THE MOST INFLUENTIAL FINANCIAL TECHNOLOGY COMPANIES OF 2021 - The Financial Technologist - Harrington Starr

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THE MOST INFLUENTIAL FINANCIAL TECHNOLOGY COMPANIES OF 2021 - The Financial Technologist - Harrington Starr
The Financial
Technologist
 ISSUE 1 .. 2021

THE MOST INFLUENTIAL FINANCIAL
TECHNOLOGY COMPANIES OF 2021
THE MOST INFLUENTIAL FINANCIAL TECHNOLOGY COMPANIES OF 2021 - The Financial Technologist - Harrington Starr
The Financial Technologist | Issue 1 | 2021

     Contents
04   Introduction by Toby Babb,                           40   Managing Cost and Sustainability                   65   Understanding the accelerating               88    Optimising for performance
     CEO of The Harrington Starr Group                         for HPC workloads in financial markets                  demand for trade plant analytics                   Leigh Walters TRG Screen
                                                               Rob Elder Bulk                                          Clive Posselt Instrumentix
06   MEET THE JUDGES                                                                                                                                                90    Be part of the economic recovery engine
     Rupert Bull The Disruption House                     43   Foreign Exchange- The Perfect Storm                67   Why global transformation                          Zitah McMillan Predictive Black
     Guy Weaver Praetrua Ventures                              Keith Hill Caplin Systems                               begins with the digital
     Colin Slight The Realization Group                                                                                Matthew Cheung ipushpull                     92    Providing solutions that grow and adapt
                                                          44   The Cassini Vision                                                                                         Stephane Tyc Quincy Data and McKay Brothers
15   THE LIST IN FULL                                          Liam Huxley Cassini Systems                        68   How 2020 rekindled our drive
                                                                                                                       for innovation                               93    A new era of technology enabled
     F E AT U R E S                                       46   How Microservices can                                   Anvar Karimson Kepler Cheuvreux                    innovation for capital markets
18   The Challenges that organisations                         improve performance now                                                                                    Mike Powell Rapid Addition
     face when innovating                                      Peter Lawry Chronicle Software                     70   A single solution for providing
     Simon Sear Studio 44                                                                                              end-to-end TPP Checking                      96    Challenges of the new compliance normal
                                                          49   Navigating Distributed Compliance                       Brendan Jones Konsentus                            Oliver Bradford Shield FC
20   Reacting with acceleration and                            in Today’s Institutional Landscape
     adaptation to a remote workforce                          Leo Papadopolous Cloud9 Technologies               72   LedgerEdge predicts the                      98    Why showing your workings is
     Tom Cole Abacus Group                                                                                             future of corporate bond trading                   essential for trusted AI andKYC
                                                          50   Understanding why Financial                             Ian Chicken LedgerEdge                             Hugo Chamberlain SmartKYC
23   Transforming the Capital Marketing Space                  Wellbeing starts with Open Banking
     Roy Saadon AccessFintech                                  Freddy Kelly Credit Kudos                          73   Has FinTech been revolutionized              100   Achieving Growth in an Exceptional Year
                                                                                                                       or is the revolution still to come?                Matt Smith SteelEye
24   Allvue Systems’ Top trends for GPS in 2021           52   Duco’s predictions for data in 2021                     David Mercer LMAX Group
     Yury Shterk Allvue Systems                                Christian Nentwich Duco                                                                              101   The Cloud vs Co-Lo: How
                                                                                                                  75   Exploring the evolution towards                    the Tortoise can Beat the Hare
26   The changing Investment Management Industry          53   How to tackle the complexity                            the true strategic partnership                     Steve Toland TransFICC
     Geoff Langham Alpima                                      of digital relationships                                Keith O’Brien LPA
                                                               Charlie Henderson Feedstock                                                                          102   Crafting transparent investment
29   Making finance accessible for                                                                                77   4 AML Predictions and Trends                       Georgia Stewart, Tumelo Tumelo
     the LGBT+ Community                                  54   FintechOS on why FinTech should be personal             that will shape FinTech in 2021
     Billie Simmons Daylight                                   Teodor Blidarus FintechOS                               Guðmundur Kristjánsson Lucinity              104   Revolutionising due diligence
                                                                                                                                                                          Cindy van Niekirk Umazi
30   The challenges for tech Innovation in Post-Trade     56   How FlexTrade is building the                      79   Harnessing the power of data
     Alastair Rutherford Ascendant Strategy                    future of trading technology                            David Cooney MahiFX                          106   Driving revenue growth for brokers
                                                               Andy Mahoney and Valeria Dejong FlexTrade                                                                  Ahmed Heikal Vela
32   Market Recovery- How Firms                                                                                   80   Exploring the symbiotic relationship
     are addressing the new reality                       58   The importance of resilience in global payments         between compliance and tech                  107   How to leverage UMR compliance
     Arjun Jayaram Baton Systems                               The Fnality Team                                        Mark Ellis MAP FinTech                             to achieve genuine transformation
                                                                                                                                                                          Wassal Dammak Vermeg
34   The growth of Assets in 2021 and                     59   How to make your firm future ready                 82   Minna Technologies role in creating
     the need for central clearing solutions                   Michael Mueller Form3                                   the perfect storm in FinTech                 109   Financial wellbeing and Open
     Tore Klevenberg Baymarkets                                                                                        Joakim Sjoblom Minna Technologies                  Banking payments
                                                          60   Analogue to digital with Exchange 4.0                                                                      Stefano Vaccino Yapily
35   Four compliance trends that will define                   Hirander Misra GMEX Group and SECDEX               84   The role of perspective and
     the Financial Services Industry in 2021                                                                           potential in maximizing tech                 110   Survival lies inthe demands of the consumer
     Erkin Adylov Behavox                                 62   The importance of embracing platform thinking           Avtar Singh Sehra Nivaura                          Philip Belamant Zilch
                                                               Milena Kannen IG
38   Data is becoming more complex -                                                                              86   Staying competitive during                   113   About Harrington Starr
     Are you keeping up?                                  63   Utilising FinTech to promote financial inclusion        a period of hypergrowth
     Mark Montgomery big xyt                                   Andrew Rabbit Incuto                                    Stefan Merz PPRO                             115   Contact us

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THE MOST INFLUENTIAL FINANCIAL TECHNOLOGY COMPANIES OF 2021 - The Financial Technologist - Harrington Starr
TOBY BABB, CEO,
               T H E H A R R I N GT O N STA R R G R O U P

Welcome to the
Financial Technologist!
Harrington Starr’s financial technology

A
                                                                                                                           The Financial                                      continue to thrive across the rest    With great volatility comes great opportunity. I
                                                                                                                           Technologist                                       of the year.                          recently interviewed Tobias Sproehnle of Moorgate
news, commentary, insight and features.
                                                                                                                            ISSUE 2 .. 2020

                                                                                                                                                                                                                    Benchmarks. Tobias and the team were determined
                                                                                                                                                                              Features of 2021 in the sector        to “use the crisis wisely” and to approach the
                                                                                                                                                                              have been investment and              pandemic with a straight mind, high spirits and to
                                                                                                                                                                              fast growth, as previously            emerge stronger. As they approach a Series A, one
                                                         simply wrong, my feeling is the next “roaring 20s”                                                                   mentioned, a near doubling of         can certainly see the benefits of their approach.

                                                                                                                           PHOENIX
                                                         isn’t too far away, powered by a strong financial                                                                    hiring requirements from the          Turning the negative into a positive has been the
                                                         sector that has had the petrol of digital innovation                                                                 same period last year and rapid       hallmark of great companies in financial technology
                                                         thrown on the proverbial bonfire. With the Bank                   LEADERS ACROSS THE INDUSTRY PLOT THE RISE OF THE
                                                                                                                                                                              innovation. Digital transformation    this year.
                                                         of England describing the economy as “a coiled                                                                       has continued after the necessary
                                                                                                                            FINANCIAL TECHNOLO GY LANDSCAPE POSTPANDEMIC

                                                         spring”, Governments in both the UK and the USA                                                                      BCP action of last year.              This issue of the magazine is always one I love. It
                                                         with heavy points to prove and a real, vested interest            The Financial                                                                            shines the light on innovative companies who are set
                                                         in economic stimulus, institutional money waiting to              Technologist
                                                                                                                            ISSUE 3 .. 2020                                   Tech innovation has been driven       to maximise their performance in the year ahead.
                                                         be invested, alongside an overwhelming sense of                   FINTECH 2020:                                      by a much delayed and thoroughly      Now in our fourth year of the Most Influential Fintech
                                                         positive pent up aggression, the winds are blowing in             SOWING THE                                         welcomed widespread adoption          listing, this to me is without question the most
                                                         an exciting direction.                                            SEEDS OF DIGITAL                                   of the cloud. Collaboration and       impressive of all. The companies listed have shown
                                                                                                                           TRANSFORMATION
                                                                                                                                                                              the rise and rise of APIs has         great resilience, huge compassion, intelligence,
                                                         The robust performance of the financial technology                                                                   allowed tailored and bespoke          adaptability, innovation, courage and skill. It is an
                                                         space throughout 2020 and 2021 has been                                                                              tech solutions. We have seen          enormous pleasure to be able to showcase so
                                                         astonishing. In hosting the Fintech Focus TV                                                                         a drive towards automation,           many of them and, in our biggest ever issue, bring
                                                         YouTube show and Podcast, I have had the great                     THE ULTIMATE FINTECH WORKPLACE AWARDS ISSUE       simplification and collaboration      you insight and content from so many of their great
                                                         honour of speaking to a series of truly exceptional                                                                  driven by a demand for increased      thought leaders.
                                                         companies three times a week for over a year.                                                                        efficiency and productivity. There
fter a turbulent 2020, we end Q1 of 2021 with            Almost without exception, we have been told                                                                          is an overwhelming demand in          I do hope you take as much inspiration and
the Fintech Market in a fascinating position. The        stories of first resilience and then stunning growth.                                                                financial markets (with a rising      enjoyment as I have from reading through the pages
sector has remained robust throughout and as we          I have lost count of the number of companies who                                                                     cost of sale) to simply get more      that follow. There is so much to learn from these
(hopefully) reach the end of the pandemic a brave        have grown by 100, 200 and once even 300%.                                                                           from less.                            exceptional firms and it is a true pleasure to be able
and blossoming new horizon approaches.                   Headcounts have been doubled, revenue goals                                                                          Cost reduction, friction reduction,   to provide this platform. Enjoy the magazine.

                                                                                                                                                                                                                    Toby
                                                         smashed and new products released at scale.                                                                          a new way of working, increasing
Looking back at the covers of last year’s magazines,                                                                                                                          digital customer expectation,
we saw the Fintech Phoenix emerge in the Summer          Alongside this we have seen funds raised regularly                                                                   improved efficiency. These are
of last year, as the confidence returned slowly to       with numerous high profile Series A and B raises                                                                     the hot topics and demands
the market after the paralysis of Spring. Our winter     announced. Great companies like Access Fintech,                                                                      that will have been made from
issue focussed on the green shoots of recovery.          SteelEye, Voxsmart and Solidatus (all listed later                                                                   boardrooms across the world in

                                                                                                                                                                                                                     NOW MEET THE JUDGES
This issue is centred around bloom as we predict a       in the magazine) have welcomed investment that                                                                       just about every financial services
strong recovery powered by significant growth and        will help them drive to even greater levels in 2021.                                                                 company. The companies that
innovation in the sector.                                Many more are being structured at the moment                                                                         have truly embraced those
                                                         and it is inspiring to see the investment continue to                                                                demands have thrived.
Whilst it may be over-optimistic, too soon to tell, or   grow in the space. My prediction is that this will only

                                                                                                                   GLOBAL LEADERS IN FINANCIAL SERVICES AND COMMODITIES TECHNOLOGY RECRUITMENT

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THE MOST INFLUENTIAL FINANCIAL TECHNOLOGY COMPANIES OF 2021 - The Financial Technologist - Harrington Starr
M E E T
M E ET HTE
            J U D G E S
T H E                                               David Williams
                                                    Partner,
                                                                         Kate Bohn
                                                                         Innovation
                                                                                              Colin Slight
                                                                                              Joint MD and
                                                                                                                   Steve Grob
                                                                                                                   Founder,
                                                                                                                                Ben Matthews
                                                                                                                                Partner,
                                                                                                                                                   Carrie Osman
                                                                                                                                                   CEO & Founder,
                                                                                                                                                                      Guy Webster
                                                                                                                                                                   Director,
                                                                                                                                                                                           Rupert Bull
                                                                                                                                                                                           CEO, The
                                                                                                                                                                                                                Raymond
                                                                                                                                                                                                                Kahn
                                                                                                                                                                                                                                     Nadia
                                                                                                                                                                                                                                     Edwards-
                                                                                                                                                                                                                                                          Toby Babb
                                                                                                                                                                                                                                                          CEO,
                                                    Financial Services   & Strategy –         Co-Founder,          Vision 57    Baringa Partners   Cruxy & Company Praetura Ventures       Disruption House     Managing             Dashti               Harrington Starr
                                                    Technology           Incubator &          The Realization                                                                                                   Principal,           Chief Customer
                                                    Consulting,          Accelerator Lead,    Group                                                                                                             Archon               Officer,

J U D G E S                                         EY                   Lloyds Banking
                                                                         Group
                                                                                                                                                                                                                Advisors LLC         Harrington Starr

        N
                ow in its 4th year, we are thrilled to have       offence and capitalised on the opportunities that                                          ■ Solutions that create notable cost reduction            These companies have undoubtedly been lucky
                worked with an incredible team of judges to       emerged. What will prove to be the correct strategy?                                       ■ Outstanding and highly talented teams with              in the markets that they find themselves in. The
                bring to you the Most Influential Companies                                                                                                  exceptional talent attraction and employee value          pandemic has not been so economically kind
        in Financial Technology in 2021.                          The golden threads that I have identified when talking                                     propositions                                              to all industries. That said, if you are in the right
                                                                  to these incredible companies have been common:                                            ■ Best in class and experienced leadership teams          place at the right time, one still has to ensure that
        This year looks set to be an incredible year for Global                                                                                              who have been able to set and navigate the course         opportunities are grasped. The entrepreneurial
        Fintech with the macro economic situation creating        ■ A laser sharp focus on solving problems that                                                                                                       wisdom, flair and ability shown in the pages that
        huge opportunities for innovation and disruption.         need to be solved                                                                          All of these are common sense but, as is always the       follow have been a source of great inspiration to me
        That is why this issue brings you the biggest list to     ■ A relentless desire to simplify and remove                                               case, rarely common practice making this list a truly     in the last 12 months.
        date. Quite simply there has never been a more            friction from complex process                                                              special crop. These traits listed above appear time
        rapid pace of change in the financial technology          ■ A desire to collaborate and add real value to                                            and time again in the conversations we are having         I pass my huge congratulations on to all those listed
        markets and an army of exceptional companies              customers                                                                                  and the secret formula will be very clear to see in the   in this year’s amazing issue and cannot wait to see
        have risen to the challenge.                              ■ Agility and adaptability to pivot and provide                                            pages that follow.                                        further press releases come throughout the year
                                                                  solutions to new problems and opportunities as                                                                                                       ahead heralding still more of their many incredible
        I am always fascinated about finding the common           they emerge                                                                                We see key areas and trends emerge. Cloud, cyber,         achievements.
        threads that tie these businesses together. What          ■ A desire to listen to the customer and provide an                                        low-code, interoperability, and of course data, data
        allows some companies to thrive whilst others             exceptional service                                                                        and more data. Regulatory technology, surveillance
        stumble? This year some have played defence               ■ Best in class technology driving products that                                           technology and anything that helps drive remote           Toby Babb
        waiting for the storm to pass, others have played         create stakeholder value                                                                   performance have come to the fore.                        CEO, The Harrington Starr Group

                                                                                                                                                         POWERED BY
                                                                                                                                                         HARRINGTON STARR

FINTECH
FOCUS TV
FinTech’s Most Innovative
Leaders Speak to Toby Babb
NEW EPISODES EVERY MONDAY, WEDNESDAY AND FRIDAY
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THE MOST INFLUENTIAL FINANCIAL TECHNOLOGY COMPANIES OF 2021 - The Financial Technologist - Harrington Starr
$100tr of funds to adopt its ESG       98% of a bank’s environmental                                              is seeking investment, I want to      like what Cleo are doing, and
                                                   reporting pledge.                      impact is in its supply-chain,                                             get to know the founder as much       in the corporate space, I think
                                                                                          according to recent PRI research,                                          as possible. I want to know what      Accel’s backing of Primo was a
                                                   If ESG is to be truly useful for       they will come under ever                                                  drives them, what their ambitions     particularly smart move.

        M E E T                                    the next generation, we must
                                                   capitalise on its popularity today.
                                                                                          greater scrutiny. Recent research
                                                                                          highlighting that Bitcoin has the
                                                                                                                                                                     are, that they have good industry
                                                                                                                                                                     contacts and are surrounded by        Looking further ahead, the
                                                   2021 will see progress to move up      same carbon footprint as New                                               the right people who can help         possibilities for FinTech and
                                                   another gear as ESG alongside its      Zealand highlights some of the                                             their business to scale. Good         its applications are endless.
                                                   partner ‘Sustainability’, matures      drivers for greater analysis of the                                        industry acumen always goes a         The reason FinTech absorbs
                                                                                                                                Guy Weaver
        T H E                                      from viral catch-all for ‘doing good
                                                   consciously’, into a meaningful
                                                                                          ESG impact of FinTech.
                                                                                                                                Director, Praetura Ventures
                                                                                                                                                                     long way.                             such a large proportion of tech
                                                                                                                                                                                                           investment as a whole is because
                                                   and consistent set of deliverables     The FinTech industry is a cradle                                           But what makes a good founder         its innovations, in some shape or
                                                   shaped by two forces.                  of exceptionally motivated,           Guy Weaver is Director at            a great founder? Being able to        another, underpin developments
                                                                                          creative and flexible talent, well    Praetura Ventures, the venture       explain your business’ proposition    across all subsectors of the

        J U D G E S
                                                   ■ Firstly, regulation such as the      positioned to influence the power     capital firm which invests           in a way that everyone can easily     technology industry.
                                                   EU Green Deal, the Sustainable         and direction of ESG from within.     in early-stage high-growth           understand. FinTech is known
                                                   Finance Disclosure Regulation          The right ESG messaging will          businesses, including Sorted,        for innovative but complex            Payroll management may not
                                                   coming in March 2021 alongside         boost access to talent, capital       Peak, Feedstock and Futr.            technologies, so a simple             sound like a glamorous FinTech
                                                   the Non-Financial Reporting            and customers, and make firms                                              articulation of the problem and       innovation, but it has the potential
                                                   Directive, and the FCA’s own           winners in the long-term by           The secret life of FinTech           the solution is often easier said     to permanently alter the nature of
                                                   proposals to enhance climate           formulating an early strategy for     and the people behind it             than done.                            businesses across all sectors and
                                                   related disclosures for corporates.    themselves.                           There is no doubt the FinTech                                              industries.
                                                                                                                                industry is booming – the            However, the ability to effectively
                                                   ■ Secondly, compatibility              To capitalise on ESG as an            numbers speak for themselves.        articulate what your business         PayPal, one of the world’s biggest
                                                   through formalising the multitude      opportunity, FinTechs will need                                            does is crucial. You can only grow    FinTechs, has recently moved
                                                   of disclosure requirements into a      to monitor and measure their          In 2020, UK FinTech firms landed     and scale a business if you can       to offer employees their salary
                                                   simpler set of modular standards       own ESG footprint as part of          $4.48bn of investment. This          sell your product, and there’s not    as soon as they have earned it.
                                                   based on scale, establishing a         their clients’ supply-chains. By      represents 32 per cent of all        much chance of that happening if      Although this seems innocuous,
                                                   recognised protocol overseen           demonstrating their own ESG           venture capital investment into      your customers and addressable        this is a major shift away from
Rupert Bull                                        by an independent authority            self-awareness, digital start-ups     the technology sector, according     market don’t understand it            how businesses handle their
CEO, The Disruption House                          with existing responsibility for       can accelerate their engagement       to Tech Nation’s latest ecosystem    properly.                             finances and significantly
                                                   corporate codes of conduct             with clients and help them to         update, and this injection of                                              disrupts cash flow.
 At The Disruption House (TDH),                    and accounting standards. The          meet the requirements of the next     capital shows no sign of             Identifying innovation
we expect ESG to play an ever                      IFRS is currently working on           stage of the ESG evolution.           slowing down.                        There has been a huge amount          While not necessarily attractive
larger part in the day to day life of              such a proposal with the hope                                                                                     of success across the sector in       to businesses, this does provide
FinTechs in the next 12 months.                    of unveiling a Sustainability          Our belief in the importance of       But, with the increasing             recent years, especially in open      them with one outstanding
                                                   Standards Board at the next UN         ESG is why we have designed           prominence of FinTech                banking. This means there’s           advantage: the power to draw and
ESG has until now acted as a                       climate change conference of           the TDH ESG Pathway - to help         businesses comes added               plenty of choice for businesses       retain the industry’s best talent.
way for businesses to shape the                    COP26 in November 2021. The            FinTechs demonstrate their            competition for the funding that     and consumers when it comes to        As I’ve touched upon, talent is a
narrative based on how they want                   collective knowledge of SASB,          commitment to sustainable             will fuel growth. In 2021, having    choosing the right solution           major driver of business success,
to project themselves publicly                     GRI, TCFD, UN SDG and the              outcomes.                             the right people at the helm of      for them.                             and having systems in place to
and commercially. Its popular                      CDSB amongst others will provide                                             your business will be just as                                              overhaul the way employees are
adoption and integration into                      the tools, technical support and                                             key to securing investment as        However, an unfortunate               renumerated is a very handy leg-
the mission statements and                         experience to help demystify                                                 the strength of your business        consequence of the growth in          up on competitors.
annual reports of multi-national                   adoption, accreditation and                                                  proposition.                         open banking is that consumers
corporations, the policy objectives                delivery for all participants.                                                                                    and corporates are using an           Over the next 10 years, FinTech
of governments and NGOs,                                                                                                        In seed- and early-stage             increased number of providers         innovations such as this won’t just
pressure groups and global think-                  FinTechs are at the heart of the                                             businesses, fundamentally we         each providing different              be the domain of the tech sector.
tanks, testifies to its permanence                 ESG movement but given that                                                  invest in the founders and the       functionality. A growing challenge    All industries are going to rely on
as a concept. On top of this the                                                                                                people running the business.         is management of the different        them to be successful. For the
UN’s Principals for Responsible                                                                                                 These are the individuals that       solutions people use. This is why     next best FinTech to capitalise on
Investment (PRI) has secured
commitments from 3,000 asset
                                        “If ESG is to be truly useful for the next generation,                                  directly influence the direction
                                                                                                                                of a company’s growth strategy,
                                                                                                                                                                     aggregation will be a key area to
                                                                                                                                                                     watch over the next 12 months.
                                                                                                                                                                                                           this opportunity, it needs the right
                                                                                                                                                                                                           person to spot it and drive the
managers responsible for over           we must capitalise on its popularity today."                                            and when I look at a business that   In the consumer space, I really       business towards it.

                                                                                                                                GLOBAL LEADERS IN FINANCIAL SERVICES AND COMMODITIES TECHNOLOGY RECRUITMENT

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THE MOST INFLUENTIAL FINANCIAL TECHNOLOGY COMPANIES OF 2021 - The Financial Technologist - Harrington Starr
M E E T

T H E

J U D G E S

                                                   James Hounslow of Harrington          something to say,” says Colin          media with a drumbeat around a         example, consume large amounts          something useful.’”
                                                   Starr, this article will discuss      Slight, Co-Founder and Managing        particular subject. Then back that     of information and quite like
                                                   the need for persistent market        Director of The Realization Group,     up with regular email newsletters,     reading, whereas if you're trying       The more good content you
                                                   communication.                        the specialist financial services      blogs, webinars, etc. Particularly     to approach front office traders        can put out there, the more
                                                                                         and fintech marketing agency.          in a complex sales cycle with high     or brokers with the same level of       somebody will want to talk to you,
                                                   Change with the times                 “Never go dark, because that           value sales.”                          detail, it just doesn't work. You've    says Hounslow. “You need to
                                                   Since the global pandemic, the        introduces doubt and uncertainty                                              got to adapt your message and           utilise every part of the business
                                                   sales and marketing landscape         in the market as to what's going       Running online events such as          delivery mechanism accordingly,         to come up with the content,
                                                   has changed considerably              on with your firm. Are you still       webinars can be a great source of      because they have different             and be consistently putting the
   Colin Slight                                    across every B2B sector. With         alive? Are you still active? Are you   relevant and interesting content,      attention spans”                        message out to your marketplace.
   Joint MD and Co-Founder,                        trade shows and conferences no        still keeping yourself relevant?”      says Cheung. “From a single one-                                               Consistency is key.”
   The Realization Group                           longer viable under lockdown,                                                hour event, if the content is good     Rogers’ firm uses LinkedIn
                                                   and with face-to-face contact         “You have to put yourself out          and you get the right questions        extensively, but the platform does      Alastair Rutherford, Managing
   Selling technology and software                 severely limited, it has become       there with interesting, relevant       and right discussions, that same       have its limitations, he says. “One     Director of Ascendant Strategy,
   into the financial markets sector               more important than ever for          content, so people come to you         content can be re-purposed             of the most senior people I know        a consultancy firm specialising
   is a challenging proposition.                   firms to get the right message        to learn about certain areas of        for another six-twelve months,”        doesn't use LinkedIn because he         in post-trade infrastructure
   Sales cycles can be lengthy,                    out to the right target audience      technology, or the market, or          he says. “When you do things           gets hit up all the time by people      transformation, also sounds a
   running from months to years                    by utilising appropriate social and   your products,” agrees Matthew         digitally, that content can persist    wanting something. He's more            warning note. “The reality is that
   in some cases. The technology                   digital channels. For firms selling   Cheung, CEO of ipushpull,              forever, and you can reshape it in     of a target on LinkedIn rather          most senior leadership roles
   is complex. Decision-makers                     software and technology into          a technology company that              lots of different ways. So from one    than getting much out of it, so         simply do not have the time to
   can be spread across the globe.                 the constantly evolving financial     specialises in live data sharing       online event you can create blogs,     he has just withdrawn himself           invest in this stuff, and the last
   The regulatory environment                      markets sector, this is               and workflow automation. “There        reports and social campaigns           completely. And I know some of          thing they want is a sales pitch”
   is constantly changing. And                     particularly crucial.                 needs to be enough of that             in the run up to the event, with       his senior colleagues have done         he says. “So you've got to have
   changes in key personnel and                                                          messaging so you have constant         follow up articles, posts and social   the same.”                              a credible and engaging pitch
   organizational structures occur                 Rather than just raising brand        brand awareness, which can then        media again afterwards.”                                                       that isn't just pure sales. There's
   regularly, particularly when                    awareness, marketing now              work hand-in-hand with smaller,                                               Despite its limitations, LinkedIn       nothing worse than having
   acquisitions and mergers                        needs to be more tailored to          targeted campaigns.”                   Focus on the Right Audience            remains the digital and social          someone who doesn't
   take place.                                     customers’ problems. A vendor                                                When distributing content,             channel of choice in the B2B            understand your business,
                                                   needs to be seen an authority         Be Consistent                          it’s important to ensure               sector, says James Hounslow,            just prattling on about their
   In such a dynamic environment,                  and an educator, someone              Consistency of messaging, both         appropriate channels are used          Managing Director at Harrington         technology or services. But if
   what are the best marketing and                 who understands what their            internal and external, is key,         so it reaches the right people,        Starr, a global specialist in fintech   someone comes across with
   sales practices that firms can                  customers’ issues and challenges      says Debbie Brown, Global VP           says Carl Rogers, Director at          recruitment. “But you need to           a bit more empathy based on
   adopt in order to increase their                are, and who can present –            Marketing Asset Management at          Finceler8, a London-based              connect to the right people”,           some knowledge and market
   chances of success?                             through white papers, articles,       Broadridge Financial Solutions,        fintech accelerator. “Banks,           he says. “And it's not just the         colour, that starts to become
   This article is the first instalment            blogs, podcasts and increasingly      a financial services technology        asset managers, hedge funds            marketing team that needs to            interesting.”
   of our seven-part “selling to the               video - how these challenges          company. “If various people within     and brokers, all have their own        connect to those people, it's the
   enterprise” series, in which we                 can be addressed. This requires       your organization are pushing out      particular peculiarities and           salespeople too.”                       Lockdown has in some ways
   discuss with industry leaders                   a closer integration of marketing     blogs on social media, you have        requirements, so you need to                                                   made things easier in that regard,
   how selling high-value solutions                and sales than may have been the      to ensure you have consistency         focus on a specific group. It starts   Be Credible                             adds Rutherford. “Things have
   to a small, finite group of                     case in the past.                     of internal messaging before           and ends with the customer: who        You have to give people a reason        changed with people working
   potential customers requires a                                                        taking it out to the market,” she      are you targeting, and what's the      to want to connect with you, says       from home. If I've got half an hour,
   fundamentally different sales,                  Never Go Dark                         says. “Then make sure that             best mechanism of reaching             Hounslow. “I'm constantly getting       I might read or watch something.
   marketing and lead nurturing                    “You should always have               you're continually out on social       them? With brokers for example,        connection requests from people         Whereas if I’m in the office and
   approach to selling lower value                                                                                              we've always done a lot of face-       I don’t know, who I’ve never met,       I’ve got half an hour, there's a
   solutions to a larger pool of                                                                                                to-face work because that's            with no message attached, so            queue of people just waiting for
   customers.                             “Rather than just raising brand awareness,                                            the nature of the beast. They          why would I want to connect with        me to not look busy so they can

   Featuring Colin Slight of The
                                          marketing now needs to be more tailored to                                            like that personal interaction.
                                                                                                                                But obviously, given the current
                                                                                                                                                                       them? They're giving me nothing.
                                                                                                                                                                       I also get requests from people
                                                                                                                                                                                                               suck up my free time.”

   Realization Group, Matthew             customers’ problems. A vendor needs to be                                             climate, that's a lot more             saying, ‘We can do this, we can         Look out for the rest of
   Cheung of ipushpull, Debbie                                                                                                  difficult now.”                        do that, so you and I should            this series at https://www.
   Brown of Broadridge Financial          seen an authority and an educator, someone who                                                                               connect’, and I'm thinking again,       therealizationgroup.com/insights/
   Solutions, Carl Rogers of
   Finceler8, Alastair Rutherford
                                          understands what their customers’ issues and                                          Rogers points out that there
                                                                                                                                are different cultures within
                                                                                                                                                                       ‘You're just cold selling to me
                                                                                                                                                                       here. Give me a reason to want
                                                                                                                                                                                                               blog/#, where our next article
                                                                                                                                                                                                               will focus on the importance of
   of Ascendant Strategy and              challenges are, and who can present."                                                 job functions. “Analysts, for          to connect with you. Tell me            building communities of interest.

                                                                                                                                GLOBAL LEADERS IN FINANCIAL SERVICES AND COMMODITIES TECHNOLOGY RECRUITMENT

                                                         1 0                                                                                                                  1 1
THE MOST INFLUENTIAL FINANCIAL TECHNOLOGY COMPANIES OF 2021 - The Financial Technologist - Harrington Starr
THE MOST INFLUENTIAL
FINANCIAL TECHNOLOGY
  COMPANIES OF 2021
     300 companies
     set to dominate
     the headlines in
      the year ahead
THE MOST INFLUENTIAL FINANCIAL TECHNOLOGY COMPANIES OF 2021 - The Financial Technologist - Harrington Starr
THE LIST IN FULL
                                           10X Banking           B2C2                         Capitolis                    Coinfloor

                                               11FS              BankBI                        Caplin                       Collibra

                                          Abacus Group           Bankifi             Capula Investment Man'ment           Commcise

                                             Abelee          Baton Systems                   Cashflows            Compliance Sol'ns Strategies

                                          Access Fintech      Baymarkets                     Cashplus                  ComplyAdvantage

                                          AccountScore          Beacon                        Cassini                     ComplySci

                                              AEVI            BearingPoint                     CBOE                       Confluence

                                              Allvue            Behavox                        Celer                      Copper Inc

                                             Alpima          Beyond Identity                   CFRA                        Corefiling

                                              Alyne             BH-DG                      Checkout.com                    Coremont

                                            Amphora              BigPay                      Chronicle                      Cosaic

                                             Anonos             Big XYT                    Cidran Capital                   Credas

                                            AQMetrics            Blockfi                      Citadel                    Credit Kudos

                                         Aquis Exchange       Blockworks                     Citydata AI                  CubeLogic

                                            Arachnys           Bloomberg                       Clarna                   Currency Cloud

For more information, contact us at           Arca               BMLL                       ClauseMatch                   Currensea

fix@fixtrading.org                          Arkk Solutions         Bolero                     Clearmacro                      Cutover

                                        Ascendent Strategy      BriTech                         Cleo                     CyberTonica

                                             Au10tix             BTON                     Cloud Attribution                  Dacxi

                                             AutoRek              Bud                         Cloud9                       Data Site

                                             Avaloq             Calabrio                     CloverDX                     Databricks

                                             AXA IM            Calastone                    CLS Services                    Daylight

                                           AXETrading           Callsign                       CLSA                       Delta Capita

                                              Ayasdi            Canaree                    CMC Markets                       DEXT

                                              Azimo          Capital on Tap                    Codat                    DFIN Solutions

                                      GLOBAL LEADERS IN FINANCIAL SERVICES AND COMMODITIES TECHNOLOGY RECRUITMENT

                                                                               1 5
THE MOST INFLUENTIAL FINANCIAL TECHNOLOGY COMPANIES OF 2021 - The Financial Technologist - Harrington Starr
THE LIST IN FULL                                                                                          THE LIST IN FULL
Diamond Standard             Finastra                       Hyperexponential                LPA                    nCino               Quantexa                 StarCompliance         Tumelo

      Divido                Finbourne                          IG Group                   Lucinity                Nebeus           Quantifi Solutions             Starling Bank        Ultumus

    Disperse                FintechOS                         Igloo Trading               Luxsoft                 Neotas           Quantum Group                    SteelEye            Umazi

   Doconomy                  Fire.com                          IHS Markit                 MahiFX                  Nivaura           Quincy/Mckay                    StoneX             Valantic

      Droit                  Flextrade                          Inbotiqa                   Maia                    Nivo               Quotevine                  Style Analytics     Vanguard IM

      Duco                    Fnality                            Incuto                   Mambu                  Northrow           Rapid Addition                  SumUp             Varengold

     Egress             Folio Technologies                      ingenico                MAP Fintech                Nude               Rapid Cash                   Symphony              Vela

Eigen Technologies            Form3                             Instinet              Marex Spectron          Numerix (TFG)            Reformis                TAINA Technologies       Velox

     Elavon                  Fronted                          Instrumentix             Marshall Wace              Ocrolus                Rhino                      Taskize            Vermeg

   ElementaryB              Fundapps                               Ion                   Maystreet                Onfido                 Ripjar                 Thought Machine        Volante

    Enfusion                   GBG                             ipushpull                  Meniga                 OpenFin         Rival Trading Systems                Tickr            Volume

    Equilend         Genesis Global Technology                    Iress                  Metrobank              OpenPayd               Roqqett                        Tink             Vortexa

Essentia Analytics             Glide                              Itiviti                  Mettle                 Ozone              RPMI Railpen                  Tokensoft          Voxsmart

   Ethics Grade               Glue42                        Kaizen Reporting             Milestone                Paysafe           Salary Finance                  Tookitaki       W2 Global Data

    Euronext                  GMEX                         Kepler Cheuvreux          Minna Technologies        Ping Identity      Sapience Analytics             Toppan Merrill      Wagestream

     Eventus                Gocardless                         Konsentus               Mitek Systems               Plaid               ShieldFC                     Torstone          Wealthify

      Exane                  GoHenry                         Leading Point                Modulr                   PPRO                 Sigtech                 TRAction Fintech        Wirex

      Exate               GoldenSource                        Ledgeredge               Mojo Mortgage          Predictive Black      Smart Pension                  Tradeweb            Xceptor

      Exiger                 Greenkey                          Lendsmart                 Moneyhub                 Prequin             SmartKYC                   TradingScreen      Xpansion FTS

      ezbob               Gresham Tech                       Life Moments           Moorgate Benchmarks         Primary Bid           smartTrade                   TransFICC             XTX

      Fairly                  Habito                   Liontrust Asset Management         Movius                  Primer              Snowflake                    TransitNet           Yapily

  FeatureSpace             Hedgeguard                           Littlepay             NanoFoundation              Privitar           Softomotive                    Trayport           Yobota

    Feedstock                 HooYu                         Livemore Capital              Napier                 Productfy             Solidatus                 TreasuryXpress          Yolt

     Fenergo               HPD Software                          LMAX                     Nasdaq                  Protiviti            Sonovate                   TRG Screen            YOTI

     Finantix                 Humn                 London Stock Exchange Group          Navex Global            Q2 Banking              Sovryn                     TrueLayer            Zilch

                                                                                                          GLOBAL LEADERS IN FINANCIAL SERVICES AND COMMODITIES TECHNOLOGY RECRUITMENT

                                                 1 6                                                                                                     1 7
THE MOST INFLUENTIAL FINANCIAL TECHNOLOGY COMPANIES OF 2021 - The Financial Technologist - Harrington Starr
THE MOST INFLUENTIAL FINANCIAL
                                                                                                                                                                                              TECHNOLOGY COMPANIES OF 2021

IS YOUR ORGANISATION’S
                                                                                                                 on a journey of exploration, chaos     secondment from the BU to be              sure ideas flowed through, but
                                                                                                                 and uncertainty. If they did, they’d   part of the product team                  they had little motivation to make
                                                                                                                 start their own business or work       developing the idea, who go back          it work properly. They just had to
                                                                                                                 for a high growth company. To          to the business when a product is         hit their KPIs for ideas generated
                                                                                                                 them, safety, reliability and          released to spread the Agile love.        and developed.
                                                                                                                 consistency are far more

APPROACH TO INNOVATION
                                                                                                                 important and that creates a risk      It’s a good model on paper and            Boards and senior managers are
                                                                                                                 averse culture that values the         easy to measure at each stage of          far more successful in realising
                                                                                                                 status quo, not change. They           the innovation cycle. It’s                growth through innovation when
                                                                                                                 admire Elon Musk and Jeff Bezos,       something that McKinsey, BCG,             they set stretch goals on revenue,
                                                                                                                 but they don’t want their stressful    Accenture and all the top tier            profitability and cost and give
                                                                                                                 lives, well, maybe their money!        consultancies advocate. Execs             middle managers and BU leaders
                                                                                                                                                        and senior leaders around the             clear objectives to take risks and

FAILING?
                                                                                                                 The second big challenge is that       world have taken this prescription        generate step-out value in the
                                                                                                                 organisations focus on the             and have similar innovation labs,         medium to long term. Measuring
                                                                                                                 process and not the outcome.           models and KPIs.                          them on how many ideas they
                                                                                                                 Here’s an example. I recently                                                    have in the hopper or in
                                                                                                                 spent some time with senior            Here’s the rub. I asked the leader        development is the wrong way to
                                                                                                                 leaders at a global company that       of the labs how many ideas they           drive the desired outcome. The
                                                                                                                 is spending tens of millions of        had taken through to launch. The          trouble is, it’s easy to measure
                                                                                                                 dollars on innovation labs. They’ve    answer was pretty shocking, after         and tick off KPIs on a scorecard,
                                                                                                                 partnered with one of the big tech     18 months, and despite the                but it’s the wrong approach.
                                                                                                                 consultancies and built 2 large        hundreds of ideas, and millions of        Ironically, shareholders don’t care
                                                                                                                 innovation labs with Agile product     dollars, only one had made it to          about the KPIs, they care about
                                                                                                                 teams (200 people+). The               scaleup.                                  outcomes.
                                                                                                                 business model works like this:
                                                                                                                 the board has mandated that            Off the record, the head of the           If you don’t believe me, then look
                                                                                                                 business units (BUs) have to           labs told me the root cause. The          at Amazon, Apple and Google and
                        Simon Sear, Founder                                                                      come up with a certain number of
                                                                                                                 innovative ideas to feed the
                                                                                                                                                        BU leaders didn’t see the value to
                                                                                                                                                        them. They actually saw it as a
                                                                                                                                                                                                  their market valuation. They focus
                                                                                                                                                                                                  on growth and attract people who
                        and CEO, Studio44                                                                        hopper. The innovation lab runs a      group-level tax, a cost of doing          want to go on innovation journeys,
                                                                                                                 shark tank/dragons den type pitch      business. They were far more              and they advocate continual

D
                                                                                                                 ceremony to select ideas and, for      interested in making more                 experimentation but, more
                                                                                                                 successful bids, matches the           revenue, improving profitability or       importantly, the leaders accept
                                                                                                                 investment from the business           cutting costs within their own            that they will have failures along
        o you feel that your        want to go on a transformative          she goes is the order of the day.    unit, 50:50, to take ideas through     BUs. Feeding ideas into the               the way.
        organisation takes too      journey. Are you willing to hire        In the same way that they want a     development and to launch. The         innovation lab was on their annual
        long to deliver new         the right people, create the            million pounds looked after by a     lab brings in a few people on          scorecard, so they had to make            If you’re a leader in an
        solutions and innovation    right culture and focus on              wealth manager; they want their                                                                                       organisation that really wants to
        is slow because of          outcomes and not the process            original investment back plus                                                                                         deliver significant new value, my
        outdated ways of working    of getting there?                       ‘reasonable’ growth.                                                                                                  advice is to focus your energy on
        and a sluggish culture?                                                                                                                                                                   hiring a few smart rebels,
        Have you implemented
        Agile and Design
        Thinking, but not seen a
                                    Setting up an innovation lab,
                                    hiring a head of innovation and
                                    implementing Agile aren’t going
                                                                            In order to do so, they seek to
                                                                            have a management team that
                                                                            runs an efficient, controlled        “Firstly, and most importantly, organisations                                    coalesce them around a mission
                                                                                                                                                                                                  to achieve a big outcome, like
                                                                                                                                                                                                  20% growth in revenue, and be
        transformation in your
        culture or new value
being created?
                                    to do it and here’s why: firstly, and
                                    most importantly, organisations
                                    are full of people that don’t really
                                                                            organisation that doesn’t take too
                                                                            many risks. Hence the culture is
                                                                            necessarily risk averse and          are full of people that don’t really like                                        prepared to give them the space
                                                                                                                                                                                                  to quickly make decisions and to
                                                                                                                                                                                                  sometimes fail. Do that, and the

                                                                                                                 change (that’s not necessarily a bad thing,
                                    like change (that’s not necessarily     focused on optimising what’s                                                                                          right people, culture and new
I run a growth and innovation       a bad thing, but it is a thing!) It     already there and not exploring                                                                                       value will automatically follow. But
consultancy and I can, hand on      starts with owners and                  new products, services, markets                                                                                       ask yourself this; do you truly want

                                                                                                                 but it is a thing!)"
my heart, guarantee that I can      shareholders of established             or ways of working. Most often,                                                                                       to go on that kind of journey or,
help you deliver new value from     businesses who want regular,            people who work in big                                                                                                honestly, do you prefer a little
innovation, but only if you truly   predictable returns. Steady as          organisations don’t want to come                                                                                      more certainty and stability?

                                                                                                                 GLOBAL LEADERS IN FINANCIAL SERVICES AND COMMODITIES TECHNOLOGY RECRUITMENT

                                                               1 8                                                                                                               1 9
THE MOST INFLUENTIAL FINANCIAL
                                                                                                                                                                                         TECHNOLOGY COMPANIES OF 2021

                                                                                                                       “When our employees simultaneously pivoted to working remotely a year ago
                        Tom Cole, Managing
                        Director (UK & Europe),                                                                        at the same time as most of our clients, we used a new business intelligence
                        Abacus Group
                                                                                                                       solution to enhance our remote support model, giving our management team
                                      home orders at the onset of
                                      the pandemic.

                                      For most of our users, the
                                                                          world, and some even have no
                                                                          plan to return to offices anytime
                                                                          soon. We’ve also seen quite a few
                                                                          clients adopt a hybrid model with
                                                                                                                            visibility into key performance indicators in real-time dashboards"
                                      shift to working remote was         employees working on a rotation

S
                                      seamless since our Abacus Cloud     of a few days in the office and a
                                      Platform has always included        few days at home.                    business in a different light and    usability and security will be the       due to our unsurpassed reputation
                                      remote access capabilities. Our                                          found areas of efficiency gains      most in-demand. We’re seeing a           at being able to efficiently onboard
        ince Abacus Group was         client support helpdesk tickets     What’s the biggest change            and optimizations that we might      growing sector of technology that        remote users with the highest
        founded in 2008, we’ve        skyrocketed at the onset of the     we’ve made to support                have otherwise overlooked before     focuses on being able to protect         quality of service.
        seen so much change in        pandemic primarily because          our clients during this              this new way of working. We’ve       end users when they’re not in the
        the financial industry that   most users had never had to work    unprecedented time?                  streamlined processes and hiring,    office. This need was accelerated        We are honoured to be
        we serve but none more        remotely before, so they weren’t    When our employees                   while also exploring new ideas       by the pandemic and we’re seeing         recognized by the Financial
        so than the last year.        as familiar with remote access      simultaneously pivoted to            that we might not have prioritized   firms quickly adopt to a more            Technologist Magazine as one
        Financial firms, especially   options. But once everyone got      working remotely a year ago at       investing in pre-pandemic.           mobile strategy to support their         of the Most Influential Firms in
        hedge funds, were slow to     settled into the new norm and       the same time as most of our                                              workforce. We’re also seeing             Financial Technology for 2021
        adopt cloud technology        realized how seamless working       clients, we used a new business      From a technology standpoint,        a surge in security products to          and look forward to continuing to
        over a decade ago. But,       remotely could be with cloud        intelligence solution to enhance     we focused this past year            protect end users. Balancing             evolve and adapt to the ever-
        now with the COVID-19         technology at their fingertips,     our remote support model, giving     on accelerating bringing to          these two demands – a seamless           changing business needs of
        pandemic upending the         they’ve been confident in the       our management team visibility       market solutions that support        user experience combined with            investment firms.
way we all work, and with the         business continuity, ease of use    into key performance indicators      the new work from home               remote access enterprise-level
health and safety of star traders     and security our Abacus solutions   in real-time dashboards. This        paradigm. This has included          cybersecurity layers – is now the
of utmost concern, financial firms    provide them.                       allowed us to be able to react       fully integrating communication      standard expectation.                    Tom Cole is Managing Director
were some of the first to institute                                       quicker and seamlessly to            tools like Microsoft Teams and                                                – UK & Europe at Abacus
firm-wide work from home              A year on, the majority of our      changes in ticket flow, all while    Cisco Jabber into our signature      Being able to seamlessly and             Group, based out of London.
policies, even before many local      clients are still working from      adapting to a remote workforce.      abacusFlex IT-as-a-Service           quickly onboard new employees            He’s responsible for managing
governments enforced stay at          home in most regions of the         We were forced to also look at our   solution. We also launched new       remotely is more important               all of Abacus’ UK and Europe
                                                                                                               features that provide clients with   than ever now and getting                operations and teams. In this role,
                                                                                                               security capabilities needed         them connected to their firm’s           Tom is focused on strategy, client

REACTING WITH ACCELERATION
                                                                                                               with a new dispersed workforce,      technology network and setup             service, technology and business
                                                                                                               such as Palo Alto GlobalProtect      to work securely from home               development in the UK and
                                                                                                               Always On VPN and a Remote           is paramount. We pivoted and             Europe markets. Prior to Abacus,
                                                                                                               Access Tracking dashboard            streamlined our process for              Tom was CTO at COMAC Capital,
                                                                                                               accessible to our clients within     onboarding new users early on            a multibillion global macro hedge
                                                                                                               their abacusPortal that provides a   in the pandemic and we see this          fund. He led COMAC’s technology
                                                                                                               firm’s management with visibility    as an area that will continue to         strategy, cybersecurity practices

AND ADAPTATION
                                                                                                               into their users and the services    be vital in this coming year with        and group business continuity
                                                                                                               they’re leveraging.                  so many firms continuing to work         planning. Prior to that he held
                                                                                                                                                    from home.                               various technologist roles within
                                                                                                               What key trends do we see                                                     Balyasny Asset Management,
                                                                                                               being the biggest opportunity        Abacus gained new clients at an          Glencore and Publicis Groupe.
                                                                                                               for financial services               unprecedented rate in the UK and         Tom was awarded distinction for
                                                                                                               technology in 2021?                  Europe markets over the past year,       MSc studies from the University
                                                                                                               Solutions that focus on both         despite the strictest lockdowns,         of Liverpool.

                                                                                                               GLOBAL LEADERS IN FINANCIAL SERVICES AND COMMODITIES TECHNOLOGY RECRUITMENT

                                                                2 0                                                                                                          2 1
THE MOST INFLUENTIAL FINANCIAL
                                                                        TECHNOLOGY COMPANIES OF 2021

TRANSFORMING
                                        thousands of people in middle         is set to allow AccessFintech to
                                        and back offices chasing trade        accelerate product-driven growth.
                                        updates (over phone and email),
                                        banks having to reserve precious      It has developed a new CSDR
                                        capital on their balance sheets       solution and is the only service
                                        against incomplete trades, and        provider to have created a single

THE CAPITAL
                                        facing higher risk from open          firm end to end solution for this
                                        positions sitting on their books      important regulatory change, built
                                        for days.                             on top of a live and successful
                                                                              settlements offering, which has
                                        AccessFintech’s technology            minimised fail rates and reduced
                                        platform allows capital market        email traffic by up to 60%. The
                                        participants to share data about      upcoming regulation will become

MARKET SPACE
                                        their trades in whichever format      a central focus for firms in the
                                        best suits them, from Excel           latter half of 2021.
                                        spreadsheets to two-way APIs.
                                        AccessFintech extracts this           Another new launch has been
                                        data, cleans it and imports into      the Cash Payment Affirmation
                                        the cloud so all entities, such as    service. This is a market
                                        banks and buy-side players, can       changing offering, designed
                                        work with each other better. Their    in partnership with Goldman
                                        goal is to be the de-facto industry   Sachs and Blackrock, which
                                        collaboration software.               has seen organisations achieve
                                                                              STP rates of up to 99.5% and
                                        AFT is tapping into a trend, set      releases significant capital
                                        to accelerate this coming year,       for reinvestment by portfolio
                        Roy Saadon,     of a much greater focus on data       managers.
                        CEO and         transparency and collaboration
                                        as a result of pandemic driven        On Loans AFT has developed
                        Co-Founder,     market volatility. In 2020            a solution for the longstanding
                        AccessFintech   AFT supported the market by           manual effort and inefficiency

A
                                        providing immediate platform          in the bank loan space. The
                                        access to multiple organisations      company has brought together
                                        (with the AFT client pool) to allow   a Working Group of participants
       ccessFintech (AFT) was           them to execute a weekend fails       from all stages of the lifecycle
       founded in 2016 by Roy           resolution drive. For example,        from agents, to clients, to auditors
       Saadon and Steve Fazio,          eight organisations were              to develop a comprehensive
       two experienced financial        onboarded in a 48-hour period.        service that tackles five distinct
       market entrepreneurs, to         AFT were then asked to be on          challenges.
       solve the challenges of          standby on two further occasions
       sharing data and                 where such extraordinary              The true value of AFT is
       collaboration across the         measures were being considered        transforming the way capital
       financial ecosystem.             but then not required (e.g. during    markets operations are
                                        the US Presidential election). As     conducted by providing the
         Capital markets players        more of these events emerge,          venue where collaboration and
         are not willing to share       AFT is well placed to offer a         data-sharing occurs. In the
their trading book data on a            unique data and workflow tool for     world of remote work, the value
network basis and do not have           the financial markets to instantly    of cooperating and connecting
a shared format in which to             resolve trading issues.               capital market participants will
share that data. As a result,                                                 continue to increase.
between 3 and 6 percent of all          The powerful network effects will
capital markets trades fail. AFT‘s      be constantly amplified as more
solutions address this significant      organizations became part of
problem, which gives rise to the        the ecosystem and in turn this

GLOBAL LEADERS IN FINANCIAL SERVICES AND COMMODITIES TECHNOLOGY RECRUITMENT

                                              2 3
THE MOST INFLUENTIAL FINANCIAL
                                                                                                                                                                                               TECHNOLOGY COMPANIES OF 2021

TOP TRENDS FOR GPS:                                                                                                  “The trends we have identified here will undoubtedly
                                                                                                                                                                                                      5. The cloud is now part of
                                                                                                                                                                                                      everyday business life
                                                                                                                                                                                                      The COVID-19 crisis and the

                                                                                                                     evolve and new ones will emerge during 2021."
                                                                                                                                                                                                      sudden move to working from
                                                                                                                                                                                                      home in April 2020 (which has
                                                                                                                                                                                                      subsequently continued in almost

WHAT TO WATCH IN 2021
                                                                                                                                                                                                      all geographies) have been a
                                                                                                                                                                                                      salutary reminder of the value of
                                                                                                                                                                                                      the cloud: everyone who is
                                                                                                                     becoming more critical and the          can be easily consumed.                  familiar with using Zoom on the
                                                                                                                     alternative asset market is                                                      cloud or Microsoft Teams
                                                                                                                     searching for a tech upgrade to         4. Back office integration is            understands the need for a
                                                                                                                     address its challenges. In              accelerating as GPs seek to              secure infrastructure that can be
                                                                                                                     particular, the migration of            reduce friction                          accessed remotely. However,
                                                                                                                     managers into adjacent private          The growth in the breadth and            GPs’ experience of the cloud
                                                                                                                     markets is spurring demand for          depth of alternative asset markets       during the pandemic merely
                                                                                                                     technologies that span asset            means GPs need to streamline             confirms that the cloud has
                                                                                                                     classes to deliver instant visibility   operations and improve efficiency.       gained mainstream acceptance
                                                                                                                     of exposures in a specific              There is an increasing need for          in recent years. For the relatively
                                                                                                                     geography or sector across the          continuous access to multi-              few firms that have yet to migrate
                        Yury Shterk,                                                                                 firm, regardless of asset class.        currency and multi-asset general         at least some services to the
                        Chief Product Officer,                                                                       3. Turning data into information
                                                                                                                                                             ledger information, which acts as
                                                                                                                                                             a single source of truth, not least
                                                                                                                                                                                                      cloud, it is no longer a question of
                                                                                                                                                                                                      if, but when.
                        Allvue Systems

A
                                                                                                                     is becoming instrumental to             to meet growing regulatory and
                                                                                                                     future success                          investor reporting requirements          While resiliency is certainly an
                                                                                                                     Alternative asset managers are          (including for detailed financial        important characteristic of the
         llvue Systems maintained     recent IQ-EQ and IFI Global              2. Growth and the COVID-19            drowning in data. They receive it       statement reporting and cash             cloud, the main driver of migration
         close contact with its GP    survey of investors and managers         crisis are prompting                  from multiple internal sources –        management).                             remains cost. By removing the
         and LP clients across the    with assets under management             technological soul-searching          detailing interest payments, for                                                 need to implement and maintain
         private debt, private        totaling $388 billon indicated that      As alternative asset markets          instance – as well as external          To address these challenges,             infrastructure, including costs
         equity, real estate, and     95% believe the private debt             continue to grow, GPs’                sources including investees,            some GPs have deployed                   associated with network
         infrastructure segments      market will continue to grow over        technological needs are               investors, partners, regulators,        standalone systems from multiple         engineers and hardware experts,
         throughout 2020 to           the next three years.                    increasing. In the past, private      rating agencies, FX providers,          vendors for various tasks as their       the cloud is an extremely
         understand their                                                      markets were relatively               execution venues and news and           needs have changed. But as the           attractive proposition when it
         challenges and objectives    The driver for much of this growth       straightforward. For most players,    search providers.                       industry matures and diversifies,        comes to reducing internal
         throughout a turbulent       is the ever-broadening range of          a single spreadsheet could                                                    managing disparate solutions is          overhead. It also reduces
         year which was rocked by     investors participating in the asset     suffice because the scale of          Apart from the costs associated         time consuming and complicated.          complexity and inconvenience as
         the COVID-19 pandemic        class. The market has simply             assets and their complexity was       with data management,                   Instead, GPs need to create a            solution providers deliver
and market dislocation. Drawing       become too large and too                 limited (with loans to a handful of   transparent data is becoming a          frictionless back office that can        administration and support.
on an understanding of their          attractive to ignore. This is creating   companies, for instance) while        differentiator for GPs to               manage the increased complexity
                                                                                                                                                                                                      •••
priorities – and our insights about   momentum among pension funds,            many managers only operated a         demonstrate performance and             of general ledger and investment
broader market developments           which see limited opportunities in       single fund. But as more GPs          risk management, as investors           accounting activity in an                Conclusion
– we present five key trends that     traditional asset classes such as        have begun to invest in a broader     increase allocations to private         integrated way. For most GPs, the        The alternative investment
look set to define the evolution      fixed income given record low            portfolio of alternative asset        debt. Clean, orderly data can also      integration of back-office               space is set to capitalize on its
and growth of the alternative         rates and yields. These investors        classes, they face more               provide more timely information,        activities using technology is not       positive experiences and learn
asset space in 2021.                  are eager to access the superior         complexity in terms of managing       uncover insights that foster better     about cutting headcount,                 from its missteps. Perhaps the
                                      returns and greater diversification      data and systems. While it is         investment decisions, help to           although it can reduce expenses          most important takeaway from
1. Private debt has sailed            available from private debt.             feasible, though inefficient, to      boost IRR, and manage risk. As a        significantly. While back office         the COVID-19 crisis and
through recent challenges and         Moreover, many funds have                manage loans of a similar type to     result, GPs are increasingly            integration does potentially             subsequent market dislocation is
will continue to grow rapidly         tentatively explored the private         a few companies using a               looking for a holistic system that      facilitate the outsourcing of some       the need for greater visibility and
Private debt is one of the fastest    debt market in recent years and          spreadsheet, this approach is not     allows them to input data from          mundane activities to low-cost           flexibility. The trends we have
growing alternative asset classes     are now increasing allocations as        scalable.                             multiple different sources to a         service providers, its ability to free   identified here will undoubtedly
and is expected to continue to        they become more comfortable                                                   single location where a standard        up people for value-added activity       evolve and new ones will emerge
outpace many other segments. A        with the market’s dynamics.              Consequently, technology is           toolkit can be applied so that data     is more important for GPs.               during 2021.

                                                                                                                     GLOBAL LEADERS IN FINANCIAL SERVICES AND COMMODITIES TECHNOLOGY RECRUITMENT

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THE MOST INFLUENTIAL FINANCIAL
                                                                                                                                                                                             TECHNOLOGY COMPANIES OF 2021

                                                                                                                “ALPIMA has world-class institutional clients
                                                                          delivered as a service.                                                                                                more informed decision making
                                                                                                                                                                                                 C. Customisation at scale within a
                                                                          2. How can technology resolve                                                                                          configurable set of rules

                                                                                                                actively using the platform across their
                                                                          these issues?                                                                                                          D. Linking client portfolios to
                                                                          Smart technology really is the                                                                                         Strategic and Tactical Asset
                        By Geoff Langham                                  answer. In a world where many                                                                                          Allocation (SAA and TAA)

                                                                                                                organisations, the majority of which are based in
                                                                          teams in the industry are still                                                                                        E. Acceleration in product design
                        COO, Alpima                                       using 20 or 30-year old systems                                                                                        – by a factor of 10-100x
                                                                          and spreadsheets to create new                                                                                         F. Connecting multiple users

                                                                                                                Europe, with a small number in the US and Asia."
                                                                          products and serve their                                                                                               across different functions on one
                                    B. Customisation A growing            customers, technology has                                                                                              platform delivered as a white
                                    appetite for customisation across     progressed to a point where                                                                                            labelled service
                                    the value chain                       investment managers and their                                                                                          G. Enhanced information and
                                    C. Powerful macro forces              customers are now able to build                                                                                        control of the platform, using our
We talk with Geoff Langham,         Where lower rates are expected        and optimise personalised                                                                                              admin app, ALPIMA Meta which
COO at ALPIMA, about the            to last for longer, meaning lower     portfolios in seconds.                                                                                                 allows authorised users to
changing Investment                 returns                                                                                                                                                      administer the platform, data
Management industry and how         D. Margin compression A               The first step is to capture data     meaning that investment               been crucially lacking in                  feeds, and monitor usage,
technology resolves many of the     seemingly relentless squeezing of     from multiple clients and data        managers are able to improve the      investment management. To do               revealing insightful business
challenges faced by Asset and       margins                               providers via API – across a          way they design products, build       this, we treat each portfolio as a         information
Wealth Management firms.            E. Regulatory forces Which are        universe of securities, funds and     portfolios, run money and serve       digital object that can be                 H. It is adaptive so the client can
                                    driving increased transparency        indices. Once the data has been       customers.                            observed, modified, tested and             build a durable competitive edge
1. What is driving change in        F. More consolidation As firms        captured, managing and storing                                              optimised before it is
Investment Management?              compete for scale                     that data is key – we think that      3. What does ALPIMA do?               implemented, very much like a              5. What is next for ALPIMA?
Strong forces are reshaping                                               applying object-oriented design       We created ALPIMA because for         digital version of an aircraft or a        ALPIMA has world-class
Asset and Wealth Management,        Hindered by legacy systems,           ensures ultimate analytical           many years we saw a persistent        building before it is built. We call       institutional clients actively using
which are forcing providers to      fragmented processes and high         flexibility. From that point          gap in the market in front office     this Object-Oriented Investing™.           the platform across their
re-think their businesses, and to   fixed costs, many incumbents are      real-time analytics are possible by   technology. We launched the           If you know what you want to do            organisations, the majority of
shift from a product model to a     struggling to respond. This poses     applying machine learning,            platform in 2017 after 2.5 years      and data, such as ESG, is                  which are based in Europe, with a
service model.                      a substantial business risk – and     artificial intelligence and time-     of R&D.                               available, it can be done with             small number in the US and Asia.
                                    for some this is existential.         tested modelling, then focussing                                            ALPIMA.                                    Last year was very successful as
These forces include:                                                     on the UX, by making analytical       ALPIMA offers a SaaS platform for                                                the business continued to scale,
A. Digital Like many industries,    This being said, thanks to            tools easy to use and offering        investment management and             4. What results can be                     adding a new branch in Zurich
customers are demanding more        technology, the industry is rapidly   powerful visualisation tools.         product design.                       achieved?                                  and growing company headcount
digital engagement, accessing       evolving for the better. The future                                                                               There are many benefits to using           by 55% (despite the obvious
real time information - where and   of investing is exciting –            This modern and flexible              Our clients can create optimised      our modern technology platform,            challenges presented by Covid).
when they want it                   transparent, personalised, and        technology is available right now,    portfolios, and analyse them in       but perhaps the key is that
                                                                                                                great detail across the past,         customers are provided with a              Looking forward, our roadmap is
                                                                                                                present and future, bringing what     cutting-edge and highly                    to grow geographically and add

ALL CHANGE IN INVESTMENT
                                                                                                                is essentially a concept – a          customised service. We expect              new types of clients.
                                                                                                                portfolio, a strategy – to life and   that this improved customer
                                                                                                                understand it like never before       service will ultimately drive growth       Geographically, we aim to deepen
                                                                                                                - we call this Investment             in the investment management               our presence in EMEA, grow
                                                                                                                Intelligence™. This results in a      industry.                                  North America and go global after
                                                                                                                much quicker product creation                                                    that. We started working with a
                                                                                                                cycle across Research,                Other benefits include:                    large client in the US last year and

MANAGEMENT
                                                                                                                Production and Sales. It improves     A. Clients are able to design,             we plan to launch more widely in
                                                                                                                decision making and helps to          build, test, optimise and                  North America in the second half
                                                                                                                improve client engagement.            implement personalised, dynamic            of this year. We are also
                                                                                                                Visualisation is a powerful thing.    portfolios in seconds (not days,           expanding our client range to
                                                                                                                                                      weeks or months)                           include Banks, Pension Funds and
                                                                                                                ALPIMA allows our clients to offer    B. Increased transparency, where           Asset Owners. Last but not least,
                                                                                                                customisation at scale –              instant visualisation of the drivers       we look forward to bringing more
                                                                                                                something which up until now, has     of risk and performance enable             highly motivated talent to the firm.

                                                                                                                GLOBAL LEADERS IN FINANCIAL SERVICES AND COMMODITIES TECHNOLOGY RECRUITMENT

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