Ria, Author at CFTE

CFTE and ACT collaborate on Generative AI in Corporate Treasury

Ria — Tue, 30 Jul 2024 06:00:58 +0000

London, July 30th 2024: As the corporate treasury sector anticipates a $300 billion boost from AI by 2026, with 34% of treasurers already integrating AI into cash management and 70% noting improved regulatory compliance, the need for advanced training is clear. Recognising this critical knowledge gap, the Association of Corporate Treasury (ACT) and the Centre for Finance, Technology and Entrepreneurship (CFTE) have collaborated on a shared mission: to equip the industry with essential skills in AI, crucial for modern treasury management.

The partnership between CFTE and the ACT introduces the launch of Generative AI in Corporate Treasury course, accredited by the ACT and featuring insights from over 10 global industry experts. The programme aims to equip professionals with the skills needed to leverage AI’s full potential in treasury management.

Experts will dive into the transformations of AI in the field of corporate treasury.

The course gathers key insights from ACT’s Annual Conference 2024, with structured knowledge taught by world-class speakers.

Participants will learn about foundations of Generative AI, pain points of AI in corporate treasury and leveraging AI in corporate treasury.

Bridging the Skills Gap: Empowering Treasury Professionals with AI

According to a report by Deloitte, 85% of treasury functions plan to increase their investment in AI technologies within the next three years. With AI expected to automate up to 40% of manual treasury tasks, the potential for efficiency gains is substantial. The potential of Generative AI in transforming corporate treasury functions is vast. High-performing organisations are already leveraging AI to drive significant value, with some dedicating over 20% of their digital budgets to AI initiatives.

By addressing the critical skills gap through their collaborative course, CFTE and the ACT are positioning treasury professionals to thrive in an AI-driven financial landscape. This programme will provide the necessary tools and knowledge to leverage AI effectively, ensuring that treasury teams can harness the full potential of this transformative technology.

“Keeping up with rapid technological advances, such as the use of Generative AI, is more important than ever for treasurers. The ACT is delighted to collaborate with the CFTE on this exciting new short course that will explore both traditional AI and Generative AI for treasurers and bring it to life with expert case studies and engaging footage and content from the ACT’s 2024 Annual Conference.”

Janet Legge, Deputy Chief Executive, Director of Awarding Body & Learning, the ACT

Integrating corporate treasury evolution through industry insights:

Generative AI in Corporate Treasury programme offers a comprehensive approach to both the theoretical and practical aspects of the industry. It features 3 key modules:

Foundations of Generative AI
Traditional AI in Corporate Treasury
Generative AI in Corporate Treasury

Who you’ll learn from:

Programme Director:

Huy Nguyen Trieu, Co-founder CFTE

Senior Lecturers:

Claudia Villasis-Wallraff, Head of Data Driven Treasury, Deutsche Banks
Royston Da Costa, Assistant Treasurer, Ferguson

Contributing Experts:

Andreas Gefnider – Director Solutions Consulting at TIS
Dino Nicolaides – Managing Director, Head of Treasury, UK & Irealnd at RedBridge
Daniel Wong – Head of Corporate Treasury at BAT
Darryl Claret – COO at Africa Sun Holdings
James Kelly – SVP Treasury at Pearson
Nagam AlKadhi – Deputy Treasurer at Canary Wharf Group
Naresh Aggarwal – Associate Director, Policy & Technical at the ACT
Nick Pedersen – Global Head Digital at NatWest

About CFTE

The Centre for Finance, Technology & Entrepreneurship (CFTE) is a global education platform that aims to equip financial professionals and organisations with the necessary skills to remain competitive in a rapidly changing industry. With offices in London, Singapore, Hong Kong and Abu Dhabi, CFTE partners with Fortune 500 companies to build their knowledge in Financial Technology, whilst simultaneously supporting their digital transformation process. Our leading training programmes, curated by global industry experts, help talent build skills to join the digital transformation of finance.

About ACT

The Association of Corporate Treasurers is the professional body for treasurers and associated roles in the UK and beyond. Our purpose is to set standards and qualifications in treasury, support and develop treasurers throughout their careers, and ensure the voice of the real economy is heard by regulators, policymakers and employers. We were one of the first professional bodies in the treasury, established in the 1970s, and we are the only treasury association to hold a Royal Charter.

Contact:

Point of contact:

partnership@cfte.education

aifa@cfte.education

The post CFTE and ACT collaborate on Generative AI in Corporate Treasury appeared first on CFTE.

Fintech Ideathon at the Future Skills Forum

Ria — Thu, 20 Jun 2024 10:19:16 +0000

CFTE co-founders, Huy Nguyen Trieu and Tram Anh Nguyen, presenting the Fintech Ideathon at the Future Skills Forum

Dubai, 8th May 2024: The Future Skills Forum, was hosted by the Centre for Finance, Technology and Entrepreneurship (CFTE) on 8th May in Dubai. This prestigious event, held at the Museum of the Future in Dubai, served as the perfect setting to bring together 800 policymakers, industry leaders, entrepreneurs, and young innovators for a packed day of discussions, networking, and collaboration.

In conversation with Tram Anh, H.E Noura Alblooshi, General Manager at the Emirates Institute of Finance (EIF) and Dr Allen Baby, Chief Learning Officer EIF

Future Skills Forum Ideathon in Partnership with EIF

The Future Skills Forum commenced with an ideathon in partnership with EIF’s ETHRAA programme, aimed at fostering innovation among young Emirati graduates. The ideathon was structured around four key themes: Artificial Intelligence (AI), Blockchain, Sustainability, and Fintech.

CFTE’s co-founder Huy Nguyen Trieu, giving an introductory speech

Ideathon at the Future Skills Forum alongside Tram Anh Nguyen and Huy Nguyen Trieu, co-founders CFTE, Saqr Ereiqat and the Key Participants and Mentors

We had an opening remark by CFTE’s co-founder, Tram Anh Nguyen who shared that “We could not dream of a better place to launch it, inside The Museum of The Future with a quote inside it by His Highness Sheikh Mohammed bin Rashid Al Maktoum with such an important meaning: “The future belongs to those who can imagine it, design it, and execute it”

Together with our esteemed partner the Emirates Institute of Finance (EIF), we co-organised an

to help Ethraa’s professional students to launch an idea of a startup. We know it is so important. Ethraa is empowering Emirati talent with the skills needed to thrive in the financial sector of tomorrow, and thinking like an entrepreneur is important. One of key successes for young entrepreneurs is the support they can get in their journey to cultivate a mindset of being an innovator with entrepreneurial skills” said Tram Anh Nguyen, co-founder CFTE.

“Through collaboration, commitment, and future development, we can construct a workforce that is adaptable, resilient, and prepared to thrive in the exciting world that awaits,” said H.E Noura Alblooshi, General Manager at the Emirates Institute of Finance (EIF), emphasising the importance of equipping the workforce with essential skills for success in an AI-driven world.

Host of Ideathon

The ideathon was hosted by Saqr Ereiqat, an industry leader with over thirteen years of experience focusing on the Middle East and Africa regions. He is a partner at the TradeDog Group and CEO of TDMM.io. Previously he co-founded Crypto Oasis Ventures and Riddermark, a boutique advisory firm that invests and grows fintech, blockchain, healthtech, and govtech solutions.

Ideathon Host: Saqr Ereiqat (CEO of Trade Dog Market Manager, Co-Founder of Crypto-Oasis Ventures, and Co-founder of Riddermark)

Key Participants and Mentors

The ideathon featured mentors from various global fintech, blockchain, and AI sectors. Their guidance was instrumental in shaping the participants’ ideas.

Key mentors included:

Takeshi Kito, CEO and Co-founder of ELEVANDI Japan
Isabela Ududec, Chief Operating Officer of Magnati
Akram El Youssi, Founder and CEO of Instaval
Nadeem Ladki, VP Commercial – MENA & International, Bitpanda
Khalid Al Hosani, Transformation Manager, ADNOC Distribution
Sarah Abuagela, Head of Investment and Partner, Ceras Ventures
Ibrahim Muhammed, Payments Consultant, Finxplorer Consulting Services
Olasupo Ogunsanya, Digital Product Owner, RAKBank
Sophie Guibaud, Co-founder and Chief Commercial & Growth Officer, FiatRepublic
Sampriti Jain, Innovation Manager, GELLIFY
Andrei Afanasiev, Regional Director, Paysend
Abdulaziz S. Qurashi, Process Engineering Lead, Siemens
Joe Sejean,Mentor and Expert, GLEAC
Saed Ereiqat, Ecosystem Manager, Crypto Oasis
Soufia Trabelsi, Ecosystem Business Development, Flare Network

Judges and Evaluation

A panel of seasoned industry experts evaluated the projects based on innovation, scalability, impact, and clarity of presentation. The judges included:

Gaurav Dhar, CEO of Marshal and MENA Fintech Association
Phil Watson, Managing Director of Platform Development and Innovation at Citi
Sarah Abuagela, Head of Investment and Partner at Ceras Ventures

Judges and audience of the ideathon

Winners of the Ideathon: Innovative Solutions for a Digital Future

Winners of the Ideathon

1. Tawasal (Gold Award)

Team: AHRF

Description: A real-time data-sharing platform that enhances communication between public and private sectors using AI and Blockchain.

Benefits: Time and cost efficiency, real-time data sharing, unified KYC process.

Challenges: Ensuring data privacy and security.

2. Banking.ae (Silver Award)

Team: Banking.ae

Description: An AI-driven platform providing personalised banking product recommendations.

Benefits: Simplifies decision-making for customers, saves time and costs, enhances customer satisfaction.

Challenges: Convincing banks to release data, keeping up with dynamic financial information.

3. Kharda (Bronze Award)

Team: #1

Description: A SaaS application for efficient cash management targeting both B2B and B2C sectors in the GCC.

Benefits: Improves cash management, reduces risks, assists banks in managing cash flow.

Challenges: Mitigating theft and business interruptions, building trust with users.

About CFTE

For further details about the Future Skills Forum and registration information, please contact:

Contact: CFTE MENA Office

Email: mena@cfte.education

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CFTE Co-Founder Tram Anh Nguyen moderated the OMFIF panel at Digital Money Summit 2024

Ria — Wed, 19 Jun 2024 16:33:22 +0000

CFTE Co-Founder Tram Anh Nguyen moderated the OMFIF panel at Digital Money Summit 2024

London, 19th June 2024: The OMFIF Digital Money Summit 2024 recently hosted a thought-provoking panel moderated by Tram Anh CFTE’s co-founder of CFTE, as she discussed with an industry experts on the Future of Private Money managing stablecoins and tokenised deposit with Andrew Gallucci of Circle, Rodney Garratt from the Bank for International Settlements, and Timothy Massad from Harvard Kennedy School.

Tram Anh emphasises that private money and digital currencies are integral to the evolving financial landscape. According to her, the growth of digital assets and private monetary systems reflects a broader shift towards decentralisation and democratisation in finance. Tram Anh Nguyen believes that these developments can lead to a more inclusive financial system, provided that the industry ensures proper education and upskilling for individuals to adapt to these changes.

Understanding Stablecoins and Tokenised Deposits

Key Differences:

Stablecoins: Digital bearer instruments designed to maintain a stable value by being backed by reserves. Transferred on decentralised blockchains, they pose unique regulatory and operational challenges.
Tokenised Deposits: Digital representations of traditional bank deposits. They function within the banking system, are insured, and operate under a government-backed resolution framework. Unlike stablecoins, they are not bearer instruments.

Insights from Timothy Massad and Rodney Garratt:

Tokenised Deposits: Should be treated like insured bank deposits with government-backed frameworks.
Stablecoins: Non-bank instruments fully backed by assets, raising validation and resolution concerns. They introduce liquidity risks, as evidenced by the Silicon Valley Bank failure.

How can a payments ecosystem develop where both formats coexist?

Multiple Payment Forms: Diverse methods can coexist.
Rails as the challenge: The key question is choosing suitable payment channels (rails).
Account-based vs. open models: Are bank-controlled “walled gardens” preferable to open models?

Is there a risk of fragmenting liquidity or creating inefficiencies with both formats coexisting?

Stablecoins and sanctions: Despite adhering to sanctions lists, wallets can be transferred and cashed out in unsanctioned jurisdictions.
Potential solutions: Monitoring and risk assessments aren’t viable. Upfront KYC approval for payments might be a way forward.
Tether’s role: Regulatory frameworks could address convertibility and arbitrage concerns.

Wholesale CBDC and Cross-Border Payments

Future Considerations:

Project Libra’s Impact: Initiated discussions on tokenised deposits and central bank settlement.
US Challenges: Friction due to lack of a federal payments framework.
EU’s Instant Payments: Raises questions about the future roles of stablecoins and tokenised deposits.

In conclusion, the panel at the OMFIF Digital Money Summit provided a comprehensive overview of the future landscape of private money. As stablecoins and tokenized deposits evolve, their distinct characteristics, regulatory requirements, and potential use cases will shape the future of digital finance.

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