The increasing automation and digitization of markets are made up of many market tech trends, which are closely scrutinized by US regulators. Two recent events are worth noting for the emerging priorities being identified and what it means for changing business models.
At a recent fintech forum hosted by the Securities and Exchange Commission, industry experts discussed how different organizations are preparing for innovation and possible disruption, said Jennifer Peve, DTCC’s head of Solutions Business Development and Fintech Strategy, who was a panelist at the event. There were a lot of interesting points, she noted, on what kind of steps financial institutions and market infrastructures can take to protect themselves, or ready themselves for a change in business model to help get them through the next three to five years.
When it comes to meeting consumer demands for better service, some of the answer is about tapping into existing technologies, such as APIs, artificial intelligence technologies, improving payments, and looking at mobile applications, for examples. Of the most disruptive elements facing the financial industry, however, cryptoassets and blockchain were high on the agenda.