As a lot of the workflow related to trading is automated, RMs can save a number of hours every week. This time can be utilized in offering advice to their clients around the assets they hold rather than around execution. Additionally, reports on execution can highlight how much the client saves when their RMs use an online system. Its also a big advantage for RMs who may not have additional resources to take care of execution. On the other side, clients are far more likely to trade with the bank as the costs are lower (sometimes banks have to charge extra to place manual trades) and also clients appreciate real time notifications and execution emails. RMs will also have far fewer orders not getting filled because of errors or simply because of logistical issues with manually places orders.
QUO’s pre trade checks can effectively block any orders BEFORE they get to the core bank system. For both RMs as well as the compliance / audit teams this is big enhancements. Traditionally, errors are caught after they are executed and results in both financial losses as well as reputational hazards if there are regulatory breaches. QUO Risk Management system blocks those trades and also highlights them to the central compliance team so that they can further fine tune rules around error trades. This can also help save time on the banks resource side.
The allocation process becomes really simple as the RM can now allocate the same average price across different accounts, instead of having to consolidate multiple trades.
QUO can help Wealth Managers reduce their data costs and also the cost of integration multiple systems. QUO is completely API driven and seamlessly connects to Core Bank Platforms and other systems.