13 July 2015
BT creates innovation in financial services market
In a move which promises to accelerate innovation throughout the world’s financial markets, BT is bringing fintech start-ups onto the BT Radianz Cloud, the world’s largest, secure networked financial community.
Fintech start-ups are an effective source of new ideas and services in the financial sector.
However, their small size often means they struggle to meet the stringent contractual or compliance expectations of large financial institutions
By hosting their solutions in the data centres, or on the growing range of cloud computing services connected to the Radianz Cloud, BT can now provide fintech companies of all sizes with greater market reach and a more suitable commercial structure.
This, combined with BT’s secure, scalable and managed operational infrastructure, can help them to grow quickly.
Happy birthday Radianz
The BT Radianz Cloud, which celebrates its 15th anniversary this year, is the leading connectivity platform for financial firms around the world. It links a community of thousands of brokers, institutions, exchanges and clearing and settlement houses.
Using a single, resilient and secure network connection, members can reliably access thousands of applications and services from more than 400 providers critical to the every-day running of the global financial sector.
The Radianz Cloud forms part of BT’s ‘cloud of cloud’ vision to give firms greater control over how they use cloud-based applications and services.
One of the fintech start-ups already taking advantage of this route to market is Algomi, an award-winning firm providing information matching solutions to optimise fixed income liquidity and aggregation.
The firm wanted scale and flexibility to be able to deliver services into major financial institutions.
BT worked with Algomi, using Radianz hosting space, cloud computing, connectivity and BT managed services, to help the fintech company meet the strict service level agreements and terms and conditions of its target customers.
Now, Algomi can provide services to a market of thousands of Radianz community members, including many of the world’s leading financial organisations.
Usman Khan, chief technology officer, Algomi, said: “Growing fintech firms face many barriers to entry when trying to introduce new solutions to large financial institutions. Typically, these are big companies used to dealing with other big companies.”
“With the BT Radianz Cloud, Algomi gets the scale and reach it needs on tap, backed by BT’s experience and capability of delivering solutions to large financial services organisations. It’s an ideal platform for growth.”
Tom Regent, president, global banking and financial markets, BT Global Services, said: “Since its launch 15 years ago, Radianz has been a driving force of innovation. Today our community members are as keen as ever to find new ways to grow, address regulations and drive efficiencies.”
He added: “Our new initiative will create a ready-made market place for fintech innovation bringing together smart start-ups and financial institutions. Fifteen years ago, Radianz launched with a strapline of ‘One community. One connection. One focus’. This message is as true today as it was then."