Research — June 17, 2026
From Manual SSIs to T+1: Why Data, Automation, and AI Are Redefining Settlement
S&P Global and WatersTechnology have hosted a webinar and explored how AI-driven data extraction, automated validation, and secure authentication are transforming SSI workflows, enabling firms to reduce risk, improve efficiency, and future-proof their operations.
Industry specialists from Deutsche Bank, SSImple and S&P Global, have tackled how the global capital markets accelerate toward T+1 and eventually T+0 settlement cycles, and how firms are facing a critical inflection point. What was once a manageable, manual process is now a major operational risk.
At the heart of this challenge lies Standard Settlement Instructions (SSIs), still widely handled through fragmented workflows, emails, spreadsheets, and manual validation processes. As discussed in the webinar, these inefficiencies are no longer sustainable.
The message is clear: firms cannot simply work faster - they must work differently.
The T+1 Reality: Less Time, More Risk
The transition from T+2 to T+1 is not just a reduction in settlement time; it represents a fundamental shift in how firms must operate.
Panelists highlighted that firms may lose up to 80% of their available processing time, leaving little room for manual intervention.
This compression exposes long-standing weaknesses:
- Fragmented SSI data across systems
- Reliance on manual validation and callbacks
- Delays in communication between counterparties
- Inconsistent data quality and governance
Even firms with partial automation face challenges if data is inaccurate at the source. As emphasized during the discussion, settlement risk doesn’t start at settlement, it starts upstream in pre-trade data quality.
Why Manual SSI Processing Is No Longer Viable
Despite industry progress, many firms still rely on email-based SSI exchange, PDF or spreadsheet instructions, and manual reconciliation processes—introducing delays and errors that cannot scale in a T+1 environment.
As highlighted in the webinar, firms that relied on manual processes during earlier T+1 transitions experienced increased operational strain, higher staffing costs, and greater exposure to settlement failures.
The conclusion is unavoidable: manual SSI processing is incompatible with compressed settlement cycles.
AI as an Enabler - Not a Silver Bullet
AI is playing a growing role in addressing SSI challenges, but the webinar made one point clear: AI alone is not the solution.
Instead, AI acts as a powerful enabler across key areas:
Where AI delivers value
- Extracting structured data from unstructured inputs (emails, PDFs, messages)
- Validating and identifying inconsistencies across SSI records
- Detecting anomalies across the trade lifecycle
- Highlighting trends and recommending process improvements
Where caution is needed
- AI models depend on high-quality input data (“garbage in, garbage out”)
- SSI data requires deterministic accuracy—not probabilistic outputs
- Human oversight remains critical, especially for high-risk updates
- Explainability and auditability are essential for regulatory compliance
The takeaway: AI enhances decision-making - but does not replace accountability.
Data First: The Foundation of T+1 Success
One of the strongest themes from the discussion was the importance of data readiness.
Without a single source of truth for SSIs, standardized formats and reliable data governance, even the most advanced automation will fail. If the data feeding automated systems is incorrect, the entire process breaks down.
Build vs. Buy: A Strategic Decision, Not a Technical One
Another key debate explored in the webinar is whether firms should build or buy their T+1 infrastructure. There is no single answer—but several realities stand out:
- Building is complex due to high cost and ongoing maintenance, as well as limited visibility beyond internal workflows and a time constraints ahead of regulatory deadlines.
- Industry solutions are gaining traction by sharing infrastructure, reducing cost, broader data access improves accuracy, faster time to market and alignment with evolving market standards.
Crucially, T+1 compliance is not a competitive advantage, it’s a regulatory requirement. This shifts the focus from differentiation to efficiency, scalability, and control.
Standardization: The Missing Link
While industry standards for SSIs are emerging, adoption remains inconsistent, with standards not yet universally implemented, SSIs still delivered through multiple formats and channels, and process standardization proving just as critical as data standardization; as a result, automation cannot scale effectively, data inconsistencies persist, and settlement risk remains elevated.
Looking Ahead: Beyond T+1 to T+0
Although T+1 is the immediate priority, the industry is already looking toward T+0 and real-time settlement.
However, the consensus was clear:
- Current processes are still largely batch-driven
- Manual steps (e.g., callbacks) must be eliminated
- Significant infrastructure redesign will be required
In reality, achieving T+0 will depend on:
- Fully automated workflows
- Real-time data integration
- Industry-wide collaboration and standardization
Key Takeaways
- T+1 is a catalyst for transformation, not just a compliance exercise
- Manual SSI workflows are unsustainable in compressed timelines
- Data quality and governance are the foundation of success
- AI accelerates automation—but requires strong controls and oversight
- Build vs. buy decisions should prioritize speed, scale, and collaboration
- Standardization is critical to unlocking true industry-wide efficiency
- The path to T+0 starts with fixing today’s data and processes
Ready to modernize your SSI workflows?
Discover how firms are using AI, automation, and standardized data to reduce settlement risk and prepare for T+1 and beyond.
👉 Access the on-demand webinar to explore the full discussion and practical strategies in detail.
For more information, please visit SSI Automate.
