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Tech Leaders Spotlight: Industry Updates, User Cases, and Business-driven IT Approach

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11 July 2022
Eiichiro Yanagawa

A recap of TFITS 2022, Part 1: Tech panel

Tokyo Financial Information & Technology Summit (TFITS) is the only event in Japan focused on the opportunities and challenges facing IT, data, and operations executives from financial institutions.

TFITS is a hybrid conference hosted by WatersTechnology and sponsored by six solution providers across APAC, with 25 speakers and 250+ delegates. The 2022 in-person summit was held on June 29 and featured an agenda packed with practical insights on a variety of topics, including:

  • Tech Leaders Spotlight: Industry Updates, User Cases, and Business-driven IT Approach
  • Data Leaders Spotlight: Trends and Innovation in Quantitative Analysis and How to Drive Business Outcome
  • Investor Spotlight: Build Resilience to Your Portfolios with Extensive Automation
  • Trading Panel: Operational Alpha in Capital Markets: Achieving Cost Efficiency and Resilience
  • Remote Working Spotlight: Implication on Operating Models and Risk
  • Cloud Panel: Migration to Cloud―What Is There to Keep from Your Legacy System

I had the privilege of moderating a main stage strategic panel discussion titled “Industry Updates, User Cases, and Business-driven IT Approach.”

OUR ESTEEMED PANELISTS:

  • Noritoshi Murakami | Managing Director, Head of Transaction Banking Division, MUFG Bank, Ltd. || Director of Board, SWIFT
  • Atchutarao Killamsetty | IT Country Manager, Schroders Investment Management

This year's opening panel featured two thought leaders with deep knowledge of Tokyo's financial and capital markets. They discussed technology modernization; cross-functional efforts across sell-side, buy-side, banking, and market infrastructure; and efforts to integrate front, middle, and back end systems and business unit initiatives, as well as their potential and challenges.

Panel topics included the following:

  • Emerging technologies and their impact on the financial industry, and how to deal with growth and uncertainty
  • Business and IT priorities, IT best practices, and standardization trends such as ISO 20022
  • How to develop technology talent and discussion of the state of IT and business organizations and new value creation in the community

At the beginning of the panel, Celent gave a short keynote on global trends in emerging technologies.

MODERATOR KEYNOTE: “Industry Updates, User Cases, and Business-driven IT Approach”

1. Market trends and top technology trends

  • Capital Markets Now: The Haves and Have-Nots (of Complex Technologies)
  • Capital Markets’ 5 Technology Trends and 10 Priorities

2. Implications for the Japanese market

  • IT Investment Objective Perspective: What is the split ratio between technology for "organizational operations" and "organizational innovation"?
  • IT investment priorities: Which of the key technology trends is your company most focused on?
  • Domino effect to digital assets: How prepared are you for the invisible continent?

The pandemic accelerated the adoption of new technologies, and financial institutions in the capital/financial markets appear to have regained their profitability and technological attractiveness. However, it has turned competition in the marketplace into an offensive between the complex technology haves and have-nots. This keynote presentation highlighted key trends and strategies from the 2022 Capital Markets Technology Outlook and discussed the secrets to success in the red ocean, blue ocean, and yachts, old and new.

In terms of UX, the industry has long been calling for a shift to customer-centricity. In reality, financial institutions probably still have a ways to go when it comes to designing the best user experience. In fact, in the fintech industry, the ratio of UX to developers may be 1:4, but this is not the case in the capital markets.

In terms of scaling, the need to simultaneously achieve business growth and efficiency has made retraining and upskilling staff a necessity due to increasing IT and infrastructure costs. Becoming a data-driven company requires citizen data scientists, which will further accelerate the need for investment in platforms.

Today's technology is evolving IT platforms into an arena for business collaboration that leverages network effects and co-creation within the financial institution's organization and with its customers.

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