All the FIs: Commonalities, crossovers and challenges in financial services
Part 1 – KYF (Know Your Fis)
There’s nothing the financial services sector likes more than creating new acronyms and abbreviations to describe its functions and services. While acronyms like ISDA, SWIFT and SIBOS have over time evolved into ‘brands’ in their own right, the plethora of three-letter acronyms (TLAs) and short form descriptors for financial services (Fi), applications (apps!) and processes can be confusing.
This is certainly true with respect to the advent of digital technologies in financial markets, and the rapid introduction of terms like DeFi, CeFi – even HyFi – into the TradFi world. But what do they all mean?
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