THE MOST INFLUENTIAL FINANCIAL TECHNOLOGY COMPANIES OF 2021 - The Financial Technologist - Harrington Starr
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
The Financial Technologist ISSUE 1 .. 2021 THE MOST INFLUENTIAL FINANCIAL TECHNOLOGY COMPANIES OF 2021
The Financial Technologist | Issue 1 | 2021 Contents 04 Introduction by Toby Babb, 40 Managing Cost and Sustainability Why global transformation 90 Providing solutions that grow and adapt CEO of The Harrington Starr Group for HPC workloads in financial markets 65 begins with the digital Stephane Tyc Quincy Data and McKay Brothers 06 Rob Elder Bulk Matthew Cheung ipushpull MEET THE JUDGES 66 How 2020 rekindled our drive for innovation 91 A new era of technology enabled Rupert Bull ESG 43 Foreign Exchange- The Perfect Storm Anvar Karimson Kepler Cheuvreux innovation for capital markets Guy Weaver Praetrua Ventures Keith Hill Caplin Systems Mike Powell Rapid Addition Colin Slight The Realization Group 68 A single solution for providing 15 44 How Microservices can end-to-end TPP Checking 94 Challenges of the new compliance normal THE LIST IN FULL improve performance now Brendan Jones Konsentus Oliver Bradford Shield FC Peter Lawry Chronicle Software 18 F E AT U R E S 70 LedgerEdge predicts the 96 Why showing your workings is The Challenges that organisation 47 Navigating Distributed Compliance future of corporate bond trading essential for trusted AI andKYC face when innovating in Today’s Institutional Landscape Ian Chicken LedgerEdge Hugo Chamberlain SmartKYC Simon Sear Studio 44 Leo Papadopolous Cloud9 Technologies 20 71 Has FinTech been revolutionized 98 Achieving Growth in an Exceptional Year Reacting with acceleration and 48 Understanding why Financial or is the revolution still to come? Matt Smith SteelEye adaptation to a remote workforce Wellbeing starts with Open Banking David Mercer LMAX Group Tom Cole Abacus Group Freddy Kelly Credit Kudos 99 The Cloud vs Co-Lo: How 23 73 Exploring the evolution towards the Tortoise can Beat the Hare Transforming the Capital Marketing Space 50 Duco’s predictions for data in 2021 the true strategic partnership Steve Toland TransFICC Roy Saadon AccessFintech Christian Nentwich Duco Keith O’Brien LPA 24 100 Crafting transparent investment Allvue Systems’ Top trends for GPS in 2021 51 How to tackle the complexity 75 4 AML Predictions and Trends Georgia Stewart, Tumelo Tumelo Yury Shterk Allvue Systems of digital relationships that will shape FinTech in 2021 26 Charlie Henderson Feedstock Guðmundur Kristjánsson Lucinity 102 Revolutionising due diligence The changing Investment Management Industry Cindy van Niekirk Umazi Geoff Langham Alpima 52 FintechOS on why FinTech should be personal 77 The most successful ways 29 Teodor Blidarus FintechOS to harness the power of data 104 Driving revenue growth for brokers Making finance accessible for David Cooney MahiFX Ahmed Heikal Vela the LGBT+ Community 54 How FlexTrade is building the Billie Simmons Daylight future of trading technology 78 Exploring the symbiotic relationship 105 How to leverage UMR compliance 30 Andy Mahoney and Valeria Dejong FlexTrade between compliance and tech to achieve genuine transformation The challenges for tech Innovation in Post-Trade Mark Ellis MAP FinTech Wassal Dammak Vermeg Alastair Rutherford Ascendant Strategy 56 The importance of resilience in global payments 32 The Fnality Team 80 Minna Technologies role in creating 107 Financial wellbeing and Open Banking payments Market Recovery- How Firms the perfect storm in FinTech Stefano Vaccino Yapily are addressing the new reality 57 How to make your firm future ready Joakim Sjoblom Minna Technologies Arjun Jayaram Baton Systems Michael Mueller Form3 108 Survival lies inthe demands of the consumer 34 82 The role of perspective and Philip Belamant Zilch The growth of Assets in 2021 and 58 The transition from Analogue potential in maximizing tech the need for central clearing solutions to digital with Exchange 4.0 Avtar Singh Sehra Nivaura 111 About Harrington Starr Tore Klevenberg Baymarkets Hirander Misra GMEX Group and SECDEX 35 84 Staying competitive during 112 Contact us Four compliance trends that will define 60 The importance of embracing platform thinking a period of hypergrowth the Financial Services Industry in 2021 Milena Kannen IG Stefan Merz PPRO Erkin Adylov Behavox 38 61 Utilising FinTech to promote financial inclusion 86 Optimising for performance Data is becoming more complex - Andrew Rabbit Incuto Leigh Walters TRG Screen Are you keeping up? Mark Montgomery big xyt 63 Understanding the accelerating 88 Be part of the economic recovery engine demand for trade plant analytics Zitah McMillan Predictive Black Clive Posselt Instrumentix 0 2 0 3
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 0 4 0 5
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 0 6 0 7
$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, ESG 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 8 9
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 300 companies set to dominate the headlines in the year ahead
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 AXE Trading 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 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 Chevereux 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 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 2 4 2 5
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 2 6 2 7
You can also read