How is the securities services industry using a business mindset to harness the power of data and digitalisation while co-operating with industry partners to build platforms for the future? Janet Du Chenne reports from The Network Forum in Vienna
“With the evolving regulatory landscape, financial institutions don’t just need to think about 2020, but also 2025 and even 2040 – that’s when the data proposition becomes even more relevant.” During a panel discussion at The Network Forum, Fiona Gallagher, Global Head of Securities Services at Deutsche Bank, noted the potential of data insights that have come about from helping clients adapt to regulatory and market reform.
Those reforms have forced industry participants to co-operate on service components of the custody value chain that help them individually to address their unique challenges and through that partnership, become not only custodians of clients’ assets but also of their data. Gallagher asserted that as an industry, “we are becoming more comfortable around data culture and partnerships ethics.”
With those foundations in place, the consensus among Forum-goers is that now is the time to do more. Over two days, 450 securities services industry professionals gathered in Vienna to hear how a combination of data culture and business culture, and co-operation and partnerships are seen to be enhancing the client experience and the drivers for future value.
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