OpenFin Launches Workspace To Accelerate Standardization
OpenFin, the operating system (OS) for enterprise productivity, today announced the launch of OpenFin Workspace, a revolutionary product that accelerates the vision of a truly open ecosystem within the financial industry. OpenFin is now being used by 90% of global financial institutions and deploys more than 3,500 apps across 300,000 desktops.
Built on the company’s flagship operating system and designed in collaboration with customers, OpenFin Workspace allows business users to consolidate and automate their work across applications and tasks using a single, elegantly-designed interface that increases user productivity.
Today is an incredibly exciting day here at @openfintech! I am proud to introduce #OpenFin #Workspace ~ a beautifully designed, out-of-the-box desktop experience built in collaboration with our many amazing customers. #BuiltOnOpenFin https://t.co/npIsmAOlfb pic.twitter.com/XA6NDTJPCQ
— Mitra Roknabadi (@fintechmeetch) April 27, 2021
“Everyone who uses enterprise technology knows the workflow has become incredibly painful — too much manual intervention, constant interruption from too many channels, the inability for technology to help us focus on what’s important — and it’s time to turn things around,” said Adrian Crockett, OpenFin’s Chief Product and Strategy Officer. “OpenFin Workspace was developed to solve all these issues, but more importantly, it gives customers the ability to tap into a rich ecosystem of resources, powered by a thriving community of partners, without having to do all the technical heavy lifting themselves.”
Key components of the Workspace include a keyboard-driven digital assistant for app discovery and search; a browser built for work; a rich, actionable notification center; and a customizable app store.
“Our largest and most tech-savvy bank and buy-side customers are moving to use OpenFin Workspace and this represents a fundamental break from how these firms have operated for decades,” said Mazy Dar, OpenFin’s CEO. “It is a privilege to have earned their trust and it is a unique moment for the financial industry to finally turn the dream of openness into reality.”
The new offering provides a turnkey solution that simultaneously eliminates the need for costly development as it standardizes workspaces across the industry, which is significant given that large banks and asset managers have traditionally built their own workspace offerings at enormous cost in order to unify applications and automate workflow.
Small and mid-sized financial firms, on the other hand, usually don’t have dedicated in-house teams to develop a workspace solution, resulting in a poor and fragmented experience. With OpenFin Workspace, firms of all sizes will have access to a best-in-class solution that not only creates a unified experience, but also enables third-party applications to easily integrate into their customers’ internal environments.
OpenFin Workspace has been in a Private Beta with several major banks and asset managers for the past three months and is now available to all industry participants. The product is instantly deployable at more than 2,400 banks, asset managers and hedge funds where OpenFin OS is used today.
Data extraction and integration is the second stage of a digitization process.
Project Ion has shown that T+1 or T+0 settlement are effective use cases for DLT.
Jump Trading is undergoing its next evolution with the rise of open protocols and DeFI.
Clients can trade crypto plus stocks, options, futures, bonds, mutual funds and ETFs from a single screen.
Increased electronification has created useable and accessible real-time and historic trade data.