Farah Saleh

The transformation of the banks is happening now — and we are right in the middle of it. 🚀 📲 Nowadays, the aim of every bank should be to design the banking app as an interaction driver and to generate proactive occasions for interaction. Alexander Jäger (COO Gini) and Ulrich Coenen (CDO Atruvia) talked about this, among other things, in an exciting article in bank und market (Fritz Knapp Verlag). 👉 The entire publication can be found here: https://loom.ly/GJEh7TI. #gini #atruvia #transformation

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ARTA TechFin Corporation Limited is revolutionizing the financial landscape by bridging traditional finance with distributed ledger technology (DLT). 𝗛𝗲𝗿𝗲 𝗮𝗿𝗲 𝘁𝗵𝗲 𝗸𝗲𝘆 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲𝗶𝗿 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝘃𝗲 𝗷𝗼𝘂𝗿𝗻𝗲𝘆: 🚀 𝗛𝘆𝗯𝗿𝗶𝗱 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗣𝗹𝗮𝘁𝗳𝗼𝗿𝗺: Arta is a regulated hybrid financial platform integrating traditional finance with DLT. They are developing regulated products in programmable payments and investments, including tokenized investments in global government bonds and fund shares. 💡 𝗔𝘁𝗼𝗺𝗶𝗰 𝗦𝗲𝘁𝘁𝗹𝗲𝗺𝗲𝗻𝘁 𝗣𝗶𝗹𝗼𝘁: Arta is piloting atomic trading and settlement of tokenized investments using central bank digital currency (CBDC) or stablecoin with smart contracts. This innovation aims to enhance efficiency and reduce costs in financial transactions. 🏆 𝗥𝗲𝗰𝗼𝗴𝗻𝗶𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗖𝗼𝗹𝗹𝗮𝗯𝗼𝗿𝗮𝘁𝗶𝗼𝗻: Arta received the Best Technology Award in the CBDC track of the Global Fast-Track Competition by InvestHK and HKMA. They are participating in the HKMA’s e-HKD Pilot Programme, exploring the atomic settlement of fund orders using e-HKD against tokenized funds. 📈 𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝘃𝗲 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀: Arta’s proof-of-concept (PoC) for the e-HKD Pilot Programme demonstrated programmable payment for atomic settlement via smart contracts. This solution offers retail investors higher interest incomes, improved financial inclusion, and reduced operational overhead. 📝 𝗨𝘀𝗲𝗿 𝗙𝗲𝗲𝗱𝗯𝗮𝗰𝗸: User acceptance testing with over 10 global financial institutions and 100+ retail clients showed positive feedback. Financial institutions appreciated the time-efficient, cost-effective process, reduced counterparty risks, and improved operational transparency. Retail users valued access to competitive yields even with small balances and short-term investments. 🔍 𝗖𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲𝘀 𝗮𝗻𝗱 𝗙𝘂𝘁𝘂𝗿𝗲 𝗦𝘁𝗲𝗽𝘀: Arta identified challenges such as transparency, handling stranded balances, and regulatory updates for AML and KYC. They continue to develop DLT payment solutions in collaboration with Chainlink Labs and are researching verifiable credentials for enhanced regulatory compliance. Arta TechFin is at the forefront of integrating blockchain with traditional finance, paving the way for a more efficient and inclusive financial system. Source: https://lnkd.in/diFkC5QP Stay ahead and informed at 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗕𝘆𝘁𝗲𝘀: https://lnkd.in/ev-WMFzG. Make sure you sign up to get your weekly analysis. Your repost is greatly appreciated. Thank you! #Blockchain #DLT #TokenizedInvestments #CBDC #FinancialInnovation #FinTech #ArtaTechFin #HKMA #eHKD #SmartContracts

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💡The Singapore FinTech Festival 2024 is baaaaack! 🔦 Spotlight will be on Artificial Intelligence and Quantum Technology. Sopnendu Mohanty / 漠汉帝 / 模範帝 / सोपनेंदु / ସୋପ୍ନେନ୍ଦୁ , Chief FinTech Officer of the Monetary Authority of Singapore (MAS) and Chairman of Elevandi Board said, “The financial services sector is at a critical inflection point, with AI and Quantum Computing poised to revolutionise the global financial ecosystem. SFF 2024 will seek to align technology, innovation, and regulation so that these transformative technologies are deployed with strategic foresight, collaboration, and adaptability to unlock new opportunities for economic and industry growth and resilience. Harmonising global FinTech regulations that support innovation, fostering cross-border collaboration on payments and credit, and ensuring a secure, inclusive, and sustainable financial ecosystem powered by responsible adoption of AI and Quantum Technologies will be the primary focus of SFF 2024.” “SFF will also feature the following highlights: ➡️ Invitation-only Dialogues and Signature Side Events such as the Insights Forum™ will convene 1,500 senior policymakers, top industry executives, and investors for leadership dialogues and collaboration discussions. ➡️ This year, the Global FinTech Hackcelerator, organised by MAS and in partnership with Elevandi is looking for innovative solutions to address problem statements centred on Improving Financial Health. ➡️ Blockchain Guardians Programme : a new skills-based learning initiative will commence on 2 September 2024. ➡️ Five Thematic Zones – Technology Zone, 🍀 ESG Zone, Regulation Zone, Founders & Investors Zone, and Talent Zone – where attendees can participate in dialogues, workshops, and explore an international showcase of the latest FinTech solutions. ❤️ MAS will also be introducing founder- and investor-focused mentorship sessions, masterclasses such as The Art of Storytelling, a spotlight on 🙋‍♀️women entrepreneurs, mental health and wellness workshops, and an alumni meet-up for past participants. ➡️SFF MeetUp , a new networking initiative, is expected to facilitate 20,000 meetings at the Festival.” 📒Registrations are open at https://lnkd.in/gtKbFp3E Read the full release on https://lnkd.in/gAk8GrsR #Fintech #AI #quantum #Talent #ESG

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Boston Consulting Group (BCG) - The AI Maturity Matrix: Which Economies Are Ready for AI? Source: https://lnkd.in/gMAJaBch #ai #maturity #matrix #economy #readiness #adoption #future #overview #singapore #china #us #uk #canada Credits: Christian Schwaerzler Miguel Carrasco Christopher Daniel Brooke Cashman Bollyky Yoshihisa Niwa Aparna Bharadwaj Dr. Akram Awad Richard Sargeant Sanjay Nawandhar Svetlana Kostikova Highlights: Out of 73 economies assessed, only five—Canada, Mainland China, Singapore, the UK, and the US— are categorized as AI pioneers. They have reached a high level of readiness by blending elements like investment and infrastructure, turning disruption into a competitive edge. They are in a unique position to guide the world forward in innovation, talent development, and AI regulation and ethics. Several economies with high AI readiness are just behind the pace of AI pioneers. While this group of AI contenders includes established economies, it also features emerging ones like India, Saudi Arabia, and the UAE that are using policy and targeted investments to adopt AI on an advanced level. As these economies strengthen their innovation capabilities, they will grow more competitive and influential in the AI space. Most economies in the study are not ready for AI disruption. More than 70% score below the halfway mark in categories like ecosystem participation, skills, and R&D. Policymakers must act now to adjust to a world of AI and boost resiliency, productivity, jobs, modernization, and competitiveness. What can governments do to position themselves for advantage in the AI-dominated future? We propose a set of initiatives for each archetype across three themes: • Enabling AI: establishing the foundational elements for AI emergents • Accelerating AI: customizing the ASPIRE levers for AI contenders and AI practitioners • Amplifying AI: driving the global AI agenda for AI pioneers

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#AIGovernance A detailed report from Singapore: Model AI Governance Framework for Generative AI -- shared by Luiza Jarovsky with her summary. Thank you. We are seeing a global trend toward fostering a trusted AI ecosystem. #AI #AIpolicy #AIregulation #GenAI #artificialintelligence #global #trust

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Next week, banking professionals from across the region will gather in Jakarta for the Temenos Regional Forum ASEAN, where key trends and opportunities in the market will be uncovered, and discussions will focus on how banks can leverage technological innovations to stay ahead in the rapidly evolving digital landscape. Indonesia, with its rich diversity—home to over 300 ethnic groups spread across 17,000 islands—and its strategic importance as Southeast Asia’s largest economy, is an ideal location for this discussion. As the world’s fourth most populous country and the tenth largest economy by purchasing power parity, Indonesia exemplifies the dynamism of the ASEAN region, where a youthful and increasingly digital-savvy population is driving robust economic growth. The rise of a more affluent, digitally native consumer base in Southeast Asia has sparked a wave of banking innovation, positioning the region at the forefront of customer-centric digital solutions, including mobile apps and QR-code-based payments. Hearing from the visionary banks leading this transformation at the forum will be a highlight. Throughout the event, top banking executives and industry experts will explore global and regional trends shaping the banking landscape. From the challenges posed by geopolitical tensions and global trade fragmentation to the opportunities presented by emerging technologies like AI, quantum computing, and cloud computing, the discussions promise to be both timely and forward-looking. Temenos product experts are set to unveil groundbreaking initiatives that will empower banks to seize new opportunities like never before. The Leap program is a game-changer, accelerating core modernization by harnessing the power of AI to simplify and revolutionize traditionally complex processes such as migration and testing. But that’s just the beginning—Temenos Enterprise Services will be showcased, offering cutting-edge SaaS solutions that allow banks to immediately leverage pre-packaged, pre-configured and end-to-end capabilities. And in a true leap forward, our new Responsible Generative AI solutions will transform productivity by delivering fast, unique insights and tailored products, all generated through simple natural language queries. This is innovation at its finest, and it’s set to redefine the future of banking. We are also pleased to welcome several certified partners, including RedHat, Deloitte, AWS, Bahwan Cybertek, Systems Ltd, Tech Mahindra, Abris, Microsoft, Uniken, and Aspire Systems, who will share their expertise on crucial topics like hybrid cloud and cybersecurity. Our gratitude goes to these partners for their support as sponsors of the event. This promises to be an exciting and insightful event. If registration has not yet been completed, there’s still time—click here to secure a spot. https://lnkd.in/g2ugMj4N

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In collaboration with #Swisscom, we have created a series of articles to address the typical #cloud myths in the #banking context. We are trying to explain these together with three articles and give you simple and common cloud wordings to help you understand the cloud. In today's article, Tanyel Tunçer explains the current market trend and the different cloud models that are available. https://lnkd.in/dz8jJbiw

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📉 Market Liquidity Challenges for SGX Companies 📉 In recent years, liquidity has emerged as a critical concern for companies listed on the Singapore Exchange (SGX). We’ve observed a significant reduction—nearly one-third—in market liquidity for SMEs, which has adversely affected valuations and deterred investors. SMEs have been particularly hard hit, with many investors gravitating towards larger, seemingly more stable entities to mitigate risk. And 2024 does not seem to promise much change. The total traded volume in SGD has decreased by at least 3.75%. Are you interested in knowing more? Check our 2023 liquidity report here: https://lnkd.in/dJxvdGAQ 🚀 How DeltaBlock Can Help: At DeltaBlock, we are committed to helping you enhance liquidity levels and stabilize your company’s valuation. In these challenging times, our strategic support aims to diminish investor risk and navigate the complexities of market fluctuations effectively.

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#OpenBanking mandates could threaten traditional banks – or catalyze powerful new advantages. Antoine Khadige, Nader Haddad and Marwan Nadda published a new report to help incumbent banks seize this opportunity. Retain market share, create new revenue streams and forge deeper customer relationships with: “Open banking: A monetization playbook for banks”.

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Using #Blockchain More Broadly Across Asia: A Path to Digital Transformation By Kevin Varend - 凯文, COO & Founder, J3D.AI (Jedi).AI Labs, Estonia 🔴 Blockchain technology is rapidly becoming a game-changer in Asia, offering the potential to fundamentally change industries. At the #Horasis Asia Meeting, leaders from various sectors, including business, government, and academia, gathered to discuss how blockchain can be leveraged to unlock new business models, streamline supply chains, and drive financial inclusion. This article delves into the key insights shared during the session, exploring blockchain’s transformative power to reshape industries, drive innovation, and bridge the digital divide across Asia. 🔴 Blockchain technology has the potential to radically transform economies across Asia, driving financial inclusion, enhancing governance, and revolutionizing supply chains. However, for blockchain to fully realize its potential, it will require collaborative efforts from governments, businesses, and academic institutions. By fostering a clear regulatory environment, promoting education and awareness, and building trust in the technology, blockchain can become a powerful tool for creating a more transparent, efficient, and inclusive economy. Read the full article: https://lnkd.in/ePkTQmQf https://lnkd.in/ePkTQmQf

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The recent go-live of the Avaloq Core Platform at A1 Bank AG is a testament to the flexibility of the Avaloq Core Platform as well as our Plug & Bank service, great teamwork and our innovative mindset. This project is Synpulse’s fastest ever implementation of the Avaloq Core Platform, which the bank has deployed on the cloud in a software as a service (SaaS) model. This achievement marks a milestone in the bank’s digital transformation journey, leveraging Synpulse’s proprietary integration layer and open-source components. Synpulse’s Plug & Bank service gives A1 Bank the flexibility to expand into any business area as a licensed online bank. Read more in our press release in English below, and German (linked in the comment section). André H. Burger Martin Büchi Michael Wilhelm #digitaltransformation #bankingasaservice #plugandbank‍‍‍‍‍‍‍‍‍‍‍‍

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Digital transformation is reshaping the banking sector.  When a prominent Swiss private bank faced challenges with outdated Partner and Customer Relationship Management systems (CRM), the impact on productivity and user satisfaction was clear. Outdated systems costing them time and productivity, upgrading their PRM and CRM systems was a chance to do more than just modernize—it was a chance to innovate. With a tailored, user-friendly platform, they gained: - Simplified workflows that saved time and boosted productivity.  - Error reduction through smarter, more intuitive systems.  - Seamless integration for faster adoption across teams. Transformation isn’t just about replacing systems—it’s about optimizing operations, improving experiences, and enabling innovation. Your transformation could be next. Discover how we tackle complex challenges with strategic, user-focused solutions: https://lnkd.in/ewk7eW6T #DigitalTransformation #DigitalAdoption #CRM #PRM #CBTW #ProjectManagement #ChangeManagement #BankingSolution #Banking #PrivateBanking

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More than five years after Hong Kong regulators first announced they would allow digital banks, the online lenders are performing modestly at best – and in some cases, not well at all. The argument that introducing digital banks would somehow alter the competitive landscape of banking in the city and put heavy pressure on incumbent lenders seems increasingly unrealistic. After all, incumbent heavyweights like HSBC and Standard Chartered have long been investing heavily in digitization. Yet both the banks and regulators have been reluctant to acknowledge underlying problems. In mid-October, the Hong Kong Monetary Authority (HKMA) announced that it would change the name of Hong Kong’s online lenders to “licensed digital bank” to increase the public’s confidence in them. The HKMA noted that the Chinese term for “virtual” (the previous name for the banks) can mean “fictional.” To be sure, the term “virtual bank” is odd, and “digital bank” is better. However, it is unlikely that the terminology is a serious problem here. The problem is that there are too many offshoots of big banks and tech companies offering similar products, without any distinct value proposition. Among the eight digital banks, we believe that two stand out. First, there is WeLab Bank, which is the only of the eight online lenders to begin as a startup backed by venture capital. WeLab Bank’s management told Hong Kong media in late June that it expects to be profitable in 2025. As of June, its customer deposits had tripled year-on-year to HK$6 billion. The other Hong Kong digital bank that seems to be doing reasonably well is Standard Chartered-backed Mox, which has been working to cultivate a niche in wealth management for the masses. Traditionally, private banking in Hong Kong has targeted high-net worth individuals. In August, Mox started a cryptocurrency exchange-traded fund (ETF). Mox is the first digital bank in Hong Kong to offer transactions in spot bitcoin and ether ETFs. However, times are tougher for many of Hong Kong’s other online lenders, and we would not be surprised to see several eventually call it quits either through consolidation or simply shutting down. The HKMA tacitly acknowledged the problematic situation in August when it published a review explaining why it would not issue digital banking licenses. "The already keen competition in the retail banking sector will be further intensified if more new market participants are introduced," the HKMA said in its review. "Moreover, with virtual banks yet to achieve profitability, introducing new players to the market is unlikely to be conducive to a healthy development of the sector." #hongkong #fintech #digitalbanking #financialservices https://hubs.li/Q02WnRG80

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Spinning off a digital bank presents challenges and many incumbents fail in their endeavor due to legacy technology, outdated business models, traditional mindsets, and core cultural incompatibility, a blog post by Gazi Yar Mohammed https://lnkd.in/gr68ezt3 #fintech #banking #digitalbanking

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𝗣𝗼𝘄𝗲𝗿𝗶𝗻𝗴 𝗜𝗻𝘀𝘁𝗮𝗻𝘁 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝘄𝗶𝘁𝗵 𝗔𝗲𝗿𝗼𝗻: 𝗔 𝗟𝗼𝗼𝗸 𝗮𝘁 𝗦𝗜𝗫'𝘀 𝗝𝗼𝘂𝗿𝗻𝗲𝘆 𝘄𝗶𝘁𝗵 𝗔𝗲𝗿𝗼𝗻 🔬 Predictable latency and resilience are key in today's financial landscape, nowhere more so than in a central bank scenario. Stefan Ferstl, Senior Architect at SIX 𝗦𝘄𝗶𝘀𝘀 𝗜𝗻𝘁𝗲𝗿𝗯𝗮𝗻𝗸 𝗖𝗹𝗲𝗮𝗿𝗶𝗻𝗴, gives insights into Switzerland’s central payment system (SIC5), based on #Aeron Cluster. 🇨🇭 Settlements are done in real-time, irrevocably, and final for each payment. 𝗧𝗵𝗲 𝗿𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁 𝗳𝗼𝗿 𝗜𝗻𝘀𝘁𝗮𝗻𝘁 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀: 📌 Achieve sub-200 ms guaranteed processing with zero data loss for a 24/7 operation 📌 Handle 35 million payments per day, peaks of ~2000 payments/s over 1h with room to scale 𝗧𝗵𝗲 𝗔𝗲𝗿𝗼𝗻 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻 - A completely new system design featuring Aeron Cluster: 󠀭➖ Processing Cluster: Handling core settlement logic for swift and accurate transactions. ➖ Processing Gateway: Managing secure communication, transaction validation, and authorization 𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀: ➖ Performance requirements were reached without any tuning or optimizations. ➖ Geographically distributed Cluster ensures redundancy. ️ ➖ Daily snapshots maintain account balances. Interested in learning more about Aeron and real-time payments? 👉 https://lnkd.in/eYYnmyis Share your thoughts in the comments! 👇 #SIC5 #InstantPayments #Payments #FinTech #Cluster #OSS #OpenSource

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According to the report, the ongoing digitalization of finance is characterized by the emergence and growing use of innovative technologies across various aspects of the banking value chain -with Bank for International Settlements – BIS https://lnkd.in/gUFERPhi #fintech #banking #digitaltransformation #AI

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