Insights

Since the global financial crisis, regulators have given increased attention to the responsibilities of fund management companies* in overseeing their delegated functions. The US Investment Company Act of 1940, and AIFMD and UCITS in Europe, are clear that – while the valuation function may be outsourced – the overall responsibility for... read more

Trying to collate everything manually, when detail exists in different formats across numerous data silos, is no longer sustainable. In any case, many firms lack the budgets to keep investing in new IT projects each time demands change or a new standard is issued. There must be a more sustainable way forward. Indeed, the research suggested that... read more

In an era of digital transformation - not to mention a lot of economic and regulatory change - things are moving quickly. For many financial services organizations this means unprecedented pressure to  innovate to remain relevant and competitive. And the results are starting to show: in early 2019, Spanish multinational BBVA confirmed it... read more

While a stern warning issued by the UK's Financial Conduct Authority (FCA) to the insurance sector affects a small slice of the industry, the regulator is displaying a welcome willingness to use innovation to drive change, according to market participants. “[The FCA] is being very proactive and working with the industry to ensure... read more

Bank resolution frameworks are so focused on past lessons they are failing to prepare for potential future events, according to the acting head of department of financial stability and consumer protection at the Swedish National debt office. “To compare it to the military, there is always a risk that you are planning for the last war... read more

Fintech vendors believe there are still obstacles in place as banks “drag their feet” – and potentially put hurdles in place - to comply with Strong Customer Authentication (SCA), due to come into force on September 14. “Some [financial] institutions dislike people like ourselves who can access the other account types so... read more

European Commission guidelines on the implementation of artificial intelligence (AI) and machine learning (ML) has given developers a green light and quashed industry hesitancy to experiment with new AI solutions, though care must be taken to limit the data needed to train them, say vendors. “For regulatory compliance in financial crime,... read more

Banks are increasingly turning to machine learning to innovate heavily manual and costly middle and back office mission critical compliance management processes, say market participants. “Banks are already in a period of change, mostly in the more business- driven activities in the front office but it’s time to appreciate the value... read more

Societe Generale’s (SocGen) closure of its commodities business is confirmation of a downward trend between large banks and the commodities market, say industry analysts and market participants.   “The share prices told you that SocGen were one of the worst performers over the past couple of years – earnings and profits... read more