. The goal of the partnership is to make asset transfer more efficient, with it currently representing, "one of the most expensive and error-prone parts of the asset management value chain", according to Brett Williams, managing director for SEI Wealth Platform. The two firms intend to begin the initiative with a pilot programme for one of SEI's existing clients. According to Williams this will be done by creating an automated platform that allows clients to send assets directly from their bank accounts to the platform.
SEI has entered into a partnership with London-based blockchain company Coinfirm to develop a system for asset transfer using blockchain. The goal of the partnership is to make asset transfer more efficient, with it currently representing, "one of the most expensive and error-prone parts of the asset management value chain", according to Brett Williams, managing director for SEI Wealth Platform. The two firms intend to begin the initiative with a pilot programme for one of SEI's existing clients. A full offering is expected next year.