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Customer Engagement: The Heart of the Capital Markets

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4 August 2021
Brad Bailey

Customer engagement is a hallmark of Celent’s capital markets practice. Customer engagement is the nexus of the practice’s coverage. The center of the hub and spoke capital markets-the marketplace in the center, interfacing with their broker/dealer clients, in turn connecting to institutions of all types, who are surrounded by their clients-you and me. This is the capital markets, and ensuring transparent, open customer engagement is at the heart of all digital transformation whether in debt capital markets, equities, crypto, or FX trading.

Embrace the idea that client engagement today, is now shaped by three variables: data, data, and data. Data is the connective tissue of the emerging changes in customer engagement. For instance, consider the changes in the buy/sell side interaction, as explored in a discussion between Celent’s Head of Capital Markets and BBH recently, on the topic of client engagement (Customer Engagement in Capital Markets). The discussion looked at changes and digitization of customer engagement between buy side asset managers and sell side FX liquidity providers like BBH. This theme was recently explored in Celent’s research, The Future of FX Technology:

“Foreign exchange (FX), and its technology demands, are going through a series of evolutions and revolutions. The COVID-19-induced episodic volatility pushed many systems to their limits. In FX trading, the core interaction between liquidity takers and makers is moving rapidly to a “Show me the data”model of interaction, with ever-increasing expectations in the type of data and analytics expected between counterparties. Business and trading changes drive technology needs. Technology and data changes drive business and trading changes. Celent has seen a new wave of investment, with new levels of sophistication in the front-to-back FX platform of today.”

This holds true across asset classes and types of client engagement, as well as the technology required. The features of evolving front office tech stacks are to provide optimized engagement, insight, and a flexible sales and client experience.

Hence the capital markets ecosystem has changed its workflows and have developed optionality in client engagement through all channels: electronic trading, voice, electronic trading, and API. New business models and technology are emerging to meet the demands of this crucial intersection.

Regardless of the product-equities, or crypto—regardless of the type of engagement, the future of the capital markets will be improving customer engagement. In addition to Celent’s discussion with BBH that centered on the asset manager/sell side interaction, please visit our topic-specific hub page and view our firmwide webinar replay that highlights numerous types of financial institutions and their respective focus on client engagement.