Profile of Greg MacSweeneyEditorial Director
Member Since: 5/8/2014
Blog Posts: 734
Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology.
Articles by Greg MacSweeney
posted in January 2007
The top priority for many senior business and financial leaders at the World Economic Forum was, surprisingly, climate change, followed by global banking security standards.
My first visit to the World Economic Forum is now over and, after an exhausting week, I used the downtime on my flight home to contemplate some of the bigger issues that were raised during the past week.
The unbanked, or underbanked, represents a huge -- but risky -- opportunity for financial institutions. And one needs not travel to Asia or South America to find a large underbanked market: There are 50 million unbanked people right here in the world's most developed economy.
Delegates are calling for global regulation that directly addresses climate change at the World Economic Forum in Davos. But can business, government and scientists agree on a solution that could actually have some impact on a global scale?
Not surpisingly, information and data security is one of the hotter topics in Davos among the attendees at the World Economic Forum. Logically, if there are regulators for the Internet, telecommunications and accounting, why don't we have a standards in place for information and data security?
After arriving in an abnormally warm Davos for the World Economic Forum, talk quickly turned to finding ways for financial services companies to become "greener," especially when it comes to using advanced technology.
More buy-side firms will adopt cross-asset-class algorithmic trading in 2007, according to David Dart, a former managing director and CIO for the Americas with a large German bank, and the technology will enter the mainstream.
New technology from Pittsburgh-based Mellon Private Wealth Management will transform the way wealth managers interact with ultra-high-net-worth clients' other advisers, according to Tim Tully, the firm's senior vice president and chief operating officer.
Boston-based Putnam Investments is preparing to outsource noncore processes so business leaders and technology professionals can focus on projects that provide specific value to the business, according to Putnam CTO Philippe Bibi. Such agility will be necessary if mutual funds are to compete with hedge funds, he suggests.
SMS and text messaging will take center stage for financial organizations that support wireless access for clients, reports Joseph Ferra, chief wireless officer at Boston-based Fidelity Investments. Those trends, combined with the introduction of asynchronous data and voice capabilities, will drive increased wireless usage for financial transactions.
Media outlets, including Wall Street & Technology, are fond of predicting what the future will bring.
What do CNN talking head Lou Dobbs and the financial industry have in common?