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Global Platform-As-A-Service Provider FNZ Signs Deal With FinSwitch to Provide Blockchain-Enabled Administration Utility for the South African Fund Management Industry

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FNZ, a global platform-as-a-service provider, recently announced it has signed a deal with FinSwitch to provide a new blockchain-enabled administration utility for the South African fund management industry.

According to FNZ, the partnership will enable trading, pricing, reconciliations, account opening, transfers, sharing of instrument data, regulatory reporting, and more for FinSwitch clients. This will all be delivered through a cloud-based and blockchain-enabled application based on FNZ’s existing and proven ChainClear ecosystem.

FNZ launched ChainClear – the world’s first production blockchain ecosystem for the investment industry – in 2019. The solution leverages blockchain technology to replace the thousands of copies of transaction and holdings that plague the managed funds industry, with a single, secure, verifiable source of ‘the truth’, universally accessible by all parties.”

While sharing more details about the collaboration, Hugh Evans, FNZ Managing Director of South Africa, stated:

“Our mission as a business is to help people achieve their financial goals by reducing the costs associated with investment. FinSwitch’s breadth and deep client relationships make it the ideal partner for FNZ as we expand and develop our offering to the South African investment industry and lower the barriers for retail investors in a maturing market.”

FNZ added that the features will become available for use by FinSwitch clients later in 2020 and will provide additional functionality, resilience, and performance to what is already a highly functional and reliable solution for fund administration in the Southern Africa region.

Source: https://www.crowdfundinsider.com/2020/05/161949-global-platform-as-a-service-provider-fnz-signs-deal-with-finswitch-to-provide-blockchain-enabled-administration-utility-for-the-south-african-fund-management-industry/

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MAS completes multi-currency blockchain testing

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The Monetary Authority of Singapore (MAS) has completed its fifth and final testing phase for a multi-currency blockchain payments network.

MAS believes the prototype could change cross-border multi-currency payments

Codenamed Project Ubin, the blockchain network is jointly developed with JP Morgan and investment firm Temasek.

MAS announced the fifth phase of the project on 11 November 2019, following the successful development of a blockchain-based prototype for multi-currency payments.

Phase five of the test saw payments successfully settled in different currencies on the same network.

It validated the use of smart contracts on the payments network prototype for settlement, conditional payments and escrow for trade.

MAS believes that the prototype could enable faster and cheaper transactions than “conventional cross-border payments channels”.

The regulator adds that its current system can serve as a test network for collaboration with other central banks for developing “next generation cross-border payments infrastructure”.

To that end MAS has made technical specifications public to “further industry development”.

“As with all innovation adoption, there is a time for experimentation, and a time for commercialisation,” says Sopnendu Mohanty, chief fintech officer at MAS.

“Project Ubin has worked with the financial industry and blockchain community on a journey of experimentation, prototyping and learning.

“Following the successful experimentation over five phases, we look forward to greater adoption and live deployment of blockchain technology.”

Related: MAS launches $1.25m fintech challenge to tackle climate change & COVID-19

Source: https://www.fintechfutures.com/2020/07/mas-completes-multi-currency-blockchain-testing/

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Cloudflare CFO Thomas Seifert Joins First Derivatives’ Board

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Jefferies Group LLC, an American investment bank, announced this week that it has secured a new Chief Financial Officer (CFO) with Matthew Larson to take on the role effective from the 24th of August 2020.

Larson will be succeeding Teresa Gendron as the Group CFO, who has been the interim CFO of Jefferies following the passing of its former CFO, Peg Broadbent.

The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation

Larson joins the investment bank from Barclays Americas, where he is currently the CFO, a role he has held for more than three years, his LinkedIn profile shows. He is also the CFO of Barclays PLC’s Global Markets business. 

Earlier in his career, Larson was a Managing Director at Goldman Sachs. During his time with the company, which spanned for eight years, he held several roles in the Finance Division

Commenting on the appointment, Rich Handler, Chief Executive Officer of Jefferies Group, and Brian Friedman, Chairman of the Executive Committee of Jefferies, said in the statement: “We are very pleased that Matt will soon become Jefferies Group’s CFO. 

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“Matt’s experience and skills make him well qualified to be our CFO and to oversee our corporate support functions. We want to thank Teri for the tremendous support she has given Jefferies Group as its interim CFO. 

“We look forward to Teri and Matt working closely together as the respective CFOs of Jefferies Financial Group Inc. and Jefferies Group.”

In addition to his career experience, Larson is a Certified Public Accountant. He graduated from the Idaho State University, where he obtained a Bachelor of Science in Finance.

Jefferies sees solid Q2 2020 performance

The appointment of Larson, which was announced on Monday, follows on from Jefferies reporting a record financial performance for the second quarter of 2020.

As Finance Magnates reported, during the second quarter, the company saw net revenue of $1.03 billion, pre-tax income of $173 million, net earnings of $129 million, and return on tangible equity of 11.6 per cent.

Source: https://platoblockchain.net/cloudflare-cfo-thomas-seifert-joins-first-derivatives-board/

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Jefferies Group Names Matthew Larson as Chief Financial Officer

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Jefferies Group LLC, an American investment bank, announced this week that it has secured a new Chief Financial Officer (CFO) with Matthew Larson to take on the role effective from the 24th of August 2020.

Larson will be succeeding Teresa Gendron as the Group CFO, who has been the interim CFO of Jefferies following the passing of its former CFO, Peg Broadbent.

The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation

Larson joins the investment bank from Barclays Americas, where he is currently the CFO, a role he has held for more than three years, his LinkedIn profile shows. He is also the CFO of Barclays PLC’s Global Markets business. 

Earlier in his career, Larson was a Managing Director at Goldman Sachs. During his time with the company, which spanned for eight years, he held several roles in the Finance Division

Commenting on the appointment, Rich Handler, Chief Executive Officer of Jefferies Group, and Brian Friedman, Chairman of the Executive Committee of Jefferies, said in the statement: “We are very pleased that Matt will soon become Jefferies Group’s CFO. 

Suggested articles

SquaredFinancial Launches New Partnership ProgrammeGo to article >>

“Matt’s experience and skills make him well qualified to be our CFO and to oversee our corporate support functions. We want to thank Teri for the tremendous support she has given Jefferies Group as its interim CFO. 

“We look forward to Teri and Matt working closely together as the respective CFOs of Jefferies Financial Group Inc. and Jefferies Group.”

In addition to his career experience, Larson is a Certified Public Accountant. He graduated from the Idaho State University, where he obtained a Bachelor of Science in Finance.

Jefferies sees solid Q2 2020 performance

The appointment of Larson, which was announced on Monday, follows on from Jefferies reporting a record financial performance for the second quarter of 2020.

As Finance Magnates reported, during the second quarter, the company saw net revenue of $1.03 billion, pre-tax income of $173 million, net earnings of $129 million, and return on tangible equity of 11.6 per cent.

Source: https://platoblockchain.net/jefferies-group-names-matthew-larson-as-chief-financial-officer/

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