BlockChain, Future Bank and Data Management

08/06/2017 07:29 am ET
Copyright Swiss Banking Advisory

Until today I have not heard of one financial institution that has started to re-think their culture around data. This is a continuously increasing risk factor of a future bank and it should start to be avoided now...

The benefit of using an online knowledge system is that once we have started to search for a particular subject such as the trading of derivatives, all documentation related to the topic trading of complex financial instruments will be displayed, giving us the possibility to navigate through all related documentation, such as risks in trading, setting up of a structured product, using modern applications to hedge positions in a portfolio with derivative products, control the limits for trading derivatives, reporting of derivative products, pricing of a derivative trade, understanding the Monte Carlo simulation method for derivative instruments, calculation of VaR for a derivative, separation of MtM or accrued interest calculation for PnL reporting, calculation of the outstanding position and more. By choosing one subject such as pricing, we will access a range of other related subjects, such as Black Scholes calculations, PAR curves for calculating positions, zero rates for calculating PnL and more.

...Because of accessing many other information, I had access to many other areas and was reading and listening to all sorts of information, such as the value of interpersonal skills for project managers, Six Sigma, CMMI, Lean, Kaizen, CMMI, hidden risks in investment banking, the most expensive art of our time, many innovative solutions available on the market and the dilemma of innovation, brain functionality and its ability, changing habits, practical life advice, kids education, IT-related security issues and biographies of many interesting experts of our time such as Steve Jobs...

Cloud computing will become the center of data management, and even archiving and data sharing within teams, project members or departments will be performed by cloud computing in the future, as today’s island way of data storage and the creation of several copies will disappear. This will be a benefit, especially for the management of security around sensitive data, such as client data.

Source: Banks of the Future, by Ella Thuiner; Published by Springer, © 2015

Swiss Banking Advisory’s Community Our next conference in London is on September 21st and in Zurich on September 29th. The topic is Blockchain, Challenges and Investments. If you have an innovative solution that you would like to share, we invite you to join our community and allow us to introduce you to our group.

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