Retail Banking Systems Insights

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The demise of Libor: what next?

14th February 2019

Company: Calypso
Quoted daily for each of the main currencies across multiple tenors (1m, 3m, 6m, 12m), Libor represents the rate for which one bank would lend money to another for a set term. It is calculated as the arithmetic average of the submitted rates for each tenor and currency from a panel of banks, with the top and bottom quartile submissions discarded... read more
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Libor Sonia transition “doesn’t need to be painful”

11th February 2019

Although firms have become wary of risks and significant costs as they begin to prepare for the transition from the London Interbank Offered Rate (Libor) to the Sterling Overnight Interbank Average Rate (Sonia) as the benchmark interest rate, the process of moving to the new rate doesn’t have to be as strenuous as many believe. That’s... 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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Tech giant Adobe brings cost-cutting ID verification to KYC

8th February 2019

Company: bobsguide
Adobe, the stock content platform, is straying more and more outside of its traditional heartlands to offer digital KYC solutions in an attempt to reduce the cost of compliance for its financial services customers. “Our customers tell us they can achieve huge time and cost savings, reduce error rate and calls to contact centres and deliver... read more
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Banks and vendors delay Windows 10 migration despite security fears

5th February 2019

Company: bobsguide
The ATM industry is experiencing a “general delay” in its attempts to upgrade from Windows 7 to Windows 10, despite the deadline being only a year away. “Unfortunately, the ATM industry [is moving] to Windows 10 with a large delay, as hardware vendors only made the Windows 10 XFS drivers available in 2017,” says Carmine... 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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Banks must decompose legacy “ball of mud” to grab cloud opportunity

30th January 2019

Company: bobsguide
Banks need to unbundle legacy IT infrastructure if they’re to take advantage of the benefits the cloud and APIs can bring, according to Danny Healy, financial technology specialist at MuleSoft. “Banks will typically layer new technology on top of what they’ve already built. This is why we refer to this bundle as a ‘ball... 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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User-controlled privacy through self-sovereign identity

30th January 2019

Company: Signicat
More and more, we conduct business online and through one or several digital identities, ranging from credentials issued from a single organization to a reusable, verified electronic identity. In a research report we conducted 72% of consumers interviewed wanted a digital-only onboarding process for new financial services. Coinciding with this... read more
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Report: Cloud-based core banking vendors look to smash legacy oligopoly

29th January 2019

Company: bobsguide
A breed of emergent vendors is aiming to break apart the oligarchy ruling the core banking space and disrupt a market which has been experiencing consolidation for a decade. Those in the market suggest that cloud-based platforms could see the pureplay core system business model “come to an end”. In 2014, Gartner listed 19 core... read more