Data Solutions Insights

It will take a couple of years for BNY Mellon to cleanse its data so it can be used across the company, according to the bank's global head of digital partnerships, Lucien Foster. “We are creating a data lake for ourselves and that is really the foundation of what the digital group is looking at and hydrating that lake,”... read more

Barclays has run into problems when project managing end-to-end system upgrades, according to Martin King, head of process transformation for risk, finance and technology at the UK bank. "Where we have had our fingers burned in the past is where we have tried to interface things like bots with many, many strategic systems across an... read more

Fund managers may be required to provide data under the EU’s Securities Financing Transaction Regulation (SFTR) ahead of their reporting deadline, according to Catherine Talks, product manager, UnaVista. Under the rules, firms must be able to report counterparties' details. Credit institutions, investment firms and relevant third... read more

RBS appoints a new CEO Royal Bank of Scotland has announced the appointment of Alison Rose as new chief executive officer. Rose will succeed CEO Ross McEwan who will step down on November 1 to take up the role of chief executive at the National Australia Bank. She has served the bank for over 27 years. RBS Chairman Howard... read more

Detection of fraudulent activity in the payments world is the perfect place for artificial intelligence to blossom, according to Riteesh Singh, senior vice president at Finastra and Joël Winteregg, CEO and co-founder of NetGuardians. The pair were speaking on the side lines of Sibos in central London this week, after announcing a... read more

Firms must go back to basics and simplify transaction monitoring and know your customer (KYC) processes, according to Katie Jackson, a partner at Deloitte. “Firms are conducting a huge amount of transaction monitoring, they might be running generic rule sets not tailored [ones]… they are running retail rules over a commercial or an... read more

A large portion of financial crime is going undetected due to data problems causing high levels of false positive rates in financial institutions’ fraud detection systems, according to Stuart Breslow, managing director of technology and policy at Google. “The error rate was very gently put as significant,” said Berslow on a... read more

“For the long-term, for the financial centre for China? We view Shanghai as the financial centre for China,” said David Schwimmer, chief executive officer of the London Stock Exchange (LSE), at the Sibos conference in London this week. On September 13, the LSE sent a letter to the Hong Kong Exchanges and Clearing Limited... read more

Alternative data is becoming increasingly essential for central banks in their examination of markets movements, according to Andreas Schrimpf, chief economist at the Bank of International Settlement (BIS). “A lot of the central banks typically face the issue of monitoring market functioning for example and in quasi real-time as well... read more