Fat finger errors
Phil is the Head of Treasury for a Canadian bank. He is extremely irate that a Sales & Trading’s associate made a ‘fat finger’ error costing the bank $0.67m and ruining his cash position.
The response he from the trader was “sorry”, despite repetitive errors. Not getting a sympathetic response from them (“It’s part of the learning curve, Phil”), he wants to implement a solution that spots such mistakes the moment they happen.
Using EyesClear, Phil can put a few simple rules that would alert fat fingers immediately – alerting him and the Head of Investment Banking by email & text message. As a result, not only can the bank spot the mistake instantly, but it can also take the necessary action to correct the fault within a few minutes. As a result, Phil can be relaxed that the required precautions have been put in place.