HONG KONG, June 28, 2021 - State Street Corporation (NYSE: STT) today announced that its front-to-back asset servicing platform, State Street AlphaSM, received the 'Best Front-to-Bank Office Integration' award at the WatersTechnology Asia Awards 2021.

'We're honored that State Street Alpha has been recognized as the best integrated front-to-back office servicing platform for institutional investors in Asia Pacific,' said Mostapha Tahiri, chief executive officer for Asia Pacific at State Street. 'As institutional investors in Asia contend with intensifying price competition and an increasingly complex regulatory environment, they are rethinking their front-to-back operating models to remove complexity from their business. State Street Alpha, the industry's first front-to-back platform, streamlines and simplifies investment processes for asset managers and asset owners, improving operational efficiency and resiliency. It automates manual processes and delivers real-time data such as portfolio holdings and investable cash on a single platform, which helps institutional investors mitigate risk and maximize returns.'

single platform, which helps institutional investors mitigate risk and maximize returns.' State Street acquired Charles River Development, a leading front office software firm, in 2018 as part of the firm's strategy to build the industry's first front-to-back investment servicing platform from a single provider. Since then, a number of the world's largest institutional investors have announced their adoption of State Street Alpha.

'By owning the entire front-, middle- and back-office asset servicing businesses, we have been engineering the platform to support our clients,' added Tahiri. 'Data is key. Our State Street Alpha Data Platform is supported by a data control framework and deep enterprise data management capabilities that help integrate data from multiple client and third party sources - all of which is managed between State Street and Charles River Development. Our data capabilities are founded on cloud-enabled interoperability and open architecture principles powered by Snowflake® and Microsoft® Azure. The Alpha Data Platform specifically leverages Snowflake, a cloud-based data platform that can help manage data from a multitude of data sources. This enables the creation of a gold copy version of data for the entire investment lifecycle, which clients can easily access to inform their investment decisions. We are aiming to provide institutional investment managers with seamless access to trusted data from across Alpha, as well as a broad spectrum of data in the Snowflake® Data Marketplace.'

State Street Alpha is a fully integrated front-to-back platform that combines proven industry leading components including Charles River Development, Alpha Data Platform, middle-office processing, and a comprehensive set of data and back-office services. State Street Alpha was purpose-built as an open architecture solution that supports interoperability with a rich and growing ecosystem of third party liquidity, analytics, data and application providers.

The WatersTechnology Asia Awards recognize excellence in the deployment and management of financial information and technology within Asia's capital market community as well as providing a unique opportunity for companies across the industry to gain valuable recognition and kudos.

To learn more about State Street Alpha, click here.

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $40.3 trillion in assets under custody and/or administration and $3.6 trillion* in assets under management as of March 31, 2021, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

*Assets under management as of March 31, 2021 includes approximately $60 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

© 2021 State Street Corporation - All Rights Reserved

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State Street Corporation published this content on 28 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 June 2021 02:52:03 UTC.