RegTech Insight Risk Technologies The latest content from across the platform
Recorded Webinar: The future of KYC and AML: How to tackle the challenges and gain the opportunities of perpetual KYC
Perpetual Know Your Customer (or pKYC) could be a game changer for client onboarding, due diligence and financial crime compliance. Moving on from today’s reactive approach that conducts client KYC processes at onboarding and typically at one, three and five year intervals, pKYC takes a proactive approach, creating a digital KYC profile and dynamically refreshing…
RiskBusiness Acquires Gold Operational Loss Database
RiskBusiness Services has acquired the Global Operational Loss Database (Gold) from partner UK Finance, the former British Bankers Association (BBA). RiskBusiness, a UK-based provider of SaaS-based compliance solutions, plans to offer the Gold database to allow firms to benchmark and measure their exposures to operational risk. Mike Finlay, CEO and Chief Product Architect, RiskBusiness, says:…
Recorded Webinar: FRTB: What still needs to be done before the global deadline of January 2023?
While implementation of Fundamental Review of the Trading Book (FRTB) regulation has been delayed twice for reasons first of complexity and second of the coronavirus pandemic, the final deadline of January 1, 2023 is less than a year away. For banks in scope of the regulation, the time to put necessary risk infrastructure and data…
Suffolk Building Society Adopts TruNarrative for Financial Crime Mitigation
Suffolk Building Society has opted to start using TruNarrative’s platform for real-time financial crime decisioning and risk rating, in a move which the UK mutual says will significantly improve the efficiency and speed of onboarding new mortgage customers. Acquired by LexisNexis Risk Solutions in 2021, TruNarrative is UK based regtech which has developed a unified…
Operational Resilience Ranks High on Regulators’ List of Concerns
Increased regulatory scrutiny of operational resilience in capital markets is forcing firms to take a more proactive approach to maintaining critical business functions. Continuity planning inevitably comes into focus during major events such as a global pandemic. But regulators’ concerns around the prevalence of other incidents – from ransomware attacks to natural disasters – have…
Concern Remains as Delay, Revision and Data Hang Over FRTB
The proposed Fundamental Review of the Trading Book (FRTB) was formulated to protect banks against a repeat of the devastation caused to the sector during the 2008 financial crisis. Initially suggested in 2012, it was drawn up in 2016 by the Basel Committee on Banking Supervision (BCBS), and revised in 2019 with a view to…
Getting Real About Perpetual KYC
Perpetual KYC, or pKYC, has the potential to revolutionise financial crime compliance. But practitioners and vendors need to be realistic about what can be achieved. It is easy to see why financial institutions are enthusiastic about pKYC. A new report by PwC suggests banks can reduce their KYC costs by up to 80% across the…
Regulatory Change Management – What Does the Future Hold?
The ability of financial institutions to respond successfully to regulatory change is essential to ensure the integrity of the financial services industry. Yet operating the requisite change management programmes can often prove costly and onerous. On a recent A-Team Group webinar, a group of industry experts shared their unique thoughts on how to approach an…
Fidelity Investments Launches RegTech Business to Address Communications Compliance
US asset manager Fidelity Investments has created a new business unit focusing on helping clients manage their public communications in a fully compliant way. The new unit – Saifr – offers human augmentation tools to help financial institutions create, review, and approve public communications to mitigate brand, reputational, and regulatory risk. Saifr emerged from Fidelity…
PKO Bank Polski Selects SS&C FRTB Solution
PKO Bank Polski has implemented SS&C’s Fundamental Review of the Trading Book (FRTB) standardised approach solution. As part of an update of its risk management framework, the bank will use SS&C’s FRTB solution to calculate risk sensitivities and provide FRTB-specific calculations and workflows, extensive model coverage, high performance, scalability and extensibility through APIs. The bank…