The flourishing data economy, the emergence of FinTech and BigTech firms in the traditional banking space and the growth of the crypto-assets market all promise a new era for the financial industry, bringing new competition, improved client service and innovative financial products. Regulations will play a key role in shaping the face of this newly emerging landscape, argues Deutsche Bank’s Polina Evstifeeva in an article for The International Banker.
The article can be read here
Faced with growing compliance pressures, banks are beginning to take serious note of the digital solutions becoming available to help navigate the heightened regulatory environment. In an article for Semana Economica, Mariel Garcia, Country Executive, Peru, LatAm Treasury Services, BNY Mellon, discusses how regtech has the potential to transform existing processes; the steps that the Latin American financial sector could take to best harness its capabilities; and how Peru can get involved.
To read the article – written in Spanish – please click here (please note, subscription to Semana Economica required)
RiskFirst and STOXX Ltd, the operator of Deutsche Börse Group’s index business and a global provider of innovative and tradable index concepts, have announced the launch of the new iSTOXX RiskFirst LDI index family. The innovation – released on 23rd April 2018 – provides independent benchmarks for liability-driven investments (LDI), providing a new solution to the governance and accuracy issues that have typically challenged the £1 trillion market.
Matthew Seymour, CEO of RiskFirst commented that RiskFirst’s flagship product, PFaroe, “is rapidly becoming an industry standard for the modelling of pension plans and therefore offers us unique insight into the behaviour of pension plan cash flow profiles at a very granular level. When combined with STOXX’s extensive experience in designing innovative and objective investment benchmarks, the result is a set of indices that deliver great value to UK pension plans.”
Moorgate disseminated the announcement, and news of the partnership and launch of the iSTOXX RiskFirst LDI index family was covered by the following specialist publications: Professional Pensions, Wealth Adviser, Institutional Asset Manager, International Finance, Financial IT, AlphaQ, etfexpress, ETF Strategy, Global Capital, Global Investor, Mondovisione, LeapRate, Digital Journal, Fintech Roundup and ITbriefing.net.
In its latest move, Crown Agents Bank has appointed David Bee in the newly created role as Head of Global Markets. David joins from Lloyds Banking Group, where he served as Head of Offshore Financial Markets & Institutional FX Sales. He has previously held senior positions at Citi, Deutsche Bank, and Standard Chartered.
“It’s exciting to be working for a bank with almost two centuries of history, with extensive access and a trust factor in markets that often have few, if any, international bank service providers. The bank is now growing very rapidly with enhanced infrastructure, expertise and relationships, and is continuing to upscale. Most of all, I look forward to working with the team and partnering with colleagues across the bank as we strive to reach our full potential”, said David.
News of the appointment has been covered by Profit & Loss, TXF, Global Banking & Finance Review, FTSE Global Markets and GTR.
Technology is creating a plethora of opportunities to enhance payments. And with client expectations for new capabilities growing – spurred by the abundance of high-tech gadgets in the wider market – banks must ensure they adapt and cater to expanding digital demands.
In a commentary article for EMEA Finance, Anthony Brady, Head of Global Product Management, Treasury Services, BNY Mellon, discusses some of the changes taking place, and how it is through industry collaboration that banks can truly leverage the benefits of technology, and deliver new, value-added capabilities to clients.
The full article can be read here (subscription is required).
As part of the Risk.net 2018 Market Technology Awards, RiskFirst’s Pfaroe has been awarded Asset and Liability Management Product of the Year – an award that recognises best practice in risk management and technology excellence.
Certainly, the award cements Pfaroe as the market’s most innovative risk management solution. Matthew Seymour, RiskFirst’s CEO, said: “We are delighted that PFaroe has been named the Asset and Liability Product of the Year. This award is testament to RiskFirst’s dedication to being at the forefront of innovation and delivering high-quality service. There are now over 1800 asset owners, accounting for approximately US$750bn in assets, benefiting from this leading technology.”
The full article can be read here.
Trade as we know it dates back centuries and has altered very little; remaining heavily paper based, labour intensive and dominated by manual processes. Certainly, if you were to name one sector that could benefit from fintech innovation, trade would be it. And despite challenges to the digitalisation of trade – such as reluctance to change by some parties within the supply chain, a limited awareness of new innovations, and technical issues – there are key initiatives underway.
In the FX-MM June/July issue, Mauro Bonacina, Head of Trade Business Development EMEA, Treasury Services, BNY Mellon, examines some of the initiatives that have the potential to change the face of trade. These include blockchain, application programming interfaces (APIs) and Optical Character Recognition (OCR). Bonacina concludes that, by working together to leverage these new technology capabilties to the full, we can all benefit from the new, digital era of trade.
To read the full article, please click here and scroll to page 42 (please note, free subscription to FX-MM required).
Distributed ledger technology and blockchain have dominated recent industry headlines, generating powerful discussion and fuelling innovation across the financial sector. BNY Mellon gathered together a group of experts in Manchester to discuss the practicalities of delivering distributed ledger solutions, the progress being made, and how the emergence of fintech start-ups has triggered not only unprecedented levels of bank innovation, but a collaborative approach that is helping to drive real transformation in payments and trade.
At the table were Chris Allchin, a partner at leading global management consulting firm Oliver Wyman, Brian Mc Nultiy, COO Europe for financial innovation company R3, and James Higgins, Global Product Manager for BNY Mellon in Manchester.
To read the full discussion write-up, which features in Financial IT, please click here.
Blockchain, the distributed ledger technology that underpins bitcoin, is leading the financial industry’s technology revolution and has huge transformative potential.
In FX-MM, Tanna examines the progress of distributed ledger technology – such as the growing involvement of regulators – and its potential with respect to smart contracts and risk mitigation. Furthermore, the article describes how blockchain has played a key role in igniting a whole new approach to innovation in the banking world, with collaboration becoming increasingly commonplace as it is realised that a “joined up” approach – working unitedly on a common problem to solve it from an industry perspective – is crucial to achieving change on a huge scale.
To read the full article, please click here.