How would you describe the value of TCS BaNCS’ integration of Taskize, for both users and clients? And how can you measure and quantify the results it delivers? These were the two questions we set out to answer on a special panel at TCS BaNCS’ Annual Customer Forum, which brought together clients from around the world to 22 Bishopsgate in the City of London.
Credit: TCS BaNCS
CRO and Head of Strategy James Pike represented Taskize and, joining him on stage, was TCS BaNCS’ Industry Advisor, Capital Markets, Giles Elliott and our integration’s pilot user, represented by a senior custody leader from a global financial institution.
Giles kicked off the session by connecting this new partnership and integration project back to TCS BaNCS’ vision for a “security services data highway” to tackle the challenges of core data synchronisation.
He then talked through the concept of, and expansion of, client self-service tools and the automation of exception resolution. Not least in terms of building out a “T+1 toolkit” and the T+0 discussions earlier in the conference. All of this in the context of simplified ecosystem interactions and fast, simple multiparty communication.
Perhaps most importantly, Giles talked through all of this with focus: “not a list of 100 partners or more” but to “critical parties that you work with, or want to work with.”
Next up, Taskize’s CRO James Pike, who first explained what exactly the Taskize platform is, and does. And, for this audience, he cut to the chase: “The Taskize platform is a replacement for email, for high-volume, high-value communications within financial services. It also removes the problems with unstructured (and thus hard to audit) data.”
“Taskize is not a platform that stands still. It’s not a simple point-to-point solution. Having been developed and refined over many years, it allows our clients to develop a strategy of interoperability – across all their screens and apps that keep their business running – and is a lynchpin for moving data across and within firms and teams.”
Credit: TCS BaNCS
James also took the opportunity to give a straight and to-the-point description of TCS BaNCS’ new integration of Taskize into their platform: “If you’re working in TCS BaNCS and you have a query to resolve, pause for a second. Don’t open another app, or ‘swivel-chair’ to another screen or headspace.”
“Instead, click the Taskize button you’ll now see in BaNCS. Straight away, it will strip the pertinent data out of BaNCS and into a prepopulated Taskize Bubble – our version of a secure, intelligently-routed problem ticket – and you’re away. You’re properly and immediately in touch with your sub-custodian, your asset owner, your broker dealer, or all of them.”
“The net result? This approach creates one-to-one relationships, as opposed to one to many. And an end needing to write various queries into one email, sending it to a distribution list and hoping for the best!”
Rounding out the panel, we heard from TCS BaNCS’ global custody client, who has been testing the integration with hundreds of queries and exceptions, for which email has hitherto been the only available comms channel.
We look forward to reporting back on these test results in a future Insights article.