Four thematic questions and the beginning of some answers that could help solve the puzzle around the need to reduce email reliance for financial firms
Traditional interactions, typically involving email, are as inefficient and risky as ever. Email is basically a 40 year old message queuing system. How is that helpful? I mean even fax machines could be considered more current (and secure) than email.
The ability to find information and the answer to any question at an instant is standard today. We’re accustomed to finding everything we want to know with one click, or a question to our virtual assistant. So how do we take that expectation and translate this to Symphony? The need for content discovery to work seamlessly and quickly while keeping our customer data secure at the same time is a tall order, but I am thrilled to say we’ve done that and more.
What happened over the past few weeks was what I term a “magma moment” in the financial markets. Reddit. WallStreetBets. GameStop. And more. Something molten and disruptive erupted and will change the landscape of the financial markets as it now turns igneous. The market volatility and agility were on full display. But the financial operations teams in the middle and back office were the ones who truly felt the heat and pain. More accounts to onboard, more transactions needing to ensure settlement. It all meant longer hours, more pressure and duress added to existing stresses. Exacerbated by disconnected and tedious manual processes in both client lifecycle and transaction lifecycle management. We just saw market fundamentals disrupted in real-time. But…there is a parallel (and more positive) disruption required to transform client onboarding and post transaction processes. It needs to happen. And soon. Think: augmented operations. Human-centric collaboration technology, automated workflows that dramatically reduce (someday even eliminate) the email/phone/fax productivity death loop.
Since introducing Symphony 2.0, we’ve shared blogs on a few different elements of the product: from the accompanying mobile app, to the guiding principles of its development, to new features like workspaces. We’ve noted before that user input, feedback and usage data played a significant role in shaping Symphony 2.0. Recently, we hosted a webinar to share these user insights and show the Symphony community why we built 2.0 the way we did–as well as demo some of the features inspired by customer feedback:
Symphony 2.0 is loaded with features and tools to deliver a more intuitive and seamless user experience. The introduction of the workspaces feature is one of the most exciting and unique components of the new platform.