Genesis receives strategic investment from Citi to drive its key innovation priorities
genesis receives strategic investment from Citi to drive its key innovation priorities
London, New York – Monday, 5th October, 2020:
Genesis Global Technology Limited (hereafter Genesis) the global financial markets software firm, has received a strategic investment from Citi via its Markets FinTech Investments and SPRINT groups to leverage Genesis’ “Low-Code Application Platform” (LCAP) to drive its key innovation priorities. Genesis’ LCAP, enables financial firms to accelerate the delivery of technology roadmaps with a clear focus on identifying and delivering digitization opportunities across business lines. These initiatives ultimately increase business workflow efficiencies and reduce costs not only within a firm, but also drive innovation for the benefit of the industry as a whole. The amount and terms of the investment are undisclosed.
As financial markets firms grapple with the challenges and economic pressures posed by the COVID-19 pandemic, appreciation is growing for the considerable efficiency advantages that low-code offers both within financial markets and the overall industry. At this pivotal time, financial firms are being driven to fully digitize manual, repetitive workflows, in addition to the novel requirements driven by the transition to remote working. Across the sector, there is increased adoption of cloud-enabled software tools and applications with firms realizing the benefits of greater agility and scale at speed that these solutions deliver.
Unlike generalist low-code providers that cater to straightforward business processes, Genesis LCAP is the only low-code platform tailored for the specific requirements of the financial markets. While capable of delivering these simple Business Process Management (BPM) improvements, Genesis LCAP extends to address the specific and often highly complex financial markets use cases demanding highly resilient, scalable and performant solutions integrated with cloud technology.
Genesis designs and delivers a suite of solutions using the Genesis LCAP across financial institutions’ business lines. These range from tackling direct automation use cases, such as End User Computing (EUC) replacement and client servicing portals, to addressing complex opportunities including automating end-to-end electronic trading workflows and mobile framework applications. Genesis LCAP has proven able to readily scale and to be fit for large, global institutions, delivering both rapid development and easy integration across the organization.
Commenting on the partnership, Nikhil Joshi, Managing Director, Global Head of Spread Products Technology and Head of Markets Technology for NAM at Citi said: “The Low-code application development paradigm has increasingly gained momentum in the financial industry and has the potential to change the way the industry develops applications in the future. Genesis complements our mainstream application development methodologies, and integrates with them quite well. We are very much looking forward to partnering with Genesis to accelerate Citi’s digitization journey.”
Stephen Murphy, CEO of genesis, said: “Our low-code application platform is essentially democratizing product design. We are delighted that Citi has chosen to partner with Genesis and believe this strategic relationship puts us in a very strong position to not only grow, but also lead a critical effort to deliver low-code application development across the financial markets. Clients can create custom built products and solutions without having to write substantial lines of code and solutions can be developed on average 80% faster than building from scratch.”
Email: [email protected]
Tel: +44 (0)20 7959 2235
Notes to the Editor
Code less, Do more
Genesis is the only low-code application platform built for financial markets offering a fresh approach to helping firms adapt and innovate their business and operating models in an ever challenging, and constantly changing environment.
Pioneering vision, coupled with our technical innovation, is at the heart of everything genesis does. We achieve agile and rapid application delivery through our state of the art microservices based framework and business component library. This is augmented with our “no-code”, “low-code” and “pro-code” development tools that empower users and democratizes product design.
We have made a multi-year investment in the framework that breaks down business problems into small functional components and has been built on the core principles that solutions must be highly performant, resilient, robust, secure & compliant for the capital markets industry.
Whether buy-side, sell-side, execution venue or clearing house, firms call on genesis to help redefine operating models and deliver outstanding value and services. Our strong product portfolio and investment roadmap allows us to collaborate with clients to offer a powerful combination of both off-the-shelf and client specific solutions.
The experienced leadership team has a unique perspective into the issues facing the industry, having worked at leading financial institutions and capital markets software vendors around the world.
For further information visit www.genesis.global