2010 2011 2012 2013 2014 2015 2016 2017 2018
Exchange Operator Group CVCs Investment Bank CVCs
Investment Bank
81%
45%
81%
58%
10% 12%20% 20%
28%
12%6%
47%
3 3 3 3
7
1
7
1
9
2
12
5
13
5
6%0%0%
Share of Sampled Institutions Operating Innovation Efforts
Sellside E-commerce Management Structure 2020F
Growth of Corporate Venture Capital Over Time
Exchange Operator Group Asset Manager
SIG CVC External Accelerator Internal Accelerator Competition
ACROSS THE GLOBAL, REGIONAL AND LOCAL LEVELS, MANAGEMENT STRUCTURES REMAIN FRAGMENTED ACROSS CENTRALISED, FEDERATED AND SILOED MODELS
TECHNOLOGY INNOVATION – HISTORICALLY CONCENTRATED WITHIN BANKS AND A LIMITED NUMBER OF VENDORS – IS PRACTICED BY AN INCREASINGLY BROAD SET OF CAPITAL MARKETS PARTICIPANTS AND IN A VARIETY OF WAYS
THESE MARKET PARTICIPANTS CONTINUE TO MATURE THE MEANS BY WHICH THEY ENGAGE WITH INNOVATIVE FINTECHS, BOTH INTERNALLY AND THROUGH CORPORATE VENTURE CAPITAL IN AN INCREASINGLY FROTHY FINTECH MARKET
ALTHOUGH INNOVATION EFFORTS EXIST ALL OVER THE WORLD, THERE IS AN AGGLOMERATION EFFECT WHERE SPECIALIST SKILLS, CAPITAL MARKETS KNOW-HOW AND KEY DECISION MAKERS CONVERGE. CONSEQUENTLY, EMEA IS THE MOST FERTILE REGION FOR INNOVATION EFFORTS, WHILE LONDON AND NEW YORK CITY ARE THE TWO LARGEST GEOGRAPHIC HUBS Innovation Initiative Locations
Survey Participants
50% 33%17%
Centralised
FederatedSiloed
TIER I & TIER II CIBs30 EXCHANGE
OPERATOR GROUPS25 ASSET
MANAGERS17For more informationplease visit: greyspark.com
This report examines an emerging jigsaw of technological innovation between these investment banks, exchange groups and asset managers with each type of market participant focused on a different part of the technology stack but ultimately coming together at their edges to create a smooth process for capital markets interactions.
DIGITAL TRANSFORMATION: THE CAPITAL MARKETS INNOVATION LANDSCAPE 2019In 2019, automation and electronification of capital markets workflows are the key trends dominating both daily operational and long-term strategic trends. Financial technology for this space continues to evolve rapidly technologically, from a commercial landscape perspective and in terms of the incubation and execution of new ideas. This report analyses the means by which 30 leading global investment banks, 25 exchange groups and 17 of the largest asset managers seek to capture and incorporate innovation within their respective organisations.
FINTECH INNOVATION IN INVESTMENT BANKS, EXCHANGE OPERATORS & ASSET MANAGERS