See how digital transformation enabled an International Fund Administrator to automate and scale its processes for better business growth: Watch the video case study
Digital transformation in banking and finance has been a hot topic for some time now, but how is it benefitting firms at a practical level?
Business growth strangled by outdated systems and processes
When your business is growing and customers are coming onboard, it’s an exciting time. But how do you make sure that your systems and processes don’t let you down? How can you be confident that your data and controls will scale to meet your ambitious growth plans?
The Director of an International Fund Administrator was faced with the twin challenges of the business outgrowing its manual process and a desire to enter new markets where integration with key platforms was essential for success. The Director’s choices looked unappealing – costly headcount increases to devote more FTEs to manual tasks, or a slow integration project which would significantly increase costs and slow down time to market.
Process automation: A third way
Instead, the Director chose a third way, selecting Clareti Connect (previously known as Clareti Multi Bank) to support it with extensive process automation across its financial processes, reducing costs and increasing efficiency. Clareti Connect delivered full automation of the order process and position reporting between the Fund Administrator’s clients and key market infrastructure platforms. Its cloud based digital messaging platform enabled integration between complex client and counterparty systems with no internal IT changes or infrastructure required.
With Clareti Connect delivered and operated entirely remotely, the Fund Administrator was able to digitally transform its business, automating processes across the enterprise with a cost-effective solution. This enabled it to enjoy the rush of business growth without systems or processes slowing it down.