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Oct 12, 2022 8 tweets 5 min read Read on X
Welcome to Day 3 of #Sibos.

This morning, we're bringing you highlights from @joymacknight's Inside Leadership interview with @BankofAmerica's Vice Chair, Cathy Bessant.
"There are 1.5m jobs in cyber alone that are unfilled today," says Bessant. "Our job is to train people for the skills we need today and in the future. Technology can be learned. We don't need more workers, we need the right skills."

#Sibos
On how to attract great technologist talent to #TransactionBanking, Bessant says that "if you solve a transaction banking problem, you're solving a problem for a lot of users. People love solving problems at scale."

#Sibos
"Empathy is un underplayed skill. It's the most important skill of the future," says Bessant. "Problem solving and creativity are the superpowers of the future. Every time we're responding to an RFP, we're not problem solving."

#Sibos
"Resiliency is a table stake for a digital world," says Bessant. "'Digital/security/resilience by design' is essential for a world at stress. We need to think about the public infrastructure for the world in which we do business."

#Sibos
"Cash is not gone," says Bessant. "We need to think about how we provide cash when the infrastructure that supports the system is down, in times of stress."

#Sibos
"Cyber is so interesting," says Bessant. "We cannot get lost in inherent risk. It's infinite. In some boardrooms they get lost in that. We need to focus on having the best tech and the best team."

#Sibos

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More from @quant_network

Apr 18, 2023
Follow us for live highlights from today’s #CBDC discussion at #IFGS

#IFGS2023
On the panel with our CEO @gverdian are:

- Josh Lipsky, @AtlanticCouncil; and
- @MarionLaboure of @DeutscheBank

#IFGS #IFGS2023 ImageImage
“When it comes to retail CBDCs, the question is not whether it will happen but when,” says @MarionLaboure.

#CBDC #IFGS #IFGS2023 Image
Read 8 tweets
Apr 17, 2023
“The bad news is I’m a central banker and we don’t tend to speak for less than 45 mins. The good news is I’ll be about 25 mins today,” jokes Sir Jon Cunliffe of @bankofengland.

#IFGS #IFGS2023 Image
“As the use of cash has diminished, commercial bank digital money has come to dominate transactions in the UK,” says Sir Jon Cunliffe of @bankofengland. “But we will continue to issue cash as long as there is any demand for it.”

#IFGS #IFGS2023 Image
“Tokenisation and smart contracts offer many benefits,” says Sir Jon Cunliffe of @bankofengland. “This has major implications for us. We’re ultimately responsible for ensuring that each of the monies circulating is robust and uniform.”

#IFGS #IFGS2023 Image
Read 8 tweets
Mar 23, 2023
Starting at 14:00 London time today:

@gverdian will be appearing on @FutureofFinanc3's panel discussing how CBDCs will happen in the major global currencies.

Register here: futureoffinance.biz/is-this-how-cb…

Or follow us for live highlights.

#CBDC #CBDCs #DigitalCurrency
@gverdian @FutureofFinanc3 Joining @gverdian will be:

Todd Ricardo Correia, from @inside_r3;

Barney Reynolds, Partner, Global Head Financial Institutions, at @ShearmanLaw; and

Keith Bear, Fellow at the Centre for Alternative Finance, @CambridgeJBS.

The panel will be moderated by @Dominic_Hobson.
Follow us for live highlights.

#CBDC #CBDCs
Read 18 tweets
Feb 7, 2023
“As the world around us and the way we pay for things becomes more digitalised, the case for a digital pound in the future continues to grow," says Andrew Bailey, governor of the @BankOfEngland.

#CBDC #CBDCs #DigitalCurrency

cityam.com/britcoin-bank-…
“While cash is here to stay, a digital pound issued and backed by the @BankOfEngland could be a new way to pay that’s trusted, accessible and easy to use,” chancellor @Jeremy_Hunt said.

#CBDC #CBDCs #DigitalCurrency

cityam.com/britcoin-bank-…
“CBDCs could equip central banks with new tools to significantly help soften the impact of forthcoming financial crises, given they would provide a real-time view of risks and currency outflows,” @techmjh, our Chief Product Officer said.

#CBDC #CBDCs

cityam.com/britcoin-bank-…
Read 4 tweets
Nov 4, 2022
Our CPO, @techmjh recently spoke to Lauren Mills at @IPEnews in an article, ‘Private markets: Is tokenisation a good idea?’

He says, “blockchain will have massive transformational impact across the whole of financial services.”


A thread🧵

1/5
Martin adds, “tokenisation reduces the need for intermediaries and time-consuming manual processes. With a correctly set-up token, you can also see the beneficial owners of the underlying assets, reducing the cost of compliance and anti-money laundering procedures.”

2/5
“Over the next few years, trust will be a huge factor that determines the adoption rate of tokenisation within asset management. Investors will need certainty that fund managers can link the token to the real economic rights of the underlying asset,” says @techmjh.

3/5
Read 5 tweets
Oct 13, 2022
Next up here at #Sibos: Servicing #DigitalAssets - Who will win the battle?

#Sibos2022
We'll hear from Caroline Butler of @BNYMellon, Nadine Chakar of @StateStreet, Justin Chapman of @NorthernTrust, Stephen Prosperi of @The_DTCC, and Samuel Riley of @Clearstream.

#Sibos #Sibos2022
"It makes sense for us to lead with custody," says Butler. "We see it as foundational - execution is next. Clients come to us for trust, innovation, and client experience. Interoperability is key."

#Sibos #Sibos2022
Read 14 tweets

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