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Research Unbundling for US Asset Managers: ‘One Size Fits Nobody’
RegTech Insight sits down with Joel Burnette, Solutions Consultant at Red Deer, to discuss the response to the research unbundling requirements of MiFID II… and explore how the US markets are handling the new normal. RTI: What has been the most interesting thing about the North American research market’s response to MiFID II? Joel: We…
AQMetrics Launches Self-Service MiFID II Reporting Solution
Dublin-based AQMetrics, a regulatory risk and compliance specialist, this week launched its first fully self-service Software-as-a-Service (SaaS) solution for MiFID II transaction reporting. An extension of the firm’s Approved Reporting Mechanism (ARM) solution, the platform allows firms to sign-up online for transaction reporting, self-manage data from multiple sources, avail of smart-validations with real-time error handling,…
EMIR and MiFID Transaction Reporting Challenges Continue to Trouble Firms and Regulators
Data quality is proving to be an enduring albatross around the necks of financial institutions that must comply with EU reporting rules under MiFID II and EMIR. A recent disclosure by the European Securities and Markets Authority (ESMA) shows that matching rates remain poor for derivatives transactions reported under the European Markets and Infrastructure Regulation…
Refinitiv Partners Appway to Provide Digital Onboarding for Wealth Management and Broker-dealer Clients
Refinitiv has reached a strategic partnership with Appway to integrate the latter’s client onboarding solutions on the Refinitiv BETA Platform, a suite of brokerage capabilities used by many US wealth management and brokerage firms. The integration reflects a growing desire among wealth managers and brokers to automate their services, and will enable financial intermediaries and…
Pragmatic Innovation is the Key to Success
By Alessandro Tonchia, co-founder and director of Finantix. Delivering innovative Artificial Intelligence (AI)-based technologies to improve business and operational performance is crucial to the future of the wealth management industry. Wealth management advisors are paid a certain amount of basis points on the proviso that they will give a clear view on what is best…
The Case for Effective AML Controls as the FCA Highlights Financial Crime Concerns, Targets Transaction Reporting
Alongside the UK’s Financial Conduct Authority (FCA) Annual Report and Accounts 2018/19 released this week, the regulator also published its Anti-Money Laundering (AML) Annual Report. Part of a wider focus on financial crime (which includes the National Risk Assessment of Money Laundering and Terrorism Financing of November 2017 and an FCA thematic review on capital…
Wolters Kluwer Launches OneSumX SaaS Regulatory Reporting Solution
Wolters Kluwer’s Finance, Risk & Reporting (FRR) business has launched a software-as-a-service (SaaS) Regulatory Reporting solution, marking the first time that the company’s OneSumX regulatory software has been made available on the cloud. The SaaS solution offers the same functionality as the company’s on-premise product, based on the upgraded OneSumX Regulatory Engine technology platform. The…
FactSet Launches KYC Application for Customer Due Diligence
FactSet, a global provider of integrated financial information and analytical applications, has announced the release of FactSet KYC, a cloud-based SaaS application that allows clients to streamline their KYC due diligence. The new RegTech app combines KYC robotic process automation with FactSet content and public registries, to improve the efficiency and consistency of the customer…
AI AML Software Trend Continues with Deutsche Bank’s Adoption of Finantix
At the beginning of July, Finantix announced that Deutsche Bank Wealth Management selected its AI-powered Finantix KYC Solution to help enhance the bank’s client onboarding and know-your-client (KYC) processes. The solution is already up and running in Germany, Deutsche Bank’s largest wealth management centre and the bank is now set to roll it out across…
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….