Taskize enables financial institutions to quickly resolve post-trade issues involving multiple counterparties across asset classes, transforming middle and back office operations
Taskize, the problem-solving network for the financial services industry, today announces that it is fully operational, enabling any financial institution to address fails, issues and queries securely and efficiently – within their organisation and across the Taskize network.
In addition, Euroclear Bank, the Brussels based international central securities depositary (ICSD), has gone live on the platform and will offer its 1,500 clients sponsored access to the Taskize issue management network, providing the banks with enhanced access to Euroclear services.
The operational launch of the Taskize utility is the culmination of four years of working in consultation with operations leaders from 14 banks and 24 financial organisations, several of whom are in the process of adopting the platform for their operational processes.
Settlement fails and reconciliation breaks are well-known industry problems, but new requirements to negotiate collateral arrangements and disputes, as well as tasks in account management and client servicing are also supported by the Taskize service.
For the first time, firms are able to navigate their network of counterparties in a uniform way and intelligently allocate work across multiple parties. Taskize uses innovative technology to optimise issue resolution with control, insight and at scale leading to immediate results with minimal disruption.
Taskize’s secure cloud technology addresses the needs of organisations from boutique fund managers through to the largest international bank or investment manager, therefore providing the industry with a consistent way of dealing with post-trade issues across any asset class or business process.
John O’Hara, CEO and Co-Founder of Taskize said: “In response to cost challenges and increased complexity, Taskize provides operations professionals with the kind of technology innovation previously only seen in the front office but tailored to the unique needs of the middle and back-office. Taskize is a practical and cost-effective solution that is available now. As of today, financial services firms can fix problems faster and with more control allowing them to focus on providing outstanding customer service in a cost constrained environment.”
Taskize is open to all regulated financial institutions and related utilities, is easy to deploy, and has been designed to work with existing processes and legacy systems. To learn more about Taskize and schedule a demonstration.