Insights

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Payments at a price: the true cost of in-house bank connectivity

12th November 2018

Company: Kyriba
Making payments is generally an expensive process for large organizations, in terms of both time and money. The process tends to be particularly expensive when an organization has its own in-house bank connectivity for connecting its payment systems to its bank – connectivity that is maintained either by its own internal IT function or by an... read more
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CASS – audit of IT systems

12th November 2018

Company: AutoRek
It is fascinating that 10 years on from the collapse of Lehman Brothers, the Client Assets sourcebook (CASS) is still high on the regulatory agenda. The Financial Conduct Authority (FCA) has repeatedly scrutinised CASS and enhanced standards, starting with the issuance of ‘PS14/9: Review of the client assets regime for investment... read more
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Can blockchain revolutionise accountancy?

9th November 2018

Company: bobsguide
Many industries have begun experimenting with blockchain—independent of Bitcoin.  In fact, the World Intellectual Property Organization handed out 406 blockchain patents in the last year alone. And while the fate of cryptocurrency is uncertain, the tech underlying it seems to have some interesting applications (along with some... read more
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Canada’s Tangerine utilises customer data to disrupt status quo

8th November 2018

Company: bobsguide
As the impact of GDPR continues to ruffle feathers with the European data protection supervisor, Giovanni Buttarelli, told Reuters to expect fines “by the end of the year.” While GDPR has profound consequences in Europe, its tremors are also provoking debate across the Atlantic. Justin Trudeau and StatCan were thrust into the data... read more
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Monzo API engineer backs Open Banking strategy

8th November 2018

Company: bobsguide
“People are going full Monzo,” said the bank’s founding API engineer, Simon Vans-Colina on the sidelines of Fin42, reacting to the statement that Monzo lacked the edge to become a primary account. “There’s a handy button in the Monzo app that lets you close your old account and bring everything over.” But... read more
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Bloomberg’s Tonin outlines blockchain’s three critical applications

8th November 2018

Company: bobsguide
There is a small handful of primary use cases for blockchain technology, according to Francesco Tonin, FX market specialist, Bloomberg speaking at an industry event in Chicago. “International payments work,” he said, “but it takes a long time, you might need to use a correspondent bank, you might not know where any given... read more
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CUBE: FI culture obstructing regtech

8th November 2018

Company: bobsguide
The single biggest challenge for regtech adoption is reluctance to change culture, says Ben Richmond, founder and CEO of CUBE, the compliance firm. “It comes down to the fundamentals of sponsorship, and senior level leadership to drive transformation programs to look at the 15-20% of operating cost that is currently still on the rise... read more
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Retail and investment banks leveraging technology to stay ahead

7th November 2018

Company: bobsguide
Technology, competition, and regulation have put pressure on banks to evolve from lumbering giants to nimble financial ninjas. The transformation of investment and retail banks from their bloated pre-financial crisis operations has been fraught with stringent regulation of their activities and challenges from newcomers. In particular, fintechs and... read more
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SWIFT eyes bigger role with API standardisation, says head of standards

7th November 2018

Company: bobsguide
“APIs are new from a technological standpoint, but also what SWIFT has played for since inception,” said the company's head of standards, Stephen Lindsay, on the sidelines at Sibos 2018 in Sydney last week. Application programming interfaces (APIs) are currently being rolled out across financial services to allow... read more
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HSBC moves to clean up data breach

6th November 2018

Company: bobsguide
Today HSBC customers in the US were notified of a breach of data that occurred last month. The cyber attack is supposed to have affected less than 1% of their US accounts, with evidence of an unauthorised log-on leaving some personal information accessible. According to an Accenture report published in 2016, 59% of banks admit it takes... read more