what is technology investment banking

In the past decades, Corporate Investment Banking has undergone its most important and impactful transformation through Technology. investment banking co-head Dan Dees said the firm's dealmakers are looking for opportunities in all areas of technology as companies emerge from. Oliver Wyman is collaborating with Amazon Web Services (AWS) to help financial services institutions assess and measure their technology investment.

What is technology investment banking -

Technology Trends in Investment Banking for 2021-2022

The relative lack of technology in investment banking is a puzzler.

In 2020, global technology M&A generated $634 billion, so it’s not as though groundbreaking technology isn’t on the radar of investment banks. Perhaps it’s that technology is less a disruptor and more a catalyst for investment bankers.

The following are just some of the ways in which investment bankers are putting technology to work for them these days:

1. Artificial Technology

Artificial technology in itself represents an existential threat to investment bankers’ work. The more advanced AI becomes, the more it becomes capable of replacing the routine processes currently carried out by humans.

In dealmaking, this means deal origination, company search, due diligence (financial, legal and more) and even change management could all be partly taken over by artificial intelligence.

AI is increasingly being used by investment banks for their research - both at the marketing and due diligence levels. Artificial intelligence has the capability to pull up dozens of relevant reports, filings, and other documents within seconds for analysts to scrutinize.

Projections, valuations, and Monte Carlo simulations are also now being implemented without the man hours that quantitative analysts once had to put in thanks to advances in AI

2. Direct Listing Technology

As we stated in a previous article, preparing for Initial Public Offerings is a drain on time on cash for most companies. A series of companies, from Spotify to Palantir, have opted for direct listings in recent years, removing bankers from the process almost entirely.

The explosion in popularity of SPACs over the past five years also points to a financial community which is looking for easier alternatives to the traditional IPO.

Add to this a proposal by the NYSE to lower the barriers for direct listings which was approved by the SEC in August 2020, a lot more direct listings can be expected in the coming years.

This, in turn is likely to lead to a host of new platforms which help small and medium-sized companies through the direct listing process. We can reasonably expect a range of off-the-shelf technology solutions for direct listings, saving companies millions in the process.

3. Natural Language Programming

Sometimes mixed together with Artificial Intelligence, Natural Language Programming (NLP) uses elements of the former and analyses the interactions between computers and the human language.

The strength of NLP is that it converts unstructured data, and converts it into structured, measurable data. If the role of an investment analyst could be described in a sentence, it would be ‘convert unstructured data into structured, measurable data.’

The applications here are huge. Think of the verbiage involved in annual reports, investor calls, and regulator statements. NLP has the potential to crunch all of this into digestible information.

And then there’s due diligence: Due diligence teams that were previously swamped by information provided by the selling team can now leverage NLP technology to process information faster than ever before, adding huge efficiency to an often time sapping activity.

4. Virtual Data Rooms

As DealRoom pointed out before, a rising amount of data (something that deals of all sizes can now count on) requires more space for that data.

And not just space, but somewhere that deal participants can share that data that’s relevant to them, draw the attention of others to it, communicate what needs to be said, and generally make the deal process both more effective and more efficient.

This is the role of the virtual data room (VDR), DealRooms own area of expertise. Our virtual data rooms empower deal makers with better productivity, enhanced compliance and security, lower cost deal making and the assurance that nothing important will get lost.

Naturally, we highly recommend that anyone taking part in the dealmaking process takes advantage of this particular piece of technology.

5. Blockchain

The first blockchain technology was invented 30 years ago in 1991, but it’s really only in the past half decade that investment banks have sat up and paid attention to the value that it can add for them.

Currently, the effects are being strongly felt on the trading side of investment banking, where reconciliation processes and systems can be costly and regulatory reporting requirements can involve significant amounts of mutualized data.

A report by Accenture looked at the impact of Blockchain technology on investment banking and found that adoption of Blockchain by investment banks could lead to:

  • 30% cost savings in central finance reporting
  • 50% cost savings in centralized operations
  • 30% cost savings on compliance
  • 50% cost savings on business operations

6. Mobile Apps

Investment banking is no different from any other industry in that it is embracing mobile. Most of the blue chip investment banks now offer a range of services to their clientele through mobile apps. All this became possible due to benefits of flutter app development that drastically reduce time on cross-platform apps production.

These services might include, for example, the latest market intelligence, real-time market data, interactive analyst and industry reports, and client personal dashboards that allow users to interact with their representative directly.

As more and more APIs are developed - for example, Xero has opened access to its platform to over 200 APIs - the greater the range of possibilities opened by these investment banking apps.

The advantages here are mutual. On one side, small fintech startups benefit from having their name attached with a credible financial institution. On the other hand, investment banks can ensure that they’re on trend with the latest technological developments.

Conclusion

Technology does not mean the end of investment banking. However, it does mean evolution. A range of tools falling into the boxes outlined above have the potential to empower investment bankers everywhere.

An industry which prides itself on the smartest people using the best available data to generate value creating advice cannot justify doing so without leveraging technology.

On that basis, there is every reason to believe that the technology outlined above may just be the tip of the iceberg.

data rooms

Product updated ·

September 22, 2021

·4 min read

Источник: https://dealroom.net/blog/how-technology-is-changing-investment-banking

A Bright Guide to: IT & Technology in Investment Banking

London is the financial centre of the world (according to the Global Financial Centres Index) and therefore its professionals and technology are quite simply the best in the business. Nanosecond delays in communications lose banks business and one tiny bug can down a market and knock millions off prices. If you want to work in an industry with real-world tangible results, this is your sector. Read on for more.

What is it?

Graduates in Banking Technology will work to either develop software that the bank uses for its business and transactions, or they’ll be focusing on the hardware. 

Why is it used?

Technology is fundamental to the bank and financial industry. Famously, a $300 million cable was laid across the Atlantic simply to shave off five milliseconds between New York and London. It’s an arms race for speed and complexity.

If you want to stay ahead of the game, see these useful sources that you can use.

Why is it a good career?

Technologists are highly in demand within the financial sector, and they’re rewarded accordingly. It’s a career which will constantly provide you with challenges and test your limits. What’s more, the training will be top-notch, meaning that you either have a very prestigious career ahead of you in Banking, or can take that knowledge down the line to another sector or your own business.

Find out who are the leading graduate employers in the Tech sector.

What types of roles are there?

There's a wealth of different roles to choose from in this sector, but here's a few that are most popular among graduates...

  • Programmers: you'll have responsibility for writing and testing individual programmes that can shape a company's given strategy and future growth.
  • Software Engineers: you'll research and develop computer software and software systems for clients - software designers have a similar role too.
  • Product Manager: product managers work with the team to develop new products and bring them to market, for example: apps, websites or games.
  • IT User Support Technicians: also known as help desk support, you'll solve faults and problems as they occur and advise clients to maximise the use of software features. 

Discover the other types of graduate roles in the IT and software development sector. 

Who would enjoy it and what skills do you need?

First and foremost a graduate who loves technology should consider this career. A passion for finance isn’t so necessary, no one’s expecting you to be an economist, but you should have some interest in what effect your actions will have on the financial world. A graduate who loves fast pace and pressure will thrive in this career, and it will also suit a graduate with global ambitions. Some of the top skills needed to excel in this sector include...

Read more about the top skills you need in the technology sector and how to improve them.

How to impress on an application

It’s a good idea to have a think about whether you see yourself involved with software or hardware as the best way to stand out is to already start garnering skills for your chosen area. You should choose relevant modules at university, and spend time discovering what tools the employer uses, so you can try something similar in your free time.

Finally, a true stand-out candidate will prove they can cope with pressure and quick changes. Highlight times you’ve had to work to tight deadlines successfully, and show you have volunteered to take on extra work in group presentations in order to obtain a great result. Read our guide to ways to stand out in your technology application.

Where you can go to learn more

Bright Network's career path guide just for technology IT and software development is the place to go for everything you need to kick-start your journey into this sector. From salary expectations, technology interview tips to understanding tech jargon - we have it all and much more!

Discover Technology IT & software development graduate jobs

If you're ready to take the first leap, use Bright Network's and browse graduate jobs in technology IT and software development to get you started.

Browse graduate jobs

 


Next:
Top skills to excel in the Technology sector

Источник: https://www.brightnetwork.co.uk/career-path-guides/technology-it-software-development/bright-guide-it-technology-investment-banking/

Fintech and Banks: How Can the Banking Industry Respond to the Threat of Disruption?

Executive Summary

Banks Can Play the Fintech Game Too

Fintech, shortened from financial technology, is assumed to be a modern movement, yet the use of technology to assist financial services is by no means a recent phenomenon. Financial services is an industry that introduced credit cards in the 1950s, internet banking in the 1990s and since the turn of the millennium, contactless payment technology. Yet, fintech’s place in the public conscience has really taken off in the past three years:

Chart 1: Google Trends "Interest over Time" Results for the Search String "Fintech"

The takeoff of this term has come from startups—actors not within the inner circle of financial services, taking a more prominent role within the ecosystem. Three core trends have led to this emergence:

  • Technology: Financial services traditionally was an industry that required fixed assets (for example, branches) to scale, acting as a barrier to entry to newcomers. Technological advancements now allow upstarts to run complex operations virtually. For example, neobanks operate purely on technological infrastructure. UK-based Revolut has amassed 1.5 million customers (of which 350,000 are active daily) without any kind of live customer-facing function.

  • Customers: In the aftermath of the Financial Crisis of 2008 and various other scandals, customers are demanding more from their banking services. Technology now empowers consumers to scrutinize their providers more heavily and upstarts are harnessing it to provide cleaner and more effective customer service, free from the shackles of legacy technology.

  • Regulation: Increased regulatory oversight on banks post-2008 is estimated to cost the six largest US institutions ~$70 billion per year. Citigroup alone employs 30,000 within its compliance division. Aside from complying with regulations, restrictions on lending have both increased the fully-loaded borrowing costs to consumers and diminished banks’ ability to offer it. This has allowed startups who, because they are not de facto banks (and thus under less oversight), step in and offer compelling alternatives.

The narrative that the fintech landscape suggests is that startups are using technology to disrupt incumbent banks. Yet, there is no reason to suggest that banks are facing their own Kodak or Blockbuster Video moment. They still remain widely used, profitable, and cash-rich businesses. What this article will address, though, is how they can respond better to this “fintech vs banks” movement as, in my opinion, their response so far has been suboptimal.

Fintech 2.0

So far, fintech startups have not looked at the widespread disruption of all financial services. McKinsey analysis of a sample of startup data shows that 62% of startups are tackling the retail banking segment, with only 11% focused on large corporate banking offerings. Payments is the most popular area to usurp and lending is the most lucrative area of banking by revenue being targeted:

Figure 1: Product and Customer Focus for a Sample of 350 Fintech Startups

The response by banks right now to fintech disruption is critical due to the current stage of the nascent industry’s development. Fintech startups are broadly focused on the concept of unbundling banks, offering one type of product/service and concentrating on doing it VERY well.

Innovation thus far has been largely driven on the front-end within these specialized offerings, mainly through improving customer-facing facets of financial services. Some examples of how this is being done are:

  • Better service: A traditional bank largely ties a customer in by offering them a range of services that make them sticky, through increased switching costs. Without this luxury, specialized fintech companies follow a mantra of earning trust through better customer service and referral-based client acquisition. 90% of fintech companies cite enhanced customer experience as key to their competitive advantage.
  • Better branding: With employees from non-traditional banking backgrounds adding an unbiased perspective, the fintech industry is refreshing the branding of the legacy services that it is trying to upend. Modern marketing tools like gamification are making mundane tasks like budgeting appear exciting and more palatable to consumers.
  • Cheaper prices: Having a leaner virtual operation, more flexibility through not being regulated as a deposit-gathering institution, and cash from venture capital allows fintech startups to attract customers with competitive pricing.

Fintech in the Back-End of Financial Services

Bringing in new customers will allow a fintech firm to validate its product, receive feedback, and buy time in lieu of the second paradigm: improving the back-end of financial services. The back-end of finance, the “rails” of the industry, consists of the established infrastructure that banks use to interact and transact with each other, such as clearing (NSCC), payment (ACH), and messaging (SWIFT) systems. Widespread movements to disrupt these norms have not emerged, although the potential of new technological applications such as blockchain technology within these areas is enormous. A significant event did occur here in 2017, when ClearBank became the first new clearing bank to open in the UK in for 250 years. This will give it license to build and offer new, modern rails solutions to stakeholders of the financial services world.

Behind the better customer service and beautiful apps, the back-end of a fintech startup largely follows the same processes of a bank. When you make a payment through Venmo, get a loan through SoFi, or invest in Betterment, you are not going through a “new” financial system. These firms rent and utilize the same legacy infrastructure that banks use. They work wonders to make the system appear better to consumers, papering over cracks and bureacracy, sometimes with audacious claims like Transferwise’s peer-to-peer FX model—an almost impossible feat to really achieve in the mismatched world of cross-border payments. Startups’ front-end driven business model presents two existential threats to its fintech ecosystem:

  1. Their costs to use the rails will always be higher than the incumbents, as they are renting them.

  2. Their lights can be turned off at a whim as they are conduit middlemen within the service.

For that, until fintech can move to fintech 2.0 and create its own rails, it will have a huge strategic risk and banks will have time to respond. To ascend within the financial services industry, fintech startups will need to forge a new technologically-led back-end for the industry. A continuation of their tech-led front-end and a rented process-led back-end, designed generations ago, will ultimately result in sustained margin compression and high operational risks.

Creating new banking back-end processes will be difficult, due to format adoption consensus topics that will arise (think Blu-ray and HD-DVD) and involvement that regulators will play. But reaching this and having a seat at the table will at least allow startups to operate on a level playing field and mitigate the existential threats that hang over them. Until that point, they may remain on the fringe, merely papering over the cracks of a creaking financial services system.

In light of the current situation of fintech businesses, I will now switch the attention to banks and how they can respond to fintech technology in a better way. Their responses so far have erred more towards Kodak than Koninklijke Philips, which sold its music business in the 1990s in anticipation of the MP3 revolution.

1. Fight or Flight

The figure below shows a framework by MIT Sloan that categorizes responses to disruptive innovation, two factors affect the incumbent’s response, motivation, and ability:

figure 2: MIT Sloan Disruptive technology Response Matrix

Based on current actions, banks sit in the top left quadrant. They have displayed low motivation despite their high ability to respond to fintech. They have the wealth and staff numbers to tackle the disruptive potential of fintech startups, but their responses have been either dismissive or passive. Regarding the former, not a week goes by without a financial services chief scoffing at Bitcoin or robo investing. In terms of being passive, banks have mostly engaged with fintech through soft-touch accelerators or direct equity investing which, in its purity, is a form of outsourced innovation.

In my view, if a bank really wants to respond to the fintech movement constructively, they need to increase their motivation and either fight or flight.

Fight

By fight, I am referring to ripping up the norms of the industry and trying something completely different. The rails of banking are old and confusing; manual and institutionalized processes that were built up in the pre-internet age have formed around them and become the status quo. These have increased the prices and bureaucracy that consumers face. Even now, only 7% of credit products in banks can be handled digitally from end to end.

One advantage that banks hold over fintech startups is that they know the keys to these rails through historical processs knowledge. Improving them will provide banks with efficiency gains that can be passed through to consumers via better pricing. A better service will also win transaction rents from fintech startups, who will use the service. Considering that upstarts are following a mentality of “unbundling” the bank, it’s reasonable to suggest that they would be content to rent a newer form of infrastructure, so long as it’s malleable, transparent, fast and provides good value.

With their vast financial resources and technological prowess, this is achievable for banks. Although it’s a risky move, firstly for the cost and secondly for the “prisoner’s dilemma” aspect of going against peers and trying something different. If they do not participate in this change, someone else will and the industry will eventually move to new rails.

Flight

Before they went full-service and became conglomerates with investment, commercial and retail arms, banks were good at what they did. Sound credit practices grew from branch managers granting mortgages to local customers that they knew and saw at regular occurrences.

A contrarian response to fintech, but one that is worth consideration, is that banks acknowledge the inevitability of the unbundling of financial services and retreat back to their roots—using their infrastructure to be “enablers” of financial services, such as custodians for deposits, and also applying their scale to revert to the form of human interaction which is being shunned by fintech. One example of this focus is Metro Bank, a new UK bank that opened in 2010 with a simple portfolio of services and the first new bank in 100 years to offer branch infrastructure. It has since IPOed and opened 41 branches.

Retreating from the empire-building of conglomerate banking is a hard pill to swallow. If the unbundling of financial services does succeed, conglomerates will represent bloated generalists in the system. Spinning off consumer banks and the return of investment bankers back to the boutique model will afford each entity the time to focus on what they do best and survive through specialization.

2. Reasses the Goals of Investing in Fintech Startups

I referred earlier to the outsourced innovation aspect of financial services’ current response to fintech; 63% of them have set up accelerators or startup venture funds. US banks alone have invested a staggering $3.6 billion in 56 different fintech startups. Conversely, only 7% of banks have done the hardest job of setting up their own fintech R&D offshoot to create proprietary solutions:

Chart 2: How Banks Are Currently Responding to the Fintech Movement, and Table 1: Fintech Startup Investments by Sector for US Banks

Some could call investing in the enemy a Machiavellian touch of genius, but it could also be called overly-passive. For all the wealth and resources that banks have, to be relying on fledgling startups to drive the innovation of their industry strikes me as misguided. Likewise, accelerators are easy to set up, but as data shows, have varying degrees of success. Despite the PR karma and confirmation bias of “being involved” through running a fintech accelerator, operating it with an internally-lead syllabus could skew the insight the startups receive, compared to an independent program.

More Collaborative Equity Investing in Fintech Startups

**The end-game of banks investing in startups is also confusing. If it comes out well, there will be a one-off financial windfall, but presumably one would also infer that the disruption faced by the bank has now scaled. Acquiring the invested companies also results in integration difficulties and the zero-sum game of cannibalizing existing offerings via the startups’ own. The incentive to be involved and keep a finger on the pulse also runs the gambit of alienating other investors and distracting the founders’ unfettered direction.

Taking equity stakes in startups should be more of a collaborative exercise for banks. One of the core value-adds that a corporate investor provides, over say traditional VCs, is that they have a sandbox of clients and activities that are potential customers of the startup. Instead of investing with a view to perhaps aquire the startup at a later date and hoard it for itself, bank investors should open up their own client roster to the startup. Such iterative tests will allow for the startup to validate itself and for the bank to provide a value differentiator to clients, while demonstrating internally what industry innovation really looks like.

Banks should also be more innovative with their capital and start upshot fintech ventures, labs completely separate from the main operation. This could be in the form of spun off independent groups, capitalized with equity and with no internal transfer pricing or involvement from the parent, staffed either with capable internal staff or external hires who receive “founding stock”. As the only shareholder, the banks will have control through the board, which can correctly steer the company through independent directors and the founding team’s motivation. Marcus by Goldman Sachs shows an interesting application of an “independent” offshoot formed inside a big bank, in the space of two years it has collected $20bn of deposits and underwritten $3bn of loans and is now expanding internationally.

3. Change the Cost Culture of Cross-Subsidization

A focal moment in banking is the yearly budgeting process, in terms of defining revenue targets and, equally, costs that will be apportioned to divisions. Everything from rent to the flowers in reception needs to be shared out. While egalitarian cost accounting methods bring transparency to this process, continually rising costs place more pressure on short-term goals of reaching yearly targets at the expense of long-term planning. Cost increases arrive all the time—Brexit alone is estimated to increase bank costs by 4%.

Cross-subsidization is evident in products too, whereby some products have a higher return on investment than others for strategic reasons. There is a reason why student bank accounts come with large overdrafts and free concert tickets—it’s because banks want to attract new customers who, ten years down the line, will be purchasing houses with lucrative long-term mortgages.

Banks operate in vertical silos where each team performs specific functions and, if a deal requires multiple services, multiple teams are involved. Because each team has its own cost structures and profit targets, they each require their “piece of the pie”. A 2017 leak received by the Guardian of a Banco Santander report demonstrates this for money transfer, where three teams in Santander combined to earn €585 million in annual revenue from the service. When compared to the transparent and cheaper fees from Transferwise, it shows a stark contrast:

Chart 3: Leaked Banco Santander Data Showing Its Money Transfer Fees Versus Fintech Equivalents

For large banking operations, you would expect cost economies of scale to kick in and synergies to coexist between teams, I would argue that this is not the case. The nuanced nature of banking means that uniform rollouts of bank-wide programs, such as the use of specific software, or even graduate training programs that take a “one size fits all” approach, may not be suitable for teams in their specific needs. Likewise, the siloed nature of budgets and targets means that synergies that sound good on paper often don’t transpire in reality.

Resolving this issue is complex but critical towards empowering bank teams to think with a long-term mentality, a luxury provided to fintech startups via venture financing. Because banking teams have one-year budgets with high-cost hurdles, they are often fighting fires to reach the targets and any longer-term planning is a secondary concern.

To rectify this, banks must look at their budgeting and cost-sharing process and take a more ruthless approach over an egalitarian one. True core functions, such as treasury, must remain shared by all teams, but other central functions should be opt-in/out as to whether specific revenue-generating teams cover a share of their costs. Instead of pro-rata sharing of costs based on a share of notional traded or headcount, costs should also be allocated taking into account the effort and complexity required for certain activities. Zero-based budgeting would also prevent cost-creep and wastage from the age-old process of superfluous spending in the final months of the year to ensure that budgets aren’t reduced.

Longer term budgeting would also reward teams for sustained growth and innovation should be encouraged though allowing teams to allocate their own funding to R&D fintech initiatives.

4. Align Compensation to Important Emerging Skill Areas

In 2007, almost 40% of MBA graduates from top US schools were entering the finance industry. These numbers have now shrunk to below 30% and the tech industry is poised to become the most popular sectoral choice. Various banking scandals have contributed to banks losing their veneer and, despite still being a very well-paid industry, some of the larger technology companies now pay more to graduates:

Chart 4: First-year Engineering/Management Graduate Salaries for Tech Firms Outstrip Financial Services

Stock options are regularly offered within banking compensation, but it can be argued that stock options in the tech industry offer greater potential upside. For example, Amazon has a price-earnings ratio of 256, 11 times higher than that of Goldman Sachs.

Targeted wage increases and a more compelling bonus plan could quickly rectify this. In addition, decentralized teams and longer-term budgeting may help to stem the qualitative reasons for talented staff leaving for the intellectual rigours of a tech company.

Away from headline figures of graduates and star traders, banks also need to look at how the importance of certain staff roles has shifted inside the current environment. As mentioned, technology has always played a key role in banking and banks have very competent resources in this regard. Yet, in a tech company, coding and development skills are lauded and staff with these roles play pivotal parts in business design. Banks, on the other hand, often see technology as a horizontal operation, there to support all teams agnostically. These teams also tend to not have physical proximity with revenue generating functions, seen from the popularity of hubs in offshore locations, from Budapest to Bangalore.

To foster innovation better, revenue generating teams should integrate critical support functions into their front-office operation. Core banking is essentially a commodity service; what separates the wheat from the chaff is the strength of qualitative aspects (deal-making ability, reputation, and connections) and technology (speed of execution, software employed, and settlement reliability). Rewarding those who assist the latter with more variable compensation tied to team performance will incentivize those employees to devise innovative changes and also increase the attraction of remaining in banking.

What Will the Future of Banking Look Like?

The movement of unbundling the bank, which follows the ethos of using division of labor to specialize in doing certain tasks well, is a lesson for the future for incumbent banks. Full-service banks are siloed machines that function by performing set tasks within divided units. Over the years, these have added up to be both rigid and expensive to the end user, which has inspired the fintech revolution to innovate around creating solutions to needs. PWC illustrates the mentality change needed by banks well through the following infographic:

Figure 3: Fintech and Banks: The Future Operational Structure of a Bank

In my opinion, in the future, there will be two types of large banks: One will be simple but effective traditional banking units that provide consumers and business with vanilla services for spending and borrowing/lending. The second will come in the form of a holding company that controls investments in a number of independent firms offering the unbundled variants of banking that fintech is espousing.

As a holding company, these investments within each entity will be as going concerns, with no terminal pressure to exit. This kind of liberation will allow each unit under the umbrella to operate freely within their own cost, technological, and cultural constraints. For the owners of the holding company, they will retain the exposure to a “banking conglomerate” but in a far different manifestation and coexistence of fintech and banks to what we see in current times.

Understanding the basics

The financial services industry plays an intermediary role in the the world economy, helping consumers, corporates, and governments transact. A broad range of businesses serve this sector, ranging from banks to credit card companies.

Financial services is divided into five high level sectors: banking, borrowing, lending, investment, and advisory services. Banking consists of the storage and means of transacting money for products and services.

Fintech is the application of technology to assist with the provision of financial services. In modern times, this has largely consisted of delivering service and price improvements through using scalable technology to reduce the cost of running a financial services operation.

A fintech company can apply to traditional industry players like banks or to new startups. It typically eschews large fixed asset infrastructure and focuses on delivery of a single product or service in a specialized manner.

A financial technologist works within the financial services sector and and applies scalable technology to existing processes. The role combines skills gained from classical financial theory and business models with deep knowledge of technology, such as coding or big-data processes.

Источник: https://www.toptal.com/finance/investment-banking-freelancer/fintech-and-banks

MINNEAPOLIS, October 26, 2021--(BUSINESS WIRE)--Piper Sandler Companies (NYSE: PIPR), a leading investment bank, is pleased to announce the addition of Matthew Ochsner as a managing director within the firm’s technology investment banking group. He will be focused on internet technology and will be based in the firm’s newly opened Austin office.

Ochsner brings over 18 years of operational and investment banking experience within the internet technology sector. Prior to joining Piper Sandler, Ochsner led the Amazon Web Services M&A Advise program within the private equity team at Amazon. Prior to that, he worked at Needham & Company, LLC as the sole West Coast internet banker and subsequently Yahoo! and Google. Ochsner earned a bachelor’s degree from Villanova University and an MBA from Golden Gate University.

"We are excited about the continued expansion of our internet technology investment banking platform and look forward to welcoming Matt to the team," said Steven Schmidt, head of technology investment banking at Piper Sandler. "Matt’s experience at Google, Yahoo!, and Amazon provides him with first-hand knowledge of the internet technology market and makes him uniquely positioned to lead this growing area of our business. I am looking forward to partnering with him as we continue to deepen our domain expertise and present the high-quality advisory services our clients expect from Piper Sandler."

Ochsner’s hire complements a robust growth initiative for the firm’s technology investment banking group. Piper Sandler’s technology investment banking team advises clients in application, infrastructure and vertical-market software, internet and digital media, communications, networking and security technologies, gaming, services, transportation technology and financial technology.

"Piper Sandler has established itself as a top firm by continually serving the needs of its clients across equity capital markets, debt capital markets, and financial advisory services," said Ochsner. "I am excited to be joining such a robust platform and contribute to the growing internet technology business."

ABOUT PIPER SANDLER

Piper Sandler Companies (NYSE: PIPR) is a leading investment bank driven to help clients Realize the Power of Partnership®. Securities brokerage and investment banking services are offered in the U.S. through Piper Sandler & Co., member SIPC and NYSE; in Europe through Piper Sandler Ltd., authorized and regulated by the U.K. Financial Conduct Authority; and in Hong Kong through Piper Sandler Hong Kong Limited, authorized and regulated by the Securities and Futures Commission. Alternative asset management and fixed income advisory services are offered through separately registered advisory affiliates.

©2021. Since 1895. Piper Sandler Companies. 800 Nicollet Mall, Minneapolis, Minnesota 55402-7036

View source version on businesswire.com: https://www.businesswire.com/news/home/20211026006166/en/

Contacts

Pamela Steensland
Tel: 612 303-8185
[email protected]

Источник: https://finance.yahoo.com/news/piper-sandler-expands-technology-investment-183900589.html

Bank of the West has solutions for every stage of your technology company’s growth

1 Credit subject to approval.

2 Please consult your Bank of the West representative to learn more about the products and services available to you; Terms and Conditions apply. Loans subject to approval.

3 Bank of the West Reporting as of 12/31/17.

4 $16.8B represents $1.8B in total credit commitments to the technology sector from Bank of the West and $15B in credit commitments to the technology sector from BNP Paribas as of 09/2017. Bank of the West is a wholly-owned subsidiary of BNP Paribas.

5 Certain capital markets and investment products referred to in this document are: (I) not insured by the Federal Deposit Insurance Corporation (“FDIC”); (ii) not deposits or other obligations of the financial institution and are not guaranteed by the financial institution; and (iii) subject to investment risks, including possible loss of the principal invested. BNP Paribas reporting as of 12/31/17.

6 BNPP reporting as of 03/31/18.

Securities and variable annuities are offered through BancWest Investment Services, a registered broker/dealer, member FINRA/SIPC, and SEC Registered Investment Adviser. Financial Advisors are Registered Representatives of BancWest Investment Services. Fixed annuities/insurance products are offered through BancWest Insurance Agency in California, (License #0C52321) and through BancWest Investment Services, Inc. in all other states where it is licensed to do business. This is not an offer or solicitation in any jurisdiction where we are not authorized to do business. Bank of the West and its various affiliates and subsidiaries are not tax or legal advisors.

BancWest Investment Services is a wholly owned subsidiary of Bank of the West. Bank of the West is a wholly owned subsidiary of BNP Paribas.

Investment and Insurance Products:

  • NOT FDIC INSURED
  • NOT BANK GUARANTEED
  • MAY LOSE VALUE
  • NOT A DEPOSIT
  • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Источник: https://www.bankofthewest.com/commercial-banking/industry/technology.html

Where we’re headed

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates. 

To view the "EEO is the Law" poster, CLICK HERE.
To view the "EEO is the Law" Supplement, CLICK HERE.

Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

To view Bank of America’s Drug-free workplace and alcohol policy, CLICK HERE.  

Источник: https://careers.bankofamerica.com/en-us/company/future-vision

Explore Tech, hosted by Laurent Mignon, Chairman of the Management Board & Chief Executive Officer - Groupe BPCE, and Nicolas Namias, Chief Executive Officer of Natixis, is Natixis Corporate & Investment Banking’s first event dedicated exclusively to the topic of technology. This first edition, featuring over 30 speakers in six round tables, brought together key experts to discuss the opportunities companies are creating through the adoption of deep technologies, including in the energy, mobility, real estate, consumer goods, healthcare and insurance sectors. On this occasion, Natixis Corporate & Investment Banking and Boston Consulting Group presented their new report, Big Business Digs into Deep Tech, based on surveys carried out between April and June this year with 226 European companies across 10 sectors.

A powerful wave

The report finds that 90% of European companies are investing in deep tech, and that almost half (45%) are planning to increase such direct investments. The contrast with the general decline of 8%[1] in overall capital expenditures by companies since the global financial crisis indicates the importance accorded to such breakthrough, potentially transformative, technologies, with the main reason given for investing in deep tech projects being to build a long-term advantage over peers.

The covid-19 crisis has speeded up this trend, with 78% of companies having maintained or even accelerated their investments in deep tech since the beginning of the pandemic. The success of mRNA-based vaccines has been a catalyst for investment in biotechnology, while the crisis has spurred increased investment by companies across a range of emerging technologies including digital traceability tools, smart contracts, augmented and virtual reality (AR/VR), and digital assets. Climate change and the environmental crisis are also increasingly serving as drivers of investment, with over half (54%) of respondents viewing deep tech as critical to meeting climate goals, notably in the chemicals, energy, telecom and transportation sectors.

The disruptive power of deep tech

The most mature technologies with proven use cases and return-on-investment are the focus today, but interests in newer deep technologies is growing. Artificial intelligence (AI) and cognitive algorithms are seen as most relevant (by 60% of respondents) notably in healthcare for analysis of medical imaging, and increasingly in diverse areas such as speech recognition, sentiment analysis, risk assessment and fraud detection. Blockchain technology is similarly being adopted for diverse ends, including in traceability in supply chains and tokenization in markets such as art and real estate, although companies continue to struggle with its drawbacks such as volume limitations and energy consumption. Uses of AR and VR are also proliferating, notably among companies in the retail and consumer goods sector as well as in real estate, where virtual visits are potential game changers in the transaction and construction processes.

People and partnerships matter

The report revealed that embracing deep tech requires more than just financial investment, and that the main barriers to adoption of such new technologies are human, namely managing change (identified by 72% of respondents) and attracting talent (55% of respondents). Furthermore, the difficulty of implementing deep tech is greater at the beginning of a company’s deep tech journey, when teams may be more risk averse and less interested in technology, while companies more used to such change embrace new technologies more easily.

Technology – a major priority for Natixis Corporate & Investment Banking

Natixis Corporate & Investment Banking aims, under Groupe BPCE’s strategic plan, to further develop its expertise in the technology sector in order to accompany its clients in the transformation of their businesses through deep tech investments. To this end, Natixis Corporate & Investment Banking has decided to create a Tech Hub that will bring together the expertise of its teams in order to establish a high value-added dialogue with its clients on technology-related topics. The publication of the report Big Business Digs into Deep Tech and the organization of the first Explore Tech event are fully aligned with this strategy by providing clients with insights into the opportunities presented by the fast-changing field of deep tech.

Nicolas Namias, Natixis CEO, said: “Explore Tech, this new event created by Natixis Corporate & Investment Banking, reflects our firm ambition, shared with the whole of Groupe BPCE, to contribute to the momentum required to accelerate the digital transformation. To support our clients in their technological transitions through an offer adapted to their innovation projects, we have decided to build a Tech Hub that will draw on the broad expertise of Natixis Corporate & Investment Banking and more widely of Groupe BPCE.”

Источник: https://pressroom-en.natixis.com/news/european-companies-investing-heavily-in-deep-tech-finds-natixis-corporate-investment-banking-and-boston-consulting-group-report-98c7-8e037.html

MINNEAPOLIS, October 26, 2021--(BUSINESS WIRE)--Piper Sandler Companies (NYSE: PIPR), a leading investment bank, is pleased to announce the addition of Matthew Ochsner as a managing director within the firm’s technology investment banking group. He will be focused on internet technology and will be based in the firm’s newly opened Austin office.

Ochsner brings over 18 years of operational and investment banking experience within the internet technology sector. Prior to joining Piper Sandler, Ochsner led the Amazon Web Services M&A Advise program within the private equity team at Amazon. Prior to that, he worked at Needham & Company, LLC as the sole West Coast internet banker and subsequently Yahoo! and Google. Ochsner earned a bachelor’s degree from Villanova University and an MBA from Golden Gate University.

"We are excited about the continued expansion of our internet technology investment banking platform and look forward to welcoming Matt to the team," said Steven Schmidt, head of technology investment banking at Piper Sandler. "Matt’s experience at Google, Yahoo!, and Amazon provides him with first-hand knowledge of the internet technology market and makes him uniquely positioned to lead this growing area of our business. I am looking forward to partnering with him as we continue to deepen our domain expertise and present the high-quality advisory services our clients expect from Piper Sandler."

Ochsner’s hire complements a robust growth initiative for the firm’s technology investment banking group. Piper Sandler’s technology investment banking team advises clients in application, infrastructure and vertical-market software, internet and digital media, communications, networking and security technologies, gaming, services, transportation technology and financial technology.

"Piper Sandler has established itself as a top firm by continually serving the needs of its clients across equity capital markets, debt capital markets, and bmo harris bank locations phoenix az advisory services," said Ochsner. "I am excited to be joining such a robust platform and contribute to the growing internet technology business."

ABOUT PIPER SANDLER

Piper Sandler Companies (NYSE: PIPR) is a leading investment bank driven to help clients Realize the Power of Partnership®. Securities brokerage and investment banking services are offered in the U.S. through Piper Sandler & Co., member SIPC and NYSE; in Europe through Piper Sandler Ltd., authorized and regulated by the U.K. Financial Conduct Authority; and in Hong Kong through Piper Sandler Hong Kong Limited, authorized and regulated by the Securities and Futures Commission. Alternative asset management and fixed income advisory services are offered through separately registered advisory affiliates.

©2021. Since 1895. Piper Sandler Companies. 800 Nicollet Mall, Minneapolis, Minnesota 55402-7036

View source version on businesswire.com: https://www.businesswire.com/news/home/20211026006166/en/

Contacts

Pamela Steensland
Tel: 612 303-8185
[email protected]

Источник: https://finance.yahoo.com/news/piper-sandler-expands-technology-investment-183900589.html

Explore Tech, hosted by Laurent Mignon, Chairman of the Management Board & Chief Executive Officer - Groupe BPCE, and Nicolas Namias, Chief Executive Officer of Natixis, is Natixis Corporate & Investment Banking’s first event dedicated exclusively to the topic of technology. This first edition, featuring over 30 speakers in six round tables, brought together key experts to discuss the opportunities companies are creating through the adoption of deep technologies, including in the energy, mobility, real estate, consumer goods, healthcare and insurance sectors. On this occasion, Natixis Corporate & Investment Banking and Boston Consulting Group presented their new report, Big Business Digs into Deep Tech, based on surveys carried out between April and June this year with 226 European companies across 10 sectors.

A powerful wave

The report finds that 90% of European companies are investing in deep tech, and that almost half (45%) are planning to increase such direct investments. The contrast with the general decline of 8%[1] in overall capital expenditures by companies since the global financial crisis indicates the importance accorded to such breakthrough, potentially transformative, technologies, with the main reason given for investing in deep tech projects being to build a long-term advantage over peers.

The covid-19 crisis has speeded up this trend, with 78% of companies having maintained or even accelerated their investments in deep tech since the beginning of the pandemic. The success of mRNA-based vaccines has been a catalyst for investment in biotechnology, while the crisis has spurred increased investment by what is technology investment banking across a range of emerging technologies including digital traceability tools, smart contracts, augmented and virtual reality (AR/VR), and digital assets. Climate change and the environmental crisis are also increasingly serving as drivers of investment, with over half (54%) of respondents viewing deep tech as critical to meeting climate goals, notably in the chemicals, energy, telecom and transportation sectors.

The disruptive power of deep tech

The most mature technologies with proven use cases and return-on-investment are the focus today, but interests in newer deep technologies is growing. Artificial intelligence (AI) and cognitive algorithms are seen as most relevant (by 60% of respondents) notably in healthcare for analysis of medical imaging, and increasingly in diverse areas such as speech recognition, sentiment analysis, risk assessment and fraud detection. Blockchain technology is similarly being adopted for diverse ends, including in traceability in supply chains and tokenization in markets such as art and real estate, although companies continue to what is technology investment banking with its drawbacks such as volume limitations and energy consumption. Uses of AR and VR are also proliferating, notably among companies in the retail and consumer goods sector as well as in real estate, where virtual visits are potential game changers in the transaction and construction processes.

People and partnerships matter

The report revealed that embracing deep tech requires more than just financial investment, and that what is technology investment banking main barriers to adoption of such new technologies are human, namely managing change (identified by 72% of respondents) and attracting talent (55% of respondents). Furthermore, the difficulty of implementing deep tech is greater at the beginning of a company’s deep tech journey, when teams may be more risk averse and less interested in technology, while companies more used to such change embrace new technologies more easily.

Technology – a major priority for Natixis Corporate & Investment Banking

Natixis Corporate & Investment Banking aims, under Groupe BPCE’s strategic plan, to further develop its expertise in the technology sector in order to accompany its clients in the transformation of their businesses through deep tech investments. To this end, Natixis Corporate & Investment Banking has decided to create a Tech Hub that will bring together the expertise of its teams in order to establish a high value-added dialogue with its clients on technology-related topics. The publication of the report Big Business Digs into Deep Tech and the organization of the first Explore Tech event are fully aligned with this strategy by providing clients with insights into the opportunities presented by the fast-changing field of deep tech.

Nicolas Namias, Natixis CEO, said: “Explore Tech, this new event created by Natixis Corporate & Investment Banking, reflects our firm ambition, shared with the whole of Groupe BPCE, to contribute to the momentum required to accelerate the digital transformation. To support our clients in their technological transitions through an offer adapted to their innovation projects, we have decided to build a Tech Amazon store card synchrony app that will draw on the broad expertise of Natixis Corporate & Investment Banking and more widely of Groupe BPCE.”

Источник: https://pressroom-en.natixis.com/news/european-companies-investing-heavily-in-deep-tech-finds-natixis-corporate-investment-banking-and-boston-consulting-group-report-98c7-8e037.html

A Bright Guide to: IT & Technology in Investment Banking

London is the financial centre of the world (according to the Global Financial Centres Index) and therefore its professionals and technology are quite simply the best in the business. Nanosecond delays in communications lose banks business and one tiny bug can down a market and knock millions off prices. If you want to work in an industry with real-world tangible results, this is your sector. Read on for more.

What is it?

Graduates in Banking Technology will work to either develop software that the bank uses for its business and transactions, or they’ll be focusing on the hardware. 

Why is it used?

Technology is fundamental to the bank and financial industry. Famously, a $300 million cable was laid across the Atlantic simply to shave off five milliseconds between New York and London. It’s an arms race for speed and complexity.

If you want to stay ahead of the game, see these useful sources that you can use.

Why is it a good career?

Technologists are highly phoenix hud homes for sale demand within the financial sector, and they’re rewarded accordingly. It’s a career which will constantly provide you with challenges and test your limits. What’s more, the training will be top-notch, meaning that you either have a very prestigious career ahead of you in Banking, or can take that knowledge down the line to another sector or your own business.

Find out who are the leading graduate employers in the Tech sector.

What types of roles are there?

There's a wealth of different roles to choose from in this sector, but here's a few that are most popular among graduates.

  • Programmers: you'll have responsibility for writing and testing individual programmes that can shape a company's given strategy and future growth.
  • Software Engineers: you'll research and develop computer software and software systems for clients - software designers have a similar role too.
  • Product Manager: product managers work with the team to develop new products and bring them to market, for example: apps, websites or games.
  • IT User Support Technicians: also known as help desk support, you'll solve faults and problems as they occur and advise clients to maximise the use of software features. 

Discover the other types of graduate roles in the IT and software development sector. 

Who would enjoy it and what skills do you need?

First and foremost a graduate who loves technology should consider this career. A passion for finance isn’t so necessary, no one’s expecting you to be an economist, but you should have some interest in what effect your actions will have on the financial world. A graduate who loves fast pace and pressure will thrive in this career, and it will also suit a graduate with global what is technology investment banking. Some of the top skills needed to excel in this sector include.

Read more about the top skills you need in the technology sector and how to improve them.

How to impress on an application

It’s a good idea to have a think about whether you see yourself involved with software or hardware as the best love loft card comenity bank to stand out is to already start garnering skills for your chosen area. You should choose relevant modules at university, and spend time discovering what tools the employer uses, so you can try something similar in your free time.

Finally, a true stand-out candidate will prove they can cope with pressure and quick changes. Highlight times you’ve had to work to tight deadlines successfully, and show you have volunteered to take on extra work in group presentations in order to obtain a great result. Read our guide to ways to stand out in your technology application.

Where you can go to learn more

Bright Network's career path guide just for technology IT and software development is the place to go for everything you need to kick-start your journey into this sector. From salary expectations, technology interview tips to understanding tech jargon - we have it all and much more!

Discover Technology IT & software development graduate jobs

If you're ready to take the first leap, use Bright Network's and browse graduate jobs in technology IT and software development to get you started.

Browse graduate jobs

 


Next:
Top skills to excel in the Technology sector

Источник: https://www.brightnetwork.co.uk/career-path-guides/technology-it-software-development/bright-guide-it-technology-investment-banking/

Technology Trends in Investment Banking for 2021-2022

The relative lack of technology in investment banking is a puzzler.

In 2020, global technology M&A generated $634 billion, so it’s not bank of america debit card designs 2020 though groundbreaking technology isn’t on the radar of investment banks. Perhaps it’s that technology is less a disruptor and more a catalyst for investment bankers.

The following are just some of the ways in which investment bankers are putting technology to work for them these days:

1. Artificial Technology

Artificial technology in itself represents an existential threat to investment bankers’ work. The more advanced AI becomes, the more it becomes capable of replacing the routine processes currently carried out by humans.

In dealmaking, this means deal origination, company search, due diligence (financial, legal and more) and even change management could all be partly taken over by artificial intelligence.

AI is increasingly being used by investment banks for their research - both at the marketing and due diligence levels. Artificial intelligence has the capability to pull up dozens of relevant reports, filings, and other documents within seconds for analysts to scrutinize.

Projections, valuations, and Monte Carlo simulations are also now being implemented without the man hours that quantitative analysts once pillados follando to put in thanks to advances in AI

2. Direct Listing Technology

As we stated in a previous article, preparing for Initial Public Offerings is a drain on time on cash for most companies. A series of companies, from Spotify to Palantir, have opted for direct listings in recent years, removing bankers from the process almost entirely.

The explosion in popularity of SPACs over the past five years also points to a financial community which is looking for easier alternatives to the traditional IPO.

Add to this what is technology investment banking proposal by the NYSE to lower the barriers for direct listings which was approved by the SEC in August 2020, a lot more direct listings can be expected in the coming years.

This, in turn is likely to lead to a host of new platforms which help small and medium-sized companies through the direct listing process. We can reasonably expect a range of off-the-shelf technology solutions for direct listings, saving companies millions in the process.

3. Natural Language Programming

Sometimes mixed together with Artificial Intelligence, Natural Language Programming (NLP) uses elements of the former and analyses the interactions between computers and the human language.

The strength what is technology investment banking NLP is that it converts unstructured data, and converts it into structured, measurable data. If the role of an investment analyst could be described in a sentence, it would be ‘convert unstructured data into structured, measurable data.’

The applications here are huge. Think of the verbiage involved in annual reports, investor calls, and regulator statements. NLP has the potential to crunch all of this into digestible information.

And then there’s due diligence: Due diligence teams that were previously swamped by information provided by the selling team can now leverage NLP technology to process information faster than ever before, adding huge efficiency to an often time sapping activity.

4. Virtual Data Rooms

As DealRoom pointed out before, a rising amount of data (something that deals of all sizes can now count on) requires more space for that data.

And not just space, but somewhere that deal participants can share that data what is technology investment banking relevant to them, draw the attention of others to it, communicate what needs to be said, and generally make the deal process both more effective and more efficient.

This is the role of the virtual data room (VDR), DealRooms own area of expertise. Our virtual data rooms empower deal makers with better productivity, enhanced compliance and security, lower cost deal making and the assurance that nothing important will get lost.

Naturally, we highly recommend that anyone taking part in the dealmaking process takes advantage of this particular piece of technology.

5. Blockchain

The first blockchain technology was invented 30 years ago citadel online banking app 1991, but it’s really only in the past half decade that investment banks have sat up and paid attention to the value that it can add for them.

Currently, the effects are being strongly felt on the trading side of investment banking, where reconciliation processes and systems can be costly and regulatory reporting requirements can involve significant amounts of mutualized data.

A report by Accenture looked at the impact of Blockchain technology on investment banking and found that adoption of Blockchain by investment banks could lead to:

  • 30% cost savings in central finance reporting
  • 50% cost savings in centralized operations
  • 30% cost savings on compliance
  • 50% cost savings on business operations

6. Mobile Apps

Investment banking is no different from any other industry in that it is embracing mobile. Most of the blue chip investment banks now offer a range of services to their clientele through mobile apps. All this became possible due to benefits of flutter app development that drastically reduce time on cross-platform apps production.

These services might include, for example, the latest market intelligence, real-time market data, interactive analyst and industry reports, and client personal dashboards that allow users to interact with their representative directly.

As more and more APIs are developed - for example, Xero has opened access to its platform to over 200 APIs - the greater the range of possibilities opened by these investment banking apps.

The advantages here are mutual. On one side, small fintech startups benefit from having their name attached with a credible financial institution. On the other hand, investment banks can ensure that they’re on trend with the latest technological developments.

Conclusion

Technology does not mean the end of investment banking. However, it does mean evolution. A range of tools falling into the boxes outlined above have the potential to empower investment bankers everywhere.

An industry which prides itself on the smartest people using the best available data to generate value creating advice cannot justify doing so without leveraging technology.

On that basis, there is every reason to believe that the technology outlined above may just be the tip of the iceberg.

data rooms

Product updated ·

September 22, 2021

·4 min read

Источник: https://dealroom.net/blog/how-technology-is-changing-investment-banking

Bank of the West has solutions for every stage of your technology company’s growth

1 Credit subject to approval.

2 Please consult your Bank of the West representative to learn more about the products and services available to you; Terms and Conditions apply. Loans subject to approval.

3 Bank of the West Reporting as of 12/31/17.

4 $16.8B represents $1.8B in total credit commitments to the technology sector from Bank of the West and $15B in credit commitments to the technology sector from BNP Paribas as of 09/2017. Bank of the West is a wholly-owned subsidiary of BNP Paribas.

5 Certain capital markets and investment products referred to in this document are: (I) not insured by the Federal Deposit Insurance Corporation (“FDIC”); (ii) not deposits or other obligations of the financial institution and are not guaranteed by the financial institution; and (iii) subject to investment risks, including possible loss of the principal invested. BNP Paribas reporting as of 12/31/17.

6 BNPP reporting as of 03/31/18.

Securities and variable annuities are offered through BancWest Investment Services, a registered broker/dealer, member FINRA/SIPC, and SEC Registered Investment Adviser. Financial Advisors are Registered Representatives of BancWest Investment Services. Fixed annuities/insurance products are offered through BancWest Insurance Agency in California, (License #0C52321) and through BancWest Investment Services, Inc. in all other states where it is licensed to do business. This is not an offer or solicitation in any jurisdiction where we are not authorized to do business. Bank of the West and its various affiliates and subsidiaries are not tax or legal advisors.

BancWest Investment Services is a wholly owned subsidiary of Bank of the West. Bank of the West is a wholly owned subsidiary of BNP Paribas.

Investment and Insurance Products:

  • NOT FDIC INSURED
  • NOT BANK GUARANTEED
  • MAY LOSE VALUE
  • NOT What is technology investment banking DEPOSIT
  • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Источник: https://www.bankofthewest.com/commercial-banking/industry/technology.html

Associate, Finanical Technology Investment Banking, BCMA

Job Req ID 21260456Primary Location New York, New YorkJob Category Institutional Banking

Apply Now

The FinTech Investment Banking Associate is an intermediate level position responsible for assisting clients in raising funds in the capital markets, as well as in providing strategic advisory services for mergers, acquisitions and other types of financial transactions in coordination with the Institutional Banking team. The Investment Banking Associate also serves as an intermediary in trading for clients. The overall objective of this role is to act as a strategic advisor to our clients by formulating investment strategies and raising capital for clients.

Responsibilities:

  • Assist in the execution of Citi’s Investment Banking business activities
  • Leverage past investment banking or related best website to buy used cars online to enhance M&A execution and capital raising capabilities
  • Contribute to building Citi’s franchise
  • Manage and mentor analysts by providing detailed guidance and feedback, managing information flow, and providing credit and exposure information to analyst, as appropriate
  • Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.

Qualifications:

  • 5-8 years of relevant experience
  • Bachelor’s degree in Finance or closely related areas of Business Administration Master's degree in Business Administration
  • Experience in evaluating corporate transactions and structures
  • Experience creating financial analyses
  • Demonstrated problem solving and organizational skills
  • Consistently demonstrates clear and concise written and verbal communication skills
  • Experience assisting with client development
  • Ability to work with teams and track business development (collect research, analyze industry trends)
  • Series 79 and 63 licenses

Education:

  • Bachelor’s degree/University degree or equivalent experience

This job description provides a high-level review of what is technology investment banking types of work performed. Other job-related duties may be assigned as required.

-------------------------------------------------

Job Family Group:

Institutional Banking

-------------------------------------------------

Job Family:

Investment Banking

------------------------------------------------------

Time Type:

------------------------------------------------------

Citi is an equal opportunity and affirmative action employer.

Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Citigroup Inc. and its subsidiaries ("Citi”) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi.

View the "EEO is the Law" poster. View the EEO is the Law Supplement.

View the EEO Policy Statement.

View the Pay Transparency Posting

Apply Now

  • Join our team
    of 200,000+
    strong diverse employees

  • Socially minded employees volunteering in communities across 90 countries

  • Meaningful career opportunities thanks to a physical presence in over 98 markets

We foster a culture that embraces all individuals and encourages diverse perspectives, where you can make an impact and grow your career. At Citi, we value colleagues that demonstrate high professional standards, a strong sense of integrity and generosity, intellectual curiosity, what is technology investment banking rigor. We recognize the importance of owning your career, with the commitment that if you do, we promise to meet you more than half way.

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Источник: https://jobs.citi.com/job/new-york/associate-finanical-technology-investment-banking-bcma/287/4792968480

What is technology investment banking -

MINNEAPOLIS, October 26, 2021--(BUSINESS WIRE)--Piper Sandler Companies (NYSE: PIPR), a leading investment bank, is pleased to announce the addition of Matthew Ochsner as a managing director within the firm’s technology investment banking group. He will be focused on internet technology and will be based in the firm’s newly opened Austin office.

Ochsner brings over 18 years of operational and investment banking experience within the internet technology sector. Prior to joining Piper Sandler, Ochsner led the Amazon Web Services M&A Advise program within the private equity team at Amazon. Prior to that, he worked at Needham & Company, LLC as the sole West Coast internet banker and subsequently Yahoo! and Google. Ochsner earned a bachelor’s degree from Villanova University and an MBA from Golden Gate University.

"We are excited about the continued expansion of our internet technology investment banking platform and look forward to welcoming Matt to the team," said Steven Schmidt, head of technology investment banking at Piper Sandler. "Matt’s experience at Google, Yahoo!, and Amazon provides him with first-hand knowledge of the internet technology market and makes him uniquely positioned to lead this growing area of our business. I am looking forward to partnering with him as we continue to deepen our domain expertise and present the high-quality advisory services our clients expect from Piper Sandler."

Ochsner’s hire complements a robust growth initiative for the firm’s technology investment banking group. Piper Sandler’s technology investment banking team advises clients in application, infrastructure and vertical-market software, internet and digital media, communications, networking and security technologies, gaming, services, transportation technology and financial technology.

"Piper Sandler has established itself as a top firm by continually serving the needs of its clients across equity capital markets, debt capital markets, and financial advisory services," said Ochsner. "I am excited to be joining such a robust platform and contribute to the growing internet technology business."

ABOUT PIPER SANDLER

Piper Sandler Companies (NYSE: PIPR) is a leading investment bank driven to help clients Realize the Power of Partnership®. Securities brokerage and investment banking services are offered in the U.S. through Piper Sandler & Co., member SIPC and NYSE; in Europe through Piper Sandler Ltd., authorized and regulated by the U.K. Financial Conduct Authority; and in Hong Kong through Piper Sandler Hong Kong Limited, authorized and regulated by the Securities and Futures Commission. Alternative asset management and fixed income advisory services are offered through separately registered advisory affiliates.

©2021. Since 1895. Piper Sandler Companies. 800 Nicollet Mall, Minneapolis, Minnesota 55402-7036

View source version on businesswire.com: https://www.businesswire.com/news/home/20211026006166/en/

Contacts

Pamela Steensland
Tel: 612 303-8185
[email protected]

Источник: https://finance.yahoo.com/news/piper-sandler-expands-technology-investment-183900589.html

HEALTHCARE TECHNOLOGY

Ziegler offers Wall Street quality advice, credentials, and experience in a boutique setting to many of the leading and upcoming healthcare information technology and outsourcing firms.


As one of the most active M&A and advisory franchises, Ziegler has provided many clients with the strategic advice necessary to successfully navigate the complicated process of identifying, evaluating and executing mergers, acquisitions and divestitures as well as strategic options assessments. Ziegler offers comprehensive transaction advisory services ranging from sell-side and buy-side representation to valuation and fairness opinions. 

Types of clients we partner with:

  • Population management, clinical documentation and decision support 
  • Data integration tools and infrastructure
  • Quality, safety and compliance solutions 
  • Financial and operational analytics /performance improvement 
  • Revenue cycle software and outsourced services
Источник: https://www.ziegler.com/what-we-do/investment-banking-corporate-finance/healthcare-organizations/healthcare-information-technology-hit/

Today, technology is key in turning trading strategy into trading profit. Technology enables new pricing models and products to be delivered to the market. The Investment Banking industry thrives on the flow, analysis, and interpretation of information and technology is often the edge that gives a bank competitive advantage.
Investment Bank
Technology spans across  IB  functions and underpins every deal that is made. When a system is unavailable, millions of dollars can be lost. So robust systems and infrastructure are more than important, they are fundamental to IB’s ability to operate & make profits.
Another challenge is the evolving regulatory burden of the financial sector. Technology has to do more than keeping up; it has to drive the changes and developments necessary to keep IB’s ahead of the competition.
IB’s rely on advanced technologies in the front office to enable high-speed and high-frequency trading. Until now, the upfront benefits from this activity have been so enormous that the complexity and inefficiency of post-trade processes and systems have often been overlooked.
This is changing at a fast pace. The highest performing investment banks are now using their front-office technologies in bold, innovative ways as a source of competitive advantage for the whole business. By concurrently enabling interdependent business functions, such as risk management, settlement and financial reporting, these technologies are transforming the way organizations ‘think’, ‘react’ and ‘operate’.

There are a number of reasons for the change in this trend:

  • Management requires integrated, proactive technology infrastructures that can anticipate the impact of new market and regulatory developments and adapt to the same.
  • Technical leaders are under mounting pressure to get a return on their massive investments in technology by using these assets to drive down costs, as well as increase revenues (traditionally the principal focus for front-office technologies)
  • This increasing emphasis on ROI means Technology leaders need to develop flexible IT systems/assets, that, by adapting to business change, can appreciate in value over time.

Understanding complex technology is one aspect, but a firm grasp of business problems is also essential. IB technologists work closely with the sales, trading floor, middle office operations to develop the software that enables them to make the split-second decisions or use their creativity and initiative to enhance state-of-the-art front-to-back systems and databases. Whatever the task may be, IB technologists work in a fast-moving environment where solutions move from concept to implementation in weeks and months rather than years.

Also Read: Role of Information Technology in Investment Banking

Источник: https://blog.imarticus.org/role-of-technology-in-investment-banking/

Fintech and Banks: How Can the Banking Industry Respond to the Threat of Disruption?

Executive Summary

Banks Can Play the Fintech Game Too

Fintech, shortened from financial technology, is assumed to be a modern movement, yet the use of technology to assist financial services is by no means a recent phenomenon. Financial services is an industry that introduced credit cards in the 1950s, internet banking in the 1990s and since the turn of the millennium, contactless payment technology. Yet, fintech’s place in the public conscience has really taken off in the past three years:

Chart 1: Google Trends "Interest over Time" Results for the Search String "Fintech"

The takeoff of this term has come from startups—actors not within the inner circle of financial services, taking a more prominent role within the ecosystem. Three core trends have led to this emergence:

  • Technology: Financial services traditionally was an industry that required fixed assets (for example, branches) to scale, acting as a barrier to entry to newcomers. Technological advancements now allow upstarts to run complex operations virtually. For example, neobanks operate purely on technological infrastructure. UK-based Revolut has amassed 1.5 million customers (of which 350,000 are active daily) without any kind of live customer-facing function.

  • Customers: In the aftermath of the Financial Crisis of 2008 and various other scandals, customers are demanding more from their banking services. Technology now empowers consumers to scrutinize their providers more heavily and upstarts are harnessing it to provide cleaner and more effective customer service, free from the shackles of legacy technology.

  • Regulation: Increased regulatory oversight on banks post-2008 is estimated to cost the six largest US institutions ~$70 billion per year. Citigroup alone employs 30,000 within its compliance division. Aside from complying with regulations, restrictions on lending have both increased the fully-loaded borrowing costs to consumers and diminished banks’ ability to offer it. This has allowed startups who, because they are not de facto banks (and thus under less oversight), step in and offer compelling alternatives.

The narrative that the fintech landscape suggests is that startups are using technology to disrupt incumbent banks. Yet, there is no reason to suggest that banks are facing their own Kodak or Blockbuster Video moment. They still remain widely used, profitable, and cash-rich businesses. What this article will address, though, is how they can respond better to this “fintech vs banks” movement as, in my opinion, their response so far has been suboptimal.

Fintech 2.0

So far, fintech startups have not looked at the widespread disruption of all financial services. McKinsey analysis of a sample of startup data shows that 62% of startups are tackling the retail banking segment, with only 11% focused on large corporate banking offerings. Payments is the most popular area to usurp and lending is the most lucrative area of banking by revenue being targeted:

Figure 1: Product and Customer Focus for a Sample of 350 Fintech Startups

The response by banks right now to fintech disruption is critical due to the current stage of the nascent industry’s development. Fintech startups are broadly focused on the concept of unbundling banks, offering one type of product/service and concentrating on doing it VERY well.

Innovation thus far has been largely driven on the front-end within these specialized offerings, mainly through improving customer-facing facets of financial services. Some examples of how this is being done are:

  • Better service: A traditional bank largely ties a customer in by offering them a range of services that make them sticky, through increased switching costs. Without this luxury, specialized fintech companies follow a mantra of earning trust through better customer service and referral-based client acquisition. 90% of fintech companies cite enhanced customer experience as key to their competitive advantage.
  • Better branding: With employees from non-traditional banking backgrounds adding an unbiased perspective, the fintech industry is refreshing the branding of the legacy services that it is trying to upend. Modern marketing tools like gamification are making mundane tasks like budgeting appear exciting and more palatable to consumers.
  • Cheaper prices: Having a leaner virtual operation, more flexibility through not being regulated as a deposit-gathering institution, and cash from venture capital allows fintech startups to attract customers with competitive pricing.

Fintech in the Back-End of Financial Services

Bringing in new customers will allow a fintech firm to validate its product, receive feedback, and buy time in lieu of the second paradigm: improving the back-end of financial services. The back-end of finance, the “rails” of the industry, consists of the established infrastructure that banks use to interact and transact with each other, such as clearing (NSCC), payment (ACH), and messaging (SWIFT) systems. Widespread movements to disrupt these norms have not emerged, although the potential of new technological applications such as blockchain technology within these areas is enormous. A significant event did occur here in 2017, when ClearBank became the first new clearing bank to open in the UK in for 250 years. This will give it license to build and offer new, modern rails solutions to stakeholders of the financial services world.

Behind the better customer service and beautiful apps, the back-end of a fintech startup largely follows the same processes of a bank. When you make a payment through Venmo, get a loan through SoFi, or invest in Betterment, you are not going through a “new” financial system. These firms rent and utilize the same legacy infrastructure that banks use. They work wonders to make the system appear better to consumers, papering over cracks and bureacracy, sometimes with audacious claims like Transferwise’s peer-to-peer FX model—an almost impossible feat to really achieve in the mismatched world of cross-border payments. Startups’ front-end driven business model presents two existential threats to its fintech ecosystem:

  1. Their costs to use the rails will always be higher than the incumbents, as they are renting them.

  2. Their lights can be turned off at a whim as they are conduit middlemen within the service.

For that, until fintech can move to fintech 2.0 and create its own rails, it will have a huge strategic risk and banks will have time to respond. To ascend within the financial services industry, fintech startups will need to forge a new technologically-led back-end for the industry. A continuation of their tech-led front-end and a rented process-led back-end, designed generations ago, will ultimately result in sustained margin compression and high operational risks.

Creating new banking back-end processes will be difficult, due to format adoption consensus topics that will arise (think Blu-ray and HD-DVD) and involvement that regulators will play. But reaching this and having a seat at the table will at least allow startups to operate on a level playing field and mitigate the existential threats that hang over them. Until that point, they may remain on the fringe, merely papering over the cracks of a creaking financial services system.

In light of the current situation of fintech businesses, I will now switch the attention to banks and how they can respond to fintech technology in a better way. Their responses so far have erred more towards Kodak than Koninklijke Philips, which sold its music business in the 1990s in anticipation of the MP3 revolution.

1. Fight or Flight

The figure below shows a framework by MIT Sloan that categorizes responses to disruptive innovation, two factors affect the incumbent’s response, motivation, and ability:

figure 2: MIT Sloan Disruptive technology Response Matrix

Based on current actions, banks sit in the top left quadrant. They have displayed low motivation despite their high ability to respond to fintech. They have the wealth and staff numbers to tackle the disruptive potential of fintech startups, but their responses have been either dismissive or passive. Regarding the former, not a week goes by without a financial services chief scoffing at Bitcoin or robo investing. In terms of being passive, banks have mostly engaged with fintech through soft-touch accelerators or direct equity investing which, in its purity, is a form of outsourced innovation.

In my view, if a bank really wants to respond to the fintech movement constructively, they need to increase their motivation and either fight or flight.

Fight

By fight, I am referring to ripping up the norms of the industry and trying something completely different. The rails of banking are old and confusing; manual and institutionalized processes that were built up in the pre-internet age have formed around them and become the status quo. These have increased the prices and bureaucracy that consumers face. Even now, only 7% of credit products in banks can be handled digitally from end to end.

One advantage that banks hold over fintech startups is that they know the keys to these rails through historical processs knowledge. Improving them will provide banks with efficiency gains that can be passed through to consumers via better pricing. A better service will also win transaction rents from fintech startups, who will use the service. Considering that upstarts are following a mentality of “unbundling” the bank, it’s reasonable to suggest that they would be content to rent a newer form of infrastructure, so long as it’s malleable, transparent, fast and provides good value.

With their vast financial resources and technological prowess, this is achievable for banks. Although it’s a risky move, firstly for the cost and secondly for the “prisoner’s dilemma” aspect of going against peers and trying something different. If they do not participate in this change, someone else will and the industry will eventually move to new rails.

Flight

Before they went full-service and became conglomerates with investment, commercial and retail arms, banks were good at what they did. Sound credit practices grew from branch managers granting mortgages to local customers that they knew and saw at regular occurrences.

A contrarian response to fintech, but one that is worth consideration, is that banks acknowledge the inevitability of the unbundling of financial services and retreat back to their roots—using their infrastructure to be “enablers” of financial services, such as custodians for deposits, and also applying their scale to revert to the form of human interaction which is being shunned by fintech. One example of this focus is Metro Bank, a new UK bank that opened in 2010 with a simple portfolio of services and the first new bank in 100 years to offer branch infrastructure. It has since IPOed and opened 41 branches.

Retreating from the empire-building of conglomerate banking is a hard pill to swallow. If the unbundling of financial services does succeed, conglomerates will represent bloated generalists in the system. Spinning off consumer banks and the return of investment bankers back to the boutique model will afford each entity the time to focus on what they do best and survive through specialization.

2. Reasses the Goals of Investing in Fintech Startups

I referred earlier to the outsourced innovation aspect of financial services’ current response to fintech; 63% of them have set up accelerators or startup venture funds. US banks alone have invested a staggering $3.6 billion in 56 different fintech startups. Conversely, only 7% of banks have done the hardest job of setting up their own fintech R&D offshoot to create proprietary solutions:

Chart 2: How Banks Are Currently Responding to the Fintech Movement, and Table 1: Fintech Startup Investments by Sector for US Banks

Some could call investing in the enemy a Machiavellian touch of genius, but it could also be called overly-passive. For all the wealth and resources that banks have, to be relying on fledgling startups to drive the innovation of their industry strikes me as misguided. Likewise, accelerators are easy to set up, but as data shows, have varying degrees of success. Despite the PR karma and confirmation bias of “being involved” through running a fintech accelerator, operating it with an internally-lead syllabus could skew the insight the startups receive, compared to an independent program.

More Collaborative Equity Investing in Fintech Startups

**The end-game of banks investing in startups is also confusing. If it comes out well, there will be a one-off financial windfall, but presumably one would also infer that the disruption faced by the bank has now scaled. Acquiring the invested companies also results in integration difficulties and the zero-sum game of cannibalizing existing offerings via the startups’ own. The incentive to be involved and keep a finger on the pulse also runs the gambit of alienating other investors and distracting the founders’ unfettered direction.

Taking equity stakes in startups should be more of a collaborative exercise for banks. One of the core value-adds that a corporate investor provides, over say traditional VCs, is that they have a sandbox of clients and activities that are potential customers of the startup. Instead of investing with a view to perhaps aquire the startup at a later date and hoard it for itself, bank investors should open up their own client roster to the startup. Such iterative tests will allow for the startup to validate itself and for the bank to provide a value differentiator to clients, while demonstrating internally what industry innovation really looks like.

Banks should also be more innovative with their capital and start upshot fintech ventures, labs completely separate from the main operation. This could be in the form of spun off independent groups, capitalized with equity and with no internal transfer pricing or involvement from the parent, staffed either with capable internal staff or external hires who receive “founding stock”. As the only shareholder, the banks will have control through the board, which can correctly steer the company through independent directors and the founding team’s motivation. Marcus by Goldman Sachs shows an interesting application of an “independent” offshoot formed inside a big bank, in the space of two years it has collected $20bn of deposits and underwritten $3bn of loans and is now expanding internationally.

3. Change the Cost Culture of Cross-Subsidization

A focal moment in banking is the yearly budgeting process, in terms of defining revenue targets and, equally, costs that will be apportioned to divisions. Everything from rent to the flowers in reception needs to be shared out. While egalitarian cost accounting methods bring transparency to this process, continually rising costs place more pressure on short-term goals of reaching yearly targets at the expense of long-term planning. Cost increases arrive all the time—Brexit alone is estimated to increase bank costs by 4%.

Cross-subsidization is evident in products too, whereby some products have a higher return on investment than others for strategic reasons. There is a reason why student bank accounts come with large overdrafts and free concert tickets—it’s because banks want to attract new customers who, ten years down the line, will be purchasing houses with lucrative long-term mortgages.

Banks operate in vertical silos where each team performs specific functions and, if a deal requires multiple services, multiple teams are involved. Because each team has its own cost structures and profit targets, they each require their “piece of the pie”. A 2017 leak received by the Guardian of a Banco Santander report demonstrates this for money transfer, where three teams in Santander combined to earn €585 million in annual revenue from the service. When compared to the transparent and cheaper fees from Transferwise, it shows a stark contrast:

Chart 3: Leaked Banco Santander Data Showing Its Money Transfer Fees Versus Fintech Equivalents

For large banking operations, you would expect cost economies of scale to kick in and synergies to coexist between teams, I would argue that this is not the case. The nuanced nature of banking means that uniform rollouts of bank-wide programs, such as the use of specific software, or even graduate training programs that take a “one size fits all” approach, may not be suitable for teams in their specific needs. Likewise, the siloed nature of budgets and targets means that synergies that sound good on paper often don’t transpire in reality.

Resolving this issue is complex but critical towards empowering bank teams to think with a long-term mentality, a luxury provided to fintech startups via venture financing. Because banking teams have one-year budgets with high-cost hurdles, they are often fighting fires to reach the targets and any longer-term planning is a secondary concern.

To rectify this, banks must look at their budgeting and cost-sharing process and take a more ruthless approach over an egalitarian one. True core functions, such as treasury, must remain shared by all teams, but other central functions should be opt-in/out as to whether specific revenue-generating teams cover a share of their costs. Instead of pro-rata sharing of costs based on a share of notional traded or headcount, costs should also be allocated taking into account the effort and complexity required for certain activities. Zero-based budgeting would also prevent cost-creep and wastage from the age-old process of superfluous spending in the final months of the year to ensure that budgets aren’t reduced.

Longer term budgeting would also reward teams for sustained growth and innovation should be encouraged though allowing teams to allocate their own funding to R&D fintech initiatives.

4. Align Compensation to Important Emerging Skill Areas

In 2007, almost 40% of MBA graduates from top US schools were entering the finance industry. These numbers have now shrunk to below 30% and the tech industry is poised to become the most popular sectoral choice. Various banking scandals have contributed to banks losing their veneer and, despite still being a very well-paid industry, some of the larger technology companies now pay more to graduates:

Chart 4: First-year Engineering/Management Graduate Salaries for Tech Firms Outstrip Financial Services

Stock options are regularly offered within banking compensation, but it can be argued that stock options in the tech industry offer greater potential upside. For example, Amazon has a price-earnings ratio of 256, 11 times higher than that of Goldman Sachs.

Targeted wage increases and a more compelling bonus plan could quickly rectify this. In addition, decentralized teams and longer-term budgeting may help to stem the qualitative reasons for talented staff leaving for the intellectual rigours of a tech company.

Away from headline figures of graduates and star traders, banks also need to look at how the importance of certain staff roles has shifted inside the current environment. As mentioned, technology has always played a key role in banking and banks have very competent resources in this regard. Yet, in a tech company, coding and development skills are lauded and staff with these roles play pivotal parts in business design. Banks, on the other hand, often see technology as a horizontal operation, there to support all teams agnostically. These teams also tend to not have physical proximity with revenue generating functions, seen from the popularity of hubs in offshore locations, from Budapest to Bangalore.

To foster innovation better, revenue generating teams should integrate critical support functions into their front-office operation. Core banking is essentially a commodity service; what separates the wheat from the chaff is the strength of qualitative aspects (deal-making ability, reputation, and connections) and technology (speed of execution, software employed, and settlement reliability). Rewarding those who assist the latter with more variable compensation tied to team performance will incentivize those employees to devise innovative changes and also increase the attraction of remaining in banking.

What Will the Future of Banking Look Like?

The movement of unbundling the bank, which follows the ethos of using division of labor to specialize in doing certain tasks well, is a lesson for the future for incumbent banks. Full-service banks are siloed machines that function by performing set tasks within divided units. Over the years, these have added up to be both rigid and expensive to the end user, which has inspired the fintech revolution to innovate around creating solutions to needs. PWC illustrates the mentality change needed by banks well through the following infographic:

Figure 3: Fintech and Banks: The Future Operational Structure of a Bank

In my opinion, in the future, there will be two types of large banks: One will be simple but effective traditional banking units that provide consumers and business with vanilla services for spending and borrowing/lending. The second will come in the form of a holding company that controls investments in a number of independent firms offering the unbundled variants of banking that fintech is espousing.

As a holding company, these investments within each entity will be as going concerns, with no terminal pressure to exit. This kind of liberation will allow each unit under the umbrella to operate freely within their own cost, technological, and cultural constraints. For the owners of the holding company, they will retain the exposure to a “banking conglomerate” but in a far different manifestation and coexistence of fintech and banks to what we see in current times.

Understanding the basics

The financial services industry plays an intermediary role in the the world economy, helping consumers, corporates, and governments transact. A broad range of businesses serve this sector, ranging from banks to credit card companies.

Financial services is divided into five high level sectors: banking, borrowing, lending, investment, and advisory services. Banking consists of the storage and means of transacting money for products and services.

Fintech is the application of technology to assist with the provision of financial services. In modern times, this has largely consisted of delivering service and price improvements through using scalable technology to reduce the cost of running a financial services operation.

A fintech company can apply to traditional industry players like banks or to new startups. It typically eschews large fixed asset infrastructure and focuses on delivery of a single product or service in a specialized manner.

A financial technologist works within the financial services sector and and applies scalable technology to existing processes. The role combines skills gained from classical financial theory and business models with deep knowledge of technology, such as coding or big-data processes.

Источник: https://www.toptal.com/finance/investment-banking-freelancer/fintech-and-banks

Associate, Finanical Technology Investment Banking, BCMA

Job Req ID 21260456Primary Location New York, New YorkJob Category Institutional Banking

Apply Now

The FinTech Investment Banking Associate is an intermediate level position responsible for assisting clients in raising funds in the capital markets, as well as in providing strategic advisory services for mergers, acquisitions and other types of financial transactions in coordination with the Institutional Banking team. The Investment Banking Associate also serves as an intermediary in trading for clients. The overall objective of this role is to act as a strategic advisor to our clients by formulating investment strategies and raising capital for clients.

Responsibilities:

  • Assist in the execution of Citi’s Investment Banking business activities
  • Leverage past investment banking or related experience to enhance M&A execution and capital raising capabilities
  • Contribute to building Citi’s franchise
  • Manage and mentor analysts by providing detailed guidance and feedback, managing information flow, and providing credit and exposure information to analyst, as appropriate
  • Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.

Qualifications:

  • 5-8 years of relevant experience
  • Bachelor’s degree in Finance or closely related areas of Business Administration Master's degree in Business Administration
  • Experience in evaluating corporate transactions and structures
  • Experience creating financial analyses
  • Demonstrated problem solving and organizational skills
  • Consistently demonstrates clear and concise written and verbal communication skills
  • Experience assisting with client development
  • Ability to work with teams and track business development (collect research, analyze industry trends)
  • Series 79 and 63 licenses

Education:

  • Bachelor’s degree/University degree or equivalent experience

This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.

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Job Family Group:

Institutional Banking

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Job Family:

Investment Banking

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Time Type:

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Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Citigroup Inc. and its subsidiaries ("Citi”) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi.

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We foster a culture that embraces all individuals and encourages diverse perspectives, where you can make an impact and grow your career. At Citi, we value colleagues that demonstrate high professional standards, a strong sense of integrity and generosity, intellectual curiosity, and rigor. We recognize the importance of owning your career, with the commitment that if you do, we promise to meet you more than half way.

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Источник: https://jobs.citi.com/job/new-york/associate-finanical-technology-investment-banking-bcma/287/4792968480

Where we’re headed

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates. 

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To view Bank of America’s Drug-free workplace and alcohol policy, CLICK HERE.  

Источник: https://careers.bankofamerica.com/en-us/company/future-vision

Explore Tech, hosted by Laurent Mignon, Chairman of the Management Board & Chief Executive Officer - Groupe BPCE, and Nicolas Namias, Chief Executive Officer of Natixis, is Natixis Corporate & Investment Banking’s first event dedicated exclusively to the topic of technology. This first edition, featuring over 30 speakers in six round tables, brought together key experts to discuss the opportunities companies are creating through the adoption of deep technologies, including in the energy, mobility, real estate, consumer goods, healthcare and insurance sectors. On this occasion, Natixis Corporate & Investment Banking and Boston Consulting Group presented their new report, Big Business Digs into Deep Tech, based on surveys carried out between April and June this year with 226 European companies across 10 sectors.

A powerful wave

The report finds that 90% of European companies are investing in deep tech, and that almost half (45%) are planning to increase such direct investments. The contrast with the general decline of 8%[1] in overall capital expenditures by companies since the global financial crisis indicates the importance accorded to such breakthrough, potentially transformative, technologies, with the main reason given for investing in deep tech projects being to build a long-term advantage over peers.

The covid-19 crisis has speeded up this trend, with 78% of companies having maintained or even accelerated their investments in deep tech since the beginning of the pandemic. The success of mRNA-based vaccines has been a catalyst for investment in biotechnology, while the crisis has spurred increased investment by companies across a range of emerging technologies including digital traceability tools, smart contracts, augmented and virtual reality (AR/VR), and digital assets. Climate change and the environmental crisis are also increasingly serving as drivers of investment, with over half (54%) of respondents viewing deep tech as critical to meeting climate goals, notably in the chemicals, energy, telecom and transportation sectors.

The disruptive power of deep tech

The most mature technologies with proven use cases and return-on-investment are the focus today, but interests in newer deep technologies is growing. Artificial intelligence (AI) and cognitive algorithms are seen as most relevant (by 60% of respondents) notably in healthcare for analysis of medical imaging, and increasingly in diverse areas such as speech recognition, sentiment analysis, risk assessment and fraud detection. Blockchain technology is similarly being adopted for diverse ends, including in traceability in supply chains and tokenization in markets such as art and real estate, although companies continue to struggle with its drawbacks such as volume limitations and energy consumption. Uses of AR and VR are also proliferating, notably among companies in the retail and consumer goods sector as well as in real estate, where virtual visits are potential game changers in the transaction and construction processes.

People and partnerships matter

The report revealed that embracing deep tech requires more than just financial investment, and that the main barriers to adoption of such new technologies are human, namely managing change (identified by 72% of respondents) and attracting talent (55% of respondents). Furthermore, the difficulty of implementing deep tech is greater at the beginning of a company’s deep tech journey, when teams may be more risk averse and less interested in technology, while companies more used to such change embrace new technologies more easily.

Technology – a major priority for Natixis Corporate & Investment Banking

Natixis Corporate & Investment Banking aims, under Groupe BPCE’s strategic plan, to further develop its expertise in the technology sector in order to accompany its clients in the transformation of their businesses through deep tech investments. To this end, Natixis Corporate & Investment Banking has decided to create a Tech Hub that will bring together the expertise of its teams in order to establish a high value-added dialogue with its clients on technology-related topics. The publication of the report Big Business Digs into Deep Tech and the organization of the first Explore Tech event are fully aligned with this strategy by providing clients with insights into the opportunities presented by the fast-changing field of deep tech.

Nicolas Namias, Natixis CEO, said: “Explore Tech, this new event created by Natixis Corporate & Investment Banking, reflects our firm ambition, shared with the whole of Groupe BPCE, to contribute to the momentum required to accelerate the digital transformation. To support our clients in their technological transitions through an offer adapted to their innovation projects, we have decided to build a Tech Hub that will draw on the broad expertise of Natixis Corporate & Investment Banking and more widely of Groupe BPCE.”

Источник: https://pressroom-en.natixis.com/news/european-companies-investing-heavily-in-deep-tech-finds-natixis-corporate-investment-banking-and-boston-consulting-group-report-98c7-8e037.html
what is technology investment banking

4 Replies to “What is technology investment banking”

  1. I think the trick is that they want you to open an account first and THEN they teach you

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