Surprisingly, Brian Collings, CEO of Torstone Technology, thinks that the biggest cost of post-trade operations actually stems from the transition away from legacy platforms to updated systems rather than the people costs that have traditionally been the focus of belt-tightening Ops managers.
FTF News conducted this video interview with Collings during the Sibos conference in London last month.
Collings says that over the years staff costs have been consistently driven downward.
“So, it’s coming to the point where not much more of that can be done. It’s more, ‘How do you automate the remain of what you’ve got?’ But there is a transition of moving from a legacy platform, for example, to a more modern platform. There’s a hump that people need to take a sort of a five-year view on how they can get that repaid over that period. So, still very much a cost but the hard thing is getting over that initial transformation and hump.â€
To get through that transition, financial services firms will need a short-termed phased approach, says Collings.
CREDITS:
Video Production: Janene Knox.
Interview conducted by Eugene Grygo, chief content officer, FTF News
Co-Producers: Sarah Hathaway, vice president, Financial Technologies Forum (FTF) and Grygo
RemotoWorkforce US Knowledge Base
Visit more contents at our Staffing & Recruitment’s Blog.
Watch Do Ops Legacy Systems Cost More Than Staffing? from FTFNews06 on YouTube
More about this video from FTFNews06
Tags on this video: Securities Operations,Automation,Back-Office,Regulation & Compliance,Regulatory Reporting,Data Management,Operational Risk,Governance,Risk Management,Integration,Middle-Office,Standards,General Ops,FTF News,Eugene Grygo,Brian Collings,Torstone Technology
Related Posts at Remoto Workforce US & Canada:
-
Collaborating with recruitment agencies such as Remoto Workforce can be an effective way for companies to maximize their investments in the recruiting and hiring processes. Using a Recruitment Agency is Cheaper Than Hiring Staff on Your Own. RemotoWorkforce US Knowledge Base Visit more contents at our Staffing & Recruitment's…
-
StaffingLecture By: Ms. Madhu Bhatia, Tutorials Point India Private LimitedRemoto Workforce - Knowledge BaseVisit more contents at Remoto Workforce´s Blog.Watch Staffing on YouTube.More about this videoTags on this Video: Staffing,Class 12Th Business Studies
-
Remoto Workforce - Knowledge BaseVisit more contents at Remoto Workforce´s Blog.Watch Staffing Manager on YouTube.More about this videoTags on this Video:
-
The onboarding process is the most important part of your company’s recruiting and hiring strategy. Learn more about the US staffing onboarding process here.
-
Rob Alvarado shares the new staffing kits to help teams with hiring.Remoto Workforce - Knowledge BaseVisit more contents at Remoto Workforce´s Blog.Watch Staffing Kit Help on YouTube.More about this videoTags on this Video:
-
Catalytic's Michael Barney discusses automating and digitizing the staffing process.RemotoWorkforce US Knowledge BaseVisit more contents at our Staffing & Recruitment's Blog.Watch Staffing 365: Automation and AI for Staffing from Catalytic on YouTubeMore about this video from CatalyticTags on this video:
-
In this last Staffing Insights episode of the year, Brian Wallins, Research Manager at Staffing Industry Analysts (SIA), and John Healy, Vice-President and Chairman of the Blockchain Taskforce of the World Employment Confederation (WEC), discuss the emergence of online platforms. From the use of platforms for recruitment or for learning…
-
Staffing companies are in the business of helping employers shoulder the burden of maintaining an efficient, productive, and skilled workforce. The true value of staffing companies and the services they provide go far beyond simply hiring a temporary employee.Remoto Workforce - Knowledge BaseVisit more contents at Remoto Workforce´s Blog.Watch The…
-
Utilizing a staffing agency is a great way to increase productivity, efficiency and hire the right people for the position. Businesses are looking for employees that can help a company run smoothly. As staffing agency, you ought to understand the issues that these companies face. As you ensure many of…
-
Former Biodesign Fellow, John White, explains how to create a staffing plan and validate it using ratios and comparables analysis.Remoto Workforce - Knowledge BaseVisit more contents at Remoto Workforce´s Blog.Watch Staffing Plan on YouTube.More about this videoTags on this Video: Biodesign,medical device,innovation,medtech,medtech innovation,Stanford Biodesign,Market Analysis,Operating Plan and Financial Model,John White
-
Kevin Dee, CEO of Canadian professional staffing company Eagle, explains how payroll for contractors and temporary employees works at a recruitment agency.Remoto Workforce - Knowledge BaseVisit more contents at Remoto Workforce´s Blog.Watch Payroll at a Staffing Agency on YouTube.More about this videoTags on this Video: Payroll,Employment Agency (Industry),temporary work,contracting,staffing industry
-
With revenues up and an economy that continues to grow, 2019 looks like another great year for the staffing industry. Here are three trends staffing professionals are likely to adopt in the months ahead.---Subscribe to Monster on YouTube: rNeed to find a job? Become a Monster member today: WWant career…
