SEI partners with blockchain firm to 'transform' asset transfer market

Aims to set new industry standard

SEI's wealth manager platform is to use blockchain technology to reduce costs, and improve security and efficiency in "expensive and error-prone" asset transfers.

The move sees SEI Wealth Management partner with blockchain and regtech firm Coinfirm, which will embark on a pilot programme with one of SEI's existing UK clients before rolling out the offering to the wider market in 2018. SEI and Coinfirm said in a statement the plans "will significantly reshape the UK's asset transfer market", creating "a new digital industry standard" through "a new asset transfer industry benchmark against which others competing in the space can be evaluated". The disruptive power of blockchain for financial services firms Managing director of SEI Wealth Plat...