FIO stays cool in July

Continuing on our journey to build FIO, we met with multiple prospects across the region to understand the challenges and new opportunities that banks are facing.

The march to digital transformation is in full swing and the regions are on different stages of their journey to digitise their corporate and wealth experience.

Read further to see about one of the new and interesting topics that some banks are pursuing!

To encrypt or not encrypt, that is the question

Homomorphic encryption is a type of encryption that allows computations to be performed on encrypted data without decrypting it first. This means that you can, for example, add, subtract, multiply, and divide encrypted data without knowing what the unencrypted data actually is.

Homomorphic encryption has a number of potential applications in financial services, including privacy-preserving analytics, secure multi-party computation, and auditing.

One example of how homomorphic encryption is being used in financial markets today is in risk assessment. Homomorphic encryption can be used by banks and investment firms to assess the risk of trading in encrypted market data without having to decrypt the data first. This helps to protect the privacy of market participants' financial information while still allowing banks and investment firms to make informed trading decisions.

Another example is in regulatory compliance. Homomorphic encryption can be used by financial institutions to audit their compliance with regulations without having to decrypt sensitive data. This helps to protect

the privacy of customers' financial information while still allowing financial institutions to demonstrate compliance with regulations.

Homomorphic encryption is still a relatively new technology, but it has the potential to revolutionize the way that financial services are conducted. By enabling privacy-preserving analytics, secure multi-party computation, and auditing, homomorphic encryption could help to make financial services more secure, efficient, and transparent.

Amol Pai to Moderate Panel Discussion on the Future of Applications in the Enterprise at CIO&Leader Conference

Amol Pai, CTO of FIO, will moderate a panel discussion on the future of applications in the enterprise at the 24th CIO&Leader conference in Agra on Friday, August 4, 2023.

Panelists

The panelists for the discussion are:

• Deepak Sharma, President & Chief Digital Officer, Kotak Mahindra Bank

• Rahul Chopra, Director & Head of Digital, PNB MetLife India Insurance Company

• Abhijit Chakravarty, SVP - IT, HDFC Bank

• Mahesh Patil, SVP - IT, Axis Bank

The panel discussion will explore the challenges and opportunities facing enterprises as they modernize their application portfolios for the cloud era. The panelists will discuss the role of emerging technologies such as AI, IoT, and blockchain in shaping the future of enterprise applications. They will also share success stories of innovative applications that are driving business growth and efficiency

Register for the Conference

website: https://www.cioandleader.com/

Murex, LSEG & AWS join forces on real-time data

The London Stock Exchange Group (LSEG) and capital markets trading and risk solutions provider Murex have expanded their connectivity to enhance real-time data services for their clients.

Following the expanded connectivity, Murex's MX.3 platform can now be directly connected to LSEG's real time market data service, Real-Time – Optimised (RTO), using Amazon Web Services (AWS). This means that Murex clients using the platform can now choose how to consume real-time market data, with the option to use three deployment models that LSEG offers: RTO, Real-Time Managed Distribution Service (RTMDS), and Real-Time Distribution System (RTDS).

The expanded connectivity is expected to improve the performance and reliability of real-time data services for Murex clients, while also reducing the cost of data delivery. This is a significant development for the capital markets industry, as it provides a more flexible and cost-effective way to access real-time market data.

The expanded connectivity is part of a wider collaboration between LSEG and Murex, which is aimed at developing new cloud-based solutions for the capital markets industry. This collaboration is a sign of the growing importance of cloud computing in the capital markets, as firms look to adopt more agile and efficient ways of working.

Moody's & Microsoft Partner to Develop Enhanced Risk Solutions with Generative AI

Moody's Corporation and Microsoft have announced a new strategic partnership to develop next-generation data, analytics, research, collaboration, and risk solutions for financial services and global knowledge workers. The partnership will combine Moody's robust data and analytical capabilities with the power and scale of Microsoft Azure OpenAI Service.

The collaboration will leverage the capabilities of generative AI to create new and innovative solutions for risk management and decision making. For example, Moody's and Microsoft could develop tools that help businesses identify and assess emerging risks, or that generate new insights from large datasets.

The partnership is also expected to enhance collaboration and productivity among Moody's employees and customers. For example, Moody's is adopting Microsoft Teams to provide a new platform for its knowledge workers and customers that will enhance collaboration, productivity, and communication.