Latest Reporting/compliance News: Finextra Research

AxiomSL allies with Confinale to bolster European presence

AxiomSL, the industry’s leading provider of risk and regulatory reporting solutions, today announces its association with Confinale, an IT consulting and software development company specializing in the banking sector.

22 September 2020

News/crime

FinCen leaks throw doubt on banks' AML efforts

A remarkable leak detailing 17 years' worth of confidential transaction reporting has cast doubt on banks' anti-money laundering (AML) efforts by suggesting that leading banks continued to transfer money even when they knew it could be connected to fraud.

21 September 2020

News/sustainable

Coalition of UK banks launched to standardise carbon accounting

The Partnership for Carbon Accounting Financials (PCAF) is launching a coalition aimed at the promotion of measuring and disclosing carbon emissions in the UK financial services industry.

18 September 2020

News/crime

Fintech bids for Wirecard's Aus and NZ businesses

The break-up of the various international businesses of disgraced payments processing company Wirecard continues after it emerged that Australian payments firm Change Financial is set to buy its Australian and New Zealand businesses for $7.8m.

14 September 2020

News/crypto

Lagarde makes case for digital euro

The president of the European Central Bank, Christine Lagarde, has suggested that the Euro Zone's central bankers are close to making a decision on whether to press ahead with the development of a central bank digital currency (CBDC).

11 September 2020

News/sustainable

CFTC report makes urgent call for data to mitigate climate risk

In the first ever comprehensive recommendation to be provided by a US financial regulatory agency to other regulators and financial institutions, the US Commodity Futures Trading Commission’s (CFTC) Climate-Related Market Risk Subcommittee has released a strong warning signal about climate risk management.

09 September 2020

News/sustainable

Maths for ESG: How one calculation could ignite climate action

A cluster of ESG driven minds are honing a risk-weighting methodology for banks to implement across climate-exposed assets.

09 September 2020

News/regulation

ICO’s new code to protect ‘datafied’ children

Having come into effect on 2nd September, the ICO’s Age Appropriate Design Code has dealt firms a new raft of cumbersome data protection requirements to implement within a 12-month transition period.

09 September 2020

News/regulation

PRA challenges business models of new banks in consultation paper

In a recent consultation paper, the Prudential Regulation Authority (PRA) set out its proposed approach to the supervision of both new and growing non-system UK banks.

24 August 2020

News/sustainable

AFME: Support banks in reducing investment in high carbon emitting sectors, don’t punish them

In light of the European Commission’s call for comment on the Renewed Sustainable Finance Strategy, the Association for Financial Markets in Europe (AFME) posited that the cornerstone of future policies should be transition in the real economy – non-financial sectors – and banks should encourage and support them to reflect on uptake, effectiveness and identify issues and gaps in their current approach.

05 August 2020

Company update/retail

Finastra strikes deal in Uzebekistan

Finastra announced today that People's Bank, a retail and commercial bank in Uzbekistan, is deploying Fusion Risk.

30 July 2020

News/wholesale

Credit Suisse unveils operational restructuring

Swiss bank Credit Suisse has announced a "series of structural improvements" which will see it combine several divisions in search of operational efficiencies.

30 July 2020

Company update/wealth

Data management firm Kneip appoints new CEO

Kneip, the fund data management company, is today announcing that it has appointed Enrique Sacau as CEO, with current CEO, Neil Ward, stepping away to focus on the growth of his own consultancy.

30 July 2020

Company update/regulation

Gresham acquires Inforalgo for reg reporting

Gresham Technologies (Gresham), the leading fintech in reconciliations, banking integration and cash management solutions, has today announced the acquisition of Capital Markets data automation specialist, Inforalgo Information Technology Ltd (Inforalgo).

29 July 2020

News/crime

Bank of Ireland fined for cyber security failings

Ireland's Central Bank has imposed a €1.66m fine on Bank of Ireland (BoI) for a regulatory breach that saw one of its subsidiaries transfer more than €100,000 to a hacker that had illegally accessed a client's email account.

29 July 2020

Company update/regulation

UK consortium launches AI platform for regtech data

A new cross-sector consortium of major businesses and universities is set to provide the key to the suffocating challenge of data access for regulated industries through a Responsible AI powered industry-agnostic platform; the AIR Platform.

28 July 2020

News/people

Westpac hires new IT head

Australian bank Westpac has appointed former ANZ technology chief Scott Collary to lead the consolidation of its technology and operations division.

28 July 2020

News/regulation

Wirecard scandal signals EU regulatory overhaul

European Union officials have suggested that there will be changes in the supervision of fintech firms in the wake of the £1.8bn accounting scandal at German payments firm Wirecard.

27 July 2020

News/payments

Crafting a unique instant payments business case by shifting mentalities

As fully-digital customer experiences and faster funds transfer are now essential elements of business continuity and resiliency, it is clear that the global impact of Covid-19 is working to accelerate instant payments adoption.

24 July 2020

News/sustainable

ESG standards: No silver platter of harmonised data

A desire for standardisation of ESG data may be folly, according to Bruno Bertocci, head of sustainable equities at UBS Wealth Management.

20 July 2020