State Street Global Exchange: Why We’re Excited about NewCo Boston

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State Street Corporation World Headquarters

This April, MassTLC’s NewCo Boston will return for it’s 3rd year, and over 75 companies will open their office doors to attendees. This event is designed to get you connected to Boston’s most innovative people and companies. See why people were excited during last year’s event

MassTLC member and NewCo Boston sponsor, State Street Global Exchange (SSGX), will be leading a session on the various ways that cognitive computing is changing the way it delivers value to its front-office clients. We had the opportunity to talk with J.R. Lowry, SVP, Head of Innovation and Advisory at SSGX, about why they are involved with NewCo Boston.

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Have you participated in NewCo Boston before? If so, what did you enjoy about the experience?

What got us really excited about hosting a session at NewCo Boston was the fact that they were highlighting the city’s most inspiring and innovative companies. Yes, State Street is one of the largest companies in the city, but we are doing both inspiring and innovative things. At roughly 225 years old, we’ve seen it all. We’ve seen the highs and the lows and watched as the financial services industry transformed into what it is today. To do this, we’ve constantly adapted our business model to fit the changing landscape over the years, which I find to be both admirable and impressive. Whether it’s been globalization, consolidation, or regulation, we’ve always kept our focus on offering the best service possible to our clients. We haven’t just survived; we’ve thrived.

Why are you excited about this event?

At State Street Global ExchangeSM (GX), we’re working tirelessly to solve the pain points of our institutional investor clients. Solving problems should be no surprise to you. But what might surprise you is HOW we’re solving them for our clients. Our CEO, Jay Hooley, has been saying for a few years now that we need to start thinking and acting more like a technology company, and not just a globally regulated financial institution. By saying this, he has made clear our intention to add value to our clients by leveraging the power of technology. And that’s exactly what we’re doing in State Street Global Exchange: we’re working hand-in-hand with our clients to uncover what their key pain points are and helping to solve them. And we’re excited to share with you some real life examples of this in action.

What can attendees expect to learn at your session?

Because of our sector, our size and regulatory threshold, I’d bet a few attendees would associate “State Street Bank and Trust” with “innovative.” We’re doing some really great things here at the bank and in GX, specifically, and I’m excited to share a few of those things with you.  Attendees will have the opportunity to hear, first hand, from two of our product managers and some of the cool technologies that power their solutions. My hope is that attendees leave our session and have a whole new appreciation of how even a large, regulated company can apply innovative technologies to service our clients.

What are you hoping to get out of participating in NewCo?

By participating in NewCo and sharing some of the cool things we’re doing in GX, my hope is that we begin to change the perception of the role technology plays in the financial services sector. Yes, we perform investment fund accounting services for our clients and custody their assets. But how can we use technology do to that better or faster? That’s the exciting part of what’s going on at State Street: we’re dedicated to providing our clients the best service we can. That has never changed; but what has is changed is HOW we service them, and there are some cool things going on in that area that we’re excited to share some of that with the NewCo attendees.