This forum, hosted at Sibos 2017, will explore the challenge of fintech in today’s rapidly evolving global business environment. During the pre-dinner discussion our specially selected experts will talk about the opportunities and challenges presented by the digital transformation of the financial world, and the audience will be asked to vote on some of the key issues. Our after-dinner speaker will then engage our audience with an inspiring talk and provide additional insights. As always at our dinner forums, there will be plenty of time for networking.
7th Annual FT-TCS BaNCS Financial Leaders Dinner Forum
The future of fintech – the promises and the risks
Author of New York Times bestseller "Uplifting Service" and 14 other books on service, business and inspiration.
JP Morgan Treasury Services
BNY Mellon Treasury Services
“With so much innovation and development in the sector, you need a place where ideas are shared and discussed.”
Alexander Filshie, CFO, World First
“A valuable invitation to attend a thought provoking forum of industry expertise around financial transaction management.”
Roger Harrold, Director, Alfasec Advisors
“Excellent thought provoking industry leading event.”
Financial technology is developing at near-breakneck speed. Digital innovation promises huge benefits for banks, securities firms, stock exchanges and other financial sector players, and for their clients too. Open banking APIs, distributed ledger technology like blockchain, cloud computing, artificial intelligence, high frequency trading, faster payments, the internet of things – all these and more are transforming the marketplace.
But along with these promises naturally come risks – both large and small. Untried and untested technology can suffer from operational failures, the cost of innovation can hit profitability, cyber attackers are becoming more sophisticated and dangerous, competition from fintech-enabled new entrants threatens traditional firms’ revenues, new business models based on digitization might not work… and if the fintech boom turns into bust the stability of the global financial system could be in trouble.
CEOS, CIOs, CROs and the rest of the senior management team must learn to deal with these uncertainties. They have to keep their enterprises nimble and competitive. Merely “adopting” new digital technologies is not enough. They need to truly “think” digital and transform their operations.
Ron Kaufman is the world’s leading educator and motivator for uplifting customer service and building service cultures. Rated one of the “Top 25 Who’s Hot” speakers by Speaker Magazine, Mr Kaufman presents powerful insights and global best practices from working with clients on every continent for more than 20 years. His energetic keynote speeches and workshops have inspired millions. He is the author of the New York Times and USA Today bestseller, Uplifting Service! The Proven Path to Delighting Your Customers, Colleagues and Everyone Else You Meet and 14 other books on service, business and inspiration. He is also the founder of UP! Your Service, a company that enables leaders and organizations to build Uplifting Service cultures for sustainable advantage. Mr Kaufman’s experience and passionate commitment to results have been distilled into proven methods to help clients upgrade service performance and build strong service cultures. His unique approaches to learning and leadership have been featured in the New York Times, the Wall Street Journal and USA Today. He was invited to Asia in 1990 by Singapore Airlines and the government of Singapore to create and launch a national service quality training organization. Mr Kaufman is a professional member of the Author’s Guild, Global Speakers Federation and International Association of Learning Providers. He lives in Singapore and travels widely to promote and realize a vision of “Our world where everyone is educated and inspired to excel in service". He is a graduate of Brown University, USA, and has studied in France, London and Berkeley, California.
As the Global Payments and Foreign Exchange Product Executive for JP Morgan’s Treasury Services business, Emma Loftus manages the strategy, development and positioning of these products. She is spearheading several transformational projects that will further differentiate JP Morgan’s services and maintain its leadership position in the payments industry. Specifically, she is exploring and implementing new technology in payments solutions that deliver increased connectivity, visibility, speed and insight to clients. Ms Loftus is a recognized payments expert with more than 25 years of cash management experience. During her career she has held senior product management and operations management positions at JP Morgan, Citibank and Deutsche Bank in the payables, receivables and foreign exchange businesses. She is also an active industry participant, currently representing JP Morgan on the Federal Reserve Payments Risk Committee and the Payco Board of The Clearing House. She is also a member of the Board of Directors of SWIFT. Ms Loftus holds a BA degree from Duke University and an MBA degree from the Stern School of Business at New York University.
Christopher Mager is Managing Director and Head of Global Innovation for BNY Mellon Treasury Services. He is responsible for research, evaluation, proofs of concept and thought leadership for emerging payment technology, including blockchain exploration and fintech engagement. He was a member of the Federal Reserve’s Faster Payments Task Force, and is a frequent speaker on payment modernization topics. Prior to his current role at BNY Mellon, he was the Head of Market Segments with responsibility for strategic development, industry expertise, new product development, sales and marketing strategy, and segment governance for Treasury Services’ target markets globally, including asset management, broker-dealers, insurance, healthcare, and new payments technology. Before this he held several other management roles in both sales and product management for Treasury Services. He is a graduate of BNY Mellon’s Leadership Development Program as well as the Harvard Business School High Potentials Leadership Program. He is a Certified Treasury Professional, has a master of business administration from the Katz Graduate School of Business at the University of Pittsburgh and a bachelor’s degree from the Dyson School of Management at Cornell University.
Soumen Roy is Tata Consultancy Services Country Head for Canada, responsible for all facets of the company’s business there. Prior to this current role he led the growth of TCS Japan. With 25-plus years’ experience, his accomplishments also span across Australia, USA and India. During his 19-year tenure with TCS, Mr Roy has led the development of significant new business, as well as managed many successful and lasting client relationships.
N. Ganapathy Subramaniam
N. Ganapathy Subramaniam (NGS) has been the Chief Operating Officer (COO) and Executive Director of Tata Consultancy Services (TCS) since February 2017. He has also been an Additional Director and Chairman of Tata Elxsi since November 2014. Prior to becoming COO he served as the Executive Vice President and Head of TCS Financial Solutions, a strategic business unit of TCS. In that role he steered the non-linear growth strategies, product and platform businesses of the company for over five years. He has held many key leadership positions in TCS in client delivery, business development, integration of businesses and product development. As head of the banking and financial services practice for TCS he was instrumental in consolidating TCS’s knowledge base, calibrating domain-centric offerings, creating opportunities and laying the foundation for its verticalization. As head of TCS Financial Solutions he was in charge of launching a suite of products for banking, capital markets and insurance – TCS BaNCS – many of which have become world class solutions used by major financial institutions globally.
NGS has been a part of TCS and the Indian IT Industry for 35 years. He has played a strategic role in several landmark projects that TCS undertook in many countries. He has in-depth knowledge on technology trends and systems policies of leading corporations. As a thought leader, he has spoken at global conferences and interacts and shapes opinion among industry analysts. NGS joined TCS in 1982 after completing his Masters in Mathematics from University of Madras and has had the benefit of attending various training programs including the Executive program for Growing Companies at Stanford University.
Ade McCormack is a futurist, digital strategist and author focused on helping both enterprises and individuals thrive in the digital age. He works with business and information leaders primarily in service-oriented organisations and has worked in almost 30 countries with the world largest brands. He is a former technologist and Financial Times opinion columnist, who has lectured at MIT Sloan School of Management on digital leadership. He continues to write for CIO magazine and is a judge on the CIO 100. He has written a number of books, including “Beyond Nine to Five – Your career guide for the digital age”.
Agenda - 18th Oct
6:00pmRegistration and cocktail reception
7:00pmChairman’s Opening Remarks
Ade McCormack, Futurist, Digital Strategist, Author; former Columnist, Financial Times
7:05pmWelcome and Address by Tata Consultancy Services
Soumen Roy, Country Head, Canada, TCS
N Ganapathy Subramaniam (NGS), Chief Operating Officer and Executive Director, TCS
7:35pmDiscussion: The future of fintech – the promises and the risks
Digital innovation promises big benefits for banks, securities firms, market infrastructure organisations and others in the financial sector. Open banking APIs, distributed ledger technology like blockchain, cloud computing, artificial intelligence, high frequency trading, faster payments, the internet of things – all these and more are transforming the marketplace. But there are also risks – the cost of innovation can damage profitability, cyber security is an increasing problem and traditional banks still heavily reliant on legacy systems are threatened by digitally shrewd challenger banks and non-bank payment service providers.
• What have been the most exciting developments in fintech in the past year or so?
• What will be the most important innovations in the next few years?
• How difficult is it to convert technical innovation into commercial reality? And how do you overcome those difficulties?
• What have governments and regulators been doing to encourage digital innovation in the financial sector? Could they do more?
Emma Loftus, Head of Global Payments and FX, JP Morgan Treasury Services
Christopher Mager, Managing Director and Head of Global Innovation, BNY Mellon Treasury Services
CHAIRED BY: Ade McCormack, Futurist, Digital Strategist, Author; former Columnist, Financial Times
9:00pmAfter-dinner speaker: Achieving service excellence with people and fintech working together
Ron Kaufman, Founder and Chairman of UP! Your Service; and author of New York Times bestseller Uplifting Service and 14 other books on service, business and inspiration
This executive dinner forum is for senior executives (MDs, CIOs, CTOs, Heads of LOBs) and other experts from the Financial Services industry.
Presented by (3)
The Financial Times is one of the world’s leading business news organisations, recognised internationally for its authority, integrity and accuracy. In 2016 the FT passed a significant milestone in its digital transformation as digital and services revenues overtook print revenues for the first time. The FT has a combined paid print and digital circulation of more than 910,000 and makes 60% of revenues from its journalism.
TCS BaNCS, from Tata Consultancy Services, is a globally acclaimed software brand that enables transformation in financial services through a superior and holistic suite of solutions for banks, capital market firms, insurance companies, and other diversified financial institutions. Each solution in the TCS BaNCS family has been designed to fully integrate with existing business models, enterprise infrastructures and technology architectures. Adopted as a platform of choice by financial institutions around the world of all sizes, TCS BaNCS addresses critical industry needs and enables business transformation by providing customers with scalable, customizable, market-ready solutions.
TCS BaNCS aspires to be better than established benchmarks. Therefore, we have embedded an Alpha (“α”) consciously and prominently within our brand, to remind ourselves of the superior returns that we strive to deliver to our customers.
TCS been recognized as the leading global financial technology provider in the 2015 IDC Financial Insights FinTech Rankings Top 100. TCS moved into the top position after being ranked second since 2012, and maintaining a top-ten ranking for the past eight years.
A part of the Tata group, India’s largest industrial conglomerate, TCS has over 353,000 of the world’s best trained consultants in 46 countries. The company generated consolidated revenues of US $16.5 billion for year ended March 31, 2016
The Quartz suite of blockchain solutions from TCS BaNCS --- targeted at helping commercial and private banks, market infrastructure institutions, custodians, wealth management firms, brokers, registrars and transfer agents, insurance companies and other institutions managing documentation -- can make your organization agile, significantly reduce transaction processing timelines, provide real-time updates to both upstream and downstream participants, and reduce costs related to data exchange. With data masking, privacy and anonymity, the premises on which the solution is designed, your organization can focus on enhancing its core competitive strengths in an environment of utmost security.
TCS BaNCS offers the following products as part of Quartz:
Quartz™: DLT-ready solutions and Smart Contracts
TCS BaNCS components come embedded with business (domain) aware ”Smart Contracts” that help drive processing on the distributed ledger.
The #DLGateway is a single, smart channel that can help integrate TCS BaNCS as well as third-party solutions with various distributed ledger platforms. Using the #DLGateway solution, organizations can connect to the DL, thereby eliminating the need for large scale and continuous changes to be made to these systems, and rapidly adapt to multiple technologies, platforms or ecosystems.
Quartz Development Framework
The Quartz Development framework is designed to help developers who are part of an IT team to introduce DLT into their business processes, and generate, compile, package, and deploy business code on the DL platform.