RegTech Insight Blogs The latest content from across the platform
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…
Key Factors for Successful Implementation of Automation in KYC
By Nick Ford, Head of Alliances at encompass, and Matt Neill, Managing Director at Optechs. Since the financial crisis more than a decade ago, there has been a huge focus on Know Your Customer (KYC) and Anti-Money Laundering (AML) from global regulators, resulting in a stream of regulation as well as more than $23 billion…
Artesian Solutions Launches New Risk and Compliance Hub
Artesian Solutions, a UK-based client intelligence tool for financial services companies, has announced the general availability (GA) of its new Artesian Risk and Compliance Hub (ARCH), following two years of development. ARCH is designed to enable relationship managers, underwriters and frontline teams within banks, insurance companies, and other financially regulated industries to assess and understand…
UnaVista Takes on 25 New SFTR Partners
UnaVista, part of the London Stock Exchange Group, in June welcomed 25 new software vendors to its SFTR partner programme: including Calypso Technology, Equilend, IHS Markit, Trax, the post-trade services arm of MarketAxess, Broadridge and Murex S.A.S. The new partners will connect directly into UnaVista’s SFTR platform, allowing their clients to report all their required…