The Global Custody Forum takes place in London next week (5-6 December) with Digital Transformation featuring as one of the hot topics. Mike Hickey from Xceptor will be speaking about how institutions are adopting technology across their businesses at 2.30 on 5th December.
With this in mind I noticed a very interesting piece in Markets Media, written by Shanny Basar – “BNPP Securities Services Delivers Digital Transformation”.
According to the article, digital transformation at BNP Paribas covers a broad range of new technologies across its including data science, APIs, distributed ledger technologies, robotisation and artificial intelligence.
As an example, BNP Paribas estimates that up to 30% of the trades processed on behalf of asset managers currently fail the straight-through processing test due to counterparties holding mismatching data for the same transaction. They are launching a technology solution that uses predictive analysis to notify clients and their brokers to resolve these issues in real-time (with no manual intervention).
BNP Paribas Securities Services is also using artificial intelligence, machine learning and business process monitoring to improve compliance and monitor increasing amounts of data more effectively.
The compete article is worth reading and can be seen at http://marketsmedia.com/bnpp-securities-services-delivers-digital-transformation/