RegTech Insight Blogs The latest content from across the platform
Blockchain in the Fund management and Audit Industries: Could it Restore Trust?
By Nish Kotecha, Chairman and Co-founder of Finboot, and Bryan Foss, Independent Director and Visiting Professor at Bristol Business School. Not too long ago, Neil Woodford was still regularly heralded as a “superstar” manager and the “Oracle of Oxford”. How different the story is today. In mid-October, Neil Woodford announced that his Woodford Investment Management…
New ISIN/LEI Data Connection from GoldenSource
Enterprise data management specialist GoldenSource has today revealed a new data connection to support the Association of National Numbering Agencies (ANNA) and Global Legal Entity Identifier Foundation (GLEIF) initiative to link International Securities Identification Numbers (ISINs) and Legal Entity Identifiers (LEIs). The combined ANNA/GLEIF initiative was created to increase the transparency of trading exposure by…
Why Further Brexit Delay Creates Greater Reporting Uncertainty for Fund Managers
By Quinn Perrott, co-CEO of TRAction. There is a funny sense of déjà vu when it comes to the latest twist in the Brexit saga. The trouble is that whenever the can gets kicked down the road, market participants put Brexit to one side and allocate IT, process management and compliance resources elsewhere. Then, as…
Bank of England: Machine Learning set to Double in Financial Services
The Bank of England and the Financial Conduct Authority (FCA) have published a new report on ‘Machine Learning in UK Financial Services’ that predicts live machine learning (ML) applications will more than double within the next three years. The report is the result of a joint 2019 survey between the two regulators covering over 300…
Operational Inefficiencies Costing Banks $3.3trn: Fenergo
New research from client lifecycle management provider Fenergo reveals that slow and manual onboarding processes could lead to commercial and business banks individually losing $4.5 billion in revenue if they don’t bring their technology and systems up to date. With onboarding times rising by an average of three weeks in the last 12 months, if…
Trade and Transaction Reporting Challenges – EU Demands for US Firms
At the upcoming RegTech Summit New York, William Gates of SmartStream RDU will be enlightening us as to the current challenges around MiFID II and MiFIR for US-based firms; as well as giving a rundown of where we are (as far as anyone can really know!) with Brexit, and what the implications could be for…
MPs Call for Action Over IT Failures, Target Cloud Service Providers
MPs from the influential Treasury Committee have slammed the “unacceptable” level of IT failures in financial institutions, warning that greater penalties should be exerted on institutions that fail to meet requirements and calling for the UK’s three major regulators – the Financial Conduct Authority, Prudential Regulation Authority, and the Bank of England – to be…
FCA Pledges Major Investment in Data Analytics
The UK’s Financial Conduct Authority (FCA) has come in for its fair share of criticism over the years, both in the wake of the financial crisis and in the run-up to Brexit – and as the FinTech revolution sweeps across the global financial markets, the regulator is struggling to find its place in this brave…
SmartStream Launches New Artificial Intelligence Module
Transaction Lifecycle Manager solutions provider SmartStream Technologies has completed the proof of concept for its new artificial intelligence (AI) and machine learning module, to operate within its existing TLM Cash and Liquidity Management solution for receipts and payments and assist businesses with liquidity risk management and regulatory reporting. Hitherto, the firm has focused on developing…
Legal Compliance Planning Q&A: What Should Your Top AML Priorities Be for 2020?
Every bank needs a law firm, and the legal department is often the silent partner in the compliance dialogue – but their expertise is nonetheless essential. With 2020 on the horizon and regulations such as the EU’s Fifth Money Laundering Directive (5MLD) front and centre when it comes to compliance, many law firms will be…