Tag: risk management

Explore the RegTech Revolution

Banking software company Temenos acquires Logical Glue for £12m

By scooping up London-based Logical Glue, Temenos is strengthening the legal compliance of its banking platform. Launched in 2012, Logical Glue uses artificial intelligence (AI) to inform better decisions through huge data sets. This is particularly useful for banks as global regulators are increasingly mandating that customers have the right to know how automated decisions…
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19th July 2019 0

5 Dreaded Events that Threaten Information Assets Compliance

  Life has never been harder for governors of financial services records and data. It was tough enough, in the days before data privacy regulation got brutal, keeping pace with the “What?”, “How?”, “Where?” and “Who?” of records management, alongside the monitoring and maintenance of effective security and retention processes. Today, complexities arising from the…
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18th July 2019 0

The old rules no longer apply: Risk management and regulatory reporting in the cloud

Deploying new applications on the cloud is now the default. The question is not if applications should be built in the cloud or existing workloads should be migrated, but how fast can financial institutions (FIs) remove traditional IT constraints in the age of digitalisation. In the race to innovate, FIs are already missing opportunities to…
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17th July 2019 0

FCA working with HM Treasury to finalise rules on SM&CR extension

The Financial Conduct Authority is working with HM Treasury to publish its final rules on the extension to the Senior Managers and Certification Regime (SM&CR). SM&CR was initially introduced by the FCA in 2016, with a goal of lowering harm to consumers and boosting market integrity. The regulation encourages a culture of all levels of…
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16th July 2019 0

Voya Launches Human-Tech Hybrid Investing Platform

The new tool will bring automated investing to retail wealth management clients, with support from human advisors. Voya Financial Advisors, the retail wealth management arm of Voya Financial, is launching a new digital advice platform to support its advisors and retail clients, according to an announcement. Called Voya Digital Adviser, the application provides investors with automated,…
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12th July 2019 0

European Supervisory Authorities calls for improved clarity on cross-border activities

The Joint Committee of the European Supervisory Authorities (ESAs) calls for more clarity on activities carried out through digital means, in the new report. In a new report on the cross-border supervision of retail financial services, the ESAs has identified the main issues national competent authorities (NCAs) face with supervising financial institutions that provide cross-border…
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11th July 2019 0

4 Key Strategies To Create a Future-Proof Digital Bank

Deploying a digital-first banking platform is not only now possible but mandatory for financial institutions of all sizes. To compete effectively in the future, every bank and credit union must understand the four facets of a digital platform strategy — omnichannel capability, modular structure, open API architecture, and smart technologies. Consumers used to shop around,…
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9th July 2019 0

Few UK firms are cyber insured despite financial losses

More than one-fifth of UK firms have been impacted financially by cyber attacks, yet potentially more than three-quarters of companies polled have never been insured for cyber-related losses  Some 22% of UK businesses have suffered a cyber attack that has cost them financially, according to a survey of more than 1,000 senior decision-makers from UK…
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8th July 2019 0

Technology Overtakes Regulation as Key Driver of Change in Compliance

Compliance and the role of the compliance officer have changed significantly over the past decade as a result of escalating regulation, technology development, an increasing focus on culture and conduct risk, and the ever closer relationship between compliance and the business. Automation has also come to the fore as compliance departments working with rising volumes…
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3rd July 2019 0

Regulators struggling to oversee crypto assets

The International Organization of Securities Commissions (Iosco)’s attempt to harmonize crypto regulation will have no immediate impact, as national regulators are still failing to understand jurisdictional governance, says a lawyer. While the CEO of a crypto exchange says the lack of adoption of current regulation to crypto, has created a bottleneck effect. “While efforts to…
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2nd July 2019 0