Banks’ top brass need persuading over T2/T2S opportunities

24th May 2019

Company: bobsguide
Banks’ middle management and specialists must do more to convince the executive of the opportunities and cost saving benefits posed by T2/T2S (TARGET2 & TARGET2 Securities) Consolidation. Affecting some 1,700 EEA bank accounts, the T2/T2S Consolidation project - which is due to go live in November 2021 - is a great burden for European... read more

GDPR one year on: Mistakes still being made

23rd May 2019

Company: bobsguide
A year since the introduction of the EU’s General Data Protection Regulation (GDPR), errors continue to be made, and three countries have yet to implement the regulation into national law. On May 22, figures published by the European Commission revealed that since 2018, 89,271 complaints have been lodged to data protection authorities... read more

Legacy systems and data concerns slowing banks' commercial cloud adoption

22nd May 2019

Company: bobsguide
Major banks are increasingly interested in commercial cloud platforms, but networks of interconnected legacy systems and concerns over data security will continue to see a layered hybrid approach, say market participants. “When we started engaging with customers, we imagined from the outside looking in that it would be a tough sell to get... read more

Report: Fintech gender diversity and the unshifting pay chasm

21st May 2019

Company: bobsguide
Over the past few years industries and governments have prioritized diversity and rectifying gender-related pay disparities, but a recent bobsguide survey suggests much is to be done within the fintech sector. The survey – carried out in March this year - revealed perceptions among participants of a gap in the ratio of males to females in... read more

LexisNexis Risk Solution's Elliot: Holistic data view the new norm for risk mitigation

20th May 2019

Company: bobsguide
Financial services firms are pulling together data from silos to create a holistic view of their clients, having been emboldened by new technological capabilities and regulatory nudging from rules like the general data protection regulation (GDPR), says Steve Elliot, managing director of LexisNexis Risk Solutions. “Traditionally, firms... read more

EC’s Pearson urges smaller firms to speed up initial margin tech preparations

20th May 2019

Company: bobsguide
While many in the industry are lobbying for a delay in initial margin requirements for non-cleared derivative trades, Patrick Pearson, head of the financial market infrastructure and derivatives unit at the European Commission says the regulation is inevitable and smaller firms must accelerate their adoption of technology. “The European... read more

6 best practice principles to client & counterparty data management

20th May 2019

Company: Fenergo
The role of client and counterparty risk management has assumed greater strategic importance over the last few years in light of heightened regulatory scrutiny and the introduction of new rules around AML/KYC, ultimate beneficial ownership, global data privacy and investor protection rules. With the growth of AI/RPA-enabled compliance processes,... read more

Mastercard SVP: Customer experience presents battleground for bigtech and banks

17th May 2019

Company: bobsguide
Banks and technology giants are locked in a battle to provide the best customer experience, though financial services firms often have the advantage of a better technological foundation. Speaking this week during a bobsguide webinar, Scott Abrahams, senior vice president of business development at Mastercard UK, said while technology giants are... read more

Finland’s banks target instant payments

17th May 2019

Company: bobsguide
The development of EBA Clearing’s RT1 platform has reached critical mass in Finland with the support of the country’s six major banks, says the payment service provider’s CEO Hays Littlejohn.  “It’s not as though we made any kind of particular effort just for Finland, it’s more that those banks chose to... read more