Industry Advocates Insights

Following Wirecard’s failures, market participants have raised flags around the Financial Conduct Authority’s (FCA) regulations on firms safeguarding client funds and managing prudential risk. Luc Gueriane, chief commercial officer at Moorwand and former head of business development at Wirecard, explained via email that safeguarding... read more

During his years as Chairman of the Federal Reserve, Alan Greenspan became the icon of a communication style that later took the name of "Greenspeak": he made wordy and ambiguous statements. "Since I’ve become a central banker," he said on one occasion, "I have learned to mumble with great incoherence. If I seem... read more

Insurers face new threats as impact of coronavirus challenges tech stacks and complicates customer contracts. While the shock of the pandemic is being felt across all industries, insurers are grappling not only with the need to revamp legacy technology, but the potential loss of trust from customers who rely on them for support as the lockdown... read more

Incumbent banks may struggle to adapt to the impact of coronavirus as remote working and customer services falter. Commentators say these challenges could leave digital challengers with the advantage. “Do the existing banks, the traditional banks, struggle to allow their staff to work remotely compared to challengers? You may find that the... read more

The past few years have borne witness to scandal after scandal, as Europe has struggled with a torrent of financial crime – specifically money laundering. Although it’s impossible to accurately estimate the true scale of the issue, research undertaken  by Europol suggests that laundered money could account for anywhere between 0.7... read more

Regulators are increasingly interested in industry progress and bank treasury readiness for the (L)ibor reform. In this  article, EY and SimCorp experts explain why it’s crucial that bank treasurers can demonstrate a tangible action plan for addressing the (L)ibor reform’s implications for specific functions. Is your... read more

Innovation in alternatives to cash must become a priority, according to John Glen, economic secretary to the UK government's treasury. “I completely embrace the opportunities that exist in other [payment] sources. I am not trying to hold onto cash, what I am trying to do is to say that the recognition that we feel in government,... read more

The UK must drive innovation to remain a key fintech hub as emerging markets scale rapidly, according to Peter Estlin, Lord Mayor of the City of London. “We’ve talked about the sheer strength of fintech here in the UK and it is a mark of quality and it’s regarded for that quality around the world. But if you look at scale,... 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