World Fintech Report 2020: “Traditional banks are at a critical juncture”
“They must embrace Open X or risk becoming irrelevant,” says John Berry, CEO of Efma.
Reporting
Avaloq extends Actico partnership to integrate compliance tech
Swiss technology vendor to embed compliance solution into its platforms.
FNZ-GBST merger under scrutiny from UK’s competition watchdog
CMA says the combination of two major players could squeeze out smaller firms.
SoftBank attacks Moody’s after debt downgrade
Moody’s cited SoftBank’s “aggressive financial policy” as it cut its rating from Ba1 to Ba3.
The need to offer personalisation in financial research
It needs to be disseminated in a customised manner to provide personalised insights for clients.
China leads the way in adoption of ISO 20022 for payments
PBOC published its ISO 20022 migration plan as long ago as 2011.
Metro Bank cuts two thirds of new branches and returns £50m to BCR
The bank is paying back £50m of its fund from BCR.
UK fintech global investor figures for 2019 propped up by Worldpay deal
88% of the figure is made up of the Worldpay mega deal.
A look ahead to strong customer authentication
It’s vital that we use the year ahead to invest in long-term consumer testing.
Lloyds profits drop as PPI legacy takes its toll
The bank has eight times more than expected for PPI claims.
Banks’ compliance heads trapped between regulations and cutbacks
Governor Software CEO says investment in compliance technology is crucial.
Cybercrime in financial services: Work together to win the war
We need is a smart, flexible way of working together anticipate and respond to threats.
BIS fintech report: More harmonised standards and less TPP reliance
BIS has published a cross-country review on the fintech regulatory landscape.
Industry undecided on UK’s fintech funding success
The industry is undecided over roughly $1 billion dollars.
Video: Top fintech stories this week – 24 January 2020
FinTech Future’s weekly news round-up.
Regtech: the new lifeblood of compliance
It changes the current compliance game for the better.
EBA underlines need for trust as industry adopts big data and analytics
European regulator observes that two-thirds of EU firms now producing big data services.
ESMA issues final report on SFTR, tackles non-EU LEIs
European regulator posts final notice before SFTR’s April live date
White paper: Digitalisation, automation, coverage, timeliness and reliability
Challenges regarding the automatic exchange of information (AEOI) regarding tax matters summarised.
Secure Trust Bank in regtech project with Jaywing
Jaywing’s Echelon will automate commercial IFRS 9 processes at Secure Trust Bank.
Bank of Thailand selects SimCorp Dimension for investment management
Thailand’s central bank, Bank of Thailand, has selected SimCorp Dimension as its new investment management platform to support reserve management and monetary policy operations of its $226 billion reserves.
CRS: the end of tax evasion?
Tax evasion and tax fraud have been affecting governments finances all over the world over the decades. It occurs within a country and across countries. Thus, a single country cannot solve the problem on its own. Countries need to work more together and internationally to combat the problem home and abroad.
Banco de Mexico revamps risk management tech with Finastra’s Fusionrisk
Banco de Mexico, the country’s central bank, is replacing its legacy risk management software with Finastra’s Fusionrisk.
Credit Suisse makes headway in digital space in Asia
Credit Suisse has launched two solutions in the digital space to keep up with consumer expectations: digital client on boarding for private banking and automated account aggregation and reporting.
Vontobel selects SimCorp Coric for fund reporting
Swiss-based Vontobel Asset Management has chosen SimCorp Coric to automate its client communications and fund reporting processes. Vontobel will deploy SimCorp Coric as a hosted solution via Microsoft Azure and the agreement will see the Coric solution replace in-house manual processes as well as an existing incumbent third-party solution. Stuart Keeler, managing director of SimCorp […]
Swedish Export Credit implements Wolters Kluwer’s OneSumX for IFRS9 reporting
Swedish Export Credit Corporation (SEK) is implementing Wolters Kluwer’s OneSumX regulatory reporting software for International Financial Reporting Standards (IFRS) 9 reporting.
Wolters Kluwer wins system selection at Bank of Jordan
Risk management software vendor Wolters Kluwer says its OneSumX system won Bank of Jordan’s tender. OneSumX will support the bank’s liquidity risk and asset and liability management (ALM) operations.
Shedding light on shadow banking reporting
We take a look at the new EU reporting requirements for managing exposure to shadow banking. There are plenty of challenges ahead, not least for the systems that will need to be updated to ensure that firms are able to adequately cope with the new guidelines.
TAS and targit team up
Italy’s TAS Group and targit GmbH Austria have signed a deal to collaborate on bringing a Software-as-a-Service (SaaS) model for liquidity risk management and reporting within reach of tier two and three banks throughout Central and Eastern Europe, including Austria and Germany.
New cash and liquidity management system at Bank Mendes Gans
A Dutch international cash management services specialist, Bank Mendes Gans (BMG), is implementing a new cash and liquidity management system, SmartStream’s Corona. It will go live in Q4 2016, managing BMG’s 500,000 transactions per month.
Vermilion secures asset manager in Australia for reporting
Vermilion Software, a UK-based supplier of client reporting and communications software, has been selected by one of the largest investment managers in Australia, Challenger. Challenger has chosen Vermilion Reporting Suite for its institutional client base. David Mackaway, general manager of operations at Challenger, says: “Vermilion’s multi-tenanted approach will enhance our ability to deliver reporting for […]
Reporting under Basel III: avoiding past mistakes
In a world where prudential regulatory rules are interlinked the old temptation to explore one regulatory development at a time is damaging. Regulatory reporting, and the technological systems behind it, need to adapt if we are to avoid past mistakes, writes Selwyn Blair-Ford, head of global regulatory policy at Wolters Kluwer. Here’s a scenario that […]
Genesis Investment Management extends partnership with Simcorp
UK-based Genesis Investment Management, a long-standing customer of Simcorp, has implemented the vendor’s client communication and reporting solution, Coric. The system has been deployed on an outsourced basis, hosted on the Microsoft Azure cloud. According to Simcorp, the project was completed in four months. As the result, the client reporting efficiency has improved by more than […]
Making sense of data poses challenge for trading firms
Despite efforts to create a more transparent OTC derivatives market, market data costs have increased significantly since 2008 and the buy-side has very little to show for it, according to senior financial executives speaking at an event organised by FIX Protocol in London on 6 March.
Sapient Global Markets rolls out close of business reporting service
Sapient Global Markets has launched a close of business reporting service that it says will help capital and commodity markets trading firms to meet regulation at lower cost.
OTC derivatives reforms must be global, says DTCC
As new rules for the reporting of OTC derivatives draw closer around the globe, US post-trade services utility the DTCC is positioning itself as the provider of a global network of trade repositories – but OTC derivatives reform will only work if consistent measures are taken everywhere, says Stewart Macbeth, president and chief executive at the DTCC.
