5 questions with Andrew Speers, Director of Product and Innovation at Natwest
Could you define what your job role details and your day to day routine?
My role is the Director of Product and Innovation. I don’t really have a typical day to day. But a general guide, I lead the innovation agenda for my product set (Working Capital and Trade) focusing on new technologies including blockchain and digitalisation. I design new products and solutions based on new and emerging technologies to meet customer needs and respond to competitive threats or new entrants. I act as an industry innovator in new technologies; representing and negotiating NatWest’s position at a senior level in industry groups, consortiums and with FinTechs.
How is your organisation applying blockchain?
We have commercialised Blockchain solutions for Loan Syndications and are involved with commercialising solutions for Global Trade and Open Account Trade Finance, we are also investigating new use cases and hope to make announcement on this soon. We want to be a notable bank in the blockchain space as we see tremendous opportunity for our industry and client’s as a result. We are teaching our teams to code on Corda and forming a blockchain centre of excellence in our technology business.
What were the biggest challenges in using this technology?
Education and Standards.
What can we expect from the company in the next 12 months?
To go live with Voltron and Marco Polo amongst other exciting projects we have not announced yet.
What can we expect from blockchain in the next 12 months?
The establishment of the Universal Trade Network organisation in Singapore, who is looking to be the W3 for Blockchains. This group will write and establish standards for different Blockchains to break down the silos, such as Hyper Ledger versus Corda, which will create further benefits of Blockchain.
What are you most looking forward to at the show?
Hearing other people’s perspectives and views on Blockchain and learning from experts.