The web of investment bank technology, there are 20 or more core vendors on which systems run. Adding Blockchain to the mix merely adds a 21st system, which is by design incompatible with everything else. Thus enterprise chain projects have been focusing on integration and proofs of concepts, not re-engineering the core. But we know how this plays out -- as it has over and over again across Fintech. Digitizing "unimportant" channels and hoping for them to succeed simply doesn't work. See JP Morgan giving up on Finn, or Northern Trust capitulating its pioneering idea into Broadridge, or any other number of examples from Bloomberg to LPL Financial. Even the struggles of Digital Asset could be used as an example of the danger of working oneself into an existing web of solutions, and trying to preserve their dependencies.
JoinedMay. 30, 2017
Articles5,303
Comments63
This piece was created by one of our content team members. Reach us at [email protected]
BBVA has a staff of over 150 data scientists, engineering and department heads near their Madrid HQ specifically focused on...
The $200 million offering included post-graduate student loan asset-backed certificates; they were rated single-A by DBRS; this is the first...
10X Future Technologies was founded by former Barclays Chief Executive Antony Jenkins; now, JPMorgan is reportedly in talks to invest...
Chase recently made the news after shutting down Finn, their mobile banking brand; the bank has now shared with the...
Finastra partners with Xceptor to automate its securities market offering Desjardins Announces Security Breach in Episode with Echoes of Equifax...
Coindesk has dug into the Libra white paper which references how they might address digital identities: “An additional goal of...
TransferWise first launched borderless debit cards in the UK and Europe in April of last year; to date there have...
Trust of US banks has fallen according to recent research; 40 banks were evaluated as part of the 2019 American...
It has been three years since the UK voted to leave the European Union; there was a lot of uncertainty...