Interbank offered rates (IBORs) play a central role in financial markets. The Federal Reserve estimates approximately $200 Trillion in assets are tied to USD LIBOR alone. They are embedded into all functions of the financial markets from valuation, to performance, and risk management. However, since 2008, the growing scarcity of transactions in the unsecured market and the reluctance for banks to participate due to scandal have called into question LIBOR’s status as a global benchmark rate.
Robotic Process Automation
Adoption of Robotic Process Automation solutions is high in the financial services sector, particularly in banking and capital markets, insurance, and asset/wealth management. Transitioning to automated tools and solutions reduces the time and resources needed to complete redundant tasks, allowing firms to execute high-volume work with reduced frequency of errors.