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Solving for the future of financial services

Thomas Kurian
CEO at Google Cloud
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Google Cloud Next 2020
July 14, 2020, Online, San Francisco, CA, USA
Google Cloud Next 2020
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About speakers

Thomas Kurian
CEO at Google Cloud
Sarthak Pattanaik
Chief Information Officer at The Bank of New York Mellon
Melanie Frank
Managing Vice President - Cyber Engineering at Capital One
Yolande Piazza
VP Financial Services, Google Cloud, Board of Directors H&R Block at Google

Sarthak Pattanaik is the Chief Information Officer of the Clearance and Collateral Technology group and is responsible for managing and enhancing the technology that supports Government Securities Services (GSS)’s Fed-eligible securities clearance, U.S. Tri-party Repo and Global Collateral Management products and services. Sarthak led the development and client rollout of Broker-Dealer Clearance (BDC), the next generation securities clearance platform. Additionally, Mr. Pattanaik has two patents for of blockchain and machine learning technology aimed at resiliency that support key production services. Prior to joining BNY Mellon, Mr. Pattanaik spent 13 years in Nomura Securities based in New York. He was the global head of market risk and counterparty risk technology responsible for value-at-risk, stress testing, economic capital and regulatory capital models. Prior to that he was a quantitative analyst responsible for the pricing of structured credit and securitized products. Mr. Pattanaik is a CFA and FRM charter-holder. He holds a Bachelor of Technology degree from the Indian Institute of Technology Kharagpur, and an MBA from the Indian Institute of Management Lucknow.

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Technology executive with 25+ years experience building and transforming mission critical software. Expert at aligning technology and business strategy, leading high-performing engineering teams; delivering digital customer experiences; running resilient high volume platforms. Strong information technology professional skilled in IT Strategy, Cloud Technology, Digital Workplace, Enterprise Change Management, and Agile Delivery.

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I am thrilled to be joining Google Cloud at a time when Cloud has become crucial for the financial service industry to innovate and serve customers in new ways. I look forward to working with customers around the world as they embark on their transformation journeys.

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About the talk

From performing quantitative research for capital markets to optimizing risk processes, improving the customer experience, and generating profitable growth for retail banking and insurance, Google Cloud is helping global financial services companies derive value from cloud-based architectures, high performance computing, big data, AI, and more. See how financial institutions are better understanding their customers, increasing revenues, reducing cost structures, and staying compliant.

Speakers: Thomas Kurian, Sarthak Pattanaik, Melanie Frank, Yolande Piazza

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fullname: Thomas Kurian, Yolande Piazza;

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Hello. Google cloud has been helping leaders in financial services. Banks, Capital markets, and insurance companies, transform their business for a number of years. We see that Trend exhilarating as financial institutions shifted business to digital and the pandemic has only exhilarated distract would like to take a few minutes today to share a perspective on how Google Cloud can help Financial Services institutions. And now, I'd like to hand it off to your Londa Piazza,

who has many years of work in financial services and who, recently joined us to lead a financial services work in Google Cloud, she will interview Melanie Frank from Capital, One. An important customer of ours on their experience. Hi Melanie. Thank you for joining us a Google Cloud next on a, we always look forward to speaking with our customers about how they are transforming and innovating to drive impact across that company's Salette. Play some Melanie. What you see is the biggest challenges facing Financial Services,

specifically Capital, One Financial Services are biggest challenges, quite frankly is Legacy technology. Older Technologies, tend to rely on infrequent batch processing and they're just really unable to provide our customers with those real time and intelligent experiences that they expect. Luckily for me getting to work at Capital One, we recognize this early on and we've actually been on a seven-year digital transformation. Journey comprehensively reimagined, our talent or culture how we

work. I'm in the technology infrastructure behind So given the current environment financial services companies face continued pressure to transfer phone. So you can tell us about cats one's experience with folks working from home and how it is impacted the overall productivity. Yeah, absolutely. I think Super Lucky for us that attorney and that investment that we've been making to modernize our technology, right? It's continuous. And it really paid off. We had a vision for quite some time to enable our people to work from anywhere on any device

at any time and that really paid off as everyone just took off. And I'm from the office is unable to work from them and was working completely. So, Investments that we had made in, in our Platforms, in our VPN capabilities in audio and video conferencing Solutions. I'm really paid off great. So if you can tell us why you chose G Suites. Yes, I'm for very specific reasons. First and foremost, it goes back to the vision of any device anytime. So our prior Solutions just had very inconsistent experiences

between pcmac, mobile tablet and we really need to be able to seamlessly switch between those devices as we work together. I'm so that consistency was on the collaboration experience itself, and that real-time collaboration experience has the ability for multiple people to edit and collaborate and share content within a document. At the same time, you go back to that cuz it's an area, right? That is really really just become even more important in the current work environment. The third thing was we

had an eye towards what are talent and our people in the future Talent needed and wanted from a tool set. So why we have a very large Enterprise on that was really fairly well entrenched with our old tool, we knew that she sweet was the preferred and is the preferred choice for the majority of the generations. Now and upcoming and lastly we we knew that we would benefit quite a bit from the power of ongoing Innovation that Google brings to G suite at the product but about the migration to just wait, I'm sure this must have been a major

operational shift for the associates. Can you chat some best practices for how you implemented change management and the compliant? Yeah, I mean I think first is to acknowledge that you have a lot of muscle memory. Don't tap in your Enterprise depending on how long it takes and how big it is. Same thing to tackle here. And so while our biggest learning is that you cannot actually over invest in change management. So if you think you, if you think you've invested in a few, if not do more, do more training, do more communicating do more everything right? We engaged

early adopters within our team's, thousands of men who were going to adopt the tools easier anyway because they were excited, right? That's what the early adopters. Do we use them to help understand how it would affect the Enterprise and then as are some of our extended change management team as we went live for the broader Enterprise we invested heavily in the administrative professional Community as they had a major change curve as they were trying to be just as productive on day 1 of G Suite as they were the day before on the old tools and calendar. Calendaring is a very

different experience there last week, I think it's that. Exactly. Population, right? You really wanted me to have those as sponsors of this type of a change for their organization and acknowledging that they work. Very differently from the majority of their team and actually see the full benefit to the collaboration that the rest of their team. And so how you can Target the things that they will see, they will benefit from help them understand what their org games from it. Given that they're not necessarily collaborating on content with each other. In the same way that the

rest of the organization is to one's Journey with us very much appreciated and innovation. I'm excited to be here with you at this incredible digital event financial service companies, face continued pressure in the race of business transformation. Now, more than ever the places that buy technology, disruption shifting customer expectations and Regulatory developments in many ways. Recent experiences of an accelerated the need to digitally transform. Financial Services organizations have unique requirements when it

comes to security policies and standards around day to residency, identity and access control, as well as Regulatory and compliance obligations for risk management. Call technology presents significant opportunities to help financial institutions standardized in multi-cloud or hybrid environments streamline Thomas related to compliance and governance improve its ability to the YouTube analytics and minimize complexity with modern collaboration tools. Google cloud is committed to helping financial institutions adult Cloud technology and digitalize for the future, we see three main

transformation opportunities specific to financial services, 360 degree view of the costume. Has launched more tailored offerings and provide more help. It says Second financial institutions can transform and modernized a tool used while machine learning and finally phones can improve operational efficiency, across that businesses known. Only to Ultimate touch manual tasks. To tackle an ever-growing amounts and complexity of data. But also mitigate risk. Operational efficiency can also allow their employees to focus on more strategic

and rewarding business needs. And Google Cloud can be your partner in this journey of transformation. Now, let's talk about how we can do it. We believe it's important for customers to have the choice to run the operations in that proprietary data centers in Al cloud or multiple Cloud. We also have a JCPenney's in migration framework that many customers has used to rap with migration to the cloud, to run, sap VMware, and many other work clothes seamlessly on all Cloud. We have reasons to serve our customers across the globe, this Geographic scale and distribution of our infrastructure

is critical to support our customers redundancy and operational resilience needs and addressed concerns about a single point of failure. Google Cloud Oracle s a p. I v a n and others to help modernize financial institutions like a Sea Systems. Add a 28-oz can help with Jason management. Needs two days of warehousing. They too late. Streaming analytics solution. Flight status science models and pipelines and natural language. Corey in Plaistow Financial Services interactions of based on trust and security and

privacy are absolutely critical currently a Google Cloud was focusing on three key areas when it comes to security and privacy, confidential Computing, to encrypt customer data. During processing everywhere data, privacy and protection strep disability and protection, you'll hear more about these three topics and I'll breakout sessions from JPMorgan Chase. So it's your boss say and Credit Suisse lapse in security and privacy. At top of mind for many Financial Services executive, I'd like to highlight how we engineered products and solutions with security Mine

by default, first and foremost, Google Cloud never sells customers data to third parties, with encrypted at rest and in transit by default security mode. 8 years of building zero. Trust networks that Google combines with ideas and best practices from the community. Finally, we are committed to providing customers the right security and operational control to protect my data and systems in compliance with regulatory requirements for excited. So many Financial Services. Firms are leveraging cloud-based technology. Now more than ever from

electronic trading to Everyday, banking Financial Services of being In Harm's who, what's next on? Google Cloud. Retail banks are adopting customer-centric attitudes and transforming everyday banking experience says, so that teams can collaborate more effectively and they customers get fast offerings. Are offering to help banks in three ways they can accelerate omni-channel banking from customized digital banking to helpful contacts into using a digital assistants Thomas recent ttpa, I'll ending solution that helps Linda's, process

payment, Protection Program loans quickly and efficiently. Google Cloud offerings can also transform data and analytics, so that banks have all the power they need to calculate risk. Liquidity Capital requirements, the mall with Google Cloud to modernize cooperation, which includes Mainframe optimization and hosting core banking Systems payment. Gateways and also discovering new opportunities to spite Market uncertainty, in three areas are new data sharing platform can bring the entire Castle Market because system Exchange Market data. Publishes aggregators and

consumers to an exchange that's in the monetize Market dates with scale, so chilly and easily. Hedge funds and asset managers can transform quantitative research & trading with high performance, Computing and MLK a Billet 8. Training institutions can use Google Cloud to speed up, analytic, processes, 10 eggs, from Monkey risk, calculations to portfolio. Derivative pricing and Regulatory reporting using numerical simulation. Hyperscale compute, an MLs old. Google Cloud can also help modernize cooperation to phones can

optimize the cost and processes creating more resilient operating models. And insurance companies are leveraging Google Cloud solution across these three areas to transform customer, relationships from smallfoot, two agents to policy and claims automation for most streamlined and Foster experiences to Advanced Data and analytics, especially when it comes to 360 customer analytics, for more tailored offering and Actuarial simulation with AI to mitigate risk and losses to modernize their cooperation is covering the entire stack from infrastructure and

applications station sensors and others. Here is the song playing, if the variety of financial services customer to ring with Google Cloud to transform their business. As I do clouds, we support customers existing Investments by working closely with our expanding ecosystem of pain. As technology Partners Service, Partners, and Ice, teas. And together, we can help a customer successfully sold the most difficult problems. These are the customers that already innovating with Google Cloud. As you can see, through clouds can help financial services companies on their transformation

Jenny's by neighboring them to reimagine customer relationships through data analytics and a, I buy transforming and modernizing day to use with machine learning and improving operational efficiency across business Lines by automating. Low touch manual, tasks, and mitigating risk. Let's take a look at what another one of our amazing customers. Who sang? I invite you to watch this short Q&A with Google Cloud, CEO Thomas, Korean and saw tacpack. Next government, security clearance in class, roll from the bank of new-york Mellon. Star Trek is wonderful to have you at Cloud. Next

hear, a Google. We're always looking for the big ideas that have the ability to drive transformational change in impact socket. Can you talk about how Gordon The Innovation is for bny Mellon is to follow our institutions and individuals to succeed in the global economy, Global systemically important financial institution. And the role we play in the markets. It's critical that we build a modern, Brazilian and digital first platform to everything that we do. We have a culture of being Nimble encouraging curiosity

diversity of parts, and experimentation collaboration with Appliance Partnerships between text me text our access to data Lisa, stood, imagine, and build unique products and services, take us back to the beginning of your journey. Where did it start? How is Jamal? We have a bimodal approach to our technology strategy. Significant investments in decomposing and Mark Jackson play in a best-in-class secure on-prem infrastructure. In parallel, on Motu, we are investing in Cloud technology to be the basis of our Innovation engine. The cloud platform allows us

to focus our digital capital on experimentation. We can deliver is the tremendous amount of broad granular and historical data too quickly to start business ideas. We have built a great design engineering team, couple with a deep subject matter experts has allowed us to engage with our clients and Bill market-leading Solutions of how you using our machine learning and Data Solutions to create measurable. Business impact is the largest cat in the world. We are the

Sole Provider appearance and settlement in this market, on a typical day, we settle 8.6 trillion dollars. Received at about 1 to 2% of the transactions fit on a daily basis. In terms of liquidity, shortage additional charges and transaction feature District Lines. We partnered with Google leveraging, Google Cloud platform to see if we can predict the probability of a transaction feel ninety minutes before the market close in Appliance, an opportunity to resolve this pending transactions. Why did you choose Google Cloud as your partner? Is

a game-changer for us, has invested heavily in becoming a data-driven organization to put data in the hands of all the decision-makers. This means lowering the barriers of excess of data. Be on data Engineers to software developers business analyst, production support product owners and climb racing team. Google is the data company around the data process closely aligns with a Wii at bny Mellon. Think about date as an asset. Such as data, acquisition profiling, organization controls lineage and version management Edition. What

is the culture of engineering, a Google which aligns with bny mellon's, engineering first culture, and the collaboration between the Google engineers and the bny Mellon Engineers to solve a business. Thank you started, that's up. Wonderful story on how our platform is helping a leading financial institutions bny Mellon, to get better inside of the data plan to transform. It enormously important to National Market globally Thanks for watching and I hope that you have a chance to enjoy other sessions on next on Earth.

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Thomas Kurian
Sarthak Pattanaik
Melanie Frank
Yolande Piazza