The similarity to private car booking app Uber is something that Victor is clearly keen to encourage, teaming up with the San Fransisco based company to offer lucky US Uber users a free flight to New York last month.
“Banking should be easy and convenient. That’s what the Retail Workbench is all about,” says Karen Fawcett, Standard Chartered’s CEO for retail banking.
The alternative investment market is constantly changing, requiring fund managers to use proven technology and services that ensure operations can scale and firms can grow as asset strategies become more complex.
The bank wants to see whether the blockchain technology, known as the "distributed ledger," can be repurposed for currency clearing and settlement to give clients faster turnaround times and reduce the bank's risk.
Venture capital investments into China's technology start- ups more than doubled to $32.2 billion in 2015, with $4.7 billion of investments so far this year, according to research firm CB Insights.
Broadridge Investment Management Solutions supports more than 225 global hedge funds, asset managers, family offices, fund administrators and prime brokers.
The banks connected to R3-managed private distributed ledger technologies built by Chain, Eris Industries, Ethereum, IBM and Intel.
With cloud’s huge data-handling abilities, flexibility and agility making for a striking contrast with legacy systems, it’s easy to see why this shift is expected to gather pace in the near future.