Itaú Securities taps Genesis Global to build its new trade automation and client portal system.
Low-code platforms like Genesis Global (an Insight Partners’ portfolio company) provide ready-made, reusable code components that can simplify and speed up the development process.
The securities arm of a Latin American banking group, Itaú Securities, is using technology from Genesis to design a new cloud-based system that will automate pre-trade workflows – saving time and effort for traders – and create a more comprehensive client experience overall.
Genesis’ platform has reusable “building blocks” that financial institutions can use to either launch services or integrate new apps into their existing legacy systems. For example, a consortium of global banks recently worked with Genesis to build an electronic trading platform about five times faster and at a fraction of the cost than they could have otherwise, a Citi exec previously told Insights Distilled.
Itaú is the “perfect environment” for Genesis because of its ability to integrate with multiple systems both internal and external to Itaú and because of its domain expertise in trading.
Citi, Bank of America, and BNY Mellon recently invested $20 million into Genesis.