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Articles by Patricia Tessier
Collaboration Between Finastra and S&P Global Market Intelligence Aims to Deliver Significant Efficiencies in Corporate and Syndicated Lending
Finastra today announced a collaboration with S&P Global Market Intelligence focused on the corporate and syndicated lending market. The companies have agreed to collaborate and integrate their solutions for corporate and syndicated lending, with the aim of delivering significant benefits to common clients.
Réaliste et pragmatique la CAQ? Le cas du Pont Pierre-Laporte
François Legault se plait, de façon parfois paternaliste, à répondre aux propositions des oppositions que celles-ci ne sont pas réalistes ou pragmatiques et que la CAQ, c’est un parti réaliste et pragmatique. C’est généralement une façon peu élégante pour lui de ne pas discuter des enjeux qui ne l’intéressent pas. Mais, à la CAQ, sont-ils vraiment réalistes et pragmatiques? Prenons l’exemple de la saga toute récente du Pont Pierre-Laporte.
Blockchain Corda Settler, Ripple and SWIFT a mariage a trois?
My last blog was about the IBM World Wire, a blockchain based platform for global payments. Another competitor in the blockchain payments world I have written about regularly is Ripple. Both are thereby targeting centralised payments messages network SWIFT. IBM and Ripple however are not the only players in the blockchain payments world. Late last year R3 launched its new Corda Settler platform using Ripple’s XRP. But here it comes.
Automation Is Becoming a Business Imperative: Don't Wait Until It's Too Late
This is a reprint from Exela's recent article in Entrepenuer Magazine by Suresh Yannamani, President of Exela Technologies Machines haven’t yet supplanted human workers en masse, but at the World Economic Forum’s 2019 meeting in Davos, Switzerland, corporate executives revealed they’re facing massive pressure from shareholders and boards to meet short-term profit demands. Automation has been the response across the board.
The new age of investment
At the risk of sounding like Bob Dylan, the times are a changing, and we must try to keep up. The age of passive investment, investment managers and large scale investment funds making decisions for the people is slowly coming to an end. With the international reach of private brokers, such as Hargreaves Lansdown, allowing people to have incredible control over the type of investments they are trying to make.
Distressed Loan Settlement: New Thinking and Technology for Inventory Management and Upstream Review
Mike Kerrigan, partner, Hunton Andrews Kurth LLP, and manager, Magis Analytics LLC, is coauthor of this article. In an earlier post, I mentioned three rules for driving change in the loan market: Rule #1: What can be standardized must be standardized. Rule #2: What has been standardized must be automated. Rule #3: Go back to Rule #1, and then to Rule #2. Then, I explained how those rules can be applied to “demystify” the LSTA Purchase and Sale Agreement for Distressed Trades (PSA).
Low Price? High Cost: Why it Pays to Balance Price and Value in Payment Solutions
The payment services world is more competitive than ever. With numerous providers competing to serve thousands of businesses, things can get more than a little hectic as payments companies try to carve out some space for themselves in a crowded market. A lot of the time, this translates to providers ruthlessly cutting their prices relative to their competitors, trying to tempt merchants with the failsafe method of simply being cheaper than everyone else.
The future for blockchain is bright and it’s integrated
April seems to have been a big month so far for Digital Asset. Only a week after their announcement regarding their open sourcing of the platform, they have now published a press release stating that they will be also be integrating DAML with VMWare’s Software as a Service (SaaS) Platform, and they have also hinted that they may also integrate with other platforms.
Deja Vu All Over Again - Financial Lessons from the Brumadinho and Mariana Dam Disasters
There is a Youtube video on the collapse and causes of the collapse of the Mariana Dam disaster in 2015, specifically using satellite imagery to assess key elements before, during and after the Fundão Dam collapse. The Fundão Dam was a tailings dam, built to accommodate the waste resulting from the extraction of iron ore from the extensive Germano mine, a mine owned and operated jointly by Vale SA and BHP Billiton.
Managing Risks Effectively with Energy Trading Risk Management Syst...
How Straight-Through Processing Reduces Costs? Energy Trading Risk Management in today’s volatile markets is challenging and demands a robust, seamless, end-to-end integration of various processes for commodity trading activities from the inception point of the trade to post-settlement. Any particular point in the life cycle of these trading activities can impact an institutions’ overall balance sheet, credit and trading limits, and the existing regulatory framework.
IBM Blockchain World Wire: growing competition in payments
Last year October I wrote a blog about IBM’s World Wire project. In that month they announced to come to the market with a global blockchain network for cross-border payments and foreign exchange for regulated financial firms using digital assets. But at that time it was not yet ready for production. A month ago the firm has announced that World Wire has been sent into limited production.
Amazon, Project Kuiper and Space Race 2
As Amazon’s mothership arrives (on paper), the current systems existing in the space suddenly start looking smaller by a far distance. SpaceX had similar designs, but they were doing it under the guise of Mars colonization. With SpaceX completing a feat of landing its multiple rockets back on three different landing zones (one even non-stationary), the technology demonstration shows that space is a domain where private corporations are gaining fast ground towards the state-owned programs.
Opening Up the Walled Gardens of Domestic Payments
Domestic Payment Interoperability – A Fading Prospect Cross-border interoperability of domestic real-time payments systems was a hot topic a few years ago, but seems to have gone off the boil – possibly due to the reality of bedding in new real-time payments systems and the challenges of domestic adoption – from the USA, to Europe, to Asia to Australia - putting the subject on the backburner.
Trade Finance needs a Network to network
A rather obvious statement don’t you think? A silly aphorism; perhaps akin to “a trussed and bagged ferret troubleth no man”, (thank you to the late Christopher Hitchens for that witticism). The fact is, Global Trade indeed needs a network in order to network. And herein lies the riddle of Trade. Global Trade and Trade Finance are probably the most collaborative and interdependent commercial activities on the planet with possibly the Foreign Exchange markets with equal interdependency.
Make or Buy: Could smart procurement offer member value creation in superannuation?
Australia remains one of a relatively small number of countries with compulsory superannuation; the measures put in place by the Australian Government, backed by tax benefits, to ensure citizens save to provide an income stream in retirement. It’s a hyper competitive landscape, with funds seeking a competitive advantage, both in terms of their bottom line, and the value or experience they offer their members.
Is Commission Free Trading Now the New Normal?
Investment brokers are typically solicited when clients need to buy or sell stocks, bonds, exchange traded funds (ETFs), mutual funds and the like. Brokers are licensed agents from investment companies. The primary purpose of a broker is to invest funds on behalf of the client, including the buying and selling of financial instruments. A broker, or a brokerage firm, generates revenue through the services provided to clients.
The necessary -?- evil -?- called sales
Headline in Flemish financial newspaper "De Tijd" last Thursday : "Gents Teamleader neemt gas terug in buitenlandse expansie". Translated : Ghent-based Teamleader slows down international expansion". Teamleader, so-called specialist in sme-software, shuts down its sales offices in Paris, Berlin, Madrid and Milan, because "too expensive". Founder and CEO Jeroen De Wit states "client support already returned to Ghent in 2017, marketing followed in 2018".
Greek salad recipe: how to change people habits in 3 years
Let’s make a Greek salad: first throw in the heavy financial crisis with culmination in 2015, then add the cruel limit of 60 euros per day per card to take the cash out of ATMs, cut the possibility for outgoing money transfer, pore in a little bit of anxiety and panic, add bulks of the bank card acceptance infrastructure upgrade, and finally add a tablespoon of e-commerce. Sprinkle with a little bit of ‘I got money, I can’t get my cash, but the cards work fine’ on top.
Theranos, Lean Start Ups and How to Alienate Customers
Start ups are hard. When my mind prematurely wanders off to success I have to stop myself and focus on my product and service. I do know what my values are and what I hope to achieve and I am committed to making the invoice processing system in the UK paperless and smooth. I know my goods and service inside and out, I have a solid grasp of my market and I know a few emerging industry secrets.
Blockchain and disruption in the financial world: Will banks survive?
The world of banking as we know for many years is in a fundamental transformation process, triggered by new technologies. The most important is blockchain that is said to fundamentally change the way financial transactions are handled today.
What can four innovative fintech startups and their investors tell us about the future?
Fintech is a sector that thrives only through innovation. It’s in constant flux; changing and evolving all the time. While we can see spikes of activity and the general trajectory, it’s hard to predict what lies ahead just by taking a high-level view.
What is holding back commercial eID services?
The recent article[1] about the UK governments attempts to facilitate eID for government services being handed to the private sector made me think what is holding the eID market back? With mobile phone and integration of connected devices technologies improving the security and user experience for digital services. The use of biometric sensors in devices require companies to relying on and to trust the device and the associated biometric infrastructure.
The Supplier is Key to the Electronic Invoicing Movement
My mum made me tidy the house regularly. (And I mean tidy.) One of my early initiations was my briefing on how to wash up. I was instructed - very carefully and precisely - on which pot, plate or pan to begin with, which implement to use, how to dry, which towel to use and which cupboard to store them in. All to be done in batches of ten. I was 7. A few years ago she took over the backroom office of a landscaping company. Like most owners the proprietor knew his product inside and out.
The Suppler is Key to the Electronic Invoicing Movement
My mum made me tidy the house regularly. (And I mean tidy.) One of my early initiations was my briefing on how to wash up. I was instructed - very carefully and precisely - on which pot, plate or pan to begin with, which implement to use, how to dry, which towel to use and which cupboard to store them in. All to be done in batches of ten. I was 7. A few years ago she took over the backroom office of a landscaping company. Like most owners the proprietor knew his product inside and out.
Your supply chain is a big risk...
How many suppliers to your company are critical? I don’t mean important – I mean business-critical. I mean if they failed tomorrow, you would have big problems-critical. As business leaders, we tend to be measured on growth: revenue growth; profit growth; value growth. But to deliver growth, we have to appropriately manage the risks in our business and few risks are greater than the failure of a critical supplier.
Your supply chain may be a big risk...
How many suppliers to your company are critical? I don’t mean important – I mean business-critical. I mean if they failed tomorrow, you would have big problems-critical. As business leaders, we tend to be measured on growth: revenue growth; profit growth; value growth. But to deliver growth, we have to appropriately manage the risks in our business and few risks are greater than the failure of a critical supplier.
Distressed Loan Settlement: The PSA solution
In an earlier article I suggested that we can finally address the challenge of extremely long trade settlement times in the distressed loan market (T+66 is the current average) by applying three rules for driving technology and process change. Rule #1: What can be standardized must be standardized. Rule #2: What has been standardized must be automated. Rule #3: Go back to Rule #1, and then to Rule #2.
Distressed Loan Settlement: The PSA Solution
By Patricia Tessier, Managing Director at IHS Markit In an earlier article I suggested that we can finally address the challenge of extremely long trade settlement times in the distressed loan market (T+66 is the current average) by applying three rules for driving technology and process change. Rule #1: What can be standardized must be standardized. Rule #2: What has been standardized must be automated. Rule #3: Go back to Rule #1, and then to Rule #2.
Supporting Fintechs in engaging with financial institutions
Towards the end of 2018, the British Standards Institution (BSI) published a set of guidelines, advising Fintechs how best to engage with financial institutions with the goal of delivering a successful outcome for all: banks, Fintechs and end customers. The report includes recommendations and common pitfalls to avoid. It’s a useful reference guide for Fintechs starting on their journey.
How to Leverage Technology to Boost the Performance of Your Company’s Financial Services
Financial services and modern tech go hand in hand, and that should be obvious to anyone who’s been paying close attention to either of the two fields. There’s a lot to gain from tightly integrating modern technological solutions into the workflow of your organization if your goal is to improve performance and customer satisfaction, and it’s in your best interest to explore that field in as much depth as possible.
Distressed Loan Settlement: A Time for Change
Settling LSTA distressed loan trades in the secondary market is complex and time-consuming. Unlike the par loan market, distressed features additional requirements for inventory management, due diligence and documentation. As a result, the average settlement time for distressed loans in 2018 was more than four times greater (T+67) than that of par/near par loans (T+16). This is unsustainable for a market seeking to provide necessary liquidity and attract new participants.
Distressed Loan Settlement: A Time for Change
By Patricia Tessier, Managing Director, IHS Markit Settling LSTA distressed loan trades in the secondary market is complex and time-consuming. Unlike the par loan market, distressed features additional requirements for inventory management, due diligence and documentation. As a result, the average settlement time for distressed loans in 2018 was more than four times greater (T+67) than that of par/near par loans (T+16).
Five Customer Experience Trends That Will Lead The Banking Transformation in 2019 and Beyond
It can be a major challenge to adapt a financial company to the fast-paced digital world. For some, it’s not only about success in the future but a question of existence. At the same time, there are hugely successful companies that are achieving extraordinary results with minimal resources. What’s their secret? After analyzing their approach, we’ve identified five brilliant trends that lead the transition to digital and make it extremely successful.
Five ways fintech is disrupting the financial services industry
Fintech is the buzzword within the banking industry. It refers to the use of technology across all financial services functions. For instance, the simple task of replacing paper-based processes with software and applications is an example of fintech at work. Previously, fintech was mainly used for back-office functions by leveraging software to help bank personnel handle accounts, execute transactions, manage customer databases, etc. Today, however, fintech has transformed how banks operate.
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