With unprecedented pressure on operations finding more productivity is critical, but with a squeeze on resources and reduced budgets COOs need to look beyond traditional solutions to tackle the problem.
Regulatory reforms are adding complexity to operational processes and reducing time for settlement. With increased pressure to deliver these new standards and levels of transparency, the margin for error is material and highlights an urgent need to streamline tasks in the middle and back office.
Financial services companies have had to invest in extra resource to comply with regulations, such as the provision of legal teams to assist with The EU Market Abuse Directive and MiFID II, and broker-dealers are facing reduced settlement cycles introduced by the Central Securities Depository Regulation. With unprecedented pressure on operations further standardisation and automation are now critical, but with a squeeze on resources and reduced budgets COOs need to look beyond traditional solutions to tackle the problem.
During my two decades working in banking and technology, I had the opportunity to bring open standard messaging infrastructure to capital markets operations with AMQP and FpML. Today, I think the new generation of communications and sharing technologies will allow for more cost effective and efficient solutions to help further industrialise banking operations.
Taskize has been designed for operations and offers a task management utility to connect all operations staff across the globe changing the way people connect, interact and resolve exceptions. It helps to standardise and accelerate manual interventions. As the utility learns and updates with each new issue and organization change, each new exception may be dealt with more effectively than the last.
With today’s budget and headcount restrictions, COOs have limited time to implement new systems. Unlike more traditional solutions, Taskize is easy to deploy and complements existing exception management processes.
Higher levels of standardisation and automation will help to streamline complex processes and support relationships. Taskize can help COOs to achieve greater control and transparency preparing them for the coming regulations and empowering their staff to deliver with greater speed and accuracy.
We’ve thrown people at the back office for too long; now is the time to give them the tools to do the job better.