IBS Journal April 2016
Mizuho Bank and Fujitsu create hack-proof blockchain
Mizuho Bank has announced that block- chain makes it “impossible” for transactions to be tampered with following a successful test with Fujitsu Laboratories. The two firms conducted an operational trial using block- chain for cross-border securities transac- tions. As well as the use of blockchain
making it harder to tamper with the transaction’s history, the processing time was shortened from three days to same- day settlement. Using the blockchain Open Assets Protocol, the two companies built
In brief
a system in Fujitsu’s cloud environments, recording information in one linked block. Continually generated blocks, according to the firms, were chronologically linked together, creating information impossible to meddle with. Both parties will now consider how
best to use the technology going forward. Fujitsu and Mizuho have said that the goal is to create a convenient financial system that reduces the risk and speed of cross-border transactions. Mizuho Bank is one of the largest
In brief
Deutsche Bank and Bank of China have implemented an interbank host-to-host platform to provide cash management services to Bosch China. This makes Deutsche Bank the first foreign bank in China to establish host-to-host connectivity with Bank of China. Bosch, the first company to use the platform, will be able to execute domestic and cross-border payments in both RMB and foreign currencies, and make account balance and trans- action inquiries, whilst maintaining one internet banking platform. Carl Wegner, Managing Director, Head of Global Transaction Banking, Greater China at Deutsche Bank, says: “The successful launch of this host-to- host platform marks a new milestone in Bank of China and Deutsche Bank’s cooperation in cash management services. We are also proud to deepen our relationship with Bosch in China. This accomplishment further demon- strates our client-centric approach.” Scott Thompson
Polen Capital Management, a US- based equity management boutique, is live on the SaaS-based Charles River In- vestment Management Solution across its mutual funds, institutional accounts and retail separately managed accounts. The company also leverages Charles Riv- er’s data service for integrated real-time and daily reference data.
“With Charles River, we have elevated the technological infrastructure of our firm to best of breed across the board,” says Stan C. Moss, CEO, Polen Capital. “The advancement is in line with our strong philosophical belief in high qual- ity in each and everything we do. Struc- turally this investment has increased our productivity, streamlined our portfolio compliance and risk monitoring, and en- hanced our business continuity plan.”
Hedge fund Portfinance has gone live with MDX’s solution for real-time data collaboration. Marco Tartaglini, Direc- tor, Portfinance, says: “We were very impressed by the ease of implementa- tion and integration of the MDX solution within our trading environment. Also the rich features of the real-time subscrip- tion, publication and sharing functions of the Excel add-in were very important to us in selecting MDX to replace an in- cumbent third party technology. In the
end, stability and performance especial- ly during times of high market volatility were absolutely key.”
Hong Kong-based mobile banking start- up Neat has opened its waiting list to university students and young profes- sionals as it works towards a Q2 2016 beta launch. The venture, co-founded by David Rosa, formerly Head of Credit Trading, Asia Pacific at Citi, is targeting millennials with a smart budgeting and savings app and payment card, using fa- cial recognition technology to authenti- cate customers.
It fuses Rosa’s AI startup Variably and the technology behind payments venture TofuPay, which it bought. Neat will be compatible with Apple Pay and Android Pay. Liquidnet’s global buy-side com- munity of 800-plus asset managers can now trade Taiwan-listed securities direct- ly and anonymously with one another through its platform. This represents its 12th market in the Asia-Pacific region and 44th equity market worldwide.
For all the latest news on the global banking and financial services tech- nology industry, plus the IBS Journal blog, be sure to check out our website:
www.ibsintelligence.com
financial companies in Japan by assets, holding around $1.64 trillion. It’s labelled as one of the three Japanese ‘megabanks’ and caters to individuals, businesses, corporations and public sector entities. It has over 505 branches and is the only bank in the country to have a branch in every prefecture of Japan. It also recently signed on Hitachi to provide cloud storage, giving it a platform on which to implement its core banking systems.
Alex Hamilton
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© IBS Intelligence 2016
www.ibsintelligence.com
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