How does Refinitiv support industry efforts including ISITC and why is this critical?
Refinitiv believes strongly in ISITC’s mission of collaboration across the global community, promoting standards and best practices in operational excellence. As a volunteer-only, non-profit organization, ISITC has passionate members who are committed to solving challenges across the industry. From previous conversations on block chain and AI to disruption in financial services to ongoing regulation and sustainability efforts, ISITC remains at the forefront of topics most pressing to our clients. By not only being part of this dialogue but also helping to drive the industry effort, we at Refinitiv can more effectively support financial institutions in reducing the burden of data management while maximizing the benefit of the information they need.
What global trends have shaped the financial services landscape and how has this impacted firms’ priorities?
Entering 2020, financial markets already were being reshaped by trends such as increased regulation, margin pressure and automation, the growth of sustainable investing, the increasing influence of a new generation of millennial digital natives, and emerging and frontier market growth. The global Covid-19 pandemic has acted as a catalyst for many financial institutions’ digital transformation projects by forcing many to implement virtual working at unprecedented speed and scale, as well as causing some of the most volatile markets we have seen. These trends have combined to generate insatiable hunger for data and enabling technologies like cloud and AI. Our focus at Refinitiv is on helping our customers succeed by equipping them with the data and technology they need at a time of profound change.
What is Refinitiv’s approach to the data ecosystem and open standards?
We have a long history of openness and partnership when it comes to data and technology because that is what our customers want. To make sense of today’s fast-moving, interconnected and complex global markets, customers have to manage and connect all types of data in unique ways to get an edge. Enabling them to do so by providing open data models, integrated analytics, and flexible commercials is critical today and is going to become more important as technology innovation continues. Participating in bodies like ISITC is one of the ways that Refinitiv continues its support of industry standards that help everyone.
How is Refinitiv preparing for 2020 and beyond?
Our focus is to continue delivering the industry leading data that powers and advances our customers, enhancing our data and interoperability, and investing in cloud delivery to find new ways for the market to lower their total cost of ownership. At the same time, we are ensuring that our customers remain ahead of the market volatility triggered by the Coronavirus. As the crisis reaches a new phase, we are working closely to facilitate their adaption and evolution to the new normal.