State Street Corporation, (State Street), NYSE:STT today announced that its board of directors has appointed Lou Maiuri, previously head of State Street’s Global Markets and Exchange businesses, to the role of Chief Operating Officer.  In this capacity, he will have overarching responsibility for State Street’s IT, Global Delivery, Global Exchange, Charles River Development and Product teams. Maiuri will continue to serve on State Street’s Management Committee and report to President and CEO Ron O’Hanley. 

GoldenSource today announced that it has been selected by Apex Group Ltd. (“Apex”), the world’s fifth largest fund administrator, to deliver its centralised pricing and reference data service. 

GoldenSource’s EDM SaaS solution delivers improved operating and cost efficiencies through the standardisation of data management across multiple business functions. Apex plans to leverage the platform to support its ongoing impressive growth trajectory with the smooth integration of systems and applications.

Paragon

Nivaura, a regulated FinTech company focused on automating the issuance and administration processes for financial instruments, has closed a strategic funding round, raising $20m in seed and seed extension capital from a number of prominent partners.

Leading the industry with solutions supporting digital financial services offerings, NICE Actimize, a NICE (Nasdaq: NICE) business and the leader in Autonomous Financial Crime Management, was selected by Circle, a leading global crypto finance company, to implement its market surveillance and protections strategy.

Temenos, the banking software company, today announced that Al Rajhi Bank, Saudi Arabia’s second largest bank and the world’s largest Islamic bank with total assets of over $97bn, has chosen Temenos to power its digital transformation journey and enhance its Islamic lending and financing product capabilities. The bank has opted for a complete renovation using Temenos T24 Transact as well as a host of additional digital solutions including Temenos Infinity and Temenos Loan Origination product. 

Bank of China has chosen Wolters Kluwer’s OneSumX for Regulatory Reporting to provide its regulatory reporting calculation and submission software for its operations in Australia.

More than half (52%) of senior decision-makers in financial services organisations across the US and Europe, said they look to update or replace in-house solutions because they become technologically outdated. That’s according to a new in-depth study, commissioned by Asset Control.

Further underlining the ongoing need to adapt their in-house technology, 49% of the sample said they were driven to schedule changes by ‘the increase in digitalisation within the business’ and 48% by ‘the need to keep pace with the competition’.

More than 40 leaders in the banking industry in West Africa region will gather in Lagos, Nigeria between the coming 23 -24 April, to discuss efforts aiming to increase financial inclusion across West Africa region by 2020 in the Future Banking Tech West Africa Summit.

Ahead of the Derivative Sales and Trading Transformation Conference , we spoke with Sushil Krishan, Director, Institutional Equity Derivatives Flow and Solutions Sales at UniCredit  about the main consequences of technological advancements on the Derivatives Sales and Trading industry as well as the implementation of a ‘high-touch’ and ‘low-touch’ sales structure.