16 October 2018
Global fintech GBST (GBT.ASX) has today announced the launch of Syn~TAC SaaS at Sibos 2018 in Sydney, Australia. The industry-first SaaS middle office has been developed in partnership with Amazon Web Services, Inc (AWS) and is supported by leading Electronic Trade Confirmations (ETC) providers SWIFT and DTCC.
The cloud-based offering reduces deployment and running costs, and features advanced voice control, another industry-first which improves middle office efficiency with authenticated, secure and auditable Push-to-Talk (PTT) technology.
By partnering with AWS, GBST has been able to integrate with Amazon LEX™, allowing operators to augment their use of the system through voice queries and commands.
With the help of a virtual assistant called ‘Syndy’, system operators can analyse, investigate and manage exceptions efficiently and respond to queries whilst not interrupting workflows.
The new Syn~TAC SaaS offering builds on the success of Syn~TAC, the industry’s leading equities and fixed income middle office engine. Syn~TAC is installed at customer sites globally, including some of the world’s leading broker-dealers and Investment Banks, performing bookings, allocation, affirmation and confirmation functions in a fully workflow-enabled, browser-based solution.
As part of its cloud-enablement strategy, GBST has deployed the leading Syn~TAC system into AWS, allowing broker-dealers to onboard to the service within days rather than months. Syn~TAC has been architected for multi-tenancy, horizontal scalability and secure browser-based access so moving to a SaaS offering was a natural evolution.
“We are proud to be the first vendor to offer a SaaS middle office platform and partnering with AWS means we can provide the very latest in cloud and voice control technology. As our customers look to optimise their cost base whilst managing ever-changing buy-side demands, moving to a SaaS offering makes perfect sense,” says Denis Orrock, Head of Asia Pacific.
“We have had global success with Syn~TAC, encompassing diverse regional requirements across Asia, EMEA, North America and Australia. We are now leveraging our strong market position to further invest and provide significant innovative new solutions to existing and future clients across global markets.”
Syn~TAC has been architected to support all major services for comprehensive global processing from a single system instance, including SWIFT GETC, FIX, and DTCC CTM & Alert.
Alexandre Kech, Head of Securities and FX Markets at SWIFT commented on the launch:
“SWIFT needs the support of our clients’ partners in our mission of achieving standardisation, automation and ultimately risk and cost reduction. We are pleased that GBST will be enabling trade allocation and confirmation flows over SWIFTNet for our common customers.” he said.
Marisol Collazo, Managing Director, Business Development and Global Head of Strategic Partnerships at DTCC also commented:
“DTCC has worked with GBST for more than 15 years to deliver innovative trade processing solutions. We are looking forward to working with them on new offerings such as Syn~TAC SaaS,” she said.