Category: financial market

Explore the RegTech Revolution

New tools in the battle against online data misuse

Advances in digital technology are challenging our concept of privacy. In today’s world, huge volumes of data are being collected, shared and stored in unprecedented ways and at tremendous speeds. Everything we do with our connected devices generates data that can be used or misused without our knowledge. Controlling when and how our personal data…
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19th April 2019 0

European Supervisory Authorities gives advice on risk management and cybersecurity

The European Supervisory Authorities (ESAs) has published its joint advice in relation to improving communication risk management and cybersecurity. Last year, the European Commission requested the ESA to map the existing supervisory practices across financial sectors around IT security and governance requirements. Its aim was for the ESA to issue guidelines aimed at supervisory convergence…
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18th April 2019 0

Over a million UK businesses see Brexit as major obstacle to success

The number of small and medium-sized enterprises (SMEs) that view Brexit as a major obstacle to success has increased significantly since the referendum, according to research published in the journal Regional Studies by Ross Brown and John Wilson from the Centre for Responsible Banking & Finance at the University of St Andrews and Jose Liñares-Zegarra,…
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12th April 2019 0

Big banks’ clampdown on data puts Silicon Valley apps on alert

Long-simmering tensions between the financial industry and Silicon Valley startups are erupting behind-the-scenes into a battle over the reams of valuable data held inside Americans’ bank accounts Bloomberg File photo by Michael Nagle. The app was quickly becoming a cult favourite among penny-pinching U.S. consumers — and also a bane for their banks. In just…
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9th April 2019 0

How blockchain is becoming the 5G of the payment industry

New blockchain-based financial networks like the one launched by IBM last week will enable faster and more transparent cross-border payments and eventually become the platform for retail and other consumer transactions. As more blockchain-based payment networks and fiat-backed digital currencies – including one from the largest U.S. bank – emerge, experts and analysts are predicting…
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5th April 2019 0

Wiring financial organisations for regulatory success

Regulatory compliance is a time and resource-consuming burden for every financial institution – since the global financial crisis, regulatory requirements have increased exponentially. Regulators are increasingly demanding more detailed information, and firms now have to demonstrate greater levels of responsiveness, accuracy and monitoring of their data, transactions, governance and policies. More complex regulatory requirements mean…
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1st April 2019 0

The rise of ‘GiantTech’ poses a giant test for regulators

It’s almost become a distant memory, the near collapse of the financial system. Regulators were overwhelmed by increasing technical complexity, competitive product innovation run amok and global financial institutions that leap-frogged sovereign regulatory boundaries. Regulators, with no global framework to conduct oversight and decades of laissez faire regulation, had neither the tools nor the manpower…
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12th March 2019 0

How can banks build a genuine, effective digital culture?

The huge global increase in connectivity, prompted by the launch of mobile devices, has affected banks just as much as retailers. As a result, financial institutions have had no choice but to put digital at the front and centre of their strategies – using technology to enhance the customer journey at every touch point, personalising…
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11th March 2019 0

Risk, finance and regulatory reporting: adopting an integrated approach

Certain features are essential for handling the soaring amounts and types of data demanded by regulators, but others depend on each firm’s particular circumstances. That’s according to Jeroen Van Doorsselaere, VP, global risk and finance, for Wolters Kluwer’s finance, risk and reporting business. The financial services industry has gotten used to the idea that regulators…
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6th March 2019 0

Data breaches reported by UK financial services increases by 480%

The amount of data breaches reported by UK financial services to the Financial Conduct Authority (FCA) increased by 480 per cent last year, a study from RPC claims. Figures increased to 145 in 2018 up from 25 in 2017, of which, the retail banking space seeing the largest percentage growth in breaches. In 2017, there…
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5th March 2019 0