The depositary world is not exempt from the changes that it will bring the artificial intelligence generativa. In fact, as it was patent in the moderate round table by Francisco Béjar, Managing Director of Iberclear, within the framework of the IV Event on The Future of the Depositary that organises annually FundsPeople, the main actors of the sector, BBVA, BNP Paribas Securities Services, CACEIS , Cecabank and Inversis, have operative internal and external projects to prepare its business for the digital new age.
This is because the Spanish depositaries have embraced winds of change. “We are in a period of transformation. The new technologies are going to play a key role in our sector, also helping to develop new products and services to improve the efficiency and escalabilidad”, Óscar Pinopredicts , depositary's director of Inversis. And coincides fully María Dolores Domínguez Haro, person responsible for the service of depositary of BBVA: “The IA generativa is the technological big change that is going to promote our industry. Nos is going to allow offer a hypercustomised service and give a qualitative jump with the efficiency”.
Innovation with focus in the risk
This is because the depositaries understand the innovation as one of its duties as a company. “The priority is be still belivers to our DNA. And that involves offer the same quality in the service in the traditional world as in the digital one”, sentence Aurora Cuadros, corporate director of Securities Services of Cecabank.
The above-mentioned the previous thing, the depositaries also insist in the need of adapting to the new needs, but without losing the focus of which in the end is its mandate: protect to the client. “It is significant to equilibrate the innovation with the risk management ”, Emma Urracainsists , sales for Spain and Portugal of BNP Paribas Securities Services. “The artificial intelligence is going to improve the experience of the client, that undoubtedly, but our approach to its implementation part with a tone of caution. The priority is be aligned with the highest ”standards, states.
Regulatory tsunami
But not only the technology is the engine of the change that they foresee the depositaries. Added is “the regulatory”tsunami, as it defines Cuadros. The list is long. “The change that brings T+1 is very significant. Every time leave eating more the time of postcontracting, which goes requiring expand the terms of cutoff of the trading or fit out additional shipments at night ”, remembers. It is a point in which coincides Gómez. In Caceis have increased its night shifts and extended schedules of shipments of instructions for its clients. “Assistance have the automatedprocesses. To us does not scare us T+1 because it see as a return of adjusting-nut more for eficientar processes”, account Cristina Gómez, person responsible for Business Solutions of Caceis. “And we do not blow over of DORA. It is necessary to improve the digital and technological”operations, adds Pino.
This is because to the depositaries also them influence the megatrends that is received in the rest of the industry. Urraca appointment as an example the growth of the privateassets. “The last line is that the development of this active new class of supposes more volume of assets that manage and, for the regulator, a great monitoring. The teams have be still able to give an efficient”service, defends.
And pension plans of employment?
Closing the table of Béjar, the Managing Director did not want end without touching the topic of the pension plans of employment, that it already caused debate in the forum of the previous year. But as regrets Domínguez Haro, the reality is that it has had few advances in this field. “The truth is that the objective marked by the government se us antoja too optimist. So far has barely arrived at 10% of the town”, recognises.
Before this, the directive has clear several measures that you would be able to adopt to promote to this vehicle: that the contributions of civil servants are reactivated, promote that other public companies believe his own PEP, that it affords the active marketing and, the key, that it has tax incentives .
