RegTech Insight Blogs The latest content from across the platform
Building a Powerhouse: How Ireland Became a Regtech Center of Excellence
By David Rochford, Head of Hedge Funds at MUFG Investor Services. Over the past decade, spurred by the financial crisis and ensuing regulatory regimes, Ireland has become a regtech powerhouse. The size of the regtech market is expected to grow to $12.3 billion by 2023, up from USD 4.3 billion in 2018, and Ireland is…
Xceptor Names ex-GBST Exec Tom Edwards as Chief Operating Officer
Xceptor, a global data ingestion, automation and transformation software provider, has appointed Tom Edwards as chief operating officer with responsibility to support the company’s growth strategy. Most recently, Edwards was head of delivery at wealth management and capital markets technology provider GBST. Edwards has over 30 years’ experience in project implementation and professional services delivery…
AI AML Software Trend Continues with Deutsche Bank’s Adoption of Finantix
At the beginning of July, Finantix announced that Deutsche Bank Wealth Management selected its AI-powered Finantix KYC Solution to help enhance the bank’s client onboarding and know-your-client (KYC) processes. The solution is already up and running in Germany, Deutsche Bank’s largest wealth management centre and the bank is now set to roll it out across…
UK Regulators Eye Up Digital Regulatory Reporting
UK regulators are stepping up their efforts to digitise regulatory reporting over the next few years. The changes the Bank of England (BoE) and the Financial Conduct Authority (FCA) propose – and which are being developed jointly with the industry – promise a transformation in the way data flows between supervisors and financial services firms….
The Model Muddle
By Richard Moss, Product Manager, AxiomSL. Many financial institutions (FIs) find themselves wondering how they became mired in a credit model muddle that is dragging down their profitability. They want to know how they can get out of this swamp. Traditionally, FIs heavily relied on economic capital models to support business decision-making. Then, with the…
Stepping Stones to the EU FTT
By Anne Plested, EU Regulation Change at ION Markets, Fidessa. A Europe-wide financial transaction tax (FTT) was initially proposed by the European Commission (EC) in September 2011. The aim was to avoid an uncoordinated patchwork of national taxes and take a standard approach across Europe. In the aftermath of the financial crisis, this type of…
Oracle Leverages Cloud Technology to Offer AML Services to Smaller Banks
Oracle in June announced the roll-out of its Oracle Financial Services Anti Money Laundering (AML) Express Edition to small- and mid-sized banks: allowing smaller players to cost-effectively address evolving global AML regulations and guidelines, despite their smaller IT budgets and limited resources compared to global top-tier institutions. AML Express provides unified platform to efficiently detect,…
BIS Supports Fintech Innovation for Central Banks
The Bank for International Settlements (BIS) has confirmed plans for a new Innovation Hub to encourage international collaboration on financial technology within the central banking community. Launching initially at existing BIS facilities in Hong Kong and Basel, the hub will eventually span multiple locations with a third spoke due in Singapore within the first phase…
EBA Publishes FRTB Roadmap, Launches Consultation
Prior to the implementation of the Fundamental Review of the Trading Book (FRTB), now scheduled for January 2022, the European Banking Authority (EBA) on June 27 issued a new roadmap for market and counterparty credit risk approaches, providing a comprehensive overview of deliverables in the area of market and counterparty credit risk and outlines the…
FCA Urges Greater Cyber Resilience
The number of cyber incidents financial services firms reported to the Financial Conduct Authority (FCA) soared in 2018, and the watchdog is now calling on regulated firms to develop greater cyber resilience to prevent attacks and operational resilience to recover from them. According to data recently acquired by accountancy firm RSM under the Freedom of…