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Emerging Bank Technology & Trends
Carnegie Mellon University
Trading Summit: Session 3
CLEMENS WAN
APRIL 2015
Givens
○ Global Market | Global Team
○ Lucrative business | Regulations
○ Internal/External Branding | Culture
○ New Technology | Investing wisely
What to Expect
1. Core Focuses (MtB)
2. Innovation (CtB)
3. Infrastructure
Core Focuses
Keep the bank’s lights on
Risk and Security
○ Trading patterns and Positions
○ Monitored communications
○ Client confidentiality
○ Financial Regulations
○ Monitor inflight changes
Total Cost of Ownership
○ Architecture Simplification
○ Reducing complexity and Optimizing platforms
○ Reuse of SOA Layers
○ Horizontal components
Workforce
○ Hire globally
○ Centers of Excellence
○ Grow Your Own Talent
Business Continuity
○ 4000+ applications
○ Disaster Recovery
○ Plans/Processes for Failover tolerance
Innovation
Upcoming Technology Investments
○ Big Data
○ Mobile Revolution
○ Buy vs Build
○ Leveraging groups
○ New Technology
FinTech?
What is Big Data?
○ Volume | Velocity | Variety
○ Scalable | Real-time | Unstructured
○ Cloud-based | Fast | Flexible
○ Powerful | Low Latency | Analytical
Big Data Applications
○ Market Data sets for predictive models
○ Deeper Analysis in Risk management
○ Review trends to find optimization
○ Re-engineering traditional data warehouses
Mobile Development
○ HTML5
○ Swift Apps (iPhone and iPad focus)
○ BYOD
○ Flexible/Smart working
Mobile Development
○ HTML5
○ Swift Apps (iPhone and iPad focus)
○ BYOD
○ Flexible/Smart working
Buy
Pros:
○ Vendor hires expertise with focus only on application scope
○ Vendor releases new application features for all clients
Cons:
○ Hidden integration expenses
○ Risk of over-reliance on vendor applications
○ Maintenance costs and difficulty providing data feeds
Build
Pros:○ Much less expensive
○ Builds expertise within the firm
○ Better understanding of existing applications
Cons:
○ Head count spread thin
○ Difficult to stay ahead of the curve with features
○ Less integration with other banks
Cross Functionality
○ Combine Ideas across horizontals
○ Fewer Silos
○ New innovation teams
Infrastructure
Expanding the Tools for IT
Smart Working
○ 80% of seats used at one time
○ Flexible working arrangements
○ Openly bookable space for casual discussions
Open Source Tools
○ Not as frowned upon
○ Embraced by the developer community
○ Contributes much more for front end development than business logic
Real-Time Reporting
○ Give the power to the users
○ Interactive/Real-time dashboards
○ Consolidated reporting metrics
Empowering Internal Users
Companies with appealing products inspire and empower their users
Streamline Business Process
Savings from more efficient IT operations are reinvested in delivering projects that can improve experience
Obtaining Value from Data
As new tech allows more accessible and cost-effective data storage and process strategies, getting real business value is key.
Mobile Usage in Enterprise
Workers spending less time in their desk, but having greater needs of data
Conversational Data Visualization for Biz
Conversation with data have replaced static dashboards through new technologies of self-service analytics
Cloud
Private cloud solutions (internally/externally hosted) are being leveraged and enclose a huge potential for upcoming years.
User Experience
UX is a key component in internal facing systems even for non-business platforms
Innovation
Innovation is being embraced not only in IT, but every day more on the business side.
Summary
What Drives Our Design?
Search Enabled Security
Accessible from
Mobile Devices
Fault Tolerant
and Scalable
Modern UI & UX
Collab.Tools
Integrate with
Existing Systems
Fast and Reliable
DataFlexible
Incremental Adoption of New Tech
