FIRMS THAT EMBRACE MARKET COLLABORATION WILL BE BEST PLACED TO ACCELERATE READY-TO- TRADE, READY-TO-SETTLE AND READY-TO-REPORT PROCESSES THROUGH AUTOMATION AND AI. industry: Getting data right through automation and AI is a top priority for all industry participants. Firms that embrace market collaboration will be best placed to accelerate ready-to-trade, ready-to-settle and readyto-report processes through automation and AI,” said Michiel Verhoeven, CEO of Xceptor.
INDUSTRY WATCH to dominate critical processes, especially for regulatory reporting( 80 %), client onboarding( 79 %) and trade reconciliation( 77 %). Most exceptions take hours – or even a full day – to resolve, increasing operational risk and inefficiency.
• Manual work is costly: Nearly 60 % of respondents acknowledge the financial burden of exception handling, with almost 60 % citing the need to put up to 5 % of annual capital aside to cover remediation costs each year.
“ As trade volumes continue to rise and regulatory demands such as T + 1 and the EU Faster Initiative intensify, firms are under pressure to modernise or risk falling behind. The Crisil Coalition Greenwich report confirms what we continue to witness firsthand in the
FIRMS THAT EMBRACE MARKET COLLABORATION WILL BE BEST PLACED TO ACCELERATE READY-TO- TRADE, READY-TO-SETTLE AND READY-TO-REPORT PROCESSES THROUGH AUTOMATION AND AI. industry: Getting data right through automation and AI is a top priority for all industry participants. Firms that embrace market collaboration will be best placed to accelerate ready-to-trade, ready-to-settle and readyto-report processes through automation and AI,” said Michiel Verhoeven, CEO of Xceptor.
AI adoption is growing but uneven across the industry
The study also explored the state of AI adoption in the industry. While 60 % see AI as important to their transformation strategy, nearly one-quarter believe it is not important. Despite growing awareness of AI’ s potential, adoption remains cautious. Today, only one-third of firms report already using AI. Two in five( 43 %) plan to adopt AI in the next two years and nearly one-quarter( 23 %) have no plans to adopt AI.
Key perceived benefits of AI adoption are enabling employees to spend more time on strategic work and automating manual tasks, while integration challenges, internal stakeholder buy-in and management controls remain key concerns.
Commenting on the findings, Dan Reid, CTO and Co-Founder of Xceptor added:“ AI has the potential to revolutionise how firms manage and transform data and workflows. To unlock this potential, adoption must be part of a strategic approach to data automation. Automating high-risk, manual processes can enable firms to reduce operational risk and improve regulatory compliance when implemented with effective controls in place.” p
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