A future financial ecosystem that will allow fintech innovation and competition to flourish can only grow through a new generation of infrastructure, with distributed ledger technology as a cornerstone.
For the past few years, financial companies, seeing the results of harnessing new technology elsewhere, have been picking up speed when it comes to high-tech innovation.
Their efforts have concentrated on client-facing solutions, although it is the backbone legacy systems they need to improve. However, change takes time in large companies that must maintain extremely reliable and solid architecture.
Step forward then fintech start-up, whose mission is to help the industry move to the future.
Some, with the support of a few critical incumbents, lead the creation of an entirely new interoperable ecosystem for financial services. At its heart are market infrastructure, hubs that allow all players to mutualise activities and fostering industry standards.
They are considering new-generation infrastructure that leverage the power of new technologies.
Head of Product Management and Marketing (Fundsquare)
Today, an order to buy passes through several different, separate ledgers of each actor in the fund supply chain.
Digital transformation needs new foundations
Both fintech and industry incumbents agree on this issue. To date, their efforts have focused on the user level because it is a good quick fix. However, they know it is the underlying plumbing of financial services that needs the hard work and clients are starting to demand services requiring a deeper change...
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Paperjam, July 2018