Largely thanks to its innovative new solution for on- and off-exchange reporting, pan-European exchange BATS Chi-X Europe has seen its market share balloon in recent months. But, aware of the dangers of complacency, chief operating officer David Howson says that the firm is just as focused on further innovation as on growth.
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Computers have reached such a level of sophistication that they can now outperform their human counterparts at some tasks, a fact that has not gone unnoticed in the banking community. But, while smart machines are increasingly being utilised in customer service and data analysis capacities, advocates of these new technologies maintain that they are designed to complement rather than replace the traditional workforce.
Banks are being charged by governments with preventing financial crime. Given the cost and complexity of this task, the only way they can effectively manage this new role is by utilising new third-party databases and information exchanges.
New rules based on the old banking system are at odds with a newly globalised world, in which innovation takes precedent over regulation, and technology and society are the principle axes of change.
Customers trust banks with their money, but should they trust banks with their data?
The damage that a fraud investigation can wreak on a bank is already well documented, but what measures can banks take to protect themselves against such incidents and minimise the repercussions if a fraudster does slip through the net?
Talk of banking channels is passé and misses the point. Going digital is about connecting everything, not carving it up.
Once regarded as national treasures, over the past few years many exchanges have been evolving into cross-border operations, focused on capturing larger market shares. Following this wave of consolidation and collaboration, however, it still remains to be seen whether bigger really means better.
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