Michael Laven
Michael Laven

Extending Technology innovation to Tri-Party Credit Analysis.

Michael Laven illustrates how automation of the credit analysis process has resulted in increased confidence from the large financial services institutions to expand their business.

First Published: e-Forex Magazine 22 / Features / January, 2006

The nature of innovation is changing. In addition to technical skill and creativity, many innovations in financial services are now engineered with a deep understanding of business processes. For example, the automation of the tri-party give-up has reduced confirmation time from hours or days to real-time as banks have deployed new sophisticated networking and software products.However, the true innovation in this technology is not in its features and functions; rather, it is that the technology was designed and built to correct a business process that was inhibiting growth. The results are astonishing. By lowering the cost of trading through automation, the industry boosted the number of participants, the number of assets under management, the number of channels and consequently, generated huge growth in the number of trades.Defining the problemProcess innovations, like so many others originate with a problem. In the case of tri-party give-ups, the problem was how to make tri-party transactions more...continued

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