State Street head of digital product development, innovation to speak at Bank Automation Summit

Nicole Olson, vice president of digital product development and innovation at State Street, will join a panel on “Leveraging Smart Contracts and Blockchain for Smarter Banking” at Bank Automation Summit 2022 on Wednesday, March 2, at 1:30 p.m. ET at the JW Marriott in Charlotte, N.C.

The panel discussion will address settlements using distributed ledgers and the use of smart contracts to both speed interbank transitions and solve know your customer and anti-money laundering (KYC/AML) operations.

In her role at the Boston-based State Street, Olson creates the financial institution’s digital asset strategy and leads the creation of new digital asset-related offerings. She will share the bank’s experience using smart contracts on distributed ledgers.

The $303 billion State Street Bank, which has $3.9 trillion assets under management, revealed in December 2021 that it had completed a margin calculation process for the live trade of a 30-day foreign exchange forward contract with Vanguard using blockchain technology and smart contracts to automate the collateral settlement.

The bank will integrate and scale the new solution before rolling out to additional clients through an application programming interface (API), then gradually transition the older system.

“I’m excited to join the Bank Automation Summit panel on leveraging smart contracts and blockchain for smarter banking,” Olson told Bank Automation News. “This is a critical and timely subject, as banks are looking to better understand how they can implement blockchain solutions into their go-forward strategies.”

Prior to joining State Street, Olson co-founded Electronifie, an electronic corporate bond marketplace, and served as its chief strategy officer. She previously worked at Liquidnet, where she launched the equity capital markets business, established and managed strategic partnerships, rolled out new markets in Europe, Asia and Canada, and built the company’s investor relations program.

Bank Automation Summit, taking place March 1-2 in Charlotte, N.C., is the first and only event to focus solely on automation in banking. The event will feature the brightest minds from across financial services on intelligent automation strategies and deployment. Learn more and register for Bank Automation Summit 2022.