The $5 trillion-a-day foreign exchange market is changing rapidly, as electronic execution platforms control the bulk of trading and bank dealers streamline operations in response to growing pressure from regulators to cut trading risks and boost capital.
Steady revenue streams make transaction banking attractive during times of volatility. But tech and upstart competitors are remaking the business.
David Newns, global head of State Street’s Currenex, says the diversity and liquidity provided by ECN (electronic communications networks) trading are keenly important to banks.
FinTech | Trends
The launch of the blockchain-enabled asset trading platform Nasdaq Linq, Goldman Sachs’ filing of a patent for a securities settlement system based on a new virtual currency called SETLcoin, and the continued rise of blockchain banking consortium R3 all point to a race by financial institutions to harness the power of the blockchain.
Tom Manning, affiliate partner at Waterstone Management, has been advising global companies on China, and vice-versa, for years. The onetime CEO of Ernst & Young Consulting Asia, Capgemini Asia, Cerberus Asia and Indachin, and former senior partner at Bain, sat down with Global Finance to discuss the nation’s quiet innovation revolution.
Q+A with Alex Chen, Executive Vice President of Ctbc Bank
Country Report | Israel
Chinese investors flock to the nation’s cutting-edge tech sector.
The World’s Best Digital Bank Awards was preceded this year by the inaugural Global Finance Digital Bank Conference, held in London. Three panels of digital banking experts shared their experiences of competing against nontraditional providers in the financial technology space.
Q+A with Juraj Bojkovský, Director Of Electronic Distribution Channels At Tatra banka
Q+A with Asit Oberoi, Senior President And Chief Operating Officer, YES Bank
Trends | Fintech
China’s Big Three Internet and e-commerce companies—Baidu, Alibaba and Tencent—are so big they are referred to collectively as BAT, and all three have received banking licenses and scaled up their e-commerce and finance platforms.
Capital Markets | Deal Matchmaking
In this age of social media, even business matchmaking, traditionally the domain of word of mouth and handshakes, could use a little tech facelift.
As digital banking transformation becomes a key competitive tool, Global Finance recognizes those banks making the most-effective and most-innovative changes.
Market Trends | FinTech
News that 13 additional banks have joined financial innovation firm R3’s distributed ledger initiative signifies the savings the banking sector believes blockchain technologies can deliver to the financial services sector.