Case Study
The future of fixed income markets
agora is a UK-based financial technology company focused on transforming the entire lifecycle of financial instruments from issuance to redemption. Powered by Corda, their Syndicated Bond and Structured Products applications enable issuers, syndicate banks and other service providers to collaborate and streamline information sharing in real-time.
Challenge
Inefficient Communication Channels and Tools
Market participants continue to rely on voice calls, emails, and chat rooms which results in time delays, errors in manual data transcription, and high reconciliation costs.
Lack of Automation and Intelligent Processing
Manual processing is expensive and often leads to delays, data reconciliation issues and the occasional erroneous payment leading to the risk of large losses.
Solution
Digital Signatures
Smart bonds are digitally signed and available to all participants in the deal, eliminating the need for manual inputs, costly reconciliations and a centralized data repository.
Leverages Corda Permissioning
Provides the strict privacy controls, high scalability and strong identity validation capabilities to bring data synchronization and trust across untrusting parties.
Results
Reduces Reconciliation Costs and Time
Removes the need for manual reconciliation and results in 93% reduction in time spent on indications with $15,000 in annual savings per syndicate team member.
We are building a business with Corda as a central component to digitally service all the participants in the bond market throughout the lifecycle of a bond. Corda provides a confidential, scalable, interoperable and permissioned DLT that allows us to work collaboratively to join data silos together. This ultimately leads to enhanced functionality, efficiency, and service, as well as greatly improved levels of straight-through processing.
Charlie Berman—CEO and Co-founder, agora
