A-Team Group recently caught up with Ben Chrnelich, President and CFO of Symphony Communications to discuss how their Enterprise Collaboration and Workflow platform is helping firms prepare for T+1 – which goes live on May 28, and the significant uptick in e-comms messaging volume over their Federated Communications offerings.
Both of these core offerings will be in focus at Symphony Innovate 2024 in NYC on April 18th.
The Evolution of Operations Workflows will feature Live Demos from DTCC and Symphony with representation from Citi, JP Morgan, UBS, and Well Fargo.Bringing Insights to Trader Voice will highlight Cloud9 Transcription and Voice Analytics in Action with representation from Goldman Sachs and Capital One.
As Chrnelich recalls; “Going into 2024, there were signs that capital flows were opening up. People were looking to invest in areas around RegTech and compliance technology. The seriousness of industry fines related to off-channel communication was definitely being acknowledged and addressed by the industry and regulated participants. We’ve seen the messaging volume on our federated offerings grow by almost 400% since Q1 of 2023.”
Symphony Communications started in 2014 as an industry-backed consortium, to deliver a messaging platform for data security and compliance, and an open architecture platform to facilitate real-time cross-company and inter-company communication. The founding consortium members included BofA Merrill Lynch, BNY Mellon, BlackRock, Citadel, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, Jefferies, JPMorgan, Maverick, Morgan Stanley, Nomura and Wells Fargo. Today, the company’s solutions support over half a million users, servicing more than 1,000 institutions.
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