230 Results from 2015, /regulation
Keith Stanton International Product Manager (Fraud & Risk) at FIS
Financial institutions are required by law to know their customers (KYC), and refuse services to any party involved in financing terrorism or money laundering. Unfortunately regulations are open to interpretation, leaving banks struggling to define who is a high risk customer, as they attempt to please both the regulators and the public. Allowing ...
18 September 2015 /payments /regulation
Barry Kislingbury Lead Solutions Consultant at ACI Worldwide
Global real time interoperability is in our sights – immediate payments plus the industry consensus that ISO 20022 is the standard ‘de jour’ are paving the way towards a harmonised digital banking future. The first draft of the ‘rule book’ was launched earlier this year by the ISO 20022 Real-Time Payments Group, outlining the correct flows and lan...
18 September 2015 /payments /regulation Payments strategies 2015-2020-2030
Retired Member
Looking back at MiFID I, the Systematic Internaliser (SI) didn’t really take off, resulting in a meagre 1-2% market share in the FTSE 100 today. Many EU countries had different models to execute or internalise order flow, leaving the SI model on the shelf like a dented can of beans. Under MiFID II, Brussels will take a stricter approach by introdu...
18 September 2015 /regulation
Regulatory Challenges for Financial Institutions Banks are facing an increasing amount of regulatory challenges. Rules around know your customer (KYC) are particularly receiving increased attention, with financial institutions needing to ensure that they do know who they are conducting business with in order to stay compliant. Against this bac...
18 September 2015 /regulation /inclusion
Richard Chapman Head of Strategy at SunGard
Picture the scene: in a tailor’s shop in Hoi Ann, Vietnam, a reluctant shopper (me) has just been measured for a couple of bespoke suits. I’ve chosen the fabric, decided on the cut and I’m just about to pay for the privilege. Then the tailor throws a curveball. Had I thought, he asks, about shirts to go with my purchases? Despite fierce air condit...
17 September 2015 /regulation Financial Risk Management
Increasing globalization has significantly changed the corporate tax function, with constantly shifting regulations and stakeholder demands. In a recent report, “Reshaping the Tax Function of the Future,” PricewaterhouseCoopers (PwC) details several critical factors that will drastically impact the way companies do business worldwide – trends we’v...
16 September 2015 /regulation Electronic invoicing
Official statistics released by the BBA in June reveal that demand for personal loans has increased over the last two consecutive years.[1] On the surface, the news that UK consumers are borrowing suggests increased confidence in the economy. At the same time, however, average household debt remains worryingly high at £55,083[2]. A recent study f...
16 September 2015 /payments /regulation
Spent a great few days in Madrid last week at the International Trader Forum. The event brings together key figures from the buy and sell-side to debate the current and future likely shape of the industry. One of the key predictions this time was the rise of a new type of sales trader. One that that could do all the relationship stuff of before, ...
15 September 2015 /regulation
Said Tabet Senior Technology Strategist, CTO Office at Dell EMC
The past few years have seen a wide shift across all kinds of organisations towards harnessing digital technologies. Gartner calls this ‘The Digital Industrial Economy’, where every business wants to become a digital leader and every company a technology company. Whilst this is happening across many industries, the Financial Services (FS) sector i...
14 September 2015 /security /regulation
KYC processes aren’t a competitive differentiator but they are critical processes. However firms are rapidly coming to the conclusion that KYC processes aren’t best done bilaterally. This shift is liberating for organisations seeking a better way. There are a multitude of challenges to streamlining KYC. Firstly, firms have traditionally allocated m...
14 September 2015 /regulation /sibos
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