Middle and Back Office Solutions Insights

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

New research released this week has revealed that banking applications developed in-house are more vulnerable than those produced by third-party vendors. Some 81% of banks across the world are embarking on technology transformation programmes in order to keep costs low and bring out application functionality at the pace dictated by consumer... read more

A number of large conglomerates with exposures in European commodity derivatives are still relying on manual processes such as Excel to collate data and comply with the second Markets in Financial Instruments Directive (Mifid II), according to lawyers. “Some of our clients have had to do it manually, so they’ve had to allocate people... read more

Banks must act quickly to cannibalise their core banking systems or risk losing market share to newbuild challengers. “Incumbents cannot be innovating in the future,” said CEO of digital bank Pepper, Michal Kissos Herzog. “You actually need to take the decision to cut off the legs to preserve the body. The ones who are willing... read more

For digital transformation to be a success, collaboration is crucial. While technology enables new ways of working, collaboration is the key catalyst to moving the dial on digital transformation programme success. Digital-first, customer-centric financial institutions that have achieved harmony between digital transformation and collaboration share... read more

Should the UK’s banks reconsider pricing mechanisms as they leave the Single Euro Payments Area (SEPA), Société Générale may follow suit according to the French bank’s deputy head of global transaction banking and payment services, Benoit Desserre. “The UK by leaving the SEPA area will gain full... read more

Competition and innovation has been an enormous force for good in driving the speed of change in the payment ecosystem to meet ever increasing customer expectations for excellent payments experiences. Now, with disruption of the payments landscape continuing apace, nimble, creative fintechs are challenging the ground held by established payment... read more

Metro bank’s full year results were hotly anticipated by investors and the industry alike following early scares brought on by an accounting error. The results, published on February 26, came nearly a month after the challenger’s share price plummeted by as much as 40%. The results confirmed reports of a miscategorisation of the... read more

Microbusinesses and SMEs are looking at fintechs and new market entrants to provide their financial services as their existing banks have “never really treated them as business customers,” says Mastercard group head of acceptance and emerging payments, Scott Abrahams, but ground can be made up by major banks in the form of collaboration... read more