GFT, one of the world’s leading IT solutions providers for the financial services industry, today announced that the firm has been shortlisted in the category of ‘Best Offshored Outsourcing Team’ at this year’s NOA Outsourcing Professional Awards.
The annual NOA Offshored Outsourcing Award distinguishes outsouring projects that deliver services for the UK market. They seek to recognise the talents of the broad array of the outsourcing professions including: relationship managers; operations directors; CIOs; consultants; lawyers, who drive and achieve outstanding success within the industry.
GFT has been shortlisted for helping a major multinational bank tackle the ‘Volcker Rule’ regulatory IT project challenge. The challenge GFT helped address was to assist the bank with meeting its regulatory reporting requirements to accurately separate proprietary trading and trading on behalf of clients, and measure the length of its trading positions. The big data challenge was to calculate the inventory age of assets, measure this on a daily basis and compare them to previous positions.
The GFT experience in Investment Banking enabled the team to challenge the bank‘s requirements and shape them into pragmatic deliverables that met both the regulation demands and tight timescales. The overall success of the project has given the bank strong foundations to meet ongoing Volcker metric requirements in 2014/2015 and enhances the bank‘s reputation with its industry peer group from a business and IT perspective.
In this video, Karl Rieder, Executive Consultant, GFT, talks about the GFT solution in place to help their clients be Volcker compliant by using the right big data technologies. (http://www.youtube.com/watch?v=MTqZCid0LW0)