Pirum, the UK-based fintech focused on securities finance, has launched a borrower automation solution with its Recalls Manager service, enabling full automation of the recall lifecycle with its first clients well ahead of the introduction of T+1 settlement in the US, Canada and Mexico in May 2024. Pirum is going live with multiple agent lenders over the coming weeks, with a number of others later this year.
Pirum’s Recalls Manager service is a global, fully interoperable recalls service, which streamlines and automates the entire end-to-end recall workflow. Upon adoption, it allows lenders and borrowers alike to agree and automate the management of recalls across all of their counterparts.