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Symphony has raised a total of $460 at a unicorn valuation—above $1 billion—and counting most of the world's largest financial institutions as strategic investors including Goldman Sachs, BNP Paribas, J.P. Morgan, Mitsubishi UFJ Financial Group, Standard Chartered, HSBC, Societe General, and UBS. In the last four and a half years since its founding, Symphony reached 430,000 licensed users from over 60 countries, making the Symphony community the largest global financial digital network to date, surpassing Bloomberg's 325,000 subscribers. And in the past year alone, Symphony added more than 1,000 bots and apps on its platform to help automate business and communication workflows across its customer base.

The Capital One Financial Corp. data theft raises questions about companies’ reliance on security practices that fail to fully protect sensitive information from hackers. After a breach, regulators, prosecutors and experts delve into whether and how a company encrypts data. Equifax Inc., under a settlement announced last week, is required to improve its encryption of sensitive data. Hackers infiltrated Equifax’s network and exposed Social Security numbers and other personal information that was stored in plain text.

Deutsche Bank (DB) is looking to automate parts of the price-discovery process for over-the-counter (OTC) trades. It has created a bot that is able to monitor chat rooms to track and distribute request-for-quotes (RFQs), collate responses, and obtain price information for accurate, near-real-time information. It also supports post-trade dispute resolution by automatically creating chat rooms with the relevant operation teams to facilitate resolving trades quickly.

Before there was Bloomberg there were things like clay tablets and messengers and tickertape to help people working in the markets remain informed. In the future, there may still be Bloomberg, but there may also be something different – more open source, more controlled by the people who use it. This, at least, is the vision of Symphony, the uber-fintech with a $1.4bn valuation that's backed by most major banks. As we reported last month, Symphony has hired Craig Butterworth, a former fixed income salesman and most recently Nomura's global head of client ecosystem. Butterworth is leading a new account management team at the firm.

Symphony Communications Services, a Silicon Valley messaging start-up used by some of the world’s biggest financial-services companies, expects robot-driven traffic on its platform to surpass human-initiated use within two years. A wave of workflow automation is expected to speed up transaction and regulatory compliance procedures, and reduce human errors and costs.

This podcast will be shining a light on cloud-based unified communication and collaboration tools. Ken lends his expertise on how they can help to speed up the ever-growing and changing enterprise landscape. Further to this, he explains how collaboration platforms can help to embrace company culture. He also advises on handling the security risks that collaboration platforms may present, as well as ensuring it doesn’t become just another hurdle for businesses. Finally, Ken tells us why cloud is better for businesses, enabling accelerated adoption of new technologies.

En installant son centre de R&D au cœur de Sophia-Antipolis, le fondateur de Symphony, la messagerie destinée aux entreprises née à Palo Alto, envoie un signal fort sur les capacités de la technopole à être terre de ressources et de compétences, ce qui tombe bien, exactement l'année de ses 50 ans. Une façon aussi pour l'entrepreneur, azuréen d'origine, d'importer une dose de philosophie US. Qui fait bien là où parfois ça fait mal.

As automation continues to permeate buy-side technology and trading operations, the use of automated bots within trading technology workflows is also beginning to show signs of value for asset managers. JP Morgan Asset Management (JPMAM) developed and rolled out its own bot, referred to internally as BETSI (Bot for Equity Trading Symphony Integration), earlier this year to automate and optimise certain trading desks workflow process, such as notifications, indications of interest for block liquidity and enhancing request for quotes (RFQ). Speaking to The TRADE, JPMAM’s European head of equity trading, Neil Joseph, said that the launch of BETSI – believed to be the first of its kind among buy-side asset managers – is part of the firm’s rolling three-year strategic plan to accelerate its equity trading technology evolution.

As automation continues to permeate buy-side technology and trading operations, the use of automated bots within trading technology workflows is also beginning to show signs of value for asset managers. JP Morgan Asset Management (JPMAM) developed and rolled out its own bot, referred to internally as BETSI (Bot for Equity Trading Symphony Integration), earlier this year to automate and optimise certain trading desks workflow process, such as notifications, indications of interest for block liquidity and enhancing request for quotes (RFQ).

Symphony communication services, a team collaboration platform, has raised $165 million in new capital. Standard Chartered and MUFG Innovation Partners, along with a group of existing and other investors, participated in the round. This brings Symphony’s total capital raised to date to over $460 million.

Media Inquiries

For media inquiries, please contact:

Katherine Kilpatrick
+1 (650) 262-1563
katherine.kilpatrick@symphony.com