Latest Cloud News: Finextra Research

The old rules no longer apply: Risk management and regulatory reporting in the cloud

Deploying new applications on the cloud is now the default. The question is not if applications should be built in the cloud or existing workloads should be migrated, but how fast can financial institutions (FIs) remove traditional IT constraints in the age of digitalisation.

12 July 2019

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How to build the regulator’s confidence in the cloud

When moving to the cloud, meeting all risk, legal and compliance requirements is non-negotiable. The key question regulators are asking financial services providers is whether they have identified the operational risks associated with migrating to cloud computing, and if banks understand the process of managing these obstacles.

12 July 2019

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Maintaining data integrity in the cloud amid regulatory change

The cloud is beckoning, and security is job number one. Regulatory reporting has shifted from accounting values to full-fledged risk management, encompassing credit, liquidity and market risk as financial institutions (FIs) increase in size, have larger geographic footprints and continue to offer complex products.

12 July 2019

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Compliance in the cloud for a demanding regulatory environment

The cloud has fundamentally altered the economics and time to value of risk management and regulatory reporting. By allowing banks to handle the real-time, daily and periodic nature of regulatory reporting in an elastic manner, cloud computing has also provided cost-effective, long-term (and immutable) data storage to respond to queries from regulators.

12 July 2019

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RBC buys accounts payable specialist WayPay

Royal Bank of Canada (RBC) has acquired WayPay, a local startup that provides businesses with cloud-based accounts payable automation technology. Financial terms were not disclosed.

09 July 2019

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Deutsche Bank to spend €13bn on tech amid massive job cuts

Deutsche Bank has announced swingeing job cuts as part of a radical overhaul of its operations that will also see it spend €13bn on new technology over the next four years.

08 July 2019

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Carney positive on Facebook's Libra; says BofE could open up balance sheet to new players

Facebook's new digital currency, Libra, could "substantially improve financial inclusion and dramatically lower the costs of domestic and cross border payments," Bank of England governor Mark Carney has said in a speech during which he also revealed the central bank could open up access to its balance sheet to new payment providers.

21 June 2019

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Banks falling behind in digital transformation efforts

Despite investing more than $1trn globally in new technology over the last three years, the majority of banks have yet to see any financial boost from their digital transformation programmes.

20 June 2019

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India to review payments data storage rule

The Indian central bank has been persuaded to reconsider a controversial law that mandates payments data should not be allowed to leave India's borders.

18 June 2019

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Credit Agricole sets €15bn tech budget through 2022

French bank Credit Agricole (CA) is set to spend €15 billion on new technology over the next four years as part of its digital transformation.

06 June 2019

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Emirates NBD taps AWS for AI-enabled bank

Emirates NBD is using Amazon Web Services (AWS) machine learning and data analytics technology to help build a "bank of the future".

30 May 2019

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HSBC opens London and Toronto data and innovation labs

HSBC has opened two data and innovation labs - in London and Toronto - that will house specialists in areas such as analytics and robotics working on products and services for the bank's global banking and markets (GBM) unit.

23 May 2019

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