Taskize has introduced a new tool designed to track and quantify the impact of email communication in post-trade operations.
Emails have long played a massive role in in post-trade processes. A custodian bank might handle over a million emails a year just for external queries, and even more for internal communications. This heavy email traffic can lead to numerous challenges, including errors and difficulties in auditing unstructured data.
The new tool, Mailbox Analyser, helps firms understand the scale of their email usage by identifying which types of client enquiries and which clients generate the most emails. It also provides insights into resolution times and efficiency.
By integrating with the Taskize platform, it monitors a firm’s email traffic and automatically generates detailed analytics on activity and service levels, resolution times and ratios, staff resourcing and performance, regional and team comparisons, and query types and trends.
James Pike, interim CEO of Taskize, said in a statement: “Email remains the most prevalent method for resolving counterparty queries within financial institutions, but it is far from the most efficient. With operations spread across multiple geographical regions and each query often requiring the collaboration of several counterparties, the volume of emails generated can quickly spiral out of control. Smart resource allocation is crucial, and gaining a clear, data-rich understanding of where issues are arising is a critical first step in enhancing the process.”
Kishan Bharwad, head of product at Taskize, said in a statement: “The Taskize Mailbox Analyser is an important extension of the capabilities of our platform, coming in direct response to burgeoning demand from firms with little to no insight into the workflow efficiency of their email-based problem resolution processes. Once bottlenecks and inefficiencies are identified, it is much easier to prescribe effective solutions.”