RegTech Insight Financial Crime, KYC & AML The latest content from across the platform
US SEC Charges Broker-Dealer Pinnacle Capital Markets with AML Related Customer Data Management Failings
In a move that mirrors some of the actions being taken across the pond with regards to customer data infractions, the Securities and Exchange Commission (SEC) has charged US-based broker-dealer Pinnacle Capital Markets with failing to comply with a key piece of anti-money laundering (AML) legislation and forced it to pay out a US$25,000 fine….
RBS Focuses on Data Quality in Order to Better Support its Risk Function
In addition to its entity data management project, the Royal Bank of Scotland (RBS) is also working to improve the overall quality of its reference data as part of its One Risk project. Mark Davies, head of reference data at RBS, explains to Reference Data Review that the firm’s risk function prompted the move, which is…
Central Bank of Oman Selects FRSGlobal to Implement its Banking Oversight and Research Solutions Project
FRSGlobal today announced that the Central Bank of Oman (CBO) has selected FRSGlobal to implement the new Banking Oversight and Research Solutions (BORS) project, in order to streamline and automate supervision and analysis of authorised financial institutions in the Sultanate. Hamood Sangour Al Zadjali, executive president of the CBO, stated that: “The 21st century will…
Kroll Ontrack Launches the Next Generation of Document Review with the Introduction of Intelligent Prioritisation
Kroll Ontrack, a provider of information management, legal technologies, and data recovery products and services, today announced the launch of Intelligent Prioritisation within Ontrack Inview version 6.2. This new feature is a significant step towards adding innovative Intelligent Review functionality to its industry-leading document review tool. It empowers legal teams to conduct review in a…
RBS is in the Final Stages of Consolidating Legal Entity Database Across Wholesale Business, Says Davies
Royal Bank of Scotland (RBS) Group may have faced a substantial fine this month from the UK Financial Services Authority (FSA) with regards to failures related to its anti-money laundering (AML) checking process, but a lot of work has been going on in the background at the firm in order to get its customer database…
Tykoczinski Joins Kinetic Partners, Bolstering Risk and Valuation Services
Isabelle Tykoczinski has been appointed a member at Kinetic Partners, and will be joining the London risk team to strengthen and develop Kinetic Partners’ current risk offering. This new appointment will further enhance Kinetic’s capabilities across the risk spectrum, backed up by proven execution capabilities, including its Risk and Valuation Services (RVS) platform and analytics….
UK FSA’s £5.6m Fine for RBS Group Highlights Need for Greater Investment in Customer Data Management
The UK Financial Services Authority’s (FSA) £5.6 million fine for Royal Bank of Scotland (RBS) Group this week for the group’s failure to have adequate data checks in place to conduct mandatory anti-money laundering (AML) screening is indicative of the need for firms to get a better handle on their customer data. According to the…
Strate Completes Corporate Actions Automation Project for South African Market with TCS
Four years ago, South African central securities depository (CSD) Strate launched its project to automate its equity corporate actions processing and, a year later, in September 2008 it engaged the services of Tata Consultancy Services (TCS) to develop the new system. Following a period of development and testing, the system has now gone live and…
Fiserv Selects Omgeo ProtoColl as Collateral Management Solution
Fiserv, a provider of financial services technology solutions, today announced that it will utilise Omgeo ProtoColl as its dynamic collateral management solution. Using Omgeo ProtoColl, new and existing Fiserv customers on the TradeFlow platform will be able to automate their collateral management process, handle numerous asset classes and increase visibility into credit exposure to mitigate…
Rana Joins XSP as Senior Business Analyst for EMEA in London
XSP announced today the appointment of Harry Rana as senior business analyst for EMEA. Rana will be responsible for supporting the expanding EMEA sales programme and client base for the XSP Corporate Actions software platform in a pre-sales and business analyst capacity. Based in London, Rana will report to Neil Sheppard, managing director and chief…