Industry leaders and luminaries in key disciplines join government sector representatives in a strategic effort to develop a new trust model for the global digital economy
New York and Zürich, November 21, 2016 - XY, an international group specialized in strategic consulting and the control of large estates, and Wise Media, established advisor of prime public and private sector organizations in topic areas of the digital economy, join forces creating the XY Advisory Board. Conceived as an interdisciplinary thought leadership symposium, the XY Advisory Board is an independent initiative looking at the scenario deriving from the digital revolution in the finance sector with the objective of driving the modernization of policies, methodologies and technologies in the interest of all stakeholders of the global financial ecosystem.
"With XY’s Advisory Board, personalities from different industries and luminaries in key disciplines convene at the table of innovation as advocates for transparency and control,” says Daniele Migani, Founder and CEO of XY. “Their joint contribution will support prime estate owners and regulators driving change in the finance sector in light of a new and comprehensive vision of the digital society’s requirements."
Chaired by Sophie B. de la Giroday, Partner at XY and President of Wise Media, the XY Advisory Board engages key figures from the world of business with global expertise in top management and industrial processes, luminaries in economics and societal development and scientists fathering disruptive technology innovation. Their contribution strengthens the effort of the government representatives and policy makers from around the world engaged over the years in Wise Media’s Finance Transparency Forum.
"Today’s hyper-connected world flooded by data sees techno-social systems becoming ever faster and more machine-oriented," says Sophie Boyer de la Giroday, President of Wise Media. "The era of big data and artificial intelligence calls for radical innovation in the framework of policies governing today’s global digital economy."
"Analyzing millisecond-scale data generated by the global financial market on an ongoing basis, it is becoming evident that we are facing a massive migration to a new all-machine phase characterized by large numbers of sub-second extreme events," says Gérald Santucci, Directorate General Information Society at the European Commission, now member of the XY Advisory Board and Finance Transparency Forum.
"In developed countries the priority is to introduce methodologies for independent control in order to re-establish investors’ confidence", says Suvi Lindén, former Minister of Communications Finland and member of the UN Broadband Commission, now member of the XY Advisory Board and Finance Transparency Forum. "As these same tools become available also in the developing world, societies can aspire to a quantum leap in modernization and establish a new credibility in combating corruption and fraud."
"Independent data gathering intelligence can be enormously useful in casting a much needed spotlight on the activities of financial entities whose operations are less than transparent. Surveys show that many sophisticated investors and institutions are demanding greater transparency in the marketplace to reduce risk and make more informed decisions," says Fen Osler Hampson, Director at the Center for International Governance Innovation (CIGI), co-director of the Global Commission on Internet Governance and now member of the XY Advisory Board. “Independent data gathering will invariably help to raise the bar on both transparency and accountability."
"As public and private sector organizations worldwide turn to electronic payment mechanisms for the commerce of goods and services, governments must embark on an extensive review of processes, structures and regulations," says Ali Al-Khouri, Vice-Chairman of the Arab Union for e-Commerce of the League of Arab States and Director General at the UAE Ministry of Interior, now member of the XY Advisory Board and Finance Transparency Forum. "It is impossible to say what the unintended consequences of innovations in financial technology will be."
"Large organizations must turn to leading edge technologies that can produce high-quality, real-time information about their cash structure and counterpart risks, exposure to forex markets and interest rates, and sensitivity to commodity prices." says Franco Tatò, top manager and former CEO of Enel and Mondadori. "Top management needs direct access to actionable information to govern the effect of economic and financial variables on the company’s stock market value more efficiently, also leveraging preventive impact simulations."
"Technologies allow for real-time visibility of assets in industrial and supply chain scenarios," says Åke Gustafson, Swedish inventor fathering disruptive innovations that led to the global diffusion of revolutionary products such as the Tetra Pak and Car Immobilizer and now member of the XY Advisory Board. "Similarly, tools for transparency must be developed to support control in wealth management."
"Confidence in the security of systems is a primary driver of economic and societal development," says Bernard Didier, founder of Morpho Systèmes, the world’s leading biometric technology company and now member of the XY Advisory Board. "It is fundamental to create new instruments and solutions to restore trust in the finance sector, a domain in which it was recently severely challenged."