InSync NY Event Recap
This April, Synechron brought together C-Level executives from the world’s leading banks, asset managers and insurance companies for its twice annual client forum – Insync NY. The event brought together 150 industry professionals for an evening of industry education, networking and entertainment at The Mandarin Hotel to discuss 2020 Business Strategies and what key programs need to be prioritized in the next year in order to achieve those roadmap goals.
Global Head of Marketing and Communications, Diana Kearns-Manolatos, kicked off the evening by explaining the theme for the event - CxO Outlook for 2020 and the Emerging Tech Roadmap. She explained, based on our work with our global clients, we are seeing that most of them have set ambitious goals for 2020 and that the next year ahead will be critical in achieving progress against the milestone goals and programs needed to achieve those objectives. At the top of the agenda for most of these firms are major initiatives such as Enterprise-scale Digital Transformation and Technology Modernization including major strategic initiatives related to data and cloud.
The sessions began with a fireside moderated by Synechron’s CEO, Faisal Husain interviewing Neal Pawar, CTO of AQR Capital Management. The engaging dialogue discusses some of the key areas of focus in the company’s own 2020 business strategy and key themes including cloud, data and fintech.
Our lineup of speakers continued with an engaging keynote presentation on the business benefits of AI from Chris Kovel, Managing Director at Morgan Stanley. Chris honed in on the ability for AI to be used to go beyond traditional sales and marketing strategies to gain more personalized recommendations on a single user basis to enhance the advisory experience. He spoke about projects the bank had achieved including an award-winning next best action solution. A key takeaway from his presentation; however, was that when looking at the value of AI, we need to be thinking about the “bionic man” of man + machine to find the real business value in these technologies.
Sandeep Kumar, Managing Director of Synechron NY then led a panel discussion including a broad range of experts from across the industry representing financial operators, retail banking, capital markets and investment banking and technology perspectives to provide actionable recommendations to the audience on 2020 Roadmap. The panel consisted of Selwyn Collaco, Chief Data Officer, TMX; Gaurav Nagla, Head of Product Management and Innovation, Scotia Bank; Paras Parekh, Head of AI and ML for Investment Banking, Credit Suisse; Helen Altshuler, Senior Engineering Leader, Google; Lee Bressler, Director, US Capital Markets Lead, Microsoft; and Narsimhan Bramadesam, Senior Director, Synechron.
Key points covered included:
- Why financial services and insurance C-level executives need to pulse check their emerging technology progress against digital transformation and innovation strategies with most of the panelists agreeing that Data and Cloud were top strategic programs to focus on for the year.
- Who is leading the industry in emerging tech to benchmark progress and understand what is commoditized
- What to prioritize to ensure the 2020 roadmap is met and to define areas of differentiation
- Where emerging technology and digital innovation journeys overlap and how data strategy, AI, Blockchain, Cloud all factor in
- How CIOs should plan to present their progress against key themes to the business and the board
- What the cloud journey looks like including the trend toward hybrid cloud strategies and some of the new tools now available to support interoperability
Clients then had the opportunity to enjoy an interactive touch table featuring Synechron’s Wealth Tech Accelerators and the VR experience over dinner, drinks and conversation overlooking Central Park. To learn more about Synechron’s Accelerators visit www.synechron.com/FinLabs
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