Software company Microsoft has launched Institutional Client Platform (ICP), a solution for buy- and sell-side firms that uses customer relationship management (CRM) and client analytics to provide greater visibility into client activity across financial product silos.
Microsoft claims the ICP enables firms to provide improved client service by integrating the communication infrastructure, including instant messaging, email and the trader’s turret system.
Microsoft and its partners have developed a platform that brings together all front-, middle- and back-office activity into a single view of the customer, which the firm says provides insight into a customer’s trading positions across the various product silos, and enables firms to cross-sell additional suitable products.
The launch phase of ICP focuses on distribution, which Microsoft believes is one of the most pressing areas for buy- and sell-side firms. It includes the following services: client on-boarding, event management, CRM, client classification, client analytics and integrated communications.
Financial services technology providers have worked with Microsoft to develop and implement ICP including GaleForce Solutions, Information Management Group, IPC Systems and Lab49.
The first implementation of ICP went live in September 2007 at UK stockbroker Execution. “We are delighted to have been the first to deploy Microsoft ICP,” says Mark Adams, development manager, Execution. “Since implementation, we have benefited from improved client relationships, more efficient research production and distribution, and better client accounts management through business intelligence. More importantly, the whole enterprise has benefitted from an integration of our CRM and communication systems.”