THE COMPANIES TO WATCH IN 2020 - The Financial Technologist ISSUE 1 .. 2020 - Abacus Group, LLC

The Financial
Technologist
 ISSUE 1 .. 2020

THE COMPANIES TO WATCH IN 2020

The Financial Technologist | Issue 1 | 2020

 Contents
04 Introduction by Toby Babb, 32 What lies ahead for Volopa 52 SME lending through cards 79 Sajindra Jayasena CTO, Amphora,
 CEO of The Harrington Starr Group Graham Smith, Managing Director, Volopa David Luck, CEO, Capital On Tap
 81 Stephen Barnett CEO at Util
06 THE MOST INFLUENCIAL 34 As 2020 kicks off, expect a focus on 54 Making standardised intercompany
 FINANCIAL TECHNOLOGY consolidation, cost and the cloud workflow the norm in financial operations 82 Arya Taware Founder & CEO, FutureBricks
 COMPANIES OF 2020 Michael Ourabah, Founder and CEO, BSO Sophie Mason, General Counsel, Taskize
 Hear from the list! 84 Seema Johnson Co-founder and COO,
 36 Bofin: Banking for the 21st century 56 Why are women underrepresented Nuggets
16 Fnality explain how they are true Mr. Mohamed Dafea, CEO, Bofin Tech in finance?
 peer to peer catalyst Benedetta Arese Lucini, 85 Ammar Akhtar Yobota’s Co-Founder &
 Olaf Ransome, CCO, Fnality International 38 2020 outlook – time for real post trade Co-Founder & CEO, Oval Money CEO in conversation with Elizabeth Lumley,
 transformation within capital markets Director, VC Innovations
18 Oaknorth redefine lending James Maxfield, Managing Director,
 Sean Hunter, CIO, Oaknorth and Alastair Rutherford, Managing Director, FINTECH FOCUS 87 Stephane Tyc Co-founder, Quincy Data
 Ascendant Strategy
20 Five market predictions from GMEX 58 Raj Sitlani Co-Founder and Managing 88 Clive Posselt Commercial Director,
 Hirander Misra, Chairman & CEO, GMEX 40 An insight into Feedstock Partner, IS Prime Instrumentix
 Lucas Wurfbain and Charlie Henderson,
21 RegTech Overview 2020 co-founders, Feedstock 60 Anand Sambasivan CEO, PrimaryBid 90 Stephen Openshaw CEO, Eiger Trading
 Matt Smith, CEO, Steel Eye Advisors Ltd
 41 The market according to Qadre 62 Sylvia Carrasco Founder & CEO, Goldex
23 The year ahead according to eXate Anna Flach, Head of Marketing & 92 Roman Kopytko Associate Vice President,
 Sonal Rattan, Co-founder and CTO, and Peter Communications, Qadre 63 Lucy Heavens Head of Marketing, Wealth Demand Generation, Enfusion
 Lancos, Co-founder and CEO, eXate Dynamix
 44 Finally Time for an Operating System 94 Leigh Walters Chief Commercial Officer,
24 Regulatory Compliance Trends in Alice Leguay, Head of Partnerships, hubx 65 Peter Fredriksson Chairman of the Board, TRG Screen
 2020 and Beyond Capital and Tore Klevenberg CEO & Partner,
 Shiran Weitzman, CEO and Baymarkets 96 Market Commentary
 Co-Founder, Shield 45 Fintech trends for 2020: Standing out from
 the crowd 67 Sonya Barlow Founder & CEO, 102 Salary Survey UK
26 Owlin equips Risk executives in Big Roisin Levine, Head of Banks, Flux Like Minded Females
 Finance with the right tools 109 Salary Survey US
 Sjoerd Leemhuis, CEO & Co-Founder, Owlin 47 Unleashing Payments for Banks, Fintechs 69 Rey Acosta CEO, Allvue Systems
 and Insurers 111 About Harrington Starr
28 A market update from Koine Andy Patton, Chief Commercial Officer, 71 Celine Crawford CCO, Smarkets
 Serafino Manca, Head of Marketing, Koine Contis 113 Meet the team
 73 Steve Toland Founder, TransFICC
30 Three questions for you to consider 48 Where next for Abacus Group? 115 Contact
 Abbas Khan, Project Manager, eBrevia Chris Grandi, CEO, Abacus Group 74 Ian Howard Director, Neotas

31 Why Payments-as-a-Service is 50 ‘Super Processor’ Insights for 76 Robin Mess Co-founder, big xyt
 first choice for Financial Institutions Tomorrow’s Challengers
 Julian Colls, Head of UK Enterprise, Joanne Dewar, CEO, Global Processing 77 Liam Huxley CEO and Founder,
 Form3 Services (GPS) Cassini Systems

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and change that the sector is bringing. There have investment. Very clearly today, if there is no outline for
 been two decades of quite extraordinary change and clear, reliable returns there will be no deal. This raising
 my belief is that this year, we will see a continuation of the bar has long been needed and a welcome
 TOBY BABB, CEO, of that theme. The enormous quality and diversity trend in my opinion, the caveat being that the right
 T H E H A R R I N GT O N STA R R G R O U P that this listing boasts just confirms the scale of companies MUST still be invested in. The plan simply
 opportunity that exists for those who dare to dream, needs to be crystal clear.

FinTech 2020:
 change and challenge the norm. That to me seems
 the key to success in the space. With the wave of successful UK startups now starting
 to scale, there lies ahead a very interesting period
 So, what do I make of the market in 2020? for those interested in the sector. We have already

The Next Generation Economically, socially and politically, we continue
 to exist in a time of hyper-volatility. At the time of
 writing Britain has just officially exited the EU, China
 is facing the seemingly uncontrollable spread of the
 seen the starting points but 2020 will be telling as
 we see the globalisation of the Unicorn UK Fintechs
 on the World stage. The scale and opportunity for
 those businesses make it an extremely attractive
 Corona virus, the US continues to be torn by political proposition and it will be fascinating to see which
 turmoil and economists are painting wildly differing companies truly seize the opportunity to shine.
Harrington Starr’s financial technology

W
 forecasts of what lies ahead. With such volatility On the employment front, we also see an interesting
 comes opportunity, however, and my view is the time ahead. With the proposed changes to IR35
news, commentary, insight and features. firms that will dominate 2020 will share core themes.
 Globalisation will be at the forefront of that with cost
 regulations coming into the private sector in April,
 a paralysis and uncertainty exists around flexible
 reduction, digital innovation and responsibility being and contract work, particularly in larger contract
 from startups to scaleups to enterprise players in the recurring features. employers. Alongside post Brexit pressure there
 Financial Technology. They share a common thread will be an interesting period for both permanent and
 of innovation, strong leadership, outstanding teams, With the regulatory and compliance hiring tsunami contract hiring both of which point to continued skills
 entrepreneurialism and solving real industry problems beginning to slow after the explosion of the last shortages as the sector continues to demand more
 with new and exciting technology. These companies decade, companies who can ease headcount in and more talent. The Government’s reaction to this
 are unified by their ability to communicate a clear those areas with stand out technology solutions and how employers work with the changes through
 message and add true value to the industry. will continue to thrive. Financial infrastructures will statement of work options or swallowing increased
 continue their habit of being tech-led and tech-first contractor costs will prove interesting.
 Fintech is a far-reaching badge meaning many things with an ever-increasing significance of the CTO in FS.
 to many different people. Is it payments? Is it digital My top ten trends of what we can expect to see a real From a skills perspective, Harrington Starr continues
 banking? Is it Capital Markets? Is it Regulatory? In my hype around in 2020 are: to see huge demand for talent across all key verticals.
 mind, Financial Technology covers all of the above Our development teams are seeing enormous
 and many more. I am delighted to see such diverse • Digital-only banking levels of requirements which is echoed in DevOps,
 backgrounds and companies on display covering • Blockchain and a change in how it is used Infrastructure, Data, Security, Testing and Application
 such a wide array of tech and segmented areas of • Hyper personalisation through Big Data and AI Support. As is perhaps unsurprising with the story
 the space. • Chatbots and conversational interfaces above, Change and Transformation requirements are
Welcome to our biggest ever issue of the Financial • Continued mobile payment innovation up over 40% year on year with sales echoing a similar
Technologist and, for the third year running, we have We see themes of Data, AI, Blockchain, Mobile • More collaboration in FS surge. The market is busy and the search for the right
worked with a superb panel of experts to pull together Payments, Digital Banking, Regulation, Financial • Financial inclusion people for the right jobs continues. We’d love to help!
a listing of the Most Influential Financial Technology Inclusion, Wellbeing, Cloud, Consolidation, Chatbots, • Robotic process automation
Companies of 2020. Crypto, Surveillance and Hyper Personalisation • Intensified Cyber Security focus I will finish by once again offering my warmest
 amongst other areas. You will read opinions ranging • RegTech continuing to grow congratulations to all those listed this year. There are
We are grateful to EY, Baringa, Coremont, Lloyds from imminent economic downturn to trading being some truly spectacular examples of what “great”
Banking Group, Alpha FMC, CRUXY & Company and boosted in the second half of the year. You will see There was an interesting trend in 2019 around looks like and I look forward to interviewing many of
The Realization Group who helped us analyse the companies who are re-defining markets, companies investment in Fintech. Whilst we saw record levels them in our FinTech Focus TV YouTube and Podcast
finest Financial technology companies in the world to embracing new and dynamic technology, companies of funding to Global, Venture backed Fintechs there series. Please subscribe and stay tuned! Many thanks
shortlist those that look set to have a major impact on re-defining regulations with tech and data, companies was a noticeable pull back in early stage investing. to our judges once again and to all who contributed
the year ahead. We are excited to share the list with who save time, save the planet, provide economic VCs are keen to see that the fundamentals are right their thoughts in the magazine. Good luck for the year
you alongside insight and analysis from many of those well-being and companies demanding improved first time with latter stage investment sharply on ahead and have a great 2020!
listed, who look at what makes them tick and what lies service and changes to the industry. the increase. I have, in these pages, been pushing

 Toby
ahead throughout 2020. for caution in early stage fintech investment for
 As of January 2020, I have officially been working in some time. The lack of commerciality in startups in
These companies have shone out from a highly the Financial Technology space for 20 years. Never the space has often been staggering so I welcome
competitive field and the listing includes everyone have I been more excited by the value, innovation scrutiny in the space following years of reckless

 GLOBAL LEADERS IN FINANCIAL SERVICES AND COMMODITIES TECHNOLOGY RECRUITMENT

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THE MOST INFLUENTIAL
FINANCIAL TECHNOLOGY
 COMPANIES OF 2020

THE BEACON BMLL

 THE
 TOP BOFIN DAIWA
 FULL
 TABLE DUCO FINBOURNE LISTING
 FORM3 IG

 KOINE MAMBU 10X 11:FS 9TH GEAR ABACUS GROUP

OAKNORTH PAYSAFE PRIMARY BID RAINBIRD ACCESS FINTECH ADAPTIVE FINANCIAL ADYEN ALFA
 CONSULTING

STEELEYE TRAYPORT VORTEXA YAPILY ALLIANZ GI ALLVUE SYSTEMS ALPIMA ALTANA WEALTH

 GLOBAL LEADERS IN FINANCIAL SERVICES AND COMMODITIES TECHNOLOGY RECRUITMENT

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AMAZON WEB AMPHORA APPIAN ARKK SOLUTIONS CMC MARKETS CODAT COLLIER CAPITAL COMMCISE
 SERVICES

ASCENDANT STRATEGY ASCENT TECHNOLOGY AUTH0 AUTOMATION CONTIS COR FINANCIAL COREMONT CREDITENABLE
 ANYWHERE

 AVORA BANKIFI BANKABLE BAYMARKETS CURRENCYCLOUD CURRENSEA CUVVA DATASINE

 BERENBERG BANK BGC PARTNERS BIG XYT BLUEPRISM DIGITAL VEGA DROIT EBREVIA EIGERTRADING

 BSO NETWORKS CALASTONE CAPCO CAPITAL ON TAP ELLIPTIC ENFUSION ESSENTIA ANALYTICS EXATE

 CAPLIN CASHPLUS CASSINI SYSTEMS CHART IQ EXONAR FACTSET FAETHM FEEDSTOCK

 CHECKOUT.COM CIRDAN CAPITAL CLEO AI CLOVER DX FLEXEARN FLUX FNALTY FREGNAN
 MARKETS

 GLOBAL LEADERS IN FINANCIAL SERVICES AND COMMODITIES TECHNOLOGY RECRUITMENT

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FUTUREBRICKS GLOBAL PROCESSING GLUE42 GMEX GROUP LONDON STOCK MAN GROUP MCKAY BROTHERS / MENIGA
 SERVICES EXCHANGE GROUP QUINCY DATA

GOLDENSOURCE GOLDEX GREEN KEY GUARDTIME MICROSOFT MILESTONE GROUP MONZO MOSAIC SMART DATA
 TECHNOLOGY

 HUB 85 HUBX IDEAL PREDICTION IDEALING N26 NATIXIS NATWEST MARKETS NCINO

 IHS MARKIT INCENICO E PAYMENTS ING INSTINET NEOTAS NOMURA NUGGETS NUMERIX

INSTRUMENTIX INVISAGE IPC ISPRIME OPENFIN OPENPAYD OPENWRKS OVAL MONEY

 KAIZEN KOFAX KOMGO LEND INVEST OWLIN PEEL HUNT PENFOLD PICO

 LIFETISE LIKE MINDED LMAX LME PICTET PLANIXS PRECISION QADRE
 FEMALES LENDER

 GLOBAL LEADERS IN FINANCIAL SERVICES AND COMMODITIES TECHNOLOGY RECRUITMENT

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QUANTILE RBS REFINITIV REVOLUT TRG SCREEN TTP LABTEC UIPATH UNITED

 SCOTT LOGIC SEAL SERNOVA SHIELD FC UTIL VAKT VELA VOLOPA

 SIGNAL AL SIGNAL FX SIMUDYNE SMARKETS VOXSMART WEALTH DYNAMIX WELLINGTON WORLDREMIT

STARLING BANK STATE STREET STIFEL STRIPE WORLDPAY XCEPTOR XELIX YOBOTA

SYMBIOTICA AI SYNSWAP TAMR TANDEM BANK ZOPA

 TASKIZE TELSTRA TICKR TOURMALINE
 NOW TO HEAR FROM
 TRADEWEB TRADINGSCREEN TRANSFERGO TRANSFICC
 SOME OF THEM..
 GLOBAL LEADERS IN FINANCIAL SERVICES AND COMMODITIES TECHNOLOGY RECRUITMENT

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FNALITY INTERNATIONAL:
 1. Fnality Global Payments

 SECURITIES SETTLEMENT EXCHANGE/CLEARING TRADE FINANCE ISSUANCE COLLATERAL MANAGEMENT X-BORDER PAYMENTS
 Platforms and
 business applications

THE CATALYST FOR TRUE ‘PEER-TO-
 DvP DvP P DvP DvP P/PvP

 Interoperability
 Connection to any

 Built by FNALITY
 blockchain (HyperLedger,
 Corda, etc) or legacy platform

 Foundations
 Currencies in which
 USC is available $ £ € C$ ¥

PEER' FINANCIAL MARKETS
 P1 P2 P1 P2 P1 P2 P1 P2 P1 P2

 PARTICIPANTS
 Owned by
 P3 P4 P5 P3 P4 P5 P3 P4 P5 P3 P4 P5 P3 P4 P5

 P6 Pn P6 Pn P6 Pn P6 Pn P6 Pn

 CORE
 VALIDATOR NETWORK

 UNIQUE STRENGTHS OF THE FNALITY SYSTEM
 P1 P2 1. Each participant has direct access and can hold USC in each currency
 2. Each participant has a single pool of liquidity in each currency which inter-
 interoperability. operates to many Platforms and Business Applications; a global collateral pool
 P3 P4 P5 3. The distributed nature of the validator network is highly resilient reducing
 Operational Risk. There is no one central server: any one participant cannot
 We are focused on enabling the impact the overall system
 on-chain means of payment. P6 Pn
 In each currency we will have
 Olaf Ransome a Fnality Local which will run

 A
 CCO, Fnality a payment system, the Fnality
 Payment System. USC is the Managing Payment Liquidity in it,” said Otto von Bismarck. Sitting Football Club, put it: "We must
 payment instrument. The Global Markets: Risk Issues and undecided on the sidelines turn from doubters to believers".
 core function of financial combination of all the Fnality Solutions Report by the Cross- is a bad option and what the
 services is to efficiently Payment Systems will be called border Collateral Pool Task Force. ingredients for success look like. Believers in the sense that there
 move and allocate Fnality Global Payments. It will is so much potential to unlock.
 money and risk within an enable peer-to-peer markets Peer through the hype to the hope Or, more recently, as another Blockchain has made us examine
 economy. There is huge by inter-operating with many “If revolution there is to be, let us German, Juergen Klopp, the ever- and understand that potential;
 potential to be better, platforms and business rather undertake it than undergo smiling manager of Liverpool it will be a very good solution for
 faster & cheaper. applications. Figure 1 illustrates many of our challenges, though
 how the components fit together. not all of them. We need to focus
Blockchain: Hype or
Hope? Even without
 To do that we need
 to disrupt the current
 processes. DLT is one way
 One single pool of liquidity that
 can serve the settlement needs
 “The combination of all the Fnality Payment Systems will on the hope, understanding that
 there will be some hype and that
 we should not let that distract us
projects and process
change actually being
 to unlock the potential
 with new infrastructure based
 on tokenisation. Fnality and
 of many business platforms.
 Together with the work to tokenise
 collateral being led by HQLAx be called Fnality Global Payments. It will enable peer-to- from trying to build the financial
 market infrastructure for the
 next 50 years. If that has some

 peer markets by inter-operating with many platforms and
realised, Blockchain or its shareholders understand and Deutsche Boerse, this will “Blockchain inside”, that may well
rather DLT had made well the three building blocks allow us to realise something be no bad thing.
the financial services of tokenised markets, what we that has been the Holy Grail

 business applications."
 call the holy trinity: tokenised of our industry for many years; To find out more about what we
industry look hard at assets, new exchanges or price a single global collateral pool. are up to, see www.fnality.org or
what might be. discovery venues and payment This is worth understanding: contact olaf.ransome@fnality.org.

 GLOBAL LEADERS IN FINANCIAL SERVICES AND COMMODITIES TECHNOLOGY RECRUITMENT

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“While our platform may never achieve 100 percent automation
 of complex credit analysis through the use of big data and
 commercially viable, lending is
 typically based on automated
 credit models which allow lenders
 potential returns don’t justify
 the complexity of underwriting
 needed.
 machine learning, doing so may not be a worthy goal."
 to process loans quickly and of trying to obtain a loan from a They should therefore be able to
 efficiently. Loans that fall outside these bank stuck with them which is gain market share by having a
 Sean Hunter parameters (i.e. those between why they set out to address this differentiated product offering.

 I
 At the larger end of the market $1m and $25m), are either problem with OakNorth. Secondly, enhanced analysis
 CIO, OakNorth (loans of $25m+), large banks too large to be subject to the and better use of external data
 can justify allocating significant automated credit process that OakNorth is the next-generation should lead to better credit
 f you look at the global amounts of time and resources to can be undertaken with smaller credit platform that is redefining outcomes from a more objective,
 lower mid-market business underwriting the loan because the loans (as it is difficult from a risk lending to lower mid-market data-driven credit assessment
 lending sector (loan sizes of potential returns are substantial. perspective to justify automating businesses globally. The platform process. Thirdly, they should
 $1m-£25m) today, a similar However, borrowers are typically this size of loan); or too small to be is deployed seamlessly alongside see greater efficiency from a
 pattern emerges: when it required to offer property as underwritten in the way that big its bank and lending partners’ streamlined, automated process
 comes to loans of $1m or less, collateral – an approach that banks do with large loans because existing credit processes, where computers do what they
 big banks and platforms such simply isn’t fit for purpose in this the potential returns don’t make enabling them to more holistically do well (process large amounts of
 as Funding Circle, Kabbage, age of falling homeownership and it commercially viable. As a result, and profitably cater to this market data) and humans do what they
 Ant Financial, Lending Club, new industries such as tech where lower mid-market businesses segment. It supplements the do well (provide judgement and
 Iwoca, etc. offer several property assets aren’t required. have been overlooked and traditional method of relying expertise). Used wisely, these
 debt options including small Banks tend to be unwilling to underserved for decades. on backward-looking historical technologies can help remove
 general-purpose business accept other assets (IP, stock, data sourced from the borrower, the friction that has prevented
 loans, asset finance, and debtors, plant and machinery, This is a challenge our founders, and scenario analysis based on this from happening in the past.
 invoice finance. To make this etc.) for loans of this size, as the Rishi Khosla and Joel Perlman, standard haircuts that are not Finally, since they are no longer
 personally experienced when necessarily linked to industry reacting to the market and fighting

HOW WE’RE USING BIG DATA AND
 trying to secure debt finance for drivers (Level 1 and 2 analysis), to establish a niche in a very
 their previous business, Copal with technology and massive data competitive space, and are able
 Amba. They started the business sets, to model a forward-looking to act at speed, they should see
 in 2002 and by 2006 were view that’s informed by industry margins improve.
 profitable, had a great client list benchmarks, macroeconomic
 and strong cash flow, so were drivers, and scenario analysis The above was proven via
 looking for a loan to scale their specific to each business (Level 3 OakNorth Bank, a UK bank set up

MACHINE LEARNING TO REDEFINE
 business. This was pre-crisis so and 4 analysis). by Rishi and Joel in 2015, providing
 there were no alternative lending, loans of £0.5m-£50m to lower
 neo-bank or fintech options While our platform may never mid-market businesses and
 available – their only choice achieve 100 percent automation established property developers.
 was to try and get a loan from of complex credit analysis through Since its launch four years ago,
 a traditional high-street banks. the use of big data and machine the bank has lent several billion
 However, none of them were learning, doing so may not be pounds to businesses across the
 willing to lend to them as they a worthy goal. Rather, there are UK, whilst maintaining no credit

LENDING TO LOWER MID-MARKET
 didn’t have property to provide numerous advantages to be losses, an ROE of 22%, a cost/
 as collateral. Fortunately, over gained from the added insight and income ratio of 30% and profits
 the next 12 months, they had efficiency that these techniques that increased 220% to £33.9m
 several conversations with the can bring to the lender and the in 2018.
 special situations desk at Citi borrower in the process.
 who were able to provide them Going forward, Rishi and Joel
 with a dividend recap – this gave The benefits to our partners – hope to continue leveraging

BUSINESSES GLOBALLY
 them the capacity to continue the banks around the world who the OakNorth platform to build
 growing without diluting. Over the license the platform - of using it on OakNorth Bank’s existing
 next eight years, they scaled the primarily stem from what it allows loan book in the UK, whilst also
 business to 3,000 people across them to do as a lender. Firstly, licensing the platform to other
 11 markets, eventually selling it to because they can analyse more banks and lending institutions
 Moody’s Corporation in 2014. complex credit situations, they around the world, so that the gap
 are set free from the shackles of in lower mid-market business
 However, the negative experience their rigid credit product suite. lending can finally be closed.

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FIVE DIGITAL/CRYPTO/ 2020 REGTECH
 public as has the likes of Arabian abstracted from single blockchain
 Bourse in the UAE, both with post dependency so that they can
 trade digital custody offerings. run on multiple blockchains.
 This year such digital market This will also be enabled by
 infrastructure will go live and increased collaboration between
 other under the radar infinitives, key blockchain providers, which

BLOCKCHAIN MARKET OUTLOOK
 which are well advanced, will also extends across verticals and
 go public across the globe. horizontally creating a proper
 network effect rather than vertical
 2. More assets tokenised silos. This will facilitate easier
 and increased institutional trading, clearing and settlement
 involvement of digital assets with additional
 There has been lots of talk of integration into the traditional side

PREDICTIONS FOR 2020
 assets being tokenised albeit to create a hybrid construct.
 currently the market is still
 nascent. We will see well run 5. Convergence of AI and
 tokenisation initiatives go live Blockchain
 spanning securities, real estate, There will be greater application
 gold and other assets with of AI in mainstream capital
 integration into regulated and markets underpinned by
 secure digital custody with ease blockchain immutability this
 of access to trade on regulated
 digital exchanges. There will be
 year whether it is in investment
 management for Robo-Advisory,
 Matt Smith
 more digital funds set up that market surveillance or to drive CEO, SteelEye
 tokenize assets in a way that smart contracts underpinned by
 traditional professional investors the right data and analytics with
 can invest. self-learning feedback loops. for RegTech and compliance in
 2020 – highlighting the trends,
 Hirander Misra 3. Demand for digital capital
 markets solutions increases
 opportunities and challenges we
 expect to see as the year unfolds.
 Chairman & CEO, GMEX Mainstream exchanges, CSDs Compliance Oversight, Data
 and custodians seriously start Management and Innovation SM&CR, montoring and

 “We wil see well run tokenisation
 looking at digital projects. This will The regulatory landscape in the oversight
 be based on them being savvier in UK, Europe and the rest of the Following the introduction of the

A
 terms of what they actually need world has changed dramatically Senior Managers and Certification

 initiatives go live spanning
 and what is suitable as opposed over the past decade. Following Regime (SMCR or SM&CR) for all
 to succumbing to the hype. The the financial crash of 2008, Financial Services and Markets
 t the start of January 2019 convergence with AI. need will be for technology and there has been an influx of Act (FSMA) authorised firms in
 GMEX Group made its top In summary the key trend will be services that cover the whole new legislations and regulatory December 2019, we will likely see
 5 predictions for the year
 in the blockchain space
 and evaluated how these
 continued development in the
 digital capital markets space
 across a range of sectors.
 value chain to ensure effective
 digital transformation. This
 will also increase demand for
 securities, real estate, gold and frameworks aimed at improving
 the stability of and trust in
 financial markets. As a result,
 a shift in firms’ priorities as we
 move through 2020 – away from
 process and towards monitoring
 had played out in June
 2019 at the half year mark
 and early January 2020 for
 1. Properly regulated digital
 exchanges and custodians go
 specialist legal, finance and
 corporate services to drive such a
 digital strategy. other assets with integration into market players have had to
 significantly change how they
 operate, and we have seen the
 and oversight.

 Considering the fundamental
 the full year. The results
 were very accurate.
 live
 There have been various
 announcements during 2019
 4. Advancements in blockchain
 interoperability regulated and secure digital custody rise of a new FinTech category,
 RegTech, delivering solutions to
 help firms solve their compliance
 change in the accountability of
 senior managers under the new
 regime, firms are going to want

 with ease of access to trade on
 We try to repeat that feat about the launch of properly Multiple nodes spanning challenges. increasingly better oversight of
with our key predictions for 2020 regulated digital exchanges and wealth management, banking, their operations to ensure their
as we look at the year ahead custody offerings beyond those payments, exchanges and post As we turn the page on a decade systems are working properly

 regulated digital exchanges."
in terms of what it could mean such as CFTC regulated SEED trade interconnect resulting of considerable regulatory and and that everyone is adhering to
for Fintech enabled blockchain CX, which already exist. Swiss in fewer intermediaries, with market change, Matt Smith, CEO the conduct rules. It is also likely
developments and potential Digital Exchange has been very applications increasingly of SteelEye, outlines his outlook that the regulator will put higher >

 GLOBAL LEADERS IN FINANCIAL SERVICES AND COMMODITIES TECHNOLOGY RECRUITMENT

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WHAT’S IN STORE FOR EXATE
demands on firms to demonstrate regulators to be somewhat changing role of compliance. Due
oversight in 2020, and this forgiving as long as firms can to the increasing reputational,
doesn’t just apply to SM&CR but demonstrate that efforts have operational and financial risks
across the board - with continued been made towards SFTR involved, compliance has moved
regulatory scrutiny on market compliance. away from being a box-ticking
abuse surveillance under MAR exercise and turned into a top

 IN THE YEAR AHEAD?
(Market Abuse Regulation) and Data accuracy in focus priority and c-level decision. This
MiFID II. In the year following the MiFID has prompted a shift in firms’
 II implementation many firms attitudes towards compliance
A key priority for all firms in were faced with a wealth of data spend, where more and more
2020 is therefore to tighten up challenges. As a result, we saw firms are recognising that they
their oversight capabilities and the regulator being fairly lenient need to increase short-term
implement systems that can on reporting quality. investment to achieve efficiencies
effectively monitor interactions and synergies in the long-term.
and transactions. In 2019 this changed, and the
 regulator started increasing In 2020, we will therefore
New reporting requirements its scrutiny on data quality - see more firms investing in 2020. Though we have what is
under SFTR handing out several hefty fines to technologies that allow them to Sonal Rattan, already a fully functioning data
In April 2020, we will see the first
phase of the Securities Financing
 compliance offenders. In 2020,
 we do not foresee this regulatory
 improve data quality, consolidate
 systems and platforms, optimise
 Co-founder and CTO, privacy platform that protects
 production data, we have an
Transactions Regulation (SFTR) crackdown slowing down. On the their operations and ultimately and Peter Lancos, exciting product roadmap to
come into force for credit
institutions, investment firms
 contrary, we expect the FCA and
 other regulators to intensify their
 reduce costs.
 Co-founder and CEO, offer even more to our existing
 customer base and future
and relevant third country firms focus on accurate reporting. A bright future for those who Exate customer base. eXate will be

 W
- introducing new reporting embrace change hiring aggressively in our tech
requirements on companies It is therefore no longer an option As we move through 2020 one team and in sales to boost the
operating in the shadow banking for firms not to prioritise their data thing will become clear: the firms product and its reach, all the
sector. quality. Poor data management that continue to underplay their e at eXate are data with peace of mind that while creating and maintaining a
 practices also mean that obligations will start to see the humbled and they are satisfying regulatory best-in-class company culture.
A big challenge firms will face in compliance becomes more regulator becoming unforgiving honoured to be requirements and don’t have The financial services industry
their preparations for SFTR will time consuming and costly than on data accuracy, oversight and selected in this year’s a tangible “insurance policy” was our natural starting point
be around data management. To necessary. As firms recognise compliance. However, if efforts list by the judges. For per se on the data to destroy it as a company given the in-
successfully meet their reporting this, we will see more focus on have been made and can be us, it is a testament if something were to go awry, house expertise of our founders
obligations, firms need to be data management. demonstrated, the regulator will to how important data then AI and blockchain remain and management team, but
able to bring together a range of remain somewhat lenient and privacy is becoming unactionable buzzwords. we believe we can serve
data from a range of sources in A year for optimisation open to collaboration. over time. We are the more industry verticals and
an efficient and timely manner. As firms prepared for MiFID II, ink bomb for data. 2019 proved to us and our regulated industries that want
Thereafter, they need to be able many scrambled to find solutions, Firms need to come to terms with We live and breathe clients that the eXate offering to be data driven.
to build and validate their SFTR doing what they needed to this new regulatory landscape data privacy and and proposition has value
reports and send the reports to an comply. Now that more firms - embracing the opportunities critically want to stop privacy from for the banking and financial We are biased, but as the
approved trade repository within have a better understanding of it can present. With SM&CR being a “lockdown” and continue services sector. We took part companies look to utilise AI
the required timeframe. the regulation, they can make bedding in and SFTR coming to enable responsible data in programmes such as ING and other propositions in a bid
 better decisions. Add to that the into force, a key focus for firms protection, data sharing with the FinTech Village, Accenture to become more data-driven
If firms are not able to effectively continued pressure on margins will be to review and optimise appropriate parties (internal to an Financial Innovation Labs and organisations, they will realise
consolidate their data, meeting and firms are increasingly their compliance procedures and organisation as well as external) CyLon. These helped us better that at its core they need to
the reporting deadline will focussing on how they can gain processes, with a focus on data and we stand for data ethics understand client needs through address data privacy first to
not be possible. However, the more value from their compliance. management. It is encouraging to in particular where it concerns defining our use cases and enable anything else. It’s been
work already put into reporting As a result, we will not only see that firms are recognising this AI and building algorithms and hopefully, we imparted some nearly two years since GDPR was
requirements for EMIR and MiFIR see firms reviewing their data and investing more in innovation. models. We unlock the power of of what is now possible in the effective, the CCPA in California
can act as a steppingstone that management processes in 2020 2020 is looking bright and we data without compromising its domain of data privacy to those recently went live and we believe
will make preparations for SFTR but also evaluating their entire expect to see a huge amount of security or protection. we met along the way. that organisations will stop living
easier. Further, with the delays compliance set-up. change within this space as firms in fear and using these and other
from ESMA in the lead up to strive to improve their operations FinTech enables a lot of progress, We are enthusiastic and terribly regulations to say no to data-
the implementation, we expect This goes hand in hand with the and streamline their performance. but if firms are unable to share ambitious for the year ahead in driven progress.

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companies in providing greater calls, eComms and social regulations being discussed. person client meetings, telephone
 visibility into their operations. media), GDPR and forthcoming As already discussed, this will calls, and voicemails for fear of
 The EU’s Markets in Financial EU ePrivacy Regulation both continue to be a huge dilemma accusations of snooping.
 Instruments Directive II (MiFID II) ensure private and personal in trying to detect crime versus
 and its UK sibling, the Markets data (including metadata) is put protecting privacy. Future Added to this, the widespread
 Shiran Weitzman Abuse Regulation (MAR), have firmly back in the hands of the legislations are likely to go well- use of BYOD (Bring Your Own

 A
 encouraged the surveillance of individual. beyond GDPR (which focuses Device) has necessitated even
 CEO and Co-Founder, Shield all trading-related commun- on personal data) to include further increased scrutiny of
 ications, both spoken and Undoubtedly firms will need to non-personal data sets such as activity on these platforms, which
 s we enter a new decade, electronic (eComms), tread a thin line between privacy browser cookies, transaction unfortunately means the lines
 the Financial Services between employees, their and business requirements when histories, support queries between personal and work-
 industry is likely to face clients and third parties. it comes to data processing, and other numerous types of related activities on devices
 even more complex, storage and investigation. This information. owned by the employees who use
 evolving and ever- However, the EU’s General is particularly tough on trading, them are blurred.
www.shieldfc.com changing challenges. Data Protection Regulation risk-management and research Banks of all sizes will require
 Luckily, the RegTech (GDPR), enforced in the UK desks – all of which rely upon deliberate design of enhanced From a technology point
 sector continues to make under the Privacy and Electronic personal relationships and will data privacy infrastructure, with of view, there are also big
 considerable advances Communications Regulation often see business and personal robust security and protection challenges when it comes to
 to meet these challenges (PECR) and Data Protection Act information shared in mixed technology to address these processing voice files, arguably
 and closely supports the (DPA), does at the same time conversation. communication challenges. The the most unstructured type of
 financial industry to threaten huge penalties for the
 meet its obligations both in
 terms of legal requirements and
 customer trust.
 misuse of personal data. The
 surveillance and storage of
 communications-linked data is
 “Undoubtedly firms wil need to tread a thin line between privacy and business
 Looking forward, here are four key
 challenges which we at Shield feel
 all compliance managers need to
 also likely to be given another
 layer of regulation under the
 forthcoming EU’s upcoming
 ePrivacy Regulation.
 requirements when it comes to data processing, storage and investigation."
 be aware of and address during Increasingly complex eComms major challenge is employing communications data. To cope
 the next 12 months and beyond: Seemingly these important surveillance the right solutions to achieve with these ever-increasingly
 pieces of legislation sometimes In an era of numerous and the necessary balance and to complex needs there will have
 Balancing privacy with contradict one another. For multiple eComms channels, cover all the necessary channels, to be greater use of natural
 surveillance example, whilst MAR requires there are numerous challenges in ensuring compliance teams can language processing (NLP)
 The tightening of regulations surveillance of communications detecting financial crime, fraud, be sure they are covering all and extensive data set training
 has seen an increased within companies’ front-offices, and privacy issues. eventualities. (which enables automatic text
 obligation for financial services (including recording phone summarization and classification).
 Financial institutions have Effective voice surveillance
 so far had a relatively easy With an increasing choice Machine translation (for example,
 path in regard to monitoring of voice communications speech recognition), automatic

REGULATORY COMPLIANCE
 communications, largely platforms, financial firms will summarization and sentiment
 because many banks and other find it increasingly difficult to analysis are now all possible
 lenders typically have their own ensure compliance is maintained through machine learning, so
 proprietary, secure and encrypted effectively. There are also can be applied to future-proof
 communications platforms significant legal, ethical and financial firms’ development of
 through which traders interact technological considerations financial crime risk and market
 with their customers. that make voice surveillance abuse tracking and monitoring

TRENDS IN 2020 AND BEYOND
 especially challenging. solutions.
 However, consumers are
 increasingly accustomed to Whilst most people accept they Greater scope for Market
 engaging in dialogue with their will be monitored on surveillance Abuse
 service providers via WhatsApp, video daily, most individuals and Increasing numbers of eComms
 Skype and Facebook Messenger companies (especially small to channels and ever-increasing
 - in their current forms, none midsize financial institutions) are amounts of data means that
 of them meet the pending not comfortable with recording in- whilst the compliance teams have >

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WILL 2020 BE
more work to do to find criminal Getting ready for the next as an example, we enable 15.000 ingest millions of sources globally
activity, those that want to carry economic downturn counterparty risk managers across languages (including
out market abuse have even Investment portfolio forecasts, worldwide to efficiently track risk Chinese) and uncovers relevant
more scope to do so with a higher which are assessed towards events in real time that are trends and signals using
chance of hiding this activity. year’s end have seen the words otherwise not captured by proprietary algorithms.
 “potential recession” among its traditional credit risk metrics.”

 THE YEAR OF
Examples such as UBS Securities trending buzz words. One of the Building a team of A-players
banker Igor Poteroba tipping renowned non-profit research In the end, our clients don’t just Owlin knows what it’s like to drive
off a friend about lucrative organisations analysing this gain insights, they also save time a bumpy road. Two of its initial
upcoming transactions and the matter is The Conference Board and money. Better understanding founders left in the early years
LIBOR rigging scandal (where the and its LEI (Leading Economic risk is practically mandated by when the company faced a rare
perpetrators openly discussed Indicators) index. Despite its regulations such as Basel III, obstacle: their initial seed-investor
their illegal plans) demonstrate relative accuracy over the past 60 which require financial institutions went bankrupt, defaulting on their

 A WORLDWIDE
just why compliance teams need years, there were a number of to maintain more diligent, funding commitment.
to be highly vigilant. occasions, on which the LEI real-time risk management Nonetheless, the remaining team
 reported false positives, or lagged processes. bootstrapped their way to
Unfortunately, there is a potential in time, missing out on early profitability, carefully selecting
for coded language to be warning signals. Developing a powerful AI- their next institutional investor.
employed in communications as driven solution
well, which could be used to fool Reinventing Risk Management Access to relevant information Owlin has shown significant
compliance analysis software Financial institutions are and timing are crucial when it growth of both business and

 RECESSION?
that isn’t up to the job. For increasingly looking for alternative comes to risk management. One product over the past years. With
example, in voice data to capture early warning of the key issues, especially when a relatively small —though rapidly
communications there could be signals to give them a head it comes to non-public entities, is expanding— team, it created
subtle clues in the language to start in case of an economic the lack of information that would impact across its client base, and
pass specific information (with downturn that will impose (credit) go beyond just financial landed various Tier 1 financial
the involved parities aware they risk to their investment or statements that are often institutions. “We are very proud
are being recorded and the counterparty portfolio. published too late to act upon. of our team of A-players that
speech analysed). Furthermore, it is often the we’ve put together over the years,”
 Until now, most financial non-traditional, local news adds Leemhuis.
Therefore, it will remain vital that institutions have relied on ratings, sources, which go beyond the
RegTech systems are able to annual reports and other ‘slow’ scope of interest of global Series A
flag up any suspicious or unusual financial data to assess their risk financial media. Owlin saw a huge appetite for
communications or activity for full appetite and make decisions. alternative data and AI solutions in
investigation. Automated systems Owlin enables its clients to Owlin’s platform has been of help the US market for financial
are very good at spotting patterns Sjoerd Leemhuis monitor their risks continuously to risk managers when mitigating services. The company raised its
and when able to continuously and in real-time. Owlin adds risk, having a number of $3,5M Series A with Velocity
learn through daily deployment, CEO & Co-Founder, Owlin news and unstructured data to successful cases where an early Capital Fintech Ventures to
they become far more effective at their risk monitoring to help warning -through a change in finance a US sales office and
trawling through large amounts of continuously and in real-time, by minimize their losses. relative news volume and the risk accommodate further growth.
data to find suspicious behaviour tapping into more than 3 million score- indicated suspicious Owlin’s decision to partner with
than human teams could ever be. global web sources. Using Natural With its powerful risk scoring activities. It was also thanks to its Velocity arose from a firm trust in
 Language Processing and algorithms and ML-powered entity NLP technology and language the group’s proven investment
An essential role Machine Learning, Owlin detection, Owlin analyses models, which in combination with track record as well as a shared
Whilst compliance managers significantly boosts visibility and contents of millions of news secondary sources detected vision in the ways in which the
are facing increased complexity Amsterdam-based AI transparency of the portfolio while articles daily, seeing relative events before they were company can continue to grow
in meeting regulations, it is one company Owlin equips Risk highlighting early warning signals. changes in scores across the reported widely. well into the future.
of the most vital functions for executives in Big Finance With its impressive client base, it whole field and seeing, which
any financial firm. By ensuring with the right tools supports Risk executives at banks, particular events might be risk Whereas traditional data vendors Donato Montanaro, partner at
the business avoids punitive pension funds, payment events that require attention from and news terminals rely on Velocity Capital states: “At Velocity
fines and reputational pitfalls, Owlin, a fast-growing AI Fintech facilitators and rating agencies the risk analyst. manually curated, historic data we invest deeply and intensely in
watertight compliance is integral from Amsterdam, offers a solution with AI-driven decision-making aggregation (i.e. slow data), Owlin carefully-chosen unstoppable
to success and contributes to the that helps risk managers to and capturing risk signals in a Owlin CEO Sjoerd Leemhuis: “by automates the entire workflow— Fintech founders, then we aim to
bottom line. monitor risk proactively, timely manner. collaborating with Fitch Ratings, building a powerful pipeline to help them dominate their markets. >

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THE TEAM AT KOINE
Owlin is the rare financial services maintaining their fiat capabilities. two halves. The first half is likely to to pivot to emerging institutional
start-up combining technological see subdued retail trading in demand. This will lead to business
powers with a winning Our infrastructure already digital assets as BTC, in particular, model transformation, significant
collaborative mentality. The supports more than 40 clients finds a new price level. However, technology upgrades and a
company’s culture and its across all trading styles – from turmoil remains a factor in the significant growth in market
considerable potential to grow passive holding to high-frequency principal equity or bond markets, volumes, of somewhere between

 PROVIDE AN INSIGHT
further well into the future makes trading, offering real-time gross which could feed through to 50% and 150%, in both spot and
it a perfect match for our and net settlement options. volatility in digital asset prices. derivatives markets. Exchanges
investment values.” will start to set out voluntary
 Koine was founded before many In the second half of the year, we standards of operation and codes
Setting up shop south of of the traditional global are likely to see the first ETFs of conduct.
Central Park companies became involved with listed in the US, possibly even
What are Owlin’s main plans for digital capital. Our expertise is the with SEC approvals. Large scale The post-trade infrastructure will

 INTO THE MARKET
the year ahead? As part of their product of an executive team broker dealers, now licensed for begin maturing and, for the
rapid expansion, Owlin has put consisting of banking, capital crypto-assets trading, will launch first-time, asset-allocators will
boots on the ground in the US. markets and payments retail BTC trading (such as TD receive real time reporting from
The company just signed the professionals; industry stalwarts Ameritrade to their 11million+ funds administrators.
lease for an office location in with extensive experience who retail clients, soon to be merged
Midtown New York - just south of understand the need for a with Charles Schwab). They will do The first large cap corporate
Central Park. Currently the team is platform that significantly reduces so off the back off new bonds will be issued in 2020,
frequently flying across the pond counterparty and settlement risks professional exchanges, such as probably in Europe first, and
to interview potential recruits and for trading. LGO and Eris-X (licenced for potentially the first digitalised
further conquer the vast market of crypto-spot and derivatives) and credit instruments. Property
NYC-based asset management In order to consistently meet professional market infrastructure tokenisation will see early signs of
firms, hedge funds and expectations and eliminate (independent post-trade take-off in Europe, with the US
investment banks. human error (recognised globally solutions, such as Koine, covering lagging behind.
 today as the key cause of fraud custody and settlement). Similar
For Fintech companies, building a and hacking), Koine’s technology market structures will emerge in Incumbent exchanges such as
world-class team and finding the
right product/market fit are key.
 Serafino Manca must stay on top of the industry
 trends. Our digital vaults are
 Europe though with different
 licensing frameworks.
 Nasdaq, LSE, SIX and Euronext
 will make notable announcements
Owlin believes Fintechs should Head of Marketing, Koine sealed by a proprietary invention on the execution of their plans to
primarily be solution-driven and – Digital Airlock 2122 – at the Asset allocators will finally start to shift over the next decade to
focus on solving an imminent highest military standard (EAL7+). put money into the hedge funds digital securities.
problem, rather than pushing a these providers do not meet the and we could foresee perhaps

 I
product in the market. In Owlin’s needs of institutional capital, which Koine comes to market with a $10billion of new capital, allocated In Europe, 5MLD regulations will
case, leveraging the power of is for a service that meets existing complete end-to-end post trade in late 2020. These changes will upgrade the perceived quality of
digital technologies further will conventional market standards. solution for digital assets and fiat lead to significant volume growth local crypto-exchanges, which is
prove essential in increasing the ncreasingly, participants in money, operating in a model that in the second half of year and likely to positively impact market
time efficiency and effectiveness the digital assets market are Koine, however, was shaped with is familiar to existing capital price rises in the principal share. Licences for the first Digital
of risk management. looking for platforms that the precise intent to thrive in the markets professionals, resolving crypto-assets. CSDs will be issued in Europe and
 provide them with services rapidly developing digital industry all current issues. possibly the Middle East.
The Risk Analytics market sector is similar to those of world- and meet these needs. It is likely to be a year of
expected to accommodate double famous, legacy custodians. Trends and opportunities bifurcation of the market venues, Stablecoin announcements will
digit growth, partly indicated by a Institutional investors and We offer segregated, institutional for 2020 with perhaps somewhere probably grow faster than
strong trend of risk monitoring, family offices are willing to custody and settlement with the We expect 2020 to be a year of between 20% and 30% choosing volumes, but it’s entirely possible
despite relatively positive economic engage with digital and fiat same full governance, to envisage total issuance being
conditions. With its product assets, but only whilst fully compliance, risk management more than $10billion by year
roadmap closely developed with adhering to regulated and audit of real-time asset end, with daily trading volumes

 “Our expertise is the product of an executive team consisting
the needs and wishes of the world’s market practices. trading, whilst our technology higher than $40billion/day by
leading financial institutions in marries pioneering security the year end.
mind, Owlin expects to strengthen Digital assets post-trade is a with innovative software

 of banking, capital markets and payments professionals."
its position in the U.S. market and competitive landscape, but it is engineering. This combination We will look to see a new stable
sustain further growth. Exciting currently splintered into a number allows investors to embrace the coin emerging in Asia around Q4
times ahead! of service providers. Individually, digital asset class, whilst 2020, designed for institutional >

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“Some organisations
 have attempted to build
 their own internal tool
 WHY PAYMENTS-
capital markets. Settlement coins, keep a system easy to use, well
backed by the largest banks, will maintained and constantly
fight for market share amidst updated with new features.

 and discovered that
limited volumes.
 This is where eBrevia has fit in

 AS-A SERVICE IS
In contrast, we expect the Libra
 Abbas Khan nicely, giving clients access to

 this is costly and with
project to make limited headway strong, accurate and versatile AI
in 2020, but we might see central Project Manager, eBrevia – and all incredibly user friendly.
banks increasingly signposting As a result of this, eBrevia is being

 little guarantees of
the way forward towards their own developed in partnership with used by many financial
issuance of digital money. Columbia University to extract institutions (including well known

 THE FIRST CHOICE
However, we believe no central data from contracts and banks and service providers)

 effectiveness."
bank issuances of any documents, bringing across different regions for LIBOR
significance to retail market will unprecedented accuracy and repapering. Users have found that
take place in 2020. speed to legal and commercial it has been easy to train the
 1. How can you save 650 hours analysis for clients worldwide. system to understand the niche
Koine’s 2020 per year? (and sometimes organisation

 FOR FINANCIAL
At Koine, we are in the process of 2. How can you make projects Though the system comes specific) provisions they are
applying for a number of 30-90% more profitable? pre-trained to recognise hundreds looking for. This has enabled
authorisations in major financial 3. How can you analyse a 150- of types of clauses and risks (not phase out LIBOR in contracts with clients to analyse large amounts
services locations. This will allow page document in a matter of restricted to any particular a maturity date of 2021 and of documents with fewer people,
us to expand further across minutes? formats), a great part about beyond – to say this is a huge task time and resources (with the
Europe, the Middle East and the With eBrevia! eBrevia is that it can be easily is an understatement. process being 30% to 90%

 INSTITUTIONS
US, securing greater international trained to understand new or quicker than manual review).
presence in 2020. eBrevia is a little like a robot industry specific clauses. From as Today, the interest rate is used as This has resulted in huge cost
 lawyer that analyses contracts for little as 6 examples, you can train a reference for an estimated savings too.
We expect to see market share you, saving time by understanding eBrevia to understand niche and $350 trillion of loans, securities
growth by exchanges on the the key risks in contracts. specific clauses and concepts. and derivatives worldwide. A But that’s hardly surprising, with
Koine platform, LP capital start to Contracts can now be reviewed harsh reality hitting many firms is many success stories already
flow to the hedge funds in small and negotiated in record time. As a result, eBrevia is used widely that they cannot remain behind the system. Far from being
volumes (under $2bn), and around the world in many different compliant using “old-school” (yet restricted to single use cases
significant growth in high Shortlisted for an award under the types of organisations for many very common) methods such as (eBrevia is used to manage real
frequency trading shifting into the FT Intelligent Business Report different types of purposes. This manually reviewing each contract. estate portfolios, procurement
crypto market with substantial (October 2019), eBrevia uses is especially relevant with the Due to the sheer volume of contract analysis, M&A due Julian Colls
PROP capital. industry-leading artificial
 intelligence, including machine
 current LIBOR re-papering facing
 the financial services industry.
 documents, manual review would
 take too long and come with an
 diligence, HR contract reviews
 – and many other uses) - eBrevia
 Head of UK
We are prepared for regulation to learning and natural language Across the globe, financial extortionate price tag. was used widely in 2018 for GDPR Enterprise,
come into its own over the next
twelve months as more
 processing technology, institutions are preparing to
 The most efficient method,
 re-papering. Household names
 such as the AA used eBrevia to
 Form3

 THREE QUESTIONS FOR
jurisdictions and authorities seek therefore, is to have a machine successfully identify and re-
to support the flow of institutional assist in the review of documents. negotiate over 2600 contracts,
capital. We anticipate a surge in Yet this option brings issues of its five weeks before the GDPR More and more Financial
demand for custodial and own; how do you know what implementation deadline. This Institutions are choosing to
settlement services as a result, machine is best suited for the was also done at one fifth of the outsource their mission critical
and already have the job? cost of manual review. payments infrastructure over
infrastructure, governance and building or licensing legacy

 YOU TO CONSIDER
team in place to meet it head on. Some organisations have But don’t take our word for it – technology.
As we onboard more clients, and attempted to build their own with satisfied clients around the
as the market continues to internal tool and discovered that world including 3 out of the Big 4 The pace of change within the
progress, we’re excited for this is costly and with little Audit firms, global law firms and global payments technology
Koine’s growth potential and our guarantees of effectiveness. corporate household names (big space is still at full speed with no
role in leading the industry in Building strong AI is increasingly and small) – eBrevia can help you sign of slowing down. While
meeting institutional investor complex, barely taking into with increasing efficiencies, traditional incumbents have until
needs globally. account the additional effort to profitability and more.” recently taken comfort in their >

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