Facilitating Collaborative Business Models through SaaS Implementations, by Howard Boville

Posted by Howard Boville on May 10, 2011 · Leave a Comment 

Informed by a panel discussion on the future of innovation, Howard Boville, BT Global Head of Trading Communications, Global Banking and Financial Markets, discusses how his company is providing software as a service (SaaS) tools to help the finance industry develop collaborative business models designed for greater efficiency.

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A recurring theme in the BT/X Prize Foundation panel discussion I chaired was the need for businesses in all industries to develop collaborative business models. Several examples within finance were raised, including open-source credit default swap mechanisms developed and shared by JP Morgan Chase and collaborative fraud detection activities launched sector-wide. At BT Group, we are adding to this collaborative environment through the development of industry-leading SaaS trading solutions.

In late 2010, the New York Stock Exchange announced that it would be implementing one of our trading solutions, designed to facilitate collaboration between member firms. Built with customization at every level, this BT suite of cloud-based trading services will allow each firm to build an individualized trading booth with all of the tools it needs and none that it doesn’t. Through a pay-as-you-go model, BT is creating collaborative value, not only for us, but also for users and their clients.

This SaaS trading implementation improves workflow efficiencies, leads to greater trading productivity, automates many regulatory requirements, and facilitates communications between all teams involved in a financial transaction. Furthermore, it does so in a way optimized to human latency, or the amount of time it takes an individual to process information. Information is presented in a digestible format, so that key players can make informed decisions in a timely manner.

BT sees this cloud-based SaaS model as a major step toward a more collaborative and innovative financial industry. To learn more about the NYSE trading implementation, visit the BT Group website. You can also hear more of my thoughts on the future of BT’s SaaS solutions in this video interview:

BT Future Delivered. . .

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