In other FinTech news, Eagle expands relationship with Great Eastern, NICE Actimize gets into the consultancy business, and Broadridge tests blockchain proxy voting in Japan.
David Weber to Serve as CFO &COO for AxiomSL
AxiomSL, a provider of regulatory-reporting, risk and data-management services, reports the appointment of David Weber as chief operating officer (COO) and chief financial officer (CFO).
Weber is a financial services industry veteran, with more than 30 years of financial management and operations experience, AxiomSL says. He joins from Charles River Development, where he had been CFO since 2006.
His management responsibilities at Charles River included finance, accounting, human resources, legal and general operations of the business, per AxiomSL, which also notes that he also played an “instrumental role” in CRD’s recent sale to State Street Corp.
Weber succeeds Eyal Amsalem, who had been AxiomSL’s CFO since 2008. Amsalem will remain at AxiomSL as its chief administrative officer, according to the vendor’s statement.
Eagle Investment Systems Expands Great Eastern Relationship
Great Eastern, a major financial services company serving Singapore and Malaysia, has selected Eagle Access, a private cloud service, and the Eagle Investment Book of Record (IBOR) solution from Eagle Investment Systems, a BNY Mellon company.
The agreement builds upon Great Eastern’s current relationship with BNY Mellon Asset Servicing, and will mean that Great Eastern will transition its current data management solution to Eagle Access and create an IBOR to bolster the firm’s investment decision-making capabilities, officials say. Great Eastern is a longest-standing Eagle client, having used its data management solution on premise since 2010.
“Moving onto Eagle’s hosted solution will further enhance our investment decision-making capabilities,” says Ronnie Tan, group chief financial officer (CFO) of Great Eastern, in a prepared statement. Great Eastern reports that it has S$85.4 billion (USD $62.3 billion) in assets, and as an insurance company in Asia, offers life and general insurance solutions to more than 4 million policyholders, officials say.
“We are seeing more and more firms across Asia move onto the cloud, as central banks become more comfortable with the technology,” says David Ingleson, head of APAC, Eagle Investment Systems, in a statement. “We’re also seeing a greater number of financial institutions in the region developing IBORs.”
Great Eastern, which has four million policyholders, includes a financial advisory firm, Great Eastern Financial Advisers. The overall group also operates in Indonesia, Brunei, has a presence in China and a representative office in Myanmar, officials say. Great Eastern is a subsidiary of OCBC Bank, whose key markets are Singapore, Malaysia, Indonesia and Greater China.
NICE Actimize Launches Financial Crime Consultancy
NICE Actimize, a provider of financial crime prevention and detection systems, reports the launch of eCAP, its consulting and advisory practice. ECAP will operate across the Americas, Europe, the Middle East and Africa, and the Asia-Pacific region, according to the vendor.
“Banks are looking to future-proof their financial crime investments,” Chad Hetherington, global vice president, professional services, NICE Actimize, says in a statement. “They’re taking a look at their overall footprint, and asking themselves how they should best leverage emerging technologies.
A NICE Actimize eCAP advisor will “identify inefficiencies and provide guidance to help reduce costs and improve the effectiveness of … existing programs,” the vendor says, spotlighting its target-operating-model system, which “provides customers with a strategic roadmap on which to build their Financial Crime programs.”
Broadridge & ICJ Test Blockchain Proxy Voting in Japan
Broadridge Financial Solutions, Inc. and ICJ, Inc., a joint venture between Broadridge and the Tokyo Stock Exchange, have conducted their first demonstration of blockchain-based proxy voting in Japan.
Developed specifically for the Japanese proxy market, the distributed ledger technology (DLT)-based system (employing Quorum, a type of Ethereum, as the underlying technology) mirrored the proxy voting processes on the ICJ electronic voting platform, the vendors say.
In March 2018, Broadridge notes, it employed blockchain for investor voting at an annual general meeting with Banco Santander, in partnership with custodian banks Northern Trust and JPMorgan. Then, in May 2018, Broadridge patented its blockchain technology for proxy voting and repo trading.
ICJ provides electronic proxy-voting platform services for the shareholder meetings of Japanese issuers.
Broadridge’s infrastructure underpins proxy voting services for more than 50 percent of public companies and mutual funds globally, the vendor says, and it employs more than 10,000 full-time associates in 18 countries.
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