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Reconciliation is an essential but complicated operation for securities transactions and the good news is that technologies are emerging to help securities firms squeeze out inefficiencies while helping them look to the promise of robotics and other emerging technologies.
So says Nick Padgen, director of operations at Pzena Investment Management, a firm based in New York City. He spoke to FTF News for a video chat during FTF’s SecOps North America conference held in Toronto last month. He was a panelist for the “Finding the Right Recs Path” session.
“From my point of view … the most exciting thing is RPA [robotic process automation]. We’re working with our vendor on a proof-of-concept, employing RPA to get rid of some of the manual processing,” Padgen says. “Other than that, we’re just looking to refine our processes. We’ve been able to cut down on rec time in the last couple of years and we continue to aim to do that. So, we’re looking at cutting another 10 percent this year.”
CREDITS:
Video Production: Janene Knox and William J. Poznanski, Jr.
Interview conducted by: Eugene Grygo, chief content officer, FTF News
Co-Producers: Sarah Hathaway, vice president, Financial Technologies Forum (FTF) and Eugene Grygo
- Read More:
- Eugene Grygo,
- FTFSecOps,
- Nick Padgen,
- SecOps North America 2018,
- reconciliation,
- securities transactions
