Drive for greater efficiency and ROI
A recent survey of 260 FICC traders conducted by JP Morgan found almost a quarter cited workflow efficiency as their chief trading challenge. In addition, Gartner’s report on the top strategic technology trends for 2022 singled out efficiency – along with growth, and digitalization – as the top three priorities for CEOs as we head into the new year.
Across the board, banks are getting smaller, leaner, and are scrambling to keep up with innovation while capitalizing on opportunities. At the core of this new hyper-efficient operating model is a focus on enhancing the performance of every salesperson and trader by equipping them with the tools and intel to ensure they are focusing on the right client, at the right time, and making the right recommendations. This is central to efficiency in the world of trading – and the ability to leverage greater insight from transaction and market data is key to achieving it.
Similarly, with budgets and margins under real pressure even at top-tier investment banks, ROI has become a more crucial factor in any decision related to technology. As institutions are constantly looking for ways to eliminate risk from business operations, the unpredictable cost and resource demands of in-house technology projects have contributed to an increase in the levels of outsourcing. Against this backdrop, innovative and user-friendly fintech platforms that perform the same functions more effectively and at a fraction of the cost will continue to rise in popularity in 2022.