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Real-time, proactive client experience management

Quickly and accurately advise clients how an incident has impacted their individual orders, trades or payments

Reliability, stability and efficiency are essential in maintaining client confidence. When problems occur, firms need to be able to quickly bring situations under control and rapidly quantify both the business and client impact if they are to avoid unnecessary financial loss and reputational damage.

Delivering real-time operational oversight across extremely complex payment, trading and exchange environments, Velocimetrics’ technology provides users with immediate access to the actionable insight required to achieve these objectives.  In doing so, enabling firms to proactively minimise the costs and negative impact on customer experience levels that can flow from an incident occurring at the infrastructure level.

With Velocimetrics’ technology emerging issues are instantly detected along with the problem’s root cause, enabling remedial action to be immediately instigated. Simultaneously, each and every order, trade or payment impacted by system or network issues is revealed, along with details of the clients they belong to.

Providing a detailed client perspective of the impact experienced, Velocimetrics’ technology enables users to accurately zoom in and rapidly quantify how individual clients, or different groups of clients, have been affected.

With this insight, issues can be quickly resolved and client-servicing teams have at their fingertips the information needed to provide clients with detailed and accurate advice about how their particular orders, trades or payments have been impacted. Furthermore, they could continue to provide clients with the current status of their particular items as they move through the issue resolution process. Potentially, clients could also be provided with an opportunity to identify exactly which of their impacted orders, trades or payments they would like to prioritise for repair and processing.

With this approach, when an issue occurs it can often be resolved in minutes versus hours or days, slashing failure rates and enabling client experience levels to be more proactively managed.

Avoid issues developing with predictive analytics and actionable insights in high volume environments

Employing comprehensive monitoring techniques and delivering detailed performance analytics; Velocimetrics’ technology provides complete operational oversight across complex environments. In doing so, users benefit from a real-time understanding of how all orders, trades and payments are moving across every single system and network that features as part of the end-to-end business process.

Delivering uncompromised visibility across high speed and high volume environments, Velocimetrics’ technology eliminates potential blind spots regardless of how complex, dynamic or geographically dispersed the infrastructure may be, notifying users the instant pre-agreed thresholds are breached.

By comparing the way in which items are flowing to past-trends and employing predictive analytics, users can also accurately forecast upcoming issues that could impact performance, the business and client experience.  With immediate access to powerful, actionable insights users can then make quick and effective decisions, often enabling steps to be taken to avoid the projected issue ever developing.

 

Reduce payment and trade failure rates through real-time alerting

Velocimetrics’ technology tracks all payments and trades as they move across intricate processing environments, from their point-of-entry to final exit.  This is even possible when the item’s identifier changes multiple times throughout the process as different systems allocate the item their own ID. In these situations, Velocimetrics’ technology is able to allocate each item an independent and unique identifier as soon as it enters the process and use this to track the payment or trade.  In doing so, dramatically simplifying the effort involved in identifying delayed or missing items as they move through the end-to-end process.

Velocimetrics’ technology enables users to be notified in real-time of any orders, trades or payments that may be experiencing difficulties. Providing early warnings to a wide range of situations, Velocimetrics’ technology could for instance alert users if:

  • A payment instruction is approaching its cut off time and has not yet processed through enough stages for completion to be possible without manual intervention
  • A trade or payment is not received by the next logical system within a process in an expected time-frame
  • A payment has entered a state known to require manual repair, such as failure to pass a sanctions check because the recipient resides in a country the provider is unable to do business with

With these real-time alerts, users can get one step ahead and quickly deploy the manual resources necessary to repair the item.  In doing so, often preventing an item that would have otherwise failed from doing so and negatively impacting the client’s experience.

 

Instantly quantify an issue’s business and client impact

More conventional monitoring approaches will often enable infrastructure groups to very effectively detect and subsequently fix developing issues, that could impact performance, such as a queue that’s building, a full disc or network delays.  However, these techniques can prove limiting when users are looking to quantify how the issue has impacted the business’s exposure or limit the issue’s impact on client experience levels.  To address these types of requirements, you really need to know exactly which orders and trades have been affected, how they have been impacted and the clients they belong to.

Velocimetrics’ technology seeks to overcome these difficulties by providing each team involved in the incident’s management with the relevant, actionable insight they need to effectively manage and control the issue.  In doing so, providing the operational oversight necessary to identify the issue at an infrastructure level and link this with the resultant client impact. Providing technical and operational teams with the insight necessary to detect, locate and forensically investigate the problem, whilst enabling client servicing teams to understand exactly which orders, trades and payments have been impacted on an individual client-by-client basis.

This approach offers significant opportunities to enrich client management capabilities, enabling for example, servicing teams to:

    • Proactively communicate that an issue has occurred to clients, before they become aware of it, demonstrating efficient management and control
    • By contacting clients, understand if there are particular items they would like prioritised as soon as the issue is resolved
    • Provide clients with accurate status reports for their individual items throughout the recovery process
    • Identify concentrations of high value payments or large numbers of trades halted within particular systems so technical teams can focus on their release first
With Velocimetrics' technology, when a technical issue occurs, technical, business and customer facing teams can all access the actionable insight they need to understand the issue's impact based on what matters to them and effectively control it

With Velocimetrics’ technology, when an issue occurs, technical, business and customer facing teams can all access the relevant, actionable insight they require

To learn more about how Velocimetrics’ contemporary approach to monitoring enables technical, business and client facing groups to benefit from the insight achieved, you might like to read “Trade flow monitoring – that’s just for techies right? Think again“.

 

Avoid SLA breaches through intraday client or participant performance reporting

With Velocimetrics’ technology captured data can be analysed by a range of metrics, including by client. It also enables reports to be produced on both a scheduled and intraday basis on demand.

This approach enables the performance of orders, trades or payments submitted by individual clients or groups of clients such as high value customers, DMA users or direct participants to be understood.

Analysis can be performed on an on-going basis for individual orders, trades or payments, parent orders executed as child orders or batched payments. In doing so, all transactions that form part of the batch, or parent order, in addition to the item’s aggregate performance can be analysed against critical SLAs avoiding breaches and associated fees. 

Beyond monitoring: Where is your solution on the business value spectrum

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“It’s about instantly understanding how an issue has impacted clients and advising each client of the impact on them vs just reacting to clients who have become aware their payments are late, or trades haven’t been executed, before you are able to identify this has happened”

Paul Spencer, COO, Velocimetrics

Benefits

  • Assess issues in minutes versus hours or days
  • Curtail on-going issue impact, reducing failed payments by up to 40%
  • Considerably reduce the time and costs associated with managing incidents
  • Automate initial impact assessment activities, achieving over 90% accuracy
  • Quickly quantify client and business impact at the aggregate level
  • Rapidly understand which orders, trades or payments have been impacted
  • Avoid SLA breaches and regulatory failure fines
  • Increase client satisfaction

With Velocimetrics exchanges can avoid SLA breaches by:

  • Accurately comparing the speed of participant connections
  • Validate if orders entering the exchange gateway are being matched in their order of receipt
  • Understanding if orders are being matched within SLA timeframes
  • Determining the timeliness of fill or partial fill acknowledgements

With Velocimetrics payment providers can avoid SLA breaches by:

  • Assessing payment completion rates by client
  • Monitoring the payment flows of clients paying for a premium service
  • Being notified of payments approaching their cut off time that have not completed processing