Symphony the leading markets infrastructure and technology platform is partnering with Unqork, the leading enterprise no-code platform, to solve capital markets business challenges, by digitizing the industry’s core processes while streamlining secure collaboration and improving auditability.
Capital markets operations processes are highly manual, require ad-hoc collaboration and offer inconsistent transparency. Some of the current challenges in this space include client onboarding, account servicing as well as and other middle and back-office trading operations tasks.
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Through this partnership, Symphony and Unqork will focus on the digitization of critical core processes such as client onboarding, private assets deal lifecycle, client servicing, and trade exceptions management. The Symphony platform augments workflow through its unique secure and compliant collaboration, adding transparency through real time notifications to front, middle and back office participants on the buyside, sellside and custodians. Unqork’s no-code platform enables the digitization of the missing layers of these workflows that are typically siloed, with a significantly faster time to market than traditional development methods that require coding. The combination of both platforms will provide an innovative and effective market solution.
Symphony’s head of operations workflows Kate Chatzopoulos said: “We’re excited to partner with no-code platform Unqork to solve urgent industry challenges. Both companies are committed to deliver best in class solutions and integrations that will allow financial institutions to do business more efficiently.”
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“Our partnership with Symphony is a key part of Unqork’s commitment to support the capital market industry’s drive for faster transactions at scale,” said Rabih Ramadi, head of financial services and insurance at Unqork. “We are looking forward to working closely with Symphony to help our customers digitize their workflows and communications across internal teams, clients and vendors.”
In its commitment to deliver networked market infrastructure, Symphony CEO Brad Levy has previously shared that the company would buy, partner with, or acquire strategic assets for itself and the industry. On June 24, Symphony announced it had acquired the trader voice and electronic communication company Cloud9 Technologies while on August 3, the company announced the acquisition of counterparty mapping platform StreetLinx. In the last year, Symphony has also established partnerships with Genesis Global, AccessFintech, and Saphyre.
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