FIS Modern Banking Platform
Advance your bank with a modern core platform.
Ready or Not?
October 04, 2018
Based on our latest Readiness Report, 35 percent of firms interviewed don’t feel confident that they can support growth from a technology functionality perspective.
These numbers are eye opening in today’s market but not surprising. We are finding that many of our established FIS Loanet Securities Finance clients are struggling to automate and optimize their collateral management processes. Some are solving the problem by combining technology solutions in one operating platform that can automate the collateral management processes across product silos.
This approach not only improves operating efficiencies but ensures regulatory compliance even as the regulations evolve. Compliance demands are not going away, but will only continue to become more stringent. We have only to look at CAT – what began in 2016 is still awaiting final specifications.
Another concern that is plaguing firms is staffing – overburdened resources and talent acquisition – do they really want to invest heavily in acquiring a full–time staff of technical experts? How can they ensure their current staff is not over loaded?
Recent client conversations indicate they are much more interested in overall cost reduction and have high expectations that their tech vendors supply up–to–date technical and project management expertise.
Firms should look for solution providers that take change seriously and invest in their people and technology.
Configurability is a factor that many broker–dealers continue to struggle with due to outdated technology. Trading today requires system flexibility and the ability to adapt with minimal software coding.
Organizations that have a solutions platform that supports multi–markets, multi-asset classes and multi–currencies from a single, proven provider will find themselves better prepared when growth opportunities arise.