ATP Goes Live with SimCorp’s SFTR Solution

ATP, Denmark’s largest public pension fund, has gone live on SimCorp’s cloud-based SFTR solution. ATP’s go-live coincides with the reporting start date for the third phase of SFTR, on January 11, where it joins several SimCorp clients who have smoothly transitioned to the cloud-based regulatory reporting platform, and successfully automated reporting to their chosen Trade Repository.

Finastra Moves Fusion Invest to the Cloud

Joining the drive to help asset managers digitally transform their operations, Finastra has moved its investment management solution Fusion Invest to the cloud. The cloud version of the solution is intended to bypass the shortfalls of on-premise software, giving asset managers agility to scale and access innovative products and services from Finastra and its partners in areas such as portfolio management and reporting. These solutions, along with Fusion Invest, are available on FusionFabric.cloud, an open and collaborative development platform and application marketplace underpinned by the Microsoft Axure cloud.

DSB Seeks Views on UPI Fees

The Derivatives Service Bureau (DSB), founded by the Association of National Numbering Agencies (ANNA), to facilitate the allocation and maintenance of ISINs, CFIs and FISNs for OTC derivatives, is calling on industry to respond to a first consultation on the fee model principles underpinning the Unique Product Identifier (UPI) service, which opened this week. The DSB urges market participants required to report to trade repositories anywhere in the world, and will be mandated to incorporate the UPI into their workflows, to review and respond to the consultation.

North Reef Capital Management Selects SS&C

North Reef Capital Management, a long/short equity fund adviser founded in 2020, has selected SS&C’s front-to-back office solution including Eze technology acquired in 2018 to run its operations. The firm will use Eze Eclipse’s front-office capabilities and SS&C’s administration capabilities to run and grow the fund. SS&C says more than 80 emerging funds are using the integration of Eze technology and SS&C’s fund administration services.

Fenergo Automates Client Onboarding Systems for Mizuho Americas

Mizuho Americas has deployed Fenergo client lifecycle management (CLM) software to automate Know Your Customer (KYC) and Anti-Money Laundering (AML) regulatory processes, digitalise workflows and accelerate client onboarding. The Fenergo implementation replaces manual processes and provides Mizuho Americas with a single, comprehensive view of customers across all business lines. Mizuho Americas’ parent, Mizuho Financial Group, is also planning to implement Fenergo’s CLM solution across its Global Securities division.

SmartStream Reveals New Brand Identity

SmartStream Technologies, the financial Transaction Lifecycle Management solutions provider, has launched a new corporate brand identity, including an updated logo and website. The new logo includes the infinity symbol, selected to demonstrate the continual evolution of the business, in line with the rapid pace of industry change.

CEO Haytham Kaddoura said: “We are proud of our history. With over four decades of experience behind us, we are a trusted partner to the financial industry, transforming middle and back-office operations globally. Our wealth of practical knowledge, coupled with a constant focus on innovation, sets us apart from the rest”.

NICE Actimize Offers Advanced Facial Recognition Through FACEPOINT

NICE Actimize today announced that FACEPOINT, which provides a biometric risk screening engine offering facial recognition technology for advanced KYC and watch list risk screening, has joined its X-Sight Marketplace. FACEPOINT uses facial recognition to disambiguate potential matches, reduce false positive rates and identify emerging threats such as those posed by unnamed persons of interest that are not covered by watchlists. NICE Actimize’s X-Sight Marketplace, which has grown to include more than 60 technology partners, is a financial crime and compliance ecosystem that connects financial services organizations with data, applications, tools and service providers.

GRI Calls for Strengthened Sustainability Reporting

The Global Reporting Initiative (GRI), the provider of some of the most widely used sustainability reporting standards around the world, has called for strengthened financial reporting that complements sustainability reporting and takes account of the financial risks and opportunities related to a company’s sustainability impacts – with mandatory disclosure to ensure transparency on corporate contributions to global challenges.

The proposals are included in GRI’s response to the International Financial Reporting Standards (IFRS) Foundation consultation on its potential role in sustainability reporting standards.

Global Financial Institution Fines for AML, Data Privacy and MiFID Rise 26%

CLM specialist Fenergo has released its annual findings on global financial institution fines which show that for the year to date, penalties have totalled $10.4 billion for non-compliance with AML, KYC, data privacy and MiFID regulations. The total volume of fines levied to financial institutions for these breaches was 198, a year-on-year increase of 141%. The average value of enforcement actions against financial institutions for AML related compliance breaches is 44% lower than in 2019.

UK’s RegulAItion Wins Singapore FinTech Accelerator

UK-based data platform company RegulAItion has won the Monetary Authority of Singapore (MAS) 2020 Global Fintech Hackcelerator, competing against over 270 submissions from across more than 40 countries. To secure the win, RegulAItion successfully demonstrated how its ground-breaking AIR platform can enable the financial sector to respond to two of its most pressing global challenges today – COVID-19 and climate change. The AIR platform blends privacy enhancing techniques, blockchain and AI in order to transform the way in which regulated organisations across the globe share data.

“We are absolutely honoured to have won this prestigious award. The MAS Global Fintech accelerator is the Oscars of financial services” commented RegulAItion CEO, Sally Sfeir-Tait.