Kovacs opines that the biggest challenges for financial institutions today are the increasing cost and decreasing margins. Institutions often struggle to gain an aggregated view of risks and operations across assets as the current setting has fragmented systems for multiple assets. Orchestrade simplifies this using their risk management framework with real-time, event-driven architecture capability. Additionally, to extract data out of these systems in a modular format, the Orchestrade platform enables users to retrieve the data in pivot grid, with drag and drop, in a layout that is easy to understand and implements risk analytics to make informed decisions for banks and investment managers. “Modern technology, simple and transparent architecture can be a game changer for everybody, from turnkey solution to highly customized environments,” explains Kovacs.
Furthermore, Orchestrade provides its clients a shared package, with default settings, default workflow, and risk analytics.
It is faster to implement Orchestrade from scratch than to upgrade a traditional system
For instance, Orchestrade’s migration approach allows banks that need to migrate from one system to another. With a collection of robust tools, they enable easy migration of systems within a short-span of time to deliver the maximum value early in the project. A gap analysis is done to ensure that there are fewer loopholes while migrating the data between the existing repositories. Kovacs asserts, “Traditional systems often takes 18 to 24 months to upgrade, which is outrageous. By the time you roll this type of upgrade, you can perform multiple implementations of Orchestrade! For half the cost.”
Apart from streamlined front-to-back processing for all financial instruments, Orchestrade platform manages some of the world’s most sophisticated trading strategies. For instance, Orchestrade helped an investment bank to solve problems associated with risk management. The bank relied on a traditional vendor risk management system that failed to fit the current and the future business requirements and become too expensive to maintain. It needed simplified risk analytics and integration of trade workflow to achieve more visibility into their risk management. Orchestrade rolled out a solution for the bank within nine months. They moved from batch mode to real-time risk analytics and P&L and achieved a greater visibility into their risk management operations.
Orchestrade is forging ahead to add brand value, “continuously extending their offering, especially in the regulatory real of MiFID and FRTB” concludes Kovacs.