2023 is already shaping up to be the exciting culmination of many years of hard work building our products and partnering with our clients to play our part in bringing intraday liquidity and payments solutions for the new wholesale digital ecosystem.
In anticipation of the 2023 year, we have encapsulated five key themes that will lead to a beneficial year for the ecosystem:
1. Accelerated Ecosystem Delivery
2023 is ‘THE’ year for the wholesale digital ecosystem and will start to collectively graduate as a set of complementary businesses driving joined up digital market structure change
2023 will see delivery after delivery across the wholesale ecosystem including some of our own solutions via market partners. Several foundational business platforms will both come to market and interoperate. We are excited to be on this journey as Fnality’s blockchain partner as it breaks new ground, providing in production a new digital cash settlement asset that enables many other digital wholesale platforms.
As part of this wave of wholesale platforms hitting production we are working hard on both MarginBloc and Interbank Payments solutions with scheme providers.
Watch this space for announcements on our patterns bringing our solutions to market and keep tabs on Fnality’s news feed for the updates.
2. More Connected Business Platforms
We see the more technically focused Interop efforts transitioning to a business led view of serving the intraday capital markets lifecycle needs as a set of complementary connected business platforms
In 2022 Adhara played a key role in driving the foundations of interop across its TestNet in partnership with Fnality, proving out flows from intraday Repo’s to FX Swaps (see press releases*), these ways of working are also embedded in both of Adhara’s Interbank Payments and Margin (MarginBloc) solutions. These were all excellent bilateral patterns that will hopefully form the technical basis of a broader community standards drive in 2023 and extend into a more joined up mobilization of digital assets across these market lifecycle events.
Watch this space for more announcements on those joining us in the intraday capital markets TestNet.
3. New Interbank Payments Offer
The Adhara vision for global interbank payments gains momentum in 2023
The last 7 years have seen many bids to reimagine the orchestration of interbank payments, this year we will see a new player enter this frame but as part of an overall ecosystem movement not the typical walled garden strategy.
Watch this space for our series on the launch of the future of interbank payments orchestration.
4. Treasury’s Drive Internalisation Now
Bank Treasury’s Move to internalisation as external intraday ecosystem arrives
We have seen an acceleration in Banks’ use of digital assets for internal branch and subsidiary transfers. This drives intra-group liquidity benefits and a material reduction of FX, payments and overall operating costs. The Adhara Hub suite of solutions provides the gateway and ability to drive these benefits and savings. Via real-time visibility and control of digital assets banking groups can implement liquidity and payments hub architectures to optimize intraday funding, providing real time payments and treasury services both to their own internal group and their clients.
Watch this space for our partners bringing this offering to scale.
5. Future Treasury Operating Model emerging
At Adhara we see the 2 sides, internal and external liquidity optimisation, coming together in a new way for Treasury at banks
Future operating model destination: Being involved in the creation of the new wholesale digital cash foundation with Fnality, our multi bank solutions, as well as working with several banks on their Hubs strategies as above (4) it is clear that the real value is having a joined up strategy for Treasury that drives their future operating model. Practically this means thinking about the transition over time to a consolidated cash settlement liquidity pool operating intraday, leveraging new intraday funding platforms and ultimately looking at new ways to deploy. This is something we have been thinking about since the inception of Adhara and is why we have developed DC Commander to be that consistent anchor for Treasury through the transition whilst getting them off the start line now. DC Commander provides a window for Treasury teams to access all Adhara solutions across both payments orchestration and liquidity optimisation, whilst operating within a tokenized ecosystem.
Watch this space for a series of DC Commander product launches as the ecosystem takes shape this year.