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Taskize, the leading provider of inter-company workflow to the financial services industry, has launched new functionality to automatically distribute data offered by the APIs of financial institutions to enable faster resolution of operational queries and disputes.
The purpose of external APIs is to make the consumption and transmission of data easier outside the organisation. In operations this can translate to real-time access to the information needed to resolve simple queries such as trade or settlement status, without the need for human intervention or the use of highly inefficient forms of communication such as email and phone.
As the availability of public-facing APIs continues to grow, Taskize provides the ability to magnify the value they offer to clients of financial institutions who can now ‘self-serve’ required data automatically to resolve their queries faster.
This generates significant capacity within operations teams, reducing costs and allowing resources to be re-focused on more value-add activity. Such on-demand access to information significantly improves the client experience, especially for buy-side firms, and removes the headache of managing exceptions across multiple portals with different security credentials.
With thousands of simple trade queries daily, firms are spending huge amounts of time verifying clients, retrieving and then re-keying the data to respond. With a single integration to the Taskize ecosystem, firms can realise the value of their existing APIs to service their entire business network and release up to 30% of operational capacity.
Should a query require further input from the operations team, the Taskize Bubble not only provides a secure inter-company workflow ticket for automatically resolving queries but also allows follow-up human intervention if needed.
Kishan Bharwad, Head of Product, Taskize, commented: “The growth and development of external APIs has, until now, been somewhat of a false dawn in operations. By connecting to the Taskize ecosystem to provide access to information on-demand, the industry can finally collaborate to generate capacity within teams to reduce costs, all while improving client experience and reducing operational headaches.”