'We're in a situation now where we've got so many new technologies all at the same time' says Hirander Misra, Chairman & CEO of GMEX Group

Harinder Misra Interview

Hirander Misra, Chairman & CEO of GMEX Group shares his thought on the rise in digital assets including cryptocurrencies and blockchain. He talks about GMEX MultiHub (GMEX), a new business unit of the GMEX Group which has launched Digital MultiHub (MultiHub), a global cloud-enabled trading and post-trade digital market infrastructure platform which facilitates third-party trading and post-trade services across traditional and digital asset markets.

Over the last five years digital assets have become a democratization tool.

MEDIA 7: Could you please tell us a bit about yourself? How were you able to manage 9+ years of GMEX Group as its CEO?
HIRANDER MISRA:
This year, GMEX will be ten years old at the end of May. So, you know, time flies, as I say, when you're having fun. Within the financial markets industry on the brokerage side and then primarily on exchange side, I've had 26 years of experience & last ten years of that have been with GMEX Group. It's very interesting because it has harnessed my background in setting up and building exchanges and the electronic trading and post trade platforms across asset classes that are enabling exchanges across the world with some exciting projects that span from India to the US, to Vietnam and many other places. So, it's been a privilege to be involved in a global B2B enterprise, because one, it allows us to work with a multitude of players that are very diverse across the world. More recently, over the last five years digital assets have become a democratization tool. So, I've become interested in B2B and B2C tools. So, there's a lot of work we're doing in that area. So, when you co-found a business at the outset, you always think that there will be a five-year time horizon, but ten years on, we're still having fun, and we can see many, many more years.


M7: How has GMEX Group changed the fintech experience for its clients in recent days?
HM: This has been an exciting thing. Whoever you spoke to across the world, the pandemic has brought people closer together, even though we've been further apart. There's been a multitude of online video calls, etc. But in many ways, for FinTech, it's been terrific, notwithstanding the very unfortunate human tragedies. For those that could say, okay, we're in a pandemic initially, everyone's panicking, even if you go back to March - April 2020, but we as an organization and others saw this as a real opportunity to say, okay, you know, the world is changing. How do we evolve with it in terms of what we do and our services? So initially, for a few months, there was taking stock, but then also as the world recalibrated, a lot of thought leadership and discussions took place with other FinTech leaders about how we could work in terms of what we were doing much more collaboratively. So, there's competition, but there can be a positive collaboration because fintech is very broad, you can't do everything, and you have areas of expertise. For example, ours is digital market infrastructure enabling all kinds of financial markets players, but you then have payments, structured finance, and many other elements. So, we spent a lot of time fostering those partnerships with the likes of Amazon Web Services and IBM as well as other more established as well as newer companies, and that's been good because we're beginning to see this sort of fragmented landscape where there are multiple blockchains, and there's various traditional infrastructure come together a lot more cohesively. So, the pandemic presented a real opportunity with our backs against the wall. But, you know, things positively present themselves as well.

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The pandemic presented a real opportunity with our backs against the wall. But, you know, things positively present themselves as well.

M7: With the integration of technology for businesses of exchange & trading venues, what more requirements are pending for providing services to clients?
HM: Traditional finance is well established and across many asset classes, securities, commodities, FX, derivatives, and now digital assets. But, there's a multitude of exchanges, there's a multitude of brokers and banks and other participants. So, for the asset managers now - it's interesting because these traditional players, especially on the institutional side, now increasingly want to get into digital assets. But they want to do that cohesively and work well with their traditional businesses. So, you can't throw away lots of existing technology. So, the challenge is always how do you evolve & how do you get into new ways of doing things in new asset classes. So, we're seeing this as a real opportunity in our industry and the ability to bring some of those players on the institutional side steadily into new digital asset classes and new business models & ultimately, it's got to boil down to revenue opportunities for them as well, because it's got to be good for us as a service provider but also good for them in terms of what it can do for them.


M7: Congratulations on receiving the prestigious Hind Rattan Award. It's one of the highest awards granted annually to non-resident persons of Indian origin to recognize their outstanding services, achievements, and contributions in their respective fields. What do you have to say about that?
HM: It's very privileged in terms of receiving the award indeed. My grandfather came to the UK one year after the partition in 1948 from Punjab, and then obviously, we established ourselves here. My parents met here, but we've maintained strong bonds with India. We have a place in Chandigarh, and there have been regular visits & I've also been privileged during the heart of the pandemic Indian Energy Exchange launched Indian Gas Exchange enabled by GMEX Group’s technology. I am honored to be involved in that. So, both personally and on a work level, I maintain solid links with India. So, to be recognized is a great privilege, I see lots of opportunities in terms of that India relationship back into the UK, where I'm biased, and globally as well. At the moment, Boris Johnson, the UK prime minister, is visiting India & there's lots of trade talk. Still, those bilateral relations are strong & it's good to solidify those with this personal award.

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Digital assets and decentralized finance (DeFi) will increasingly converge with traditional finance (TradFi).

M7: Given the changes in today's rapidly evolving businesses, what are the critical circumstantial changes in your industry? What systematic approach are you using to monitor these economic changes? 
HM: Yes, it's a fantastic time in the capital markets industry because obviously, technology must be used, not for technology's sake, but as a business enabler. We're in a situation now where we've got so many new technologies all at the same time. These include blockchain, artificial intelligence, in terms of the internet of things, the movement to web 3.0 for businesses; the challenges are how do we harness some or all of these and create corporate opportunities for financial technology firms like us. We're seeing a good chance that digital assets and decentralized finance (DeFi) will increasingly converge with traditional finance (TradFi). So, with DeFi and TradFi coming closer together, we're going to see what I call and what I deemed to be a concept called hybrid finance or HyFi. Indeed, I have written articles on this because both, as a silo, can't necessarily operate. The two have to converge and come together. This also means digital asset infrastructure has to incorporate existing infrastructure on the traditional side and networks like SWIFT and other technologies, to integrate the banks and asset managers and exchanges, but that's got to come together with multiple blockchain networks as well. So we're going to see a lot of action in that middleware layer to bring together these fragmented elements and join them into a cohesive whole.

ABOUT GMEX GROUP

GMEX is a global market infrastructure vendor providing multi-asset trading, exchange matching engine and post-trade business solutions, and Ecosystem-as-a-Service (EsaaS) technology. These include, the GMEX MultiHub, which is a cloud based trading and post trade digital market infrastructure platform that as a ‘multi-asset network of networks’ facilitates a first of its kind collaboration across major institutions, regulatory regimes and start-ups with the goal of bringing digital assets to a wider audience.

For more information visit www.gmex-group.com or Twitter @GMEX_Group

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Synechron | February 02, 2024

Synechron, Inc., a leading global digital transformation consulting firm focused on financial services and technology organizations, announces the launch of its Synechron Nexus suite of nine Artificial Intelligence (AI) solutions that are ready to be deployed within weeks. This array of generative AI-led solutions was designed to span the nexus between human expertise and AI, while enabling users to automate manually intensive tasks, increase project speed, drive operational efficiencies, and reduce costs across various key business tasks. Each solution, divided among three value streams, allows Synechron clients to improve their operations, reduce friction in their processes and boost productivity. Business Growth: Practical, innovative applications that enhance business capabilities Synechron Amplifai is a GenAI-powered market research solution. Its automated research capability saves significant time in a wide range of use-cases, reducing the tedium of gathering, analyzing and reporting market news, trends and strategies. Synechron Clarifai is a tool for summarizing and analyzing call-center transcripts. Conversations are flagged for non-compliance and further human review/actions. Synechron Simplifai centralizes project portfolio data and metrics for streamlined executive decision-making, informing effortless, data-backed decisions for executive and steering committee groups. Operational Efficiency: Advanced solutions to streamline processes and elevate internal operations Synechron Nexus Chat is built on a conversational AI model, understands and engages in a comprehensive range of scenarios and supports plug-ins for real-time data and integration, while delivering human-like conversational responses and text, safely and securely. Synechron Replai is an AI-driven, RFP and proposals tool, streamlining proposal creation with high-quality, insightful responses, with the ability to search the internal knowledge repository for fast access and content re-use. Synechron Unifai is an AI-driven HR solution, designed to simplify interactions between company HR functions and employees, such as policy information and employee-specific payroll details. Synechron Identifai collects comprehensive online market intelligence and provides an in-depth understanding of business, emerging technology trends, or any research topic. Developer Productivity: Toolkit to optimize timelines, minimize costs, and automate practices across the Software Development Lifecycle (SDLC) Synechron Codifai is an SDLC productivity improvement tool, using automation in code generation, unit test case generation, legacy code migration, code optimizations, and automatic code documentation. It works closely with Synechron Verifai which addresses software testing aspects. Synechron Verifai is a GenAI tool for SDLC productivity, using automation in code generation with a focus on QA test case generation, automated test script generation, synthetic test data generation, and bug detection and bug fixing. It works closely with Synechron Codifai which addresses software development efficiency. This new Synechron Nexus AI suite of real-world, practical business solutions, combined with the five formalized RiskTech.AI Accelerators (launched in October 2023), leverages Synechron's AI Practice expertise globally. The creation of AI-led business solutions has been a passion of Synechron's for over a decade, and the firm's commitment to innovative excellence has won the firm eight prestigious AI industry awards to date. Faisal Husain, Synechron's Co-founder and CEO, said of the launch of the Synechron Nexus AI Suite of solutions, "We are proud to be releasing this extensive array of AI-enhanced solutions that go beyond the hype, and provide significant, tangible benefits to business operations. AI and GenAI-rich tools are not just ideas we offer to our clients, but key process accelerators that we ourselves at Synechron are deploying across our company, as we offer ways to integrate the benefits of this technology with human expertise." Ryan Cox, Co-head of Synechron's AI Practice in the UK, added, "Our team has developed, tested, and successfully integrated these advanced AI solutions. Our approach is to strategically guide our clients to integrate AI effectively within their business processes. We identify the key areas where AI can bring the most impact, aligning our solutions to their unique business needs. This targeted approach ensures significant value creation with maximum benefit." Prabhakar Srinivasan, Co-head of Synechron's AI Practice in Bangalore, India, commented, "Artificial Intelligence has proven to be a wonderful force for driving business enhancements by quickly synthesizing extraordinarily large data sets. The Large Language Models used learn over short span of time on how to optimize each firm's proprietary information, thereby boosting productivity and allowing businesses to realize time and cost savings as they optimize tasks." About Synechron At Synechron, we believe in the power of digital to transform businesses for the better. Our global consulting firm combines creativity and innovative technology to deliver industry-leading digital solutions. Synechron's progressive technologies and optimization strategies span end-to-end Artificial Intelligence, Consulting, Digital, Cloud & DevOps, Data, and Software Engineering, servicing an array of noteworthy financial services and technology firms. Through research and development initiatives in our FinLabs we develop solutions for modernization, from Artificial Intelligence and Blockchain to Data Science models, Digital Underwriting, mobile-first applications and more. Over the last 20+ years, our company has been honored with multiple employer awards, recognizing our commitment to our talented teams. With top clients to boast about, Synechron has a global workforce of 15,000+, and has 48 offices in 19 countries within key global markets.

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