Professor Markos Zachariadis

Description:
The recent implementation (2018) of the newer version of the payment systems directive (PSD2) across Europe, as well as the open banking initiative in the UK (OBWG), push towards the creation of an open-banking environment through the introduction of open application programming interfaces (APIs). But many questions still remain. What changes will APIs bring to banks' competitive position in the market? Which market segments and products are going to be more attractive after… Show more

Description:
The recent implementation (2018) of the newer version of the payment systems directive (PSD2) across Europe, as well as the open banking initiative in the UK (OBWG), push towards the creation of an open-banking environment through the introduction of open application programming interfaces (APIs). But many questions still remain. What changes will APIs bring to banks' competitive position in the market? Which market segments and products are going to be more attractive after APIs are applied and how far will the various banks go to turn these requirements into opportunities to serve end customers better? How challenger banks and FinTechs will position themselves in this newly created economy that has the potential to fundamentally disrupt banking? A SWIFT Institute funded study (May 2016 and November 2017) by Professors Markos Zachariadis (WBS & Cambridge) and Pinar Ozcan (WBS), based on field interviews with incumbent and challenger banks as well as FinTechs, aims to shed light onto these critical questions and outline the challenges banks are currently facing in this endeavour. Show less

EU Horizon 2020 project: COFFERS (Combating Financial Fraud and Empowering Regulators), Work Package No.1. & Participant No. 8 (ULEI). Received award for the study of “Legal Entity Identifier (LEI): Identification infrastructures and reference data in the financial markets”. Principal Investigator: Prof. Yuval Millo (University of Leicester); Named researchers: Dr. Markos Zachariadis (WBS) and Dr. Niki Panourgias (University of Leicester): 2016.

Project descriptionDescription:
In… Show more

EU Horizon 2020 project: COFFERS (Combating Financial Fraud and Empowering Regulators), Work Package No.1. & Participant No. 8 (ULEI). Received award for the study of “Legal Entity Identifier (LEI): Identification infrastructures and reference data in the financial markets”. Principal Investigator: Prof. Yuval Millo (University of Leicester); Named researchers: Dr. Markos Zachariadis (WBS) and Dr. Niki Panourgias (University of Leicester): 2016.

Project descriptionDescription:
In this research-in-progress we aim to examine LEI from a number of perspectives and contribute to the literature of identification infrastructures, identifiers, and reference data standards in organizations and the linking of data for purposes of business intelligence. In particular, we are motivated and interested to shed new light on two key issues. The first addresses the socio-technical practices of identification found in the financial arena and, more generally, in markets. Here, the struggle around what information will be attached to each instance of the identifier and who will be responsible for maintaining it exposes the multifaceted nature of commercial identity: a valuable asset that requires partial and selective disclosure; a risk liability and a technological, organizational variable. The second concerns the LEI standard as a prime example of the techno-political nature of financial regulation. In order to understand the functioning of today’s financial markets, it is necessary to see how the technological and political spheres intertwine. Show less

The following distinguished academics sit on the NET Institute’s board of directors:
1. Professor Kenneth Arrow, Economics Department, Stanford University
2. Dr. Vinton G. Cerf, Vice President & Chief Internet Evangelist, Google
3. Professor Nicholas Economides, Stern School of Business, New York University
4. David A. Heiner, Vice President & Deputy General Counsel, Microsoft Corporation
5. Dr. Nathan Myhrvold, CEO, Intellectual Ventures
6. Professor Ariel Pakes… Show more

The following distinguished academics sit on the NET Institute’s board of directors:
1. Professor Kenneth Arrow, Economics Department, Stanford University
2. Dr. Vinton G. Cerf, Vice President & Chief Internet Evangelist, Google
3. Professor Nicholas Economides, Stern School of Business, New York University
4. David A. Heiner, Vice President & Deputy General Counsel, Microsoft Corporation
5. Dr. Nathan Myhrvold, CEO, Intellectual Ventures
6. Professor Ariel Pakes, Economics Department, Harvard University

The Networks, Electronic Commerce and Telecommunications ("NET") Institute is a non-profit institution devoted to research on network industries, electronic commerce, telecommunications, the Internet, "virtual networks" comprised of computers that share the same technical standard or operating system, and on network issues in general. Of particular interest is research on innovation and introduction of new technology in network industries. The NET Institute functions as a world-wide focal point for research and open exchange and dissemination of ideas in these areas. The NET Institute competitively funds cutting edge research projects in these areas of research. It organizes conferences and seminars on these issues.

The NET Institute gratefully acknowledges the generous financial support of the Microsoft, Google, the Kauffman Foundation, and the AT&T Foundation. Show less