Taskize, a key provider of inter-company workflow in the financial services industry, has announced an integration with Symphony, the market infrastructure and technology platform, aiming to enhance real-time collaboration between operations teams and front-office users. This pivotal partnership was unveiled and demonstrated at the Symphony Innovate London event, 2023.
The integration promises to modernise industry practices by allowing users of both Taskize and Symphony to collaborate in real time, avoiding slower traditional methods of communication such as phone or email. This allows users to stay within their preferred platform, removing the need to transfer information manually from one system to another. The resultant effect is an improvement in resolution speed and a reduction in risk.
One of the features of this integration is the interoperability between Taskize and Symphony, offering users a live, synchronised view of trade exceptions or settlement issues. This enables access to Taskize’s workflow, routing, and business intelligence capabilities, providing users with a clear overview of resolution time and root cause analysis – all aimed at improving resolution speed while reducing risk.
The collaboration aims to provide firms with a more seamless post-trade resolution process. It will also equip them with the ability to resolve breaks faster, especially relevant in the context of compressed settlement timeframes and the transition to the T+1 standard settlement cycle.
Philip Slavin, CEO of Taskize, highlighted the benefits of the integration, stating, “For too long, operations teams and their colleagues and counterparts on the trading desk have been restricted in their communication by outdated manual processes and an overreliance on phone and email. This integration will enable users on both platforms to seamlessly collaborate to resolve urgent and unresolved issues. As a result, this will generate more capacity and free up time for front- and back-office teams to refocus on other value-add tasks.”
Adding to this, Symphony CEO Brad Levy mentioned the importance of the partnership, saying, “For Symphony, it’s important to create integrations to automate common tasks and processes that ultimately free up time and reduce risk. This partnership with Taskize is part of our ongoing commitment to address the demand in the industry to extend workflow cross firm and front to back.”
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