Latest opinions that Niall Twomey has shared on Finextra

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Niall Twomey

Chief Technical Officer

Fenergo

Member since

13 Nov 2017

Location

Dublin

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Niall's opinions

The Role of Blockchain and DLT in e-KYC Utilities

In this nascent market, organizations are exploring the speed and accuracy of DLT and the enhanced security of Blockchain. In this blog, I take a look at the DLT and blockchain technologies that can make decentralization and sharing of quality data a reality for e-KYC utilities. When we explore the bank-driven approach to KYC customer record shari...

01 April 2020 /regulation /crime Blockchain in Banking and Financial Services

6 Reasons to Connect to e-KYC Utilities

Over the last three blogs in this series, we’ve analyzed the need for e-KYC utilities to solve the current KYC challenge. We’ve examined the need to learn from previous KYC utility attempts and explored the role of distributed ledger and blockchain technologies to achieve a coveted decentralized approach to KYC utilities. In this final blog, we lo...

19 March 2020 /regulation /crime

KYC Utilities: The Second Coming, Learning from Past Failures

In the previous blog, I examined the current compliance challenge and how e-KYC utilities can solve the age-old challenges of collection, validation and processing of customer data and documentation. In this blog, I look at the KYC utility models of the past and the three key learnings we can take from these experiments for the second coming of e-...

11 February 2020 /regulation Financial Transformation

Can e-KYC Utilities Solve the Compliance Challenge?

The global financial services sector continues to be rocked by a series of regulatory fines and money-laundering scandals, totaling more than US$36 billion in fines over the past decade. In the first of a new series, I explore the key KYC challenges facing financial institutions across the world and the increasing adoption of digital KYC and e-KYC ...

31 January 2020 /regulation /crime Banking Strategy, Digital and Transformation

8 Major Benefits of Cloud Technology for Client Lifecycle Management

Cloud technology has developed and evolved in line with the myths that surround it. Up until 15 months ago, banks were publicly reticent about moving core banking services to the cloud for a myriad of regulatory and security concerns, including issues over confidentiality of data, lack of control of data, data breaches, and legal and compliance is...

28 November 2017 /regulation

Navigating Data Residency and Privacy Compliance in the Cloud

Security and data security concerns have traditionally topped the list of issues for lack of adoption of cloud technologies by banks. Security and data security concerns have traditionally topped the list of issues for lack of adoption of cloud technologies by banks. In a survey conducted by Forrester Research a few years ago, it found that the top...

23 November 2017 /regulation

Cloud Adoption: A Quiet Revolution in Financial Services

The global financial services industry is on the brink of a massive technological disruption. The emergence of fintech (financial technology) and regtech (regulatory technology) vendors has created a tech race for banks, helping to fast-track the innovation path for many of them. Conversely, it has also highlighted the laggards, weighed down by le...

20 November 2017 /regulation