The pandemic has seen companies race to raise money to stay afloat during the virus. Yet, the issuance process remains slow, costly and encumbered by legacy systems. Technology can help reform the process and give companies the funds they so badly need.
According to Bloomberg, global corporate bond issuance is on track to reach a historical high in 2020, as total capital raised neared $6.4 trillion (June)— already 71% of 2019’s total.
But the process of issuing bonds is unbelievably slow and largely manual. It takes an average of 30 stages with human intervention at each point, including physical paperwork and contact between multiple parties and intermediaries.
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