Back in 2019, analysts at McKinsey concluded that “in the current environment, piecemeal productivity gains will not lead to significant bottom-line differences for banks. They must rigorously apply a full set of levers across their entire operations cost base.” 

Fast forward to today and that analysis still holds true and is, perhaps, even more relevant. Facing yet another wave of turbulence, financial institutions need to demonstrate that they are built on the strongest of foundations. On top of what that means for their products and strategies, there’s added impetus to drive new operational efficiencies. Here, digitization has an important role to play. 

When it comes to the adoption of digital technologies, financial institutions continue to lag adjacent sectors. The areas arguably most in need of modernization are dealing workflows, which still routinely rely on manual and sequential processes such as voice. Dealers waste valuable time phoning colleagues and partners to source liquidity, discover new opportunities, access new financing structures, or to establish quotes. Such delays are a drag on productivity and ratchet up financial institutions’ expense sheets. 

Collateral optimization also suffers. In today’s markets collateral management is a complex process with interconnected functions that involve numerous parties. And as had been demonstrated again in recent weeks, unexpected problems with one counterparty can threaten to derail the entire market. Servicing collateral optimization using manual processes is highly inefficient and increases organizations’ risk profile.

Taken together, there is a clear case for trade workflow digitization. The tools exist and are ready to be put to use. Our Platform is a prime example, offering companies a “plug and play”, cloud-based approach that unlocks immediate efficiency benefits through simple one-click workflows and highly automated processes. Using Wematch, dealers can connect to a marketplace of liquidity and carry out multiple transactions concurrently, enabling them to process a higher volume of business.

To discuss how Wemarch can turbocharge your workflow digitization journey, get in touch.