Peering into the future of Securities Services: it will remain a people’s business!

Tue, 31/12/2019

From our annual team training in Vienna                                                                                                                            

As part of the UniCredit GTB Academy training programme Global Securities Services provides the opportunity every year for GSS team members across our 11 markets to broaden their knowledge. This year an external industry expert was invited to our Training Centre in Vienna to discuss the future of custody. The two-day event took the participants back in time to the early days of custody, when everything was paper-based and extremely manual, all the way up to the present with custody over the course of time having evolved especially in regard to automation and digitalisation.

The first day was more focused on the products and services GSS can offer to its clients in connection with securities services. Experiences were shared by the trainer and participants alike, reflecting back on how clients were serviced in the past. Some memories of the old technologies GSS had to use and the way things were done in the past made participants laugh, while others were more sentimental. Participants surely agreed that custody was not as it is today, but today’s GSS clients certainly enjoy an outstanding level of service.

On the second day, technology and expected future changes were the main topics up for discussion. Group sessions were organised where participants shared their thoughts on where they feel the industry is going in regard to technology, i.e. artificial intelligence and Blockchain, and how they feel it would impact the day to day responsibilities of servicing clients.

It was an insightful two days during which colleagues from diverse backgrounds got the chance to work together and discuss the future and its demands. The outcome of the training was that no matter how sophisticated your technology platform is or the type of products you offer, the main differentiator of sub-custodians will continue to be the people. During these two days, GSS colleagues clearly showed that UniCredit GSS continues to stand out in the crowd and services its clients just as they expect to be serviced or even better.

Maria Birone Kejla, Global Sales & Relationship Manager