Infrastructure Insights

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4 ways to ensure Open Banking doesn't become the next Cambridge Analytica

18th October 2018

Company: bobsguide
The Open Banking Initiative, brought in by PSD2 on January 13, heralded the start of a new dawn. A key proponent of European Banking Authority (EBA), Financial Conduct Authority (FCA) and Competitions & Market Authority (CMA) policy, the permissioned release of customer data to third parties (TTP) from the incumbent custodians has already... read more
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Suburbia founder: Startup or corporate, you're doing data wrong

17th October 2018

Company: bobsguide
The world’s biggest banks and corporations still rely on archaic data sources which haven't improved in decades, according to Hamza Khan, founder of alternative data provider Suburbia. "Data is expensive, it's slow, it's often out of date before it's even released.  We think we can do better with alternative... read more
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Open Banking fuels rise of BaaS

17th October 2018

Company: ONPEX
The financial services industry is well used to the as-a-service suffix. A service offered to incumbents by a variety of specialist third parties as well as the preferred model of operating for agile challengers, banking-as-a-service (BaaS) has grown in popularity -and looks set to solve some age-old pain points. And the BaaS revolution may... read more
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59% of asset managers preparing for no-deal Brexit

16th October 2018

Company: bobsguide
While Theresa May told the UK's House of Commons on Monday that a Brexit deal was “still achievable” with five months remaining until the UK leaves the EU, 59% of investment firms are working towards a no deal Brexit, rather than wait for any potential political resolution. For financial services the priority concern is... read more
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The back office revolution

15th October 2018

Company: AutoRek
Wherever you look and in whatever industry sector you might be in, some back office functions still appear to be operating in the dark ages. That's a stark opening line, but the reality is that many organisations are still reliant on manual processes and spreadsheets to fulfil their financial and regulatory obligations. In contrast, we do... read more
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Open Banking concerns arise for payments providers

10th October 2018

Company: bobsguide
Rachna Ahlawat, EVP and co-founder of Ondot Systems, expressed concerns about how Open Banking could take the one click payment process to something more cumbersome for consumers at this week’s PayExpo conference, in central London. “With the Open Banking initiative and having to validate every transaction that comes, the one time... read more
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Evolution at the coalface: The future role of fraud operations

8th October 2018

The potential impact and role of Artificial Intelligence (AI) is undeniable. We increasingly see highly repetitive tasks moving from human manual labour, to machine-based automation. Fraud prevention is often labelled as one of the ‘quick wins’ for AI, and there is no dispute that the technology’s use is driving better detection. ... read more
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Challenger Monzo makes changes in “hostile banking market”

5th October 2018

Company: bobsguide
The challenger banks do not only have to stick to the old adage of hitting the ground running - they need to sprint. With incumbents increasingly pouring resources into innovation programmes, the challenger banks are in a race against time to offer their unique capabilities before others replicate them. The ’small 4’ retail banking... read more
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BofE & FCA call for urgent report of FI cyber risk

4th October 2018

Company: bobsguide
British banks, clearing houses, and payments systems have been asked by the UK’s Bank of England (BoE) and Financial Conduct Authority (FCA) to complete reports on their exposure to, and plans to manage, IT outages and cyberattacks by October 5. “We are seeing an unprecedented amount of change from financial institutions who need to... read more
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How to design a cash flow forecasting model

4th October 2018

Company: CashAnalytics
One of the first steps in setting up a new cash flow forecasting process is designing a forecasting model. If the forecasting model is well-designed from the outset it can drastically improve the quality of reporting outputs, thereby helping to achieve overall business objectives. However, it must be noted that there is not a universal solution.... read more