William Essex
William Essex

FinTech and its role in the future-proofing of FX

Where do we invest next? For FX-market participants working towards digital transformation, one of the simplest challenges is also the greatest: technology doesn’t stop evolving. The flagship investment of today might be the legacy system of the day after tomorrow. William Essex discusses the future-proofing of FX.

In the global FX market today, solutions don’t disrupt. Failed interfaces disrupt. Incompatible cross-border regulatory requirements disrupt. Effectively unknowable end-clients – if they’re allowed to become clients – disrupt. Human error still disrupts, and systems can fail to communicate effectively with each other. Fraud happens, and compliance failures can still be expensive. But “disruption” – the word itself – is a feature of yesterday’s IT industry. Today, the focus is on harmony within the ecosystem. Inter-operative but functionally discrete systems aren’t islands; they’re part of the whole. Security So where to invest? Security is, as always, the immediate first answer to that question – thus, compliance, KYC, AML – and security is all the more glaringly obvious as a potential “pain point” in the globally distributed, multi-faceted, vast market that is FX. Security-oriented solutions are available, of...continued

Exclusive Content

The full article is only available to current subscribers. Click here to sign in or subscribe by clicking here