What makes Babel different from other financial messaging services?
Several things. First, it offers unrivalled connectivity. You can connect to any funds network or messaging platform, allowing you to send and receive trade and settlement messages with any member of the funds ecosystem. And with full back-office integration, it provides end-to-end straight-through processing (STP). It integrates with Bravura’s transfer agency (TA) systems as well as third-party TA systems, cutting out the need for multiple network and TA connections – with all the frictions they bring in their wake.
We call it the funds network of networks. It is truly unique. An open architecture solution, it can run on any hosting infrastructure and link to any back-office platform. It is system-agnostic – it works with any legacy technology. It allows market participants to process huge transactional volumes across multiple countries and regions.
Babel’s scalability as a Cloud-based solution means you can trust it to process your order flow in any market conditions, including sudden spikes in deal flow. It has a proven track record of helping organisations boost capacity and scalability while reducing cost and risk.
What functionality does it offer?
Babel has rich functionality. It offers full trade lifecycle administration, executing and tracking the journey of each trade from initiation to settlement. With the transformation, enrichment and validation of data, plus automated workflow services, it boosts back-office productivity. For instance, when bulk messages come in, Babel automatically reorders them into the logical sequence for processing. Babel also supports the creation of investor accounts as well as updates to investor data in the back-office system as per instructions from counterparties received via the messaging networks. It has excellent business intelligence and reporting capabilities. All told, Babel is a highly cost-effective STP solution.
Babel has a full range of asset servicing capabilities – corporate actions, analytics to manage liquidity and enable investor servicing and reconciliations. And the platform integrates with external data sources via an extensive API catalogue.
How easy is it to monitor activity on Babel?
There is a simple user interface that provides transparency at every stage. Users are alerted by email about any irregularities, including types and severity, so they can intervene where required. Babel also has business intelligence and reporting capabilities. With real-time dashboards, you can monitor throughput and identify any issues relating, say, to a specific counterparty. Our clients love this aspect of Babel – that they can see everything and monitor progress in one place, sometimes calling it ‘mission control’.
Do we need to make internal changes to accommodate Babel?
No. Babel will run on any hosting infrastructure and connect to any back-office system in the format of your choice. There is no need to customise your core technology platform. We simply agree your preferred connection format at the outset, test it and deliver it according to your requirements.
Cloud hosting ensures it is always scalable and allows secure information sharing with your trading partners. It also underpins the resilience of the operating environment (Bravura is renowned for the resilience of its technology). An added advantage is that you can be live without disrupting your day-to-day trading operations.
What happens when message standards or file formats change?
We manage the changes so you don’t have to. Automatic updates mean you can utilise evolving message standards and adapt easily to future industry initiatives. You are always up to speed, and compliant.
If you’d like to learn more about Babel, Bravura’s funds network of networks, please don’t forget to join this webinar.
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