Thinking Strategy: Retooling for the Post-Crisis World (from Finextra)


This is a great post on Finextra by Thomson Reuters’ CTO for Risk (Alex Hernandez) who mentions single-dealer platforms as an example of add-on services instituations are implementing in order to aid client retention and to attract clients to higher-margin products.

Here’s a great quote from the post regarding single-dealer platforms:

They are in fact supposed to “open up” the bank and exhibit to customers a number of functionalities that only traders have traditionally have direct access to, such as position keeping, risk management, trade lifecycle management, financing workflows, etc. This “self-service” model is of course a contributor to cost reduction, since it means less customer-facing staff, and could be thought of as analogous to what happened to bank tellers 30 years ago when ATMs became ubiquitous. But it is more than a pure cost-efficiency play: more fundamentally, it is a strategic move to differentiate from competitors and save customers’ time by providing in a single easy-to-use portal all the financial information and workflows that customers need.

Click here for the full story on Finextra.

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