Global Markets Trends: Enabling Murex for a Digital First strategy

At MapleRisk we are continuously engaging with our clients on the topic of leveraging their existing technology assets for tangible business benefits. One of the themes that has become quite central for our clients using Murex is how to transform their existing Murex implementation to enable a Digital First business strategy.

Business heads and CTOs are under constant pressure to reduce operating costs and yet expected to deliver trading platforms that are competitive differentiators. Below we have identified five global markets trends that are underpinning Murex transformation strategies across the industry. The emphasis is on closer alignment between business and IT and implementing what we call digital bridges that deliver immediate business benefits and at the same time support the longer term Digital First business strategy.

  1. Digital First Mindset: Ten years ago a daily interval of information flow for client, risk, or even regulatory reporting was almost acceptable. Today a key trend and competitive differentiator is being able to provide real-time data discovery to both external and internal users. Clients that have a Murex-centric data discovery framework that needs renewal are taking a series of steps, which we will discuss in a future post, that will expose their Murex data and analytics in business real-time through a digital framework for both internal and external consumption.
  2. Big Data in the Murex World (Data Extraction, Visualisation and Risk Analytics): Another trend we are seeing is a big push across most Murex clients to refactor their current data extraction and presentation processes using modern tools to improve performance through automation and streamlined workflows. Existing data frameworks are often developed in silos which are overly complex to change and expensive to maintain. The first step in digital realignment is to rationalise the existing data framework.
  3. Cloud Computing: Murex has recently been made available on AWS and Azure and we see a wave of initiatives to migrate computing infrastructure to take advantage of elastic cloud compute and increased performance in a cost-effective way. A combination of refactored data discovery frameworks and cloud enabled computing can take the organisation closer to real-time information flow without drastically changing their infrastructure.
  4. Business Transformation & Murex Restructuring: A fourth trend is looking at the business as a whole so Murex restructuring and optimisation should be business driven and run hand in hand with refactoring the technical framework. A lot of the business processes are aligned with legacy data frameworks which must be renewed in conjunction with business transformation to realise the full benefits of a Digital First business strategy.
  5. Digital First Strategic Realignment: Making change happen is difficult. Murex programmes have traditionally emphasised “technical integration & operations” with less focus on business alignment. Now that Murex is embedded within the organisation we can think more strategically about how Murex data and functionalities can be harnessed for competitive advantage. Our Digital First advisory can look at your Murex implementation from a business effectiveness point of view and offer an action plan to reduce transaction costs and unlock growth potentials.

In addition to strategy and management advisory we’ve been successfully helping our global markets clients deliver complex Murex change programmes through an Agile DevOps approach. Our domain experts are embedded within your team. They collaboratively work within our Agile DevOps framework that draws from multiple disciplines including solution architecture, engineering, and data scientists backed by a deep understanding of front-to-back trading and risk management fundamentals.

Please do get in touch if you want to learn how we can help you transform your existing Murex implementation to enable a Digital First business strategy.