Reimagining custody: Lessons from transaction services and the path to modernisation

The past decade has seen transaction services undergo dramatic change, consistently leading the charge in innovation. And with an overlapping institutional client base, custodians are now recognising the urgent need for a measured modernisation of their services to the industry. We explore the parallels between the transaction banking and custody sectors, examining lessons from transaction banking that could shape the future of custody.

Amit
Amit Agarwal, Citi

Custody was a key topic of discussion at Sibos. Amit Agarwal, head of custody and securities services at Citi, underlines the importance of custody in the broader client landscape. “To amplify the power of our network, we need to be able to deliver it using technology and innovation to maintain and build sticky client relationships,” he says. “In addition to platform modernisation, it is also important to create an ecosystem that enables flexible data provisioning, real-time insights and digital distribution.”

Real-time takes centre stage

The payments sector has already achieved considerable advancements, with financial institutions, market infrastructure providers, regulators and software developers driving real-time capabilities, even for cross-border transactions.

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