Financial Recovery Technologies (FRT), the leading global provider of securities class action recovery services, announced a strategic relationship with State Street to support and expand the custody bank's class actions program across global markets. Through this collaboration, State Street will leverage FRT's technology, expertise, and operational scale to deliver enhanced class action filing and recovery solutions for its clients.

"This relationship builds on our shared vision to provide clients with innovative, value-added solutions that improve transparency, operational efficiency, and governance outcomes," said Michael Cotter, President at FRT. "FRT's market leading platform and litigation intelligence enable us to offer State Street's clients a more comprehensive solution and expanded coverage that adapts to the growing complexity of global class actions."

"Financial Recovery Technologies' solution will strengthen our class actions service offering by adding scale, transparency, and advanced analytics," said Chris Rowland, Head of Custody, Digital and Fund Services Product at State Street. "These enhancements will expand coverage, leveraging advanced technology and actionable market intelligence that aim to maximize recovery opportunities for clients."

FRT's class action portal supports transparency throughout the lifecycle of each case, from settlement to remittance, and includes features such as an Executive Dashboard, custom filtering, and real-time case alerts.

"Partnering with State Street allows us to bring our advanced capabilities to a broader client base," said Malav Mehta, SVP of Product at FRT. "From pre-filing analytics and data reconciliation to recognized loss calculations and payment validation, our platform is designed to maximize recovery outcomes while reducing administrative burden."