Intelligent CIO Europe Issue 56 - Page 18


83 % of tech leaders concerned about looming recession , but optimistic for 2023

On a positive note , 59 % are optimistic for 2023 and 52 % plan expansion in the next 12 months .
Just under half ( 45 %) think remote working will have a negative impact in an uncertain economic environment and that people need to be together in an office environment to ensure maximum productivity and collaboration . Some ( 44 %) believe remote working is a positive change for mental wellbeing and potential office cost savings . recent survey of tech business

A leaders has revealed that 83 % are concerned about a looming recession . That ’ s according to B2B tech PR agency , CommsCo , who surveyed 185 UK IT founders and leaders to uncover the concerns felt in the face of the current economic climate .

The survey reveals that 37 % believe the economic climate is the biggest threat to their business , followed by staff retention ( 26 %). Over half ( 77 %) believe the recession will affect investment in the tech market . Plans to protect against recession include increasing the cost of services ( 49 %) and reducing marketing spend ( 47 %).
Leaders were completely divided when it came to advising other entrepreneurs to set up in this environment , with 47 % believing they would encourage them vs 43 % saying the opposite .
When asked what has been the single worst event for business , 43 % of respondents pointed to COVID-19 , followed by Brexit ( 25 %) and war in Ukraine ( 18 %). The 46 % that stated Boris Johnson was bad for tech business will be pleased with recent events .

Finastra and HSBC collaborate to bring Bankingas-a-Service FX capability to mid-tier banks

Finastra and HSBC have announced that they are working together to distribute HSBC ’ s FX services via Finastra ’ s FusionFabric . cloud platform under a Banking-as-a-Service ( BaaS ) experience . This collaboration will take advantage of the best elements of modern API-driven connectivity with licensed institutions ’ secure , regulated infrastructure .

The first phase of the rollout will provide both indicative and executable FX rates to regional mid-tier banks via a plug-in to Finastra ’ s Fusion Kondor , a solution with low maintenance and ownership cost , backed by the liquidity and robust risk management capabilities of one of the world ’ s largest FX franchises .
Integrating HSBC FX services with midtier banks will allow participating banks to deliver a wide range of currencies to their customers through branch networks and other retail channels , without requiring any additional technology integration . It will also provide clients with highly automated FX pricing capabilities , allowing banks to process higher FX volumes and to differentiate themselves while maintaining their own customer relationships . Corporate clients will benefit from increased transparency of pricing and market conditions , improved ease of execution and simpler currency risk management .
18 INTELLIGENTCIO EUROPE www . intelligentcio . com