Opinion: What Every Global Bank Should Know About Emerging KYC Solutions
Banks must navigate the maze of regulations or face costly fines. Lee Forsyth, Global Lead KYC Consultant at Thomson Reuters, explains there’s a way through with new solutions. No doubt you have noticed our industry is swimming in acronyms: AML, FATCA, UBO, FATF, KYC. This jumbled alphabet mash-up is the perfect symbol of the complex...
Opinion: Chief Data Officers – The Case for the Defence
A large number of financial institutions (FIs) have appointed chief data officers (CDOs) over the past couple of years. I know a few of them and while they come from a wide variety of backgrounds—some technical, some business, some ‘data geek’—they share a common belief that an organization’s data is one of its most important...
Data Management Summit: Finding Solutions to the Data Management Problems of Client Onboarding and KYC
Increasing enforcement of Know Your Client (KYC) regulations and large fines for non-compliance are driving banks to review client onboarding processes and make changes that will not only help them meet regulatory requirements, but also improve the client experience, increase efficiency and reduce time to revenue. The data management challenges of client onboarding and KYC,...
CGS and Ipreo Extend Partnership to Streamline Identifier Issuance for new Securities in Equity and Fixed Income Markets
Cusip Global Services (CGS) and Ipreo are building out an existing relationship in the US municipal market to allow users of Ipreo’s security issuance software in global equity and fixed income markets to automatically submit requests for Cusip and ISIN identifiers through the company’s global cross-asset class book building system. Once created, the identifiers are...
Data Management Summit: Techniques and Technologies to Improve Data Quality
Data quality has become an imperative of data management, and while it is often difficult to achieve, improvements can be made to meet both business and regulatory requirements by implementing data governance policies as well as big data and artificial intelligence technologies. Andrew Delaney, chief content officer at A-Team Group, led discussion on data quality...
Data Management Summit: The Challenges and Opportunities of Managed Services and Shared Utilities
Managed services and shared utilities designed for data management have the potential to cut banks’ costs, improve time to market and ease the burden of regulatory compliance, yet despite increasing maturity, these types of solutions face barriers to adoption including banks’ reluctance to change, concerns about relationships with data vendors and a lack of trust...
Julius Baer Extends its Use of AxiomSL’s Regulatory Reporting Platform
Swiss private banking group Julius Baer has extended its use of AxiomSL’s regulatory reporting platform to automate its group level and Swiss entity Basel III calculations and reporting, as well as its group level and Swiss entity statistical reporting. The banking group is already using the AxiomSL platform for financial reporting in Hong Kong and...
Data Management Summit Workshop: EDMworks Maps a Route to Successful Data Governance
Data governance is essential to managing not only regulatory requirements, but also client lifecycles, product innovation and cost and risk reduction programmes. While this is increasingly the case, developing data governance policies and processes that deliver tangible outcomes can be difficult. Dennis Slattery, CEO of EDMworks, set out the requirements for successful data governance –...
Data Management Summit: The Case for Cloud Computing
Cloud computing is evolving and becoming a realistic option for reference data management on a large scale, despite ongoing concerns about data security and control. The potential of reference data management in the cloud was discussed at last week’s A-Team Group Data Management Summit in London during a panel session led by A-Team chief content...
Lombard Risk REPORTER Enables Firms to Meet European and Local Liquidity Coverage Reporting Requirements
Lombard Risk Management, a leading provider of integrated regulatory reporting, collateral management and compliance solutions for the financial services industry, is pleased to announce that REPORTER is actively in use by firms for the creation and submission of regulatory liquidity reporting in line with both the European Banking Authority’s pan-European and local UK regulatory Prudential...