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Central Bancompany Chooses Wolters Kluwer for Change Management
Missouri’s Central Bancompany has chosen to implement Wolters Kluwer’s regulatory change management solution across its 13 affiliate banks. OneSumX for Regulatory Change Management tracks regulatory changes and maps them to specific lines of business, providing enhanced risk and controls assessment. Central Bancompany also uses Wolters Kluwers’ OneSumX Risk and Controls Assessment to manage its enterprise…
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…
Beam Raises Seed Funding for New Compliance Venture
Former Facebook and Paypal executives including Ben Duranske, former Facebook Chief Compliance Officer, have raised $9 million in Series A funding for Beam Solutions, a transaction monitoring platform designed to tackle financial crime and money laundering. The funding round was led by Greycroft Ventures and Canaan, while other investors included Broadhaven, Conversion Capital, Plug and…
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…
Industry Players React to FCA Concerns Around MiFID II and PRIIPs Disclosure Requirements
The Financial Conduct Authority (FCA) last week published key findings from a supervisory project to assess the effectiveness of disclosure by asset managers and intermediaries on the back of MiFID II and PRIIPs reforms – warning against non-compliance for asset managers failing to disclose all associated costs and charges. However, the findings have provoked strong…
FCA Chief Predicts Cost Savings of up to £1bn from MiFID II Research Unbundling
In his keynote speech on MiFID II at the European Independent Research Providers Association on February 25, UK Financial Conduct Authority (FCA) CEO Andrew Bailey praised the impact of the MiFID II research reforms, but stressed that independent research providers could not force asset managers to acquire their services, and warned that the FCA does…
Refinitiv Partners with Liquid Inc for KYC in Japan
Refinitiv has announced a new partnership with Japan’s Liquid, Inc. to streamline the electronic Know Your Customer (eKYC) process for the Japanese market. The agreement will combine the screening capabilities of Refinitiv’s World-Check One solution with Liquid Inc’s biometric authentication service, LIQUID eKYC, to help financial services providers improve their customer on-boarding and transaction capabilities. Liquid, Inc. will incorporate the risk screening…
Solidatus Opens New Singapore Office
Data lineage solutions provider Solidatus has opened a new office in Singapore to service the Asia-Pacific market. The expansion follows two successful trade missions to Asia with the UK Department of Trade in 2018: the Hong Kong FinTech Week 2018 and the Singapore FinTech Festival 2018. “The decision to expand our presence in APAC was…
CubeLogic Launches Version 7.0 of RiskCubed Platform
CubeLogic, which provides business intelligence-enabled risk management solutions, has announced the launch of its latest RiskCubed platform, with updates including new HTML5/Angular technology to improve user experience. The Credit Risk Cube now includes counterparty centric navigation, extended portfolio capabilities and streamlined workflows for bulk margin call management. The Market Risk Cube has a new meta…