Insights

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ECB takes blame for Bird website infection

21st August 2019

Company: bobsguide
A malware infection which caused the shutdown of a European Central Bank (ECB) website should not be blamed on its third-party service provider, according to a spokesperson at the ECB, as the central bank is responsible for its upkeep. The central bank announced it had shut down its Banks’ Integrated Reporting Dictionary (Bird) website... read more
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Isda’s McGonagle: Flexibility key for new reporting agreement

20th August 2019

Company: bobsguide
Flexibility is key to the Master Reporting Agreement for the Securities Financing Transactions Regulation (SFTR) and European Market Infrastructure Regulation (Emir) says Ciaran McGonagle, assistant general counsel at the International Swaps and Derivatives Association (Isda). "We completely acknowledge that when you are trying to do any... read more
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Buyers' brief: Insurance advances

20th August 2019

Company: bobsguide
A recent report by PwC stated that “the urgent need for business and technology modernisation poses the greatest threat to the global insurance industry over the next two to three years”. Consultancy firms have a habit of drafting frightening summaries of the dangers that await insurers who fail to react to emerging market trends. And... read more
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LSE trading delay an internal problem

19th August 2019

Company: bobsguide
A “technical software issue” at the London Stock Exchange (LSE) which delayed FTSE 100 and FTSE 250 trading was not caused by a third-party vendor, confirmed a spokesperson by email. For Amir Nabi, chief operating officer at Dolfin some organisations may have been put out by the unexpected interruption to trading. “After the... read more
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Revolut targets business banking market

19th August 2019

Company: bobsguide
Following the launch of its expenses management tool last week James Gibson, senior product owner of Revolut confirms the bank is pivoting more to the business banking sector. “We see a lot of potential and opportunity for businesses in the UK and the rest of Europe. It’s of huge strategic importance to us,” he says. ... read more
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Chinese crypto “no surprise”

16th August 2019

Company: bobsguide
News that a Beijing-backed digital currency is in the offing comes as no shock to the market, according to Daniel Scott, CEO at CoinCorner. “China has historically had a volatile relationship with Bitcoin, over the years they have banned then unbanned then banned and so on. It's been on their radar for years, so creating their own... read more
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BCR awards grants to drive lending and payments services

15th August 2019

Company: bobsguide
The Board of Banking Competition Remedies (BCR) has announced results of the Capability and Innovation Fund (CIF) Pool C grant process, which will see Modulr Finance, Atom Bank, Iwoca and The Currency Cloud Group receive £10m grants to expand and offer improved SME lending and payment services. Each organisation undertook an... read more
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Black box problem stunting ML adoption in default risk analysis

14th August 2019

Company: bobsguide
Difficulties in explaining machine learning (ML) models is causing concern as banks look to the technology for default risk analysis, according to market participants.   “Many different types of ‘black-box’ models have been developed out there even by banks claiming that they can accurately predict mortgage defaults. This... read more
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CFPB support bolsters lenders’ alternative data developments

14th August 2019

Company: bobsguide
As the US Consumer Financial Protection Bureau (CFPB) turns its attention to applications of machine learning and alternative data within credit markets, small businesses are likely to feel the advantages of the technological developments, says Brock Blake, CEO of Lendio. “With the CFPB's regulatory support, more fintech innovators... read more