At times it can seem that, almost overnight, artificial intelligence leapt from the realm of science fiction into our daily lives. Even schoolchildren are learning how to harness AI, and most of us have come to accept that we can no longer be sure whether the online chats we’re having are with real people or bots.

The challenges of this brave new world are well documented, but for those working in finance there are also tangible benefits on offer – however, these will only be realised through the application of the right skills and experience. This is especially true for such a heavily regulated sector, where the supervisory bodies are paying close attention to operational resilience and efficiency in the face of the world’s growing reliance on digital technologies.

Derek Duggan
Derek Duggan

Managing Director | Banks

dduggan@thomasmurray.com

Given all the advanced capability now available, it’s understandable that clients and regulators will no longer accept the inevitability of errors and post-trade fails caused by outmoded manual processes in which data collection is neither reliably accurate nor streamlined.

The days when an organisation could run separate post-trade processes on different technology and operational systems should be over – but it is still all too easy to find firms using disparate and misaligned methods for handling transactions for different types of financial instruments. These firms could easily speed up their processing times, reduce complexities and costs, and minimise the risks that are an inevitable part of running multiple operations and technology platforms.

Quality data

The quality of the data itself is, and always has been, key. Given the right provider, automation can ensure that data is managed correctly and gathered from the right sources. Predictive analytics based on properly curated data, and driven by AI, will enable financial institutions to:

  • prevent settlement failures;
  • mitigate expensive regulatory fines;
  • create bespoke reports that incorporate interactive data and analytics; and
  • benefit from near real-time data and reporting at the local market level.

The benefits to the end client and the organisations themselves are evident, from access to granular data that facilitates better communication between network consultants and clients, through to the outsourcing of administrative tasks freeing up valuable time to spend on core operational objectives.

How we can help

At Thomas Murray, we have 30 years’ experience of being the trusted partner to the world’s largest financial institutions and its most innovative funds. As the digital revolution continues to gather pace, we are helping to keep our clients one step ahead by providing flexible, dynamic digital solutions to automate the management and delivery of post-trade market information. Talk to us today about what we can do to support your changing expectations and needs – and meet those of your clients.

This article originally appeared in Issue 13 of TNF Journal.

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