We achieved 80% STP in trade confirmation for a leading global bank via automation

• A leading global bank was looking to automate the confirmation process for complex over-the-counter derivatives to enhance efficiency and build a scalable solution
• The process had low accuracy due to manual drafting and limited scalability to handle growing trade volumes
• Manual operations resulted in low straight-through processing (STP) rates, which slowed turnaround time and required a large team

Our team partnered with the client to develop a robust, automated solution.

• Data-driven roadmap: We began by analysing historical data to prioritise high-volume trades, which allowed us to create a detailed implementation roadmap with defined timelines
• Seamless integration: Our team conducted a gap analysis and then integrated standardised data feeds from the client’s risk management system. This ensured we could accurately capture all key economic fields needed for the confirmations
• Custom template development: For complex products, such as autocallables and barrier options, we developed and tested new templates. These were designed with built-in controls to handle exceptions
• Rigorous testing and quality assurance: We managed a structured development and testing phase to ensure the new automated solution was robust, accurate and fit for purpose
• Collaborative rollout: Before going live, we conducted rigorous user acceptance testing with the client’s stakeholders and provided ongoing support to ensure a smooth transition

Our solution delivered significant, measurable improvements to the bank’s operations.

• Significant efficiency gains: We increased the STP rate for confirmations to 80% from a baseline of 35%. This directly improved operational efficiency and accelerated turnaround times of the bank
• Substantial cost savings: The new process eliminated significantly high manual effort, delivering cost savings equivalent to the work of 10 full-time employees
• Enhanced accuracy and reliability: Automation reduced operational errors significantly, strengthening the accuracy and reliability of the trade confirmation process and reducing operational risk