Revista Systems has added new functionality to its recently launched Revista CCM solution, including enhanced transaction communication audit and scrutiny capabilities, and improved performance management monitoring.
Revista designs specialist solutions to support the unique communications needs of the global financial services community.
Revista CCM transforms a user’s ability to demonstrate effective transaction scrutiny and audit capabilities both internally to senior management and to the external regulators. The new functionality enables surveillance and compliance officers to be alerted as soon as any high-risk transaction is initiated by an individual or team. The system automatically tags all relevant communications, irrespective of whether generated by chat, voice or email. So, if an investigation is initiated by the regulators or dispute resolution is required, the surveillance or compliance teams can now very quickly retrieve a complete audit trail of all communications related to each transaction. This capability is particularly relevant for all financial institutions who must be able demonstrate their ability to comply with the forthcoming, stringent MiFID II regulation.
A further major benefit of the new Revista CCM functionality is the improved performance management capabilities it delivers. Senior managers can obtain immediate oversight of all staff and their related transactions without having to wait for end of day or reports from multiple booking systems. The ability to capture more data, related to enquiries and trades enables very detailed analysis of client performance providing vital information, such as, the number of enquiries that are being converted into profitable business transactions, or how much time is actually being spent discussing opportunities before conversion or not. This enables management to very quickly pinpoint problem areas, or to rapidly exploit more profitable revenue streams. It also provides the ability to create personal development programmes which will help to improve overall business and individual performance, productivity and time management skills.
Umesh Patel (pictured), Head of Business and Product Development at Revista Systems, says: “Whilst MFID II is today’s hot topic, all financial firms are also under extreme pressure to not only attract new customers but at the same time cut costs and improve profitability. Our new functionality significantly extends a user’s ability to achieve both of the above. Without a Revista CCM, for example, currently there is no easy way to identify and monitor larger risk transactions before execution which could result in punitive financial and reputational damage for the business. The new performance management tools will also provide senior management with much deeper insights into individual and team performance. This in turn will deliver a significant competitive advantage through constant performance management and monitoring capabilities which were previously unavailable or at least very difficult to achieve.”
