The partnership turbo-charges sell and buy side firms with knowledge for faster and more informed decisions by interfacing Glue42-enabled financial desktops with LodeStar’s AI-powered chatbot.
Glue42, the company that delivers integrated desktop experiences to financial institutions globally, and LodeStar Ecosystems, the FinTech startup behind LodeBot, an AI-powered, personal digital assistant for brokers, traders and asset managers, today announced a formal partnership to further improve the productivity and workflow for buy and sell side teams.
The partnership helps sales and trading teams integrate their clients’ enterprise data sets across all applications on the financial desktop and apply real-time business intelligence to identify actionable opportunities.
“Information overload is just the start of the problem,” said Alan Clark, CEO, LodeStar Ecosystems. “We’re dealing with a broken knowledge chain. Market professionals struggle to make sense of siloed information as a result of systems that can’t communicate. By breaking these siloes and automating business intelligence across the financial desktop, we can greatly simplify the trading workflow.”
“Especially during extreme market volatility, this approach helps improve performance and productivity and significantly lowers risk – regardless of the available screen real estate,” Alan continued.
LodeBot pulls and analyses all teams’ and their clients’ information, like orders, research and news and then proactively generates stories and suggestions about those assets for specific clients, identifying patterns and filtering out the noise. In turn, the Glue42 integration platform makes sure that the data between all applications – such as OMS, CRM, data systems, analytics platforms and more – flows seamlessly, and helps build consolidated application workspaces where unnecessary navigation and copy/paste is eliminated.
“Financial institutions are committed to becoming data-driven enterprises through digital transformation, but they have a serious challenge with the growing technology stack. Success requires finding ways to continually leverage the valuable business knowledge and insight while laying the foundations for agility and flexibility going forward,” said James Wooster, COO, Glue42.
He continued, “This partnership is a logical step for us in our pursuit to help financial organizations deliver next-generation trading platforms that increase the speed and quality of execution, maximize internalization, and better exploit market knowledge.”
For more information, read Glue42’s latest paper: Modernizing Legacy Systems: Why Loving Legacy Apps is Key to Capital Markets’ Digital Transformation. You can also attend its upcoming webinar: A Practitioner’s View of Legacy Migration on July 16, 2020 at 10 AM ET.