Markit (Nasdaq: MRKT), a leading global diversified provider of financial information services, has announced the launch of new software and services that enable banks and other financial institutions to host and manage instant message chat rooms.
Markit’s new software gives financial institutions direct access to the content in chat rooms they host, and complete control over information security. Chat rooms created using the software will be connected to Markit’s open Collaboration Services network and will be accessible to financial market professionals using a variety of messaging technologies. Today, more than 220,000 industry professionals are connected by Collaboration Services.
In addition, Markit provides fully integrated identity management services facilitated by the Collaboration Services Directory, ensuring firms can verify the identity of all chat room participants, prior to and during sessions, and control access to chat rooms.
Kevin McPartland, head of market structure and technology research at Greenwich Associates, said: “Instant messaging is core to how business gets done on Wall Street and technology that enables people using different platforms to access the same chat room can make a range of front and back office processes more efficient.At the same time, new ways to give compliance and risk officers greater control over who has access to chat rooms, and what is being said, should be welcomed by the industry.”
Andrew Eisen, managing director and head of Collaboration Services at Markit, said: “Use of chat rooms has been scrutinised by regulators and the industry, but banning chat is not the answer.Markit’s solution makes it possible to manage chat rooms across federated platforms in a compliant manner, a first for the industry. This means chat rooms will now be accessible to professionals throughout the enterprise and broader industry, regardless of the messaging system they use.” 
Markit’s chat room software uses standard protocols that are compatible with active and passive compliance software and e-discovery tools. 
Collaboration Services is an open messaging network launched by Markit in partnership with Thomson Reuters and eight global banks in October 2013.The network enables financial market professionals to send instant messages and use chat rooms securely across disparate messaging platforms. 
 

TPBank, a prominent Vietnam financial services institution,  has signed up with iCreate, a Banking Decision Sciences firm,  for establishing an enterprise MIS, Financial Reporting and Risk Analysis framework. TPBankis recognized for deploying innovative technology and industry-leading best practices to enhance customer experience.

This decision comes in the wake of rising regulatory pressures in the region and the bank’s focus on enhancing customer experience, growth, and profitability. After several solution evaluations, TPBankdecided to lay the foundation for addressing the bank’s current and future MIS and Risk challenges by opting for a DW-MIS platform of global standards.

As a part of the bank’s larger information management strategy, iCreate will help TPBankdevelop a Central Data Repository that will leverage iCreate’s proven Banking-specific Data Warehouse, for generating enterprise MIS, Financial Reporting and Risk Analysis. iCreate will establish and activatea sophisticated,future-ready information ecosystem that will help TPBankmanage their data for accurate, reliable and timely decision making for information consumers at the leadership level.iCreate’spremier partner in Vietnam, Net Vision was actively involved in the deliberations leading to the decision.

Speaking on the occasion Bui Quang Cuong, CIO, TPBanksaid, “It is our vision to be a digital banking and services leader in Vietnam by constantly raising the bar on customer experience. This translates to transforming our information management capabilities, which requires establishing a robustdecision enablement and risk management framework. We chose iCreate for theircomprehensiveunderstanding of our information management challenges, as well as theiradvanced technology and experience in banking-specific information management systems.”

Vivek Subramanyam, CEO, iCreate added, “I am happy that iCreate has been chosen as the strategic partner as TPBank lays the foundation forEDW and Reporting. I look forward to TPBankleveraging our experiential understanding of banking information management as well as our Analytics, Risk and Compliancesolutions built using global best practices.”

 Misys, the leading financial software company, has been rated as “Best-in-Class” in two categories in a recent CEB TowerGroup report, entitled “Trade Finance Applications – Technology Assessment”. CEB TowerGroup analysts evaluated the major trade finance software providers across four categories, comparing corporate client online services, transactional capabilities, and levels of enterprise support for trade finance. 

The technology analysis from CEB TowerGroup profiles and ranks trade finance solutions, by combining qualitative and quantitative data from interviews with industry experts, financial institutions and technology providers.

Misys was awarded “Best-in-Class” in two categories:

1.     CORPORATE CLIENT SERVICES – covering attributes that enable banks’ corporate clients to initiate and authorise transactions quickly and effectively.

2.     TRANSACTIONAL CAPABILITIES – covering those attributes that enable banks to deliver a comprehensive set of trade services and adapt to changing client needs.

“Misys’ trade services offerings have an impressive user experience that both front- and back-end applications deliver, and have many in-built features designed to drive more efficient trade operations at banks and for their clients,” states CEB TowerGroup research director Steve Murphy. “Features of note, include its clean and sophisticated layout of information to manage pending workload and ensure completeness and correctness of transactions. Native support for integrated supply chain finance and SWIFT TSU was a notable differentiator.”

The Misys Trade Services solutions also scored well across the two remaining categories, reflecting a breadth of functionality.

“In a commoditised market banks are modernising trade finance systems to drive competitive advantage and gain greater workflow control to reduce processing cost and labour requirements”, adds David Hennah, Head of Trade and Supply Chain Finance, Misys.. “This endorsement demonstrates how our focus on addressing the global needs of corporate customers, their financial supply chain requirements and demand for greater self service, is what sets Misys apart.”

A key finding of the report highlights that leading trade finance banks are investing in technology and undergoing strategic organisational changes with 49% of banks surveyed seeking to replace outdated trade finance systems. Looking forward, banks are experimenting with the convergence of traditional trade and supply chain finance to offer innovative and cost-effective trade solutions for corporate clients.

Bravura Solutions Pty Limited (Bravura) has announced an expanded role for the current global Director of Strategy, Darren Stevens.

Stevens, who joined Bravura in 2007 and is based in Melbourne, has been appointed Director, Product Management and Strategy for global wealth management.

In addition to his previous strategy role, he will be responsible for the global strategic direction and product management of Bravura’s wealth management suite, including wrap and platform, investment, superannuation, life insurance and portfolio administration products.

Stevens will be managing a global team spanning the APAC and EMEA regions. He will continue to report directly to Bravura’s global Chief Executive Officer, Tony Klim.

Klim said: “We are delighted that Darren has agreed to expand his role at Bravura. His deep product and industry knowledge, coupled with more than 26 years of industry experience – including his previous strategy role – make him the perfect fit for this newly created position.

“With 12 contracted Sonata engagements underway and another two close to contract completion, we are seeing rapid market acceptance and adoption of our software throughout APAC and EMEA, across multiple business lines. This growth has been the catalyst for Bravura to ensure global coordination and prioritisation of individual client Sonata development, alongside company funded R&D.”

Commenting on his new role, Stevens remarked: “I’m excited to expand my role and team at Bravura. A key focus area going forward will be to ensure our products and solutions closely align not only with our corporate strategy, but also – more importantly – with the needs of our client base, the market / industry direction and future innovation.”

Stevens officially commenced the role in August 2014.