Sell-Side Technology Awards 2019: Best Sell-Side Mobile Initiative—Caplin Systems
Caplin Systems is back in the SST Awards winners' circle, taking home the title for the best mobile initiative.
![BestSellSideMobileInitiative_CaplinSystems](/sites/default/files/styles/landscape_750_463/public/2019-04/18aBestSellSideMobileInitiative_CapeSystems_LR.jpg.webp?itok=GaF8iOJf)
In last year’s Sell-Side Technology Awards, this category was won by Copenhagen-based Saxo Bank for its mobile trading platform. This year, however, it is London-based Caplin Systems in the winners’ circle, thanks to the implementation of its mobile multi-asset investment platform at Siam Commercial Bank Securities (SCBS). According to John Ashworth, CEO of Caplin, there were a number of challenges associated with the project. “The bank already had quite a sophisticated retail app doing simple things like current account management and straightforward payments,” he says. “It had its own very strict brand identity. The first challenge was to make sure that this new sophisticated application was consistent with that and maintained the same sort of standards and positive impressions in the market.”
Ashworth says there are significant benefits to be gained from people physically being on-site during roll-outs. At any given point during the SCBS project, Caplin had between five and 10 staff members on the ground in Bangkok. But he also concedes that some classic mistakes were made. Conference calls weren’t always easy to organize, he says, and the cultural differences were similarly challenging. “As we have gone through this process, twin factors of distance and culture reminded us of the importance of rigor around checking on requirements and design approval with senior management,” he says.
On the technology front, the bank relied on legacy systems to handle its traditional bonds and funds businesses. To Ashworth, establishing inter-application connectivity and linking them to a mobile application that provides a professional level of experience to a retail-type user is an exciting software challenge. Caplin plans to add equities and derivatives support in the coming months.
Half of Caplin’s business is around working with customers in the foreign-exchange markets. It currently has projects in disparate locations including Scandinavia, South Africa, Singapore and the US. He says that in the capital markets, in addition to the sophisticated retail sector, there are still concerns about using mobile versions of trading applications. According to Ashworth, mobile was traditionally used in the capital markets primarily for administrative processes. So, for example, mobile applications would reduce the number of sales people confirming order notifications, settlement dates, or amending orders with clients. “Most of the early mobile use-cases were in marketing and administrative savings,” he says. “Now we are at a point where those barriers are definitely coming down and we are seeing a lot more widespread adoption.”
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Waters Rankings 2024: Best performance measurement and attribution system provider—FactSet
Product/service: FactSet Performance Solutions
IMD & IRD Awards 2024 winner's interview: Tradeweb
Tradeweb won Most innovative market data project in this year’s Inside Market Data & Inside Reference Data Awards.
IMD & IRD Awards 2024 winner's interview: S&P Global Market Intelligence
S&P Global Market Intelligence won Best corporate actions data initiative in this year’s Inside Market Data & Inside Reference Data Awards.
Waters Rankings 2024: Best outsourcing service provider—Northern Trust
Product/service: Integrated Trading Solutions
Waters Rankings 2024: Best cloud infrastructure provider—IPC Systems
Product/service: Connexus Cloud
Waters Rankings 2024: Best buy-side order management system (OMS) provider—SS&C Technologies
Product/service: Eze OMS
Waters Rankings 2024: Best reconciliation management provider—Duco
Product/service: Duco platform