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Technology applications enhance efficiency and make it possible to adopt the principles mentioned above. Technology is rapidly advancing the ability for financial institutions to leverage a central data repository containing all customer data with STP capabilities, which can then be integrated with semi-automated workflows. Acquiring the appropri
08 August 2010 /regulation
Gert Raeves Research Director at Adox Research Limited
Hello, my name is the international investment community and I have been brought low by my addiction to toxic assets. It took away my bonus, my job, my lifestyle and my reputation. As I am trying to make sense of what happened and how I can get my life back - I wanted to share with you a few things I learned about toxic assets the hard way: 1. To...
13 July 2010 /regulation /wholesale
During the normal course of business, financial institutions glean valuable data about their customers and the markets in which they operate. This data includes customer demographics, historical and current banking trends, historical and current financial statements, business activities and plans, market trends and norms, as well as probable risk ...
12 July 2010 /regulation
Elizabeth Lumley Global FinTech Commentator at Girl, Disrupted
There was a bit of a Twitter storm over this utterly, mind-numbingly ridiculous item from BBC4's the World the Weekend on the, now four year old 'storm in a teacup' that is the US/Swift data privacy debate, which contained such statements as this: Shaun Ley, BBC4 presenter: "If you pop down to the garden centre or a supermarket this afternoon...
05 July 2010 /security
I attended a conference last week, in Berlin. (where else would I be?) It was a multi-industry event sponsored by SAS, the Premier Business Leadership Series (basically it was their client conference). Before I delve into the banking stream, the first half of the conference focused on big issue, global economy and business leader issues. It was wit...
30 June 2010 /retail /wholesale
One of the primary inefficiencies that most hinders the lending process is a lack of Straight-Through Processing. Let’s begin with loan origination by way of example. When considering a credit, information regarding the borrower must be gathered, documented, and be made accessible to other employees within the financial institution involved in the...
10 June 2010 /security
I heard Francis Gross of the ECB speak at one of the panel events at the XTrakter Conference last week, and found that I couldn't avoid asking him whether the aims of the "Data Utility" initiative by the ECB could be better separated from the means by which the ECB proposes to solve them. At the moment, reference data issues for the ind...
04 June 2010 /regulation /wholesale
As everyone who has ever watched or read a science fiction thriller knows; there is always an evil scientist somewhere in the background to blame. Frankenstein's monster destroys--blame Frankenstein. SkyNet becomes self-aware and launches Judgment Day. Now some of the scientists are evil by design while others become corrupted by power. As Jef...
26 May 2010 /security /regulation
No B-movie or schlocky sitcom is complete without the "letter from the grave" plot device- in which the recently departed get to tell those who are left behind where the money (or the skeleton) is hidden. While ‘resolution and recovery plans' at least have reassuring alliterative potential, "living wills" is so much better. It ...
17 May 2010 /regulation
I spent most of yesterday at the FIX Protocol EMEA event. For my string of live Tweets, follow the #finxlive hashtag, or @LizLum. From now on we will try to incorporate #finxlive into our live Tweets from events, to make it easier to watch the 140 character nuggets of news, comment, and gossip from Finextra's roving journos. Now, back to FIX - as e...
24 March 2010
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