Post Trade Processing – The Case for Smart AutomationAs front offices of investment banks become increasingly electronic with more evolved market infrastructure and reduced headcount, back offices continue to contend with manual processes and disparate systems for trade validation, confirmation, and settlement, reporting and accounting operations. This is also a highly regulated industry with demands for security, accuracy and operational resilience. Smart Automation allows banks to meet these demands, cut operational costs and achieve operational efficiency.
Virtusa Smart Automation for Post Trade ProcessingThe Virtusa Smart Automation solution helps banks streamline, optimize and generate greater efficiencies in their Post-Trade processing functions from Trade Validation and Matching to Reconciliation, Settlement and Reporting.
Robotic Process Automation enables non-invasive integrations of the disparate systems and processes used for Post Trade processing with a scalable Virtual Workforce to handle trade volumes. Machine Learning and Natural language processing are used to optimize Trade Reconciliation.
Virtusa Solution Approach:
HighlightsVirtusa Smart Automation Solutions enable financial institutions to transform their operations by leveraging Robotic Process Automation (RPA), Machine Learning and Workflow integration, to achieve cost savings and increased operational efficiency. Smart Automation is minimally invasive and achieves results rapidly.Smart Automation for Post Trade processing transforms the end to end Post Trade processing workflow. Standard processes for Trade Capture, Validation, Trade Recon, Clearing and Settlement are accelerated with minimum human intervention, and increased accuracy, saving time and reducing operational risk:
Reduce operational costs: Up to 65% reduction in manual effort required for Post Trade Validation, Trade Clearing and Settlement workflows.Optimize cycle time: Up to 70% more efficient processes with integrated workflows intelligent Trade Reconciliation and Exception management.Scalable: The Virtusa solution easily scales to handle more volumes and multiple asset classes without corresponding FTE increases, or reliance on IT. Streamline Regulatory compliance: Integrate transaction logs, audit documentation and System records.
End 2 End Services: Virtusa works with banks throughout the smart automation journey from building the business case, to implementation and deployment.
Banking & Financial Services
Smart Automation of Post Trade Processing
Those who initiate change will have a better opportunity to manage the change that is inevitable.“ ”W Pollard
Fig 1: Automation Opportunities
Pre Analysis:Discovery
Pre Analysis:Processscoring
Pre Analysis:Cognitive vs
Non Cognitive classification
Implementation
Solution BenefitsAddress gaps in STP to achieve seamless processing: The solution integrates multiple workflows across Post Trade processes from Trade Validation to Clearing and Settlement.
Custom Fit Solution: Post Trade activities involve back office systems, custodian interfaces and trading systems and involve varying level of manual intervention and repetitiveness. The solution is tailor fit to address each requirement.
Efficient, accurate and scalable processes: Faster Trade processing with intelligent management of common trade exceptions. Easily scalable to multiple asset classes and trade volumes.
Streamlined Compliance: Access disparate compliance files, audit logs and System data sources to automate reporting for regulations.
Solution Differentiators• Accelerated implementation with Pre-Analysis of Post Trade Functions
• Cognitive and Non Cognitive process classification driven approach• Solution Accelerators with demos• Optimized Automation spend with the right tools for each use case• Partnerships with the Best of Breed Automation Tools
Automation Case Studies
Leading North American Bank
Automation of the maker step of the Account opening process for the bank. Filling of data in the core banking application has been automated.
Large Global Bank
Automation of Finance Operations. Generation of the Customer Balance Sheet, Sales Scorecard and Global Finance Report were automated.
Leading European Bank
Automation of Task Based Cost allocation process. The process involved the entry of data into internal web applications after receiving data from multiple sources and the entire workflow was automated.
Virtusa Corporation (NASDAQ GS: VRTU) is a global provider of information technology (IT) consulting and outsourcing services that accelerate outcomes for businesses in banking, insurance, healthcare, telecommunications, technology, and media & entertainment. Virtusa’s outsourcing solutions enable businesses to improve operational efficiency and reduce IT costs. Virtusa’s digital transformation solutions empower clients to accelerate revenue growth and reimagine the customer experience.
Through the acquisition of a majority interest in Polaris Consulting Services Ltd. in March 2016, Virtusa has created a robust platform to provide end-to-end solutions and services in banking and financial services, strengthening its positioning as a top, global FinTech services provider. Virtusa Corporation is headquartered in Massachusetts and has 50 offices across North America, Europe and Asia.
