At TSAM London, Laura Bedborough from Finastra discussed the enduring challenge of operational efficiency for financial institutions. Banks and fintechs are constantly looking for ways to streamline their current operations, specifically focusing on eliminating manual processing and improving overall connectivity; a key focus for these firms is payment connectivity.
Bedborough explained that many are looking to enhance their SWIFT connectivity or outsource it entirely and by outsourcing this part of their business, operations can transform, allowing them to shift the burden of running these complex systems.
Looking ahead 12 months, Finastra highlighted the tangible benefits of this approach as clients will see a reduction in manual interactions, leading to seamless connectivity. Furthermore, organisations gain a centralized view of their messaging and by outsourcing connectivity and all necessary regulatory updates to Finastra, firms can remove the constant “headache” of keeping up with compliance.