Middle and Back Office Solutions Insights

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ING’s CIO: Despair & disappointment part of innovation

19th February 2019

Company: bobsguide
Speaking on the sidelines of FinovateEurope, Benoit Legrand, the chief innovation officer of ING Group discussed the intricacies of innovation from psychology to the bank’s innovation budget. As new technologies kindle the start of global fintech, it is imperative that incumbent banks adapt their mindsets and invest heavily, without fear... read more
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Banks deliberate tech vendor cycle

18th February 2019

Company: bobsguide
“At what point should a bank move away from a traditional vendor? The answer is probably at the point at which the amount of change you want to put through the platform is being slowed down by the vendor’s change process,” says Michael James, head of technical architecture in financial services at Altus Consulting. “You... read more
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Non-financial counterparties unaware of looming SFTR reporting obligation

13th February 2019

Company: bobsguide
Some non-financial counterparties (NFCs) are unaware of impending reporting obligations under the Securities Financing Transactions Regulation (SFTR), according to market participants. “Financial firms really need to be reaching out to their non-financial counterparties to help educate them, get them comfortable with the regulatory... read more
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Emir Refit delay causes headache for small financial counterparties

12th February 2019

Company: bobsguide
Ambiguity around financial counterparty categorizations due to the delay in the implementation of the update to the European Market Infrastructure Regulation (Emir), remains of concern for small financial counterparties (FCs) that fear they won’t qualify to avoid clearing obligations, according to Roger Cogan, head of European public policy... read more
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Interconnection key in growing payments ecosystem

11th February 2019

Company: Equinix
Over the past few years, technological advances, regulatory changes and the introduction of a range of new market participants has driven efficiencies and opportunities across the payments world, but the fast-changing nature of the industry has created the need for systematic, forward planning. That’s according to Eleni Coldrey, business... read more
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5 steps to implementing AI for AML compliance

4th February 2019

By 2030, artificial intelligence (AI) will save the banking industry more than $1trn, according to analysts. Of that vast sum, it is expected that banks and credit unions will save $217bn—simply by applying AI to their compliance and authentication practices, and to other forms of data processing. I recently reviewed the first steps that... read more
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Challenger banks vulnerable to AML-savvy criminals

31st January 2019

Company: bobsguide
Digital-only challenger banks and new market entrants are vulnerable to savvy criminals looking to exploit weak anti-money laundering (AML) controls, according to John Davies, chairman on Kompli-Global and deputy chair of the Emerging Payments Association (EPA). Speaking at the launch of the EPA’s new whitepaper on financial crime, in... read more
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Report: Fintech hubs and governments vie for post-Brexit market share

30th January 2019

Company: bobsguide
In the first half of 2018 the UK received record levels of investment in the fintech sector – with over $16bn investment, according to KPMG. That’s $2bn more than the amounts raised in the Americas and China, individually, and six more than the rest of Europe. But while the UK has been active in its pursuit of fintechs, uncertainty... read more
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Burying the intercompany hatchet

28th January 2019

Company: BELLIN
Early on in my treasury consulting career, a new client approached me with what seemed to me a rather unusual request during their system implementation: “Could you please set up Deutsche Mark as one of our currencies?” I blinked. Deutsche Mark – the former German currency replaced by the euro in 2002? My confusion must have shown... read more