The financial services industry has often been at the forefront when it comes to the implementation of new technologies. From the rise of compact computers in the 1970s and the development of software packages that improved accuracy and efficiency, through the advent of the internet and home computing, to the dominance of mobile apps, the financial services industry is frequently in the vanguard.
So far, each innovation has been an incremental step, adapting existing processes to an evolving environment: paper ledgers become spreadsheets, cash and cheques are replaced by chip and pin, in-turn replaced by touch to pay. The latest technologies promise not an incremental step but “disruption”, tearing up the existing ways of doing things and replacing them with new tech that promises to be better, smarter, faster.
In this e-briefing we look at the latest global developments in the areas of fund tokenization, with contributions from Citi colleagues from around the world.