SINGAPORE, June 12, 2019 (GLOBE NEWSWIRE) -- Symphony Communication Services, LLC, the leading secure team collaboration platform, today celebrated the continued investment in workflow and automation from its customers and partners at its Innovate Asia 2019 conference, held on June 13 in Singapore. Using Symphony’s open APIs, customers can develop customized bots, automated workflows and integrations to extend Symphony’s secure enterprise collaboration capabilities.
Over half of Symphony’s enterprise customers operate bots within their Symphony platform. Many of these partner- and customer-driven automations will be showcased on stage and at the Customer Showcase at the event. To recognize and celebrate incredible customer innovations, Symphony will announce the winners of its Innovation Award at Innovate Asia 2019 as well.
Symphony Customers including BlueFireAI, DCA, J.P. Morgan and UBS Win Innovation Award
The Innovation Award is an honor bestowed upon Symphony customers and partners who transform legacy workflows by developing unique bots, applications or integrations for the platform. Winning entries all represent innovations live in production.
BlueFireAI wins for its RiskSignals integration through its bot Emmalyn, which provides asset managers and investment banks with continual monitoring and alerts about the financial health of companies in which they have risk exposure. RiskSignals pushes alerts to users over Symphony to flag early warning signs of corporate stress and help clients avoid damaging losses. In conversation with Emmalyn, the bot also allows for historical company deep dives and visualizations that are all seamlessly integrated in Symphony. This allows for access “in workflow” to machine intelligence to gain a more comprehensive view of asset and investment portfolio risks.
“The early identification of unforeseen risks is a big focus in capital markets; machine intelligence using new technologies (machine reading) and new data sources is a big part of augmenting incumbent processes,” said Luke Waddington, CEO at BlueFireAI. “However, it doesn’t matter how much valuable intelligence you produce if it is not delivered well, adopted and actioned. Symphony is an integral workflow for our clients. Using cutting edge collaboration techniques, this makes for an exceptionally strong way to link machine and people-based processes together.”
DCA wins for Project Kairos, a set of bots that automate client orders. The Rutherford bot, used for client identification and onboarding, authenticates Symphony users, then assigns users to the appropriate chat room. The Marie Curie bot then receives and processes trader order workflow from users verified by Rutherford. Together, these two bots eliminate manual processes prone to human error and significantly reduce the error cost associated to order execution whilst also improving accuracy and efficiency.
Kerry Moskos, Director at DCA, said, “DCA’s Project Kairos using Symphony’s APIs has enabled DCA to modify tasks in the direction of a modern workplace. Monitoring chat channels over a 24-hour period for trade execution can be extremely costly. DCA’s Kairos demonstrates how powerful real-time monitoring and automating processes significantly improve accuracy and efficiency.”
J.P. Morgan wins for BETSI, its bot for Equity Trading Symphony Integration, built as a buy-side trader assistant for the equity trading desk. A collaboration between the firm’s Asset Management technologists and equity traders, BETSI was launched in Q1 2019 to improve traders’ productivity and operational efficiency by automating communication to both portfolio managers and brokers globally. The team leveraged Symphony Bot technology to integrate broker communications of IOIs and RFQs into Spectrum Trading (JPMAM’s proprietary OMS) as well as streamlining communication of market news to investors. Building on Symphony significantly reduced the cost and time to market from proof of concept to a fully integrated production solution in less than three months.
“The close partnership between trading and technology, with investment in technology solutions such as this BOT, has allowed us to streamline trading workflows and address objectives of improving scalability, reducing risk, searching for liquidity and improving communication with portfolio managers,” said Neil Joseph, European Head of Equity Trading for Asset & Wealth Management.
Lastly, UBS wins for its AskUBS chatbot, which answers complex questions around electronic order execution for Sales Traders. Traders can query AskUBS in natural language and receive detailed content on order performance, algo behavior, order status and relevant market statistics, all to assist with refining the client's execution strategy, in real-time. @AskUBS has decreased the time spent to obtain queries from minutes down to seconds, allowing Sales Traders to focus on other client requirements and make more informed decisions on client executions.
Choo-Guan Yeoh, UBS Head of Equities, South East Asia, said, “UBS is very proud to win this innovation award. AskUBS has been developed with clients in mind, has been integrated into our platform and will continue to expand through 2019 and beyond.”
Symphony Innovate Asia 2018 Partner Showcase
The Symphony Partner Program fosters an ecosystem of over 50 innovative companies who share a common goal of developing workflow and content applications and integrations to extend Symphony. These partners offer complementary business applications to Symphony’s platform, and the following will be showcased at Symphony Innovate Asia 2019:
ADAPTO - ADAPTO enables rich partner collaborations by converting organizational data quickly and at scale, to a consistent format for applications and bots to communicate efficiently with a focus on exception management automation for the trade life-cycle. Backed by a team of prominent advisors from the finance industry and built on Symphony, Adapto leverages Symphony’s chat capabilities and opens architecture and data security assurance to transform data into meaningful apps and multilateral workflows productively and securely.
ChartIQ - ChartIQ provides software to help the finance world work smarter. The maker of the industry’s most powerful HTML5 financial charts, ChartIQ also delivers Finsemble, a desktop integration platform that links any financial applications together to create smart, modern desktops. ChartIQ’s solutions are built in current web technology to help firms innovate faster, saving them time and money.
DTCC - DTCC is the premier post-trade market infrastructure for the global financial services industry. The DTCC Exception Manager (DXM) platform allows market participants to publish, manage and communicate on exceptions throughout the trade lifecycle. This exception manager and workflow management centralizes and standardizes exception processing to enable faster resolution and deliver a significant reduction in the number of exceptions.
EarlyBird - EarlyBird is the safe, smart platform that delivers a full Twitter news service in Symphony while remaining fully regulation compliant – everything is recorded to MiFID II standards, and outbound Tweeting is blocked. Users can follow any Twitter account or set up custom smart searches for financial instruments or global political events. EarlyBird’s popup manager and mobile apps deliver Tweets exactly where and when you need them, while the new, fully integrated Symphony TweetBot will post critical Tweets directly into Symphony shared chatrooms – now including embedded video content.
EFADRIN - EFA is a leading FinTech solutions provider. It has been creating investment research software and financial analysis technology for financial institutions since 2003. Specifically, the EFADRIN platform helps institutional funds and family offices optimise their investment teams by turning existing in-house spreadsheets and documents from manual analysis tools into integral, robust, repeatable processes, saving time and removing human error. EFADRIN’s core financial modelling and portfolio accounting capabilities capture and analyse data from both the front and middle office allowing CIOs and COOs to enhance the accuracy and overall performance of both the team and the portfolio.
ipushpull - ipushpull is a real-time workflow automation platform that connects data and applications. The platform is used across sell-side and buy-side for bilateral and multilateral pre-trade negotiation workflow, such as trade axes and package trades, and operations based workflow, such as reconciliations management. ipushpull improves workflow efficiency by allowing data interoperability between Symphony, Excel, databases, cloud services, trading platforms, internal platforms and APIs. ipushpull was a winner of the Symphony Innovation Award 2018.
ISID - ISID is a technology company supporting and accelerating the digital transformation of society and clients. It continues to generate valuable solutions for the resolution of issues through open innovation initiatives with cutting-edge technologies.
QUICK - Since its founding in 1971, QUICK has developed an information infrastructure that supports Japan’s securities and financial markets. QUICK’s mission is to support the decision making of a wide range of customers, from security firms and financial institutions to institutional investors, corporations and individual investors. QUICK delivers high-value-added global market information from a fair and impartial perspective.
re:infer - re:infer’s deep learning platform works across pre- and post-trade operations, converting unstructured communications (emails, calls, chats, notes) into structured data in real-time, allowing for analytics and process automation. In the pre-trade environment, re:infer automatically discovers market information, client intent, sentiment, trends and hidden relationships that translate into trading signals for front-office teams. In post-trade operations, re:infer discovers manual processes — quantifying failures, highlighting root-cause drivers of demand, detecting incorrect reference data and enabling straight-through-processing of requests in natural language.
About Symphony
Symphony offers a secure team collaboration platform that transforms the way users communicate effectively and securely with a single workflow application. Forging a new path in the industry, Symphony is designed to help individuals, teams and organizations of all sizes improve productivity while meeting complex data security and regulatory compliance needs. Symphony was founded in October 2014 and is headquartered in Palo Alto, CA, with offices in Hong Kong, London, New York, Paris, Singapore, Sophia-Antipolis, Stockholm and Tokyo.
For more information, visit www.symphony.com and connect with Symphony on Twitter, Facebook and LinkedIn.
Media Contact
Katherine Kilpatrick, Director of Corporate Communications Katherine.kilpatrick@symphony.com, 650.262.1563