Company Marks 10-Year
Anniversary with Above-Target Performance, Strongest Pipeline to
Date as Automation in Collateral Management Takes on Increased
Importance
LONDON, May 20, 2024
/PRNewswire/ -- CloudMargin, a leading global collateral management
technology company, announced today that it achieved 35% revenue
growth for the fiscal year ended March 31,
2024, ahead of its annual target. The company saw a rise in
the value of new annual contracts signed, along with increased
business from existing clients, as automation in collateral
management assumed a role of increasing importance in firms' risk
mitigation strategies.
The strong performance comes as CloudMargin celebrates its
10th anniversary as the world's first collateral and
margin management solution created specifically for the cloud. The
Software-as-a-Service (SaaS) company signed its first client – a UK
bank – in 2014. Today, clients range from asset managers and
pension funds to banks, brokerages, insurance firms, fund
administrators, outsourcers and major industry service providers
across the globe. They use the CloudMargin platform to manage their
collateral for cleared and uncleared over-the-counter (OTC)
products, exchange-traded derivatives, repo and Stock Borrowing and
Lending (SBL) products.
CloudMargin CEO Stuart Connolly
said: "We're extraordinarily pleased with the growth of our
franchise over the past year and the significant opportunities we
intend to leverage in this new fiscal year as we celebrate our
10th anniversary milestone. We have the strongest
pipeline in our history, and while we continue to see demand from
the buy-side, regional banks are now especially keen to ensure
their collateral and margin management program is robust and
state-of-the-art. Using the CloudMargin platform, firms can realize
substantial cost efficiencies and market-leading automation, with
customized reporting, dynamic dashboards to access real-time data
and seamless workflow across the entire trade lifecycle."
Connolly said numerous macroeconomic episodes over the past few
years have highlighted that in times of market stress, even some of
the largest firms and financial institutions have been challenged
by inadequate liquidity and preparedness for increased margin
calls. These events have captured the attention of regulators and
board members intent on preventing future disasters. He said
automation of collateral processing is now a necessity, as
evidenced by proposed measures announced last month by the
Financial Stability Board (FSB) to enhance the liquidity
preparedness of non-bank market participants for margin and
collateral calls during market-wide stress.
Over the course of the past year, CloudMargin's platform –
accessed in 52 countries by more than 210 organizations – processed
over twice the amount of margin calls exchanged in 2022. The
continuously enhanced platform released more than 1,130 updates and
introduced 30 new and improved features, automatically benefiting
users of the SaaS service.
About CloudMargin
Headquartered in London,
CloudMargin transforms financial services firms' workflows with
cutting-edge, SaaS collateral management technology. Over 210
buy-side and sell-side institutions across the globe rely on
CloudMargin to streamline their operations through automated,
end-to-end collateral management processes. Celebrating its
10th anniversary in 2024, CloudMargin has always been at
the forefront of innovation, creating the world's first cloud-based
collateral management workflow tool. Combining market-leading
process automation with flexible, real-time analytics, CloudMargin
delivers unparalleled efficiencies and risk reduction through
smart, simplified workflows and straight-through processing (STP).
A high-growth technology company, CloudMargin is committed to
solving client and industry challenges with its pioneering
solutions, helping firms navigate all market conditions. For
more information, visit cloudmargin.com.
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SOURCE CloudMargin