Customers | Use cases | UMR

The industry still heavily relies on traditional methods

Traditional methods, like email and phone, for resolving margin disputes, reconciling portfolios, and resolving payment fails are:

• time-consuming
• unreliable
• slow
• inefficient
• difficult to track the progress of
• lack actionable data and insights

Despite years of investment in straight through processing (STP), global financial service operations still rely heavily on manual processes and workarounds, especially to manage new regulations. The final wave of UMR regulation will bring into scope hundreds of smaller firms and put all operations teams under increased pressure to comply with new margin rules.

The expected increase in margin disputes will see a significant increase in inter-company emails, an area where most firms are already struggling to cope. The industry has already seen a huge rise in the amount of variable and initial margin posted between 2019 and 2021.  

[Chart graphics from ISDA report: Total Variable Margin 42.5% increase between 2019 and 2020 and Total Initial Margin by 50.7% increase between 2020 and 2021. Source: ISDA]

Transform the way you resolve issues

The Taskize platform has been purpose-built to free up capacity in your teams and eliminate the issues they face when using traditional communication methods.

• Resolve disputes faster – by resolving disputes in a secure Taskize Bubble, your inboxes won’t be full of long and complicated email threads with irrelevant people or group emails in.
• Quickly find what you need – you can keep all relevant messages and documents in a Bubble, so nothing gets lost, and you can keep a clear auditable trail.
• Quickly find the right people to collaborate with – the Smart Directory’s unique dynamic matching technology automatically adds the person needed to resolve your issue to a Bubble.
• Maximise your capacity – it will also allocate the most appropriate person based on their role in the business and considers their current workload and availability, to make sure that your issue is resolved as quickly as possible.
• Avoid future disputes – by tagging the root cause of a dispute as it occurs, you can eliminate the need to manually keep track of the main causes of disputes. Our MI reporting dashboards provide you with data in real-time so you can improve your processes and reduce the risk of future issues.

Resolving portfolio reconciliations

• Generate Bubbles directly from your reconciliation platform through the Taskize API
• Resolve issues faster by populating key Bubble attributes
• Highlight position break for easy identification
   

Resolving margin disputes

• Pass all relevant dispute data into a Bubble without the need to re-key
• Automatically invite you counterparty to a Bubble to begin resolution
• Update margin platform with dispute resolution details
   

Resolving payment fails

• Use failed payment details to create Bubble
• Bubble can be linked back to margin dispute for improved audit
• Use root cause analysis to prevent future fails