Throughout her career, Jennifer Peve, DTCC Managing Director of Solutions Business Development and the Office of Fintech Strategy, has combined her extensive business acumen and technical knowledge to help design and deliver innovative solutions to further improve the financial industry’s market infrastructure.
In February, DTCC promoted Peve to Managing Director – an acknowledgement of her leadership and contributions in developing DTCC’s fintech strategy. And last week, the financial services industry recognized Peve’s accomplishments by naming her the Technology Innovator of the Year (Vendor) at Waters Technology’s Inaugural Women in Technology and Data luncheon held in London.
The awards recognize, promote, and celebrate the contribution that women make across the capital markets, specifically in the data and technology industries.
“It is very rewarding to be recognized through this award for innovation during this era of modernization,” Peve said. “I am grateful for the opportunity DTCC has provided me to take a leadership role in ensuring that we stay ahead of the industry when it comes to fintech.”
Peve joined DTCC in 2015 at a time when fintech dominated industry headlines. In her role, she oversees R&D direction, technical application assessments, developing related thought leadership content and forming partnerships with key industry stakeholders.
Peve tackled her new role with an innate drive to succeed. She stated that, “For me, it’s not just about using technology to do different things. It’s also about using technology to do things differently and finding opportunities to challenge the status quo and do things better.”
Bridging the Gender Gap
A "fintech census" led by EY and Innovate Finance in September found women represent just 29% of staff in the sector. Peve acknowledges the gender gap in the fintech field.
“Consider the younger generation and strive to encourage young women and children to get excited about STEM, that’s where a lot of energy needs to be spent,” she said. “Our future needs that because the challenges of tomorrow will require skills sets we don’t have today.”
“Consider the younger generation and strive to encourage young women and children to get excited about STEM, that’s where a lot of energy needs to be spent."
Solid mentorship is key to success. Peve said she has had the fortune of working with leaders, both men and women, who have encouraged her to grow. As one of the few women at the reins of technology innovation in the financial services industry, she is committed to be the same kind of mentor and leader for others, and especially to women, helping them to build their knowledge of fintech, being unafraid to step out of their comfort zones, and keeping themselves in the “driver’s seat”.
There’s a broad spectrum of fintech that exists today that will continue to evolve and mature. New technologies will continue to emerge. One thing is constant, though, says Peve. “At DTCC, technological innovation will continue to underpin new services designed to deliver client value.”
Helping firms increase efficiency and reduce costs are two big areas of focus for DTCC. To hone in on one technology solution that will deliver on one or both of those areas in the next five years is tough because it’s such a fluid space, said Peve.
Peve is now turning part of her attention to additional technologies, such as artificial intelligence (AI) and machine learning, to better understand how these technologies could be leveraged by DTCC for the benefit of the industry. She’s also assessing quantum computing, and where the trigger points are for R&D and investment, now and 5-10 years down the line.
“What’s most important for DTCC is to continue to focus on monitoring the landscape and continue to deliver products that meet our clients’ needs,” she said. “There’s a lot that can happen in five years but we’ll be well-positioned based on what we are doing today.”