Financial Recovery Technologies Selected by State Street to Enhance Global Class Actions Service

MEDFORD, Mass., January 21, 2026 — In a major development in the financial technology and investment services sector, Financial Recovery Technologies (FRT), a global leader in securities class action recovery technology and services, has been selected by State Street Corporation to enhance and support its global class actions service offering.

This strategic relationship marks a significant expansion in how custodial banks, institutional investors, asset managers, and global financial services providers will approach class action recovery — combining cutting-edge technology, advanced analytics, and operational expertise to improve outcomes for clients worldwide.

Strategic Partnership Between FRT and State Street

State Street Corporation, one of the world’s largest providers of financial services to institutional investors — including investment servicing, investment management, and investment research — announced it will work with FRT to strengthen its class action recovery services across global markets. This collaboration will bring next-generation technology and enhanced analytical capabilities into State Street’s class actions program to serve clients more effectively and efficiently.

Shared Vision for Innovation and Transparency

According to FRT President Michael Cotter, the new relationship with State Street is grounded in a shared commitment to innovation and providing value-added services that improve transparency, operational efficiency, and governance outcomes for clients. Cotter emphasized that FRT’s market-leading platform and litigation intelligence capabilities are designed to adapt to the growing complexity of global class actions.

The collaboration reflects a mutual goal: to deliver a more comprehensive, efficient, and technologically sophisticated class actions service that meets evolving client needs in an increasingly globalized securities litigation environment.

Enhancing Scale and Analytics

State Street’s Head of Custody, Digital and Fund Services Product, Chris Rowland, highlighted the advantages that FRT’s solution brings to the table. According to Rowland, the partnership will strengthen State Street’s class action offering by adding “scale, transparency, and advanced analytics” — enabling expanded coverage and deeper insights into recovery opportunities.

These enhancements are designed to help institutional clients maximize recoveries while improving overall transparency and control throughout the lifecycle of class action management.

FRT’s Advanced Class Action Platform

At the heart of this collaboration is FRT’s highly advanced class action platform, built to support the entire lifecycle of class action settlements — from initial monitoring and filing through to settlement remittance and payment validation.

Comprehensive Technology Features

FRT’s portal includes multiple user-centric features designed to bring clarity and control to complex litigation services. These features include:

• Executive Dashboard — A high-level overview of all class action activities, designed to give financial institutions clear visibility into case status and potential recoveries.
• Custom Filtering Tools — Advanced tools that allow users to sort and track case data according to tailored criteria.
• Real-Time Case Alerts — Alerts that notify users about developments in active class action cases as they occur.

These features are designed to support better decision-making and provide institutional clients — including custodians, asset managers, and institutional investors — with a transparent view of their class action opportunities.

Operational and Analytical Capabilities

In addition to visibility tools, FRT’s platform incorporates powerful analytical and operational services including:

• Pre-filing Analytics — Offering insights into eligibility and potential recovery outcomes before claims are filed.
• Data Reconciliation — Ensuring that case data aligns precisely with internal custody or investment records.
• Recognized Loss Calculation — Accurately determining financial losses eligible for recovery.
• Payment Validation — Verifying that recoveries are accurately processed and distributed.

Together, these capabilities help to maximize recovery outcomes while reducing the administrative burden that often accompanies complex global class action programs.

Expanding Global Reach

FRT is headquartered outside of Boston, Massachusetts, and has offices in London, Sydney, and New York — reflecting its global footprint in class action services. The firm serves more than 2,500 institutional clients worldwide and supports a wide range of financial institutions, including custodial banks, asset managers, hedge funds, pensions, and sovereign wealth funds.

This partnership with State Street allows FRT’s advanced capabilities to be delivered to a broader client base, particularly in global markets where class action recovery services are complex and require advanced litigation intelligence and technology.

Institutional Clients and Industry Expertise

FRT’s reputation in the financial community is built upon its deep industry expertise, unbiased legal insights, and a commitment to transparency and service excellence. Many institutional investors rely on FRT to manage the entire class action lifecycle — from early case monitoring to final recovery distribution — with efficiency and accuracy.

By combining these strengths with State Street’s extensive global custody platform and client reach, the collaboration is positioned to redefine global class action services and set new standards for investment servicing and litigation support.

About Financial Recovery Technologies

Financial Recovery Technologies (FRT) is a leading global technology and services firm focused on helping institutional investors unlock operational value in complex financial and regulatory environments. Its industry-leading class action platform is designed to streamline class action recovery processes — including monitoring, filing, claims management, and fund recovery — for institutions around the world.

FRT’s platform provides advanced eligibility analysis, claims management, and fund recovery across securities litigation and antitrust settlements. The firm also supports compliance and operational automation for middle- and back-office teams, enabling clients to meet fiduciary and regulatory obligations with greater efficiency and control.

FRT is a Cross Country Group company and continues to expand its services and technology footprint across global markets.

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world’s largest providers of financial services for institutional investors, offering investment servicing, investment management, and research and trading solutions. As of December 31, 2025, State Street reported $53.8 trillion in assets under custody and/or administration and $5.7 trillion in assets under management.

With operations in more than 100 geographic markets and a workforce of approximately 52,000 employees globally, State Street plays a critical role in the global financial ecosystem — serving custodians, asset managers, pension funds, nonprofit organizations, and other institutional investors.

The firm has a long history of innovation and service excellence, and its decision to partner with a technology leader like FRT signals a continued commitment to expanding value-added services for its clients.