Tieto has launched its Software as a Service (SaaS) solution to help financial services companies take better control of their capital markets operations and increase efficiency.
The Securities as a Service concept addresses securities traders' need to streamline their operations to increase margins while concentrating their resources on getting new customers and retaining current ones.
The new concept has been devised by experts with skills across the technology and process development sectors and capital and global markets. In addition to cost savings on IT infrastructure, the service will help the traders in providing new value as well as improve customer retention and loyalty against competition.
Jon Alvar Oyasaeter, Director Capital Markets & Life at Tieto's Financial Services explains: "Tieto's latest solution combines securities business expertise with IT excellence. It is all about taking care of operational and applications management and removing the need for a financial company to upgrade its IT systems itself. We take over complete IT responsibility for the trade lifecycle, from order entry to clearing and settlement. This includes flexible integration of third party plug-ins for algorithmic trading and smart routing as well as other necessary connections between solutions."
"The offering is built upon Tieto's strong track record in the financial industry and securities market. This gives us a solid knowledge base to widen our offering, and to enter new markets such as the UK. Having an IT partner that understands the implications of the latest market developments is key to responding rapidly to the raft of new regulations and requirements associated with risk management and liquidity issues," Oyasaeter continues.
"This new way of delivering services plays an essential role in our strategy going forward. Storebrand Bank, a leading player in the Nordic financial markets has recently chosen Tieto to provide SaaS for its capital markets business," Oyasaeter sums up.
Tieto's solutions for the financial industry include from banking services, internet banking and payment, and card and capital market services to development, application management and outsourcing.