Fidelity Investments launched a comprehensive digital securities lending platform for money managers and other institutional investors.
The platform, called Fidelity Agency Lending, provides automated lending using an artificial-intelligence loan decision functionality; benchmarking and transparency tools; the ability to customize lending platform parameters; and automated reconciliations with leading global custodians, a news release said Wednesday.
Justin Aldridge, senior vice president and head of Fidelity Agency Lending, said in the news release: "Current market dynamics are compelling institutions to take a more active role in their securities lending programs to find a competitive advantage. We believe firms are looking for an agent lender with both new technology and the proven ability to serve large, complex institutions, and we're excited to offer that to the marketplace."
Fidelity has been using the platform since 2019 for its own mutual funds, and this launch makes the service available to external managers, Fidelity spokeswoman Meghan Joumas said.
