China Merchants Bank opts for OneSumX regtech solution
China Merchants Bank chose Wolters Kluwer’s OneSumX for its regulatory reporting activity in Luxembourg.
Compliance
Regulatory reporting automation: mid-size banks face increased regulatory scrutiny
As regulations evolve globally, data has become both an essential currency and a pain point for financial institutions.
Banking Technology December 2017/January 2018 issue out now
In the eye of the storm we provide clarity.
Unibank becomes Armenia’s first bank to comply with Swift security standards
Unibank is now fully compliant with the required standards of security for the Swift payment infrastructure.
PSD2: regulation as a catalyst for innovation
PSD2 comes into force on 13 January 2018. It aims to open up the European payments market to greater competition and transparency, but its effect will be more far-reaching, acting as a catalyst for innovation not just in payments, but in the wider financial services market.
GDPR vs PSD2: a challenging contradiction or two sides of the same coin?
Are GDPR and PSD2 really that dissimilar and incompatible? Or do they combine to create a robust security mind set?
Infographic: GDPR & B2B marketers – less aware but more prepared
According to the latest research by DMA, a UK trade association for the one-to-one marketing industry, those in the B2B space are trailing slightly when it comes to having a detailed awareness of what the new General Data Protection Regulation (GDPR) laws entail.
White paper: eIDAS and e-signature – a legal perspective
In this eIDAS paper, legal expert Lorna Brazell of Osborne Clarke LLP explains electronic signatures under the EU’s new Electronic ID and Trust Services Regulation.
Top fintech stories this week – 1 December 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Debunking six myths on regulatory sandboxes
We are living through a period of unprecedented innovation in finance, and regulators know they need to adapt to keep up with the fast pace of change. To understand and manage the risks posed by new products, services, and business models, many financial authorities are setting up regulatory sandboxes or reglabs.
Al Salam Bank Seychelles selects iFinancial’s AMLtrac solution
Al Salam Bank Seychelles (ASBS) has chosen International Financial Systems’ (iFinancial) anti-money laundering (AML) solution, AMLtrac, as it plans to introduce domestic banking services for local and regional SMEs and corporates. As part of that planned expansion, ASBS, an offshore financial institution, has selected the know your customer (KYC) and document management, account monitoring, transaction […]
HPE adding AI to data centres with Nimble acquisition
Earlier this year, Hewlett Packard Enterprise (HPE) went on an acquisition spree meant to help the company improve its standing in the data centre market with products to address a range of issues customers faced as they moved to the cloud, reports Enterprise Cloud News (Banking Technology’s sister publication). Now, one of those deals is […]
Blockchain and Bitcoin round-up: 21 November 2017
From major crimes to KYC times. Our latest blockchain and Bitcoin round-up features Tether, Metal, Deutsche Bank and IBM. Digital currency firm Tether is feeling under the weather as it has reported that “funds were improperly removed from the Tether treasury wallet through malicious action by an external attacker”. The amount is a rather large […]
Interview: Javier Santamaría, EPC – SCT Inst, catalyst for a new world?
It may not provide all the ticks on everyone’s wish list, but the new SEPA Instant Credit Transfer Scheme (SCT Inst) could well be the start of something even more seismic for the European payments sector and also pave the way for a different, more immediate way of conducting business.
BNP Paribas in “global transformation” with Fenergo’s client lifecycle management tech
Fenergo says its flagship Client Lifecycle Management (CLM) solution has been selected by BNP Paribas “as part of its global transformation project”.
RiskMinds Live: streamed sessions from RiskMinds International
We’re live streaming from RiskMinds International 2017!
Fiorano launches PSD2 solution for banks
Fiorano Software, a specialist in integration middleware and API management, has launched Fiorano PSD2, a solution enabling banks to comply with the European Union’s PSD2 regulations.
White paper: demystifying PSD2
This free white paper discusses the implications of PSD2 from an end-user standpoint.
Actiance acquired by K1 Capital Management
Communications compliance and analytics company Actiance has made its exit this week. The California-based company has been acquired by K1 Investment Management, an investment firm focused on acquisition-based growth opportunities, reports Julie Muhn at Finovate (Banking Technology’s sister company). K1 will join Actiance with its rival, Smarsh, which specialises on archiving compliance. The combined company will reach […]
Blockchain and Bitcoin round-up: 16 November 2017
Coming straight after yesterday’s (15 November) action, here’s our latest blockchain and Bitcoin round-up. Features Mastercard in a patent place, ING Bank opening up, and another warning from the UK’s Financial Conduct Authority. Let’s start with yet another patent. Mastercard has jumped on the blockchain payments bandwagon by filing “Method and System for Instantaneous Payment […]
Reality Clash looks to make cash splash with cryptocurrency trading
While the fintech industry is no stranger to initial coin offerings (ICO) as a method of sourcing capital for start-ups, a firm is offering a novel way to make money via cryptocurrency trading.
Gibraltar Savings Bank goes live with iFinancial BankWare core system
Gibraltar Savings Bank has gone live on International Financial Systems’ (iFinancial) Bankware core system – the first phase of a three-phase implementation plan to replace its in-house legacy system.
OCBC Bank takes AI-m at financial crime
When crime comes calling OCBC Bank won’t be bawling as it has turned to artificial intelligence (AI) and machine learning (ML) for the big fight. The Singapore-based bank says: “On any one typical work day, an OCBC Bank anti-money laundering (AML) compliance analyst would log into the bank’s transaction monitoring system and find up to […]
Biometrics: a question of standards and yet more questions
Watching the recent of smartphone launches, I am taken aback by just how much smartphone manufacturers have led to the normalisation and acceptance of biometrics by consumers.
OneSavings Bank in regtech project with Lombard Risk
UK-based regtech vendor Lombard Risk Management is supplying its regulatory reporting platform, AgileReporter, to OneSavings Bank.
The changing face of financial crime compliance
Paul Taylor of Swift’s Financial Crime Compliance Services Division discusses the evolving compliance landscape and the critical role of technology in helping the industry come together as a whole to combat financial crime.
How mobile compliance can ensure productivity is not compromised
Customers trust financial firms with their details, so to protect the highly-sensitive information organisations must adhere to security and compliance standards. However, this can be challenging for employees as the processes can interfere with day-to-day operations.
CECL: managing implementation through collaboration
The accounting standard Current Expected Credit Loss (CECL), which requires banks to calculate expected credit losses and incorporate resulting provisions into its P&L statements, necessitates a flexible, adaptable technology solution that will enable closer collaboration among finance, risk and reporting functions.
Correspondent banking: it takes two to tango
The global correspondent banking network is under pressure in several countries as some financial institutions close relationships. While financial inclusion continues to climb the agenda of regulatory authorities and financial institutions pledge their support, the de-risking taking place in correspondent banking threatens to scupper inclusion.
E-Book: In-Memory Computing for Financial Services – Part 1
Turbocharge high-frequency trading, fraud prevention and real-time regulatory compliance with in-memory computing.
Sibos 2017: treasurers look to tech to untangle knots
Untangling the “knots” at global treasuries, especially with regard to bank maintenance issues around know your customer (KYC) and other compliance activities, was the theme of a corporate treasury session yesterday (18 October) at Sibos.
Open banking: nothing personal
Financial authorities globally are promoting open banking. While it represents a shift in the mindset of traditional banks, Heather McKenzie, editor of Daily News at Sibos, finds they may be up to the challenge.
Compliance: back to basics
Ensuring security on Swift’s network doesn’t have to be rocket science. Getting the basics right will help individual institutions and Swift’s community.
De-risking in trade finance: time to act
As financial authorities express concern about de-risking in correspondent banking, a similar phenomenon is emerging in trade finance, driven by the high costs of KYC compliance.
BIAN unveils API-ready release to boost cloud banking ambitions
The Banking Industry Architecture Network (BIAN), a not-for-profit fintech industry body, has launched its latest release of its service landscape. Termed SL 6.0, the framework is designed to provide a “globally standardised and simplified” banking architecture structure, using a service-based architecture.
KYC Registry aligns with Wolfsberg DDQ
Swift is aligning its KYC Registry with the new Wolfsberg Due Diligence Questionnaire (DDQ) for correspondent banks. First issued in 2004, the DDQ was updated in response to regulatory pressure.
Securities markets: standing at the crossroads
Financial technology has the potential to radically transform the securities industry. The fast pace of change could lead to disintermediation, according to an Iosco study.
Regtech to the rescue
Regulatory technology (regtech) is often cited as the answer to the rising cost of compliance, risk and reporting duties at banks. Will it help financial institutions escape IT silos and enhance control over data?
Cybersecurity: into the data breach
Cybersecurity has become a significant issue as attacks are increasing. In the new payments ecosystem, where third-party developers can directly interact with banks’ customers, data privacy and security become paramount, according to the World Payments Report 2017.
ECB Guide: assessments of fintech credit institution licence applications
The European Central Bank (ECB) has published a guide to assessments of fintech credit institution licence applications.
