BankerLinks platform brings financial industry professionals together in a central place where they can connect, collaborate, and access vital market information with ease for efficient post trade management and problem-solving, ultimately reducing operational risk. But, what really makes BankerLinks different from the competition is that this solution consolidates all the information needed to settle financial operations in an central place, making it available to operational teams and to powerful algorithms which provide operational teams with status, alerts or action suggestions. This all-in-one approach eliminates the need for multiple tools, reducing the processing time and operational risk associated with fragmented or outdated information.
Financial transactions processing officers face an increasing number of transactions to deal with while facing tight deadlines. Today the main tools used by most of the operational teams in finance to successfully prepare and settle transactions are phone and email and often outdated information databases. These tools are slow and inefficient among other disadvantages. This exposes financial teams to higher stress levels and increases operational risks. BankerLinks adresses all these issues with the objective of increasing efficiency and reduce operational risk.
Solution / Technology
BankerLinks develops an application that centralises and reconciles all the information needed for an effective post trade management process. It helps teams in financial institutions find counterparty peers or lookup market critical information to prepare new transactions or solve transaction issues in an automatic, fast and secure way. This is crucial to avoid missing deadlines and settlement failures among other issues, hence reducing operational risk and internal data maintenance costs.
Over 10 billion messages related to financial transactions are exchanged every year on the swift network, this doesn’t include transactions which are handled on other systems. Only in the Euro area there were over 2,450. Mio transactions done in 2020.
In a BankerLinks survey from 2019, 60% of the back office employees stated that they need to collaborate with their counterparts peers on more than 25% of their total managed transactions. 85% of these people would use a system to help them with the task. This would represent a total worldwide market volume of approximately 1,5 to 2,5 billion queries per year managed on BankerLinks platform. These estimates don’t include other transactions performed on non-swift network nor queries not directly linked to a transaction.