13 March 2017
Technology Innovation Series
By Cliff Moyce
As part of Nasdaq's focus on FinTech and innovation, MarketInsite is featuring insights from senior thought leaders both internally and externally, to give their perspective on the future and current state of technology innovation. Here’s what Cliff Moyce, Global Head of the Finance Practice at DataArt, had to say.
“In my professional life I am inspired by tools that make building and using IT systems more intuitive and closer to how we think and act naturally; and, by technologies that allow us to strip out as many non-value adding activities as possible (the true aim of automation).
Though they have been around for years, it was great to see three technologies make huge advances in 2016 in financial services and capital markets. They are: distributed ledger technologies such as Blockchain; Machine Learning / AI; and, Cloud. All three offer significant efficiencies in business processing, with Blockchain able to strip out up to 99% of the manual and semi-manual effort in processes such as settlements; ML / AI able to make accurate, automated and rapid decisions on huge data sets, including unstructured data; that that people and traditional systems cannot handle well; and, Cloud providing a method for resolving legacy issues that bedevil the industry.
DataArt exists to make things better for its clients and their customers. Eg helping firms realise business strategies and achieve outcomes with new products and services; or, resolving issues with legacy platforms and architectures… We always challenge a design or approach to implementation to ensure that they are the best they possibly can be, and to ensure that they take advantage of new paradigms, models and tools…Innovation improves productivity by distilling things to their essence. Helping clients separate essence from effort, and symptoms from causes is a perennial challenge, but one that we enjoy.”