This week, Barclays, RBS, JPMorgan, Bank of America, UBS and Citigroup were fined $5.7bn (£3.6bn) by authorities in the US and UK for rigging foreign exchange markets.
The amount imposed on the six banks was the biggest-ever combined bank settlement in history, and along with the separate fines and settlements also announced on the day,... read more
Whilst regulators appear to recognise the value algorithmic trading presents, significant concerns have also been raised regarding the safety of algorithmic practices and the market risks a poorly coded or deployed algorithm could present. This has led to many pages being penned on the subject in recent regulatory texts.
Politicians and... read more
Last year, an Oracle report, which surveyed over 100 executives at major retail banks, revealed the importance of investing in digital strategies.
94 per cent of respondents surveyed in the Banking is changing…without or without the banks report, said that having a digital omni-channel presence is important for customer retention,... read more
With less than a year to go before the January 2016 deadline, the Basel Committee on Banking Supervision’s latest report reveals that banks are still struggling to comply with the Principles of the BCBS239 regulation.
The report published in January 2015 represents the capabilities and progress of the 31 G-SIBs (global systemically... read more
Samsung has told their Wallet users that the service will be shutting down on 30 June to make room for Samsung Pay, the payment service that we first heard about back in March which will rival Apple Pay.
"On June 30 2015, Samsung Wallet will be discontinued except in Korea, as part of our long-term business strategy with Samsung Pay.... read more
Deutsche Bank is reviewing whether to move parts of its British operations to Germany if the UK decides to leave the EU.
The Financial Times (FT) reports that Deutsche Bank, which is the biggest German lender by assets and employs 9,000 people in the UK, is the first bank to start examining the effects of a British referendum on EU membership.
... read more
The digital revolution has changed our lives in more ways than one. Social networks have transformed the way we communicate with each other. Online media consumption has meant we’re more informed than ever. The increase in bandwidth has meant we can consume music and video content faster than ever. But the real change for all of us has been... read more
Adeo Ressi, founder of global start-up incubator Founder Institute, has told FairFax Media that Australia’s low-risk appetite is causing start-ups to receive unfair terms from accelerator programs and venture capital firms, the Sydney Morning Herald (SNH) reports.
Ressi, who is one of Silicon Valley’s prominent investors in... read more
Since 2008 the need to mitigate systemic risk across the globally interconnected Financial Services ecosystem has elevated data management expectations. The increased political scrutiny of financial institutions has increased pressure on organisations to ensure the highest quality of data on which to base their risk and capital adequacy... read more