Marty Chavez

@GoldmanSachs: This Is What (Process) Innovation Looks Like

If you are only interested in reading hyperbole-laced stories about the latest shiny things in #fintech innovation, then what follows is not for you. But, if you actually care about innovation that results in real impacts, then we invite you to keep reading. From the following angle, something changed around mid-2012 at @GoldmanSachs. Arguably, the groundwork for such change was laid prior to that time, but the impact of that groundwork (at least to observers like us) didn't become noticeable until the end of Q2-2012 when a metric that we are starting to track much more closely began to break out. Here's the setup: In an article published on February 7, 2016 by MIT Technology Review, "As Goldman Embraces Automation, Even the Masters of the Universe Are Threatened," a key statement made by Marty Chavez, the company’s soon-to-be chief financial officer and former chief information officer, caught our eye: "Goldman has already mapped 146 distinct steps taken in any initial public offering of stock, and many are 'begging to be automated.'" Our [...]

By | 2017-04-28T09:44:07+00:00 February 16th, 2017|Alphacution Feed|