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Eyal Nachum Introducing Role of Technology in Finance

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Evelyn Frankline
Eyal Nachum Introducing Role of Technology in Finance

Today technology plays a key role at investment banks and other sectors in the financial arena.

Some of the fastest, most sophisticated, and rapidly developing systems are now driving trading floors of Investment Banks. Meanwhile, asset management companies are creating more and more composite investment management and risk analysis tools. Moreover, across the financial sector, the opportunities provided by new technological events such as cloud computing and "big data" analysis are being discovered.

Some people working in finance technology are focusing on building specific technological tools, while others are managing projects or planning a business’s use of technology from a commercial outlook. You could be functioning directly with a particular business area, or working on technology matters that affect the whole association.

Here are a few examples of particular roles technology teams play in finance:

Responsibility to design a trading system, which allows traders to price products in a new asset class efficiently.

Technology teams will be responsible to code the system from scratch, develop a feature that helpstraders to check the risk associated with any particular product, allow traders to get market information relevant to that asset class promptly, and cooperate with traders to make sure the system meets their requirements on an ongoing basis.

Technology teams will analyze what should be done first and how to prioritize other tasks, redirect all procedures to backup systems and ensure they are working effectively, track the development of all steps taken, and make sure coordination between the technology team and other employees and clients is going properly.

An innovative combination of finance and technology is changing the way of doing business and opening doors to progressive start-up firms. Financial technology, often called FinTech, is completely changing financial transactions, services, and online security, says Eyal Nachum (the co-founder of Moneta International). Due to the obsolete, expensive, and inefficient infrastructure of conventional financial services, Fintech is shaking things up.

“The world is moving towards simplification and transparency. The competitive benefits of universal banks have fallen down and the door has opened for FinTech innovation and competition.”

Use of technology in finance has the possibility to change the nature of business with innovations. For example, smart contracts altering the way suppliers and clientele work together, alternative finance offering simple access to capital for SMEs and for society at large by undertaking the problem of financial inclusion.

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