IBS Journal October 2016
21
HSBC first onboard with SWIFT FX service
SWIFT’s new FX Business Insights information service. Frederic Boillereau, Head of Global Foreign Exchange & Commodities and Head of Global Markets Corporate Services at HSBC, says: “SWIFT has a unique data set and the aggregated data and insights they produce are valuable additional information for HSBC, and are helping us in our goal to constantly improve our client proposition.”
H
threat and the feeling is mutual. That’s according to Saket Sharma, BNY Mellon’s Chief Information Officer for Treasury Services, who took part in a SWIFT Lab discussion at Sibos 2016 during September to highlight how the FI has a great deal to offer when it comes to innovation and also demo its NEXEN digital ecosystem.
B
“When we think of FinTechs, we usually think startups,” said Sharma. “And that’s largely who BNY Mellon is actively cultivating working relationships with. But this opportunity gave us the chance to show that we also have lessons to share. We are one of the oldest and largest financial services institutions and you can’t remain an industry leader for as long as we have without innovation in your bones.”
“We talk a lot about the technology of NEXEN – the cloud- enablement, the APIs, the analytics platform, the intuitive Gateway portal – and all of that is very exciting,” he added. “But one of the most exciting parts of the story, for me, is the potential it has to build bridges across our industry and with FinTechs. Our six global innovation centres are also part of our NEXEN strategy. The people who work in those centres are actively involved in the tech and FinTech communities in their regions including Silicon Valley,
Keith Tippell, Managing Director, Head of Securities and FX SBC has become the first customer to use
Markets at SWIFT, comments: “While our FX confirmation messaging service continues to grow, with now more than 8,300 users, it’s important for SWIFT to innovate and to focus on value-added services such as this new information product. We are delighted that HSBC have adopted this offering and we look forward to engaging with a wide range of market participants regarding this and other information products.”
Scott Thompson FinTechs, we are your friends, BNYMellon NY Mellon do not view FinTechs as a
London, New York and Chennai. We want to share and we want to learn because it will ultimately make all of us more innovative and bring better solutions to our clients.”
The NEXEN demo focused on some of its core components, including the App Store where third parties can offer their services to BNY Mellon clients. “Disruption is a term that is thrown around a lot in recent years,” argued Sharma. “Incumbents and startups each have unique attributes. We have scale, an amazing client base, regulatory wisdom and capital. Startups have strong focus, top talent, and unprecedented agility in bringing minimally viable products to market to test and iterate. We have a lot to offer one another and we are excited about the collaboration opportunities that NEXEN is spawning.”
Scott Thompson
www.ibsintelligence.com
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52
