Julie Gerdeman’s Post

I applaud BNY Mellon's Board and its foresight on Innovation and Technology. It is one of the first Boards to establish an Innovation & Technology board committee, and the rewards they are reaping are proof that readiness trumps prediction. 🚀 Thanks to the legend, Nicholas Donofrio's vision and leadership on Board Excellence. Robin Vince is a visionary in avoiding predictable mistakes and making work human. At CNBC, he is not talking about the banking business alone; he says he is in the preparedness business. Robin says his clients are witnessing real strengths in the labor market, and he is all-in on artificial intelligence (AI) innovations. 1️⃣ Through responsible implementation of AI, he aims to enhance business resilience and deliver exceptional value to his customers. 2️⃣ In a fresh take on AI's role, Robin discusses the robustness of the banking sector. It's about utilizing tools like AI as a lever to empower his employees and run his company more efficiently. 3️⃣ The vivacity of the US economy and the liquidity in the capital markets act as powerful enablers. The additional yield and the positive psychological impact of healthy 401Ks contribute to a thriving financial environment. 4️⃣ AI is indeed super interesting he says – not as a buzzword, but as a practical tool. And when we talk about implementing AI, it's about doing so responsibly. It's about leveraging technology to amplify our strengths and secure our future. If you like this post, subscribe to my LinkedIn newsletter  👉🏿 https://lnkd.in/grAy93cJ * Christopher Hetner #CEO #CIO #CTO #CISO #KSgems #newsletter #boardofdirectors #boardgovernance #boardleadership

Citi Ventures maps out horizontal financial services-focused and #vertical #financialservices-specific #generativeAI applications; here are the latter: 🔹 Personal Finance Management GenAI has the potential to help realize the long-awaited dream of “self-driving money.” 🔹 Wealth Advisor Enablers GenAI is helping optimize wealth advisors’ workflows. 🔹 Investment and Financial Analysis GenAI can optimize workflows for investment professionals by automating analysis and enabling more efficient data access. 🔹 Chief Financial Office (CFO) Stack GenAI can improve how all businesses perform their internal financial activities by automating workflows and providing deeper insights. 🔹 Lending GenAI is helping streamline and democratize lending processes via automation. 🔹 Payments and Commerce Finally, GenAI is opening up myriad new opportunities in the payments and commerce space. For the full article go here: https://lnkd.in/gHpEG5Xa

This weekend, I got a chance to go through the widely discussed McKinsey & Company report, "From ripples to waves: The transformational power of #TokenizingAssets." It struck a chord with my own journey from traditional banking to Web3. After years in #banking, I made the leap into #Web3 a while back, and what an experience it's been! The transition has given me a unique perspective on the evolving landscape of #AssetTokenization On one side, I still encounter skeptics asking: "What does #tokenization actually do?" On the other, I'm immersed in discussions about solutions for #MassAdoption. This dichotomy perfectly illustrates where we are in the tokenization journey, and the McKinsey report captures this brilliantly We're at a tipping point where #tokenization is moving from experimental to transformational. The potential is enormous - from increased operational efficiency to new revenue streams and enhanced liquidity Yet, as the report highlights, we're facing a classic "cold start" problem. We need both issuers and investors to drive adoption, but each is waiting for the other to make the first move. My takeaway? The future belongs to those willing to build "minimum viable value chains" now. It's not just about the technology - it's about assembling the right partners to create real-world use cases that deliver tangible benefits The waves are coming!! #WeekendReading #Tokenization #Mckinsey #ColdStart #DigitalAssets #VirtualAssets

Citi Top Tech Takeaways: “You Have to Spend to Make Money” • After a summer of consolidation, the Nasdaq composite made a fresh record high last week. Market-leading tech shares then fell back as large platform companies reported sharp increases in their investment spending on AI. All five of the “Magnificent 7” firms that reported EPS beat consensus expectations. • Whether today’s strong investment spending on AI will fully pay off in future profits has been an ongoing concern. Another risk is that the large firms compete more directly with each other than they have in the past. • High valuations have been a worry for some investors, but valuation has rarely been a performance catalyst for profitable tech firms with solid balance sheets. Instead, shares have fallen and underperformed sharply when profits declined (notable drops were seen in 2000 and 2022). EPS gains for the Mag 7 were 43.3% in 2023. Consensus sees a 28.2% EPS gain in 2024 and 18.3% rise in 2025.

In the fintech industry, customer centricity is not just a buzzword; it’s a critical strategy for success. By placing customers at the core of product development, we can create solutions that genuinely address their pain points and aspirations. Understanding customer needs leads to innovative features and enhanced user experiences, fostering loyalty and trust. A customer-centric approach encourages continuous feedback loops, allowing us to iterate and improve our offerings. This adaptability not only helps in meeting current demands but also anticipates future trends, keeping us ahead of the competition. In a rapidly evolving market, businesses that prioritize their customers will not just survive—they will thrive. Let’s champion a culture of empathy, innovation, and responsiveness. When we listen, we learn, and when we learn, we lead! Broadridge Broadridge India #CustomerCentricity #Fintech #Innovation #UserExperience #CustomerFeedback #BusinessGrowth

Yesterday I had the pleasure of attending FinTech Global's Global WealthTech Summit, which featured leaders from both wealth management firms and leading fintechs.   Here are five takeaways / insights:   💥 The buzz around AI is at a fever pitch.  Though many people I spoke with were cautious about how soon AI will transform the industry, there was unanimity around its ability to drive incremental improvements to client service and enhance middle / back office efficiency today. 💫 On the other hand, concerns around AI are real. It’s not just because of the tangible issues around data security and the quality of results (e.g., AI bias and so-called “AI hallucinations”) - it’s also due to client worries about how their information is being used. Privacy is at the forefront of clients’ minds, and many firms believe even small lapses could seriously impact firm / advisor choice. Virtually every firm said that AI will be in the background (i.e., non-client facing) for the foreseeable future. 🖥 Wealth management firms’ need for data is expanding. Whether it’s accessing non-financial data such as life events from social networks or integrating sustainability reporting data for ESG investing, the old view of market data won’t cut it in today’s environment. Firms need to figure out not only how to acquire the data, but also how to integrate it so it can be effectively deployed and leveraged in downstream applications. 🤖 There is a lot of focus on how technology is being used to augment client experience. Increasingly, firms can offer all clients unprecedented personalization at scale due to big data analytics paired with significantly upscaled processing capacity and cloud computing. On the highest end, a new species of “hyper-personalized” relationships are emerging to ensure all the needs of ultra-high net worth clients are met. 🖇 Building the right operating environment is critical to make sure firms stay competitive. For example, private equity backed RIA roll-ups who have previously operated as holding companies with multiple CIOs / CTOs and tech stacks will be under pressure to move to a single operating environment. Similarly, the pressure for traditional asset managers to deliver lower-cost, higher-scale solutions could lead to more consolidation in the space (though it could also encourage more entry into alternative investments where more differentiation may be possible). #GWTSUS24 #wealthtech #wealthmanagement #fintech

According to Accenture, companies that view customer service as a value center, rather than a cost center, see 3.5 times greater revenue growth. But why? ⬇ 👀 Walt Granville, Head of Growth Strategy at Everyware®, explains how we are the midst of a "fintech revolution", giving businesses increased opportunities to expand their reach & enhance their service offerings and drive innovation. Although, it's the experience-driven fintechs that offer dedicated support, intuitive interfaces and streamlined processes help to create a standard of positive, responsive interactions for the businesses they support, who will stand out from the competition. Here are just a few of the reasons why service-oriented fintechs will better help companies differentiate and capture market share: 1. Understanding Business Needs and Ecosystem 2. Ability to Innovate 3. Faster Go-to-Market Speed Read the full list for a better understanding on how securing service-oriented fintech partnerships leads to higher satisfaction levels for businesses and their end-users in the competitive financial services industry: https://lnkd.in/gYnERk_Y #FintechNews #Fintech #CustomerService #CustomerSupport

Family Office Wealth Management. BNY Mellon has released a report on family office wealth management. Of the 189 interviewed, 80% are US offices with 90% between US$250M - $5bn. It's getting increasing difficult to find unique insights from the sheer volume of these reports coming online, with most pointing to the same thing - a move to alts and private markets, crypto curious, AI and other tech are becoming more front of mind, geopolitical risk and the impact of inflation remain concerns. So what nuggets of insight did I find in this one? * 71% are looking to invest directly in the coming year. * AI is grabbing interest but so is Sustainable Investing * When it comes to investment decisions, AI and Machine Learning are ahead of data measurements such as risk management and way ahead of consultants. (below). Anecdotally, ChatGPT and other platforms are taking on a lot of the heavy lifting for family offices, particularly those with less resources. As a first point of call for feedback or becoming imbedded in the decision process. I meet with a lot of firms at the very pointy end of data management so it's interesting to see how this will all pan out. Currently I'm seeing improvements in onboarding and cleansing client data which is a major pain point, fingers crossed it keeps up momentum. For more family office insights, subscribe to the Sherpa newsletter here: https://lnkd.in/gvBHfud5 Download the BNY report here: https://lnkd.in/gi5wNAPk #familyoffice #wealthmanagement #assetmanagement #familyoffices

Banking's AI revolution: Upskill your workforce or risk falling behind! Dr. Bridie Fanning (@Accenture) urges prioritizing people & retraining for a future-proof industry. Read more in @AmericanBanker. https://accntu.re/3W1HFq6

Ensuring people development stays at the center while embracing technology evolution. As the #banking industry embraces #GenerativeAI and new technology, how can they place people at the center of change and expand their skill sets? Addressing these issues is important, says Dr. Bridie Fanning at Accenture - and keeping people engaged is a real challenge. Read more in American Banker. https://accntu.re/3W1HFq6