RegTech Insight Blogs The latest content from across the platform
How to Optimize Suitability Solutions Amid Increasing Regulatory Confusion
Suitability is a hot topic – and an increasingly tricky one. The FCA suitability requirement (COBS 9), an obligation for all wealth managers in the UK, is relatively new in both the UK and wider Europe, and the existence of MiFID II has only served to further confuse the situation. As regulatory bodies around the…
Automated Software is Replacing Human Decisions, Finds ESMA
A combination of supply-based developments and demand-based needs are potentially transforming the way financial institutions comply with regulation and supervisory authorities oversee market participants, warned the European Securities and Markets Authority (ESMA) in a new report released on March 14, 2019. The regulator recently carried out an analysis of the regulatory and supervisory technologies currently…
Insightful Technology Launches New Feature-Rich Version of Compliance & Surveillance Platform, Soteria
London-based Insightful Technology, a multimedia-focused FinTech provider, has embarked upon a major development and launch of its flagship compliant communications capture and intelligence solution, Soteria. A progression from the original technology that launched in 2011 as the world’s first Mobile Network Operator voice and SMS recording solution via Truphone, the subsequently developed Software-as-a-Service (SaaS) platform…
SmartSearch Works Towards Client Integration
UK-based AML platform SmartSearch, which claims to be the only organisation in the UK with the ability to verify individuals and companies on a single platform via a browser or AP with full Sanction, PEP and adverse media screening, is working towards an integration-based model rather than use as a standalone system – and today…
Encompass Corporation and IHS Markit Partner to Chop KYC Time by a Third
IHS Markit has integrated a new KYC automation solution from London-based encompass corporation into its KYC Services offering, in a bid to reduce manual processes and drive efficiency. Using encompass, IHS Markit has fully automated the collection of critical KYC data from the public domain, including global corporate registries, regulatory listings and exchanges. As the regulatory…
GoldenSource Releases New Datasets to Help Banks with Brexit Reporting Changes
Software and services provider GoldenSource last week announced the release of a series of new Brexit-specific datasets via its enterprise data management solution, to help banks prepare for differing regulatory demands in the wake of the UK’s expected departure from the EU on the 29th March 2019. The firm implemented the move in response to…
Data Breaches Up 480% in 2018, but is GDPR Compliance the Answer?
The number of data breaches reported by UK financial services firms to the Financial Conduct Authority (FCA) increased by 480% in 2018, up to 145 up from just 25 in 2017. Is this solely down to the new GDPR regime, or are there a wider problems at play – and how can firms leverage new…
Senior Managers & Certification Regime: Six Major Challenges for Financial Firms
The FCA’s Senior Managers and Certification Regime (SM&CR) is topping the list of regulatory challenges for financial institutions in 2019, with the December 9 deadline throwing up new challenges and concerns around the way firms must handle their duties, process their data and implement internal procedures. Martin Lovick, Senior Principal Consultant at governance, risk and…
KRM22 Launches Enterprise Risk Cockpit
KRM22, a technology and software investment firm with a focus on risk management in capital markets, today announced the launch of the Enterprise Risk Cockpit, a real-time enterprise risk management application for capital markets firms. The Enterprise Risk Cockpit is designed to improve data accuracy and steer clients away from cumbersome spreadsheets towards a more…
Gresham Partners with RegTek Solutions for Strategic Transaction Reporting
Data integrity and control software provider Gresham Technologies has joined forces with regulatory reporting specialist RegTek Solutions in a strategic relationship linking RegTek’s Reconcile.Trade solution with Gresham’s Clareti Platform to offer increased transparency and control over transaction reporting requirements. The Reconcile.Trade platform allows clients to reconcile front-office trading records against data samples provided by competent…