Entering 2021, the transition from IBOR to Risk Free Rates is moving to the final stages. With over $800 Trillion of Financial Contracts governed by the soon to be defunct rate, the task to transition documentation and systems to Risk Free Rates has been huge. While a lot of the work has been done, there are still crucial steps yet to be taken.
In the final stages of the transition, emphasis is on client communication and negotiation. Discussing and agreeing on remediation action, reviewing client feedback and finalising new contracts are some of the concluding and time-consuming efforts left to get the transition finalised.
Where many firms have looked to Intelligent Automation to address the gaps throughout the process, this stage requires finding just the right balance between nurturing customer relations and streamlining the process in the most effective way.
To explore this further, register for our executive roundtable where we will be discussing the final stages of the IBOR transition focusing on optimising client communication and negotiation to meet the deadline in 2021.