Operational risk

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/Operational risk

Blom Bank chooses Wolters Kluwer for op risk

Blom Bank the leading Lebanese bank, has chosen Wolters Kluwer’s OneSumX to provide it operational risk software solution.

LME hit by second problem in a week

/Operational risk

LME hit by second problem in a week

It has been a week to forget for the London Metal Exchange after it was forced to delay trading on Friday by four hours due to a connectivity issue with an external network provider, according to Bloomberg.

MasterCard to apply for China payments licence - Reuters

/Operational risk

MasterCard to apply for China payments licence - Reuters

MasterCard is considering an application to become a licenced payment services provider in China, according to Reuters.

Thailand considers fintech regulation

/Operational risk

Thailand considers fintech regulation

Thailand's central bank has called for more regulation of the country's growing fintech sector in order to prevent systemic risk and protect consumers.

/Operational risk

Artemis selects behavioural analytics software for compliance from Sybenetix

Leading UK-based fund manager Artemis has agreed a multi-year deal for Sybenetix’s end-to-end market abuse surveillance, case management and conduct management system.

Worldpay's payments glitch rumbles on

/Operational risk

Worldpay's payments glitch rumbles on

UK payment processing firm Worldpay is experiencing ongoing problems issuing payments despite promising to work with clients to resolve the software issue.

US lawmakers to investigate Fed's cyber security

/Operational risk

US lawmakers to investigate Fed's cyber security

A US congressional committee is to investigate the Federal Reserve's cyber security practices, according to Reuters which recently reported that there have been more than 50 cyber breaches at the central bank between 2011 and 2015.

Singapore regulator proposes fintech sandbox

/Operational risk

Singapore regulator proposes fintech sandbox

The Monetary Authority of Singapore (MAS) has issued a consultation paper proposing a regulatory sandbox for fintech startups and pilot schemes.

Australian banks suffer ATM problems after cloud service outage

/Operational risk

Australian banks suffer ATM problems after cloud service outage

Millions of Australian banking customers were unable to access ATM and Eftpos services on Sunday after severe storms on the east coast caused widespread damage, including a major outage at a cloud computing service used by several banks.

/Operational risk

Wall Street Blockchain Alliance launches certification programme

The Wall Street Blockchain Alliance (WSBA), in partnership with Positrust LLC, an industry leading technology company, has announced the unveiling of the WSBA Certification Framework (WCF).

/Operational risk

ECS delivers Splunk operational intelligence

UK-based IT services firm ECS today announced that it delivered Splunk’s real-time Operational Intelligence solutions to four of the UK’s largest financial services firms and a top three British retailer.

/Operational risk

Basel Committee issues proposed revisions to the operational risk capital framework

The Basel Committee has today issued for consultation proposed revisions to the operational risk capital framework.

/Operational risk

DataArt appoints Cliff Moyce as global head of its financial practice

Global technology consulting firm DataArt has appointed the seasoned financial services and capital markets executive Cliff Moyce to head up its rapidly expanding financial practice.

/Operational risk

Investec Wealth & Investment goes live with Calastone Transfer Service

Calastone, the global funds transaction network, today announces that Investec Wealth & Investment, one of the UK’s largest private client wealth management firms, has gone live with Calastone’s recently launched Transfer Service.

/Operational risk

Investec opts for Euroclear UK & Ireland's automated fund service

Investec Wealth and Investment Ltd (‘IW&I’), a leading wealth manager with responsibility for in excess of £26 billion clients’ AUM, has adopted Euroclear UK & Ireland’s (EUI) automated settlement and custody service; CREST, for its UK investment fund flows.

Markit to create Know-Your-Vendor data hub

/Operational risk

Markit to create Know-Your-Vendor data hub

Barclays, HSBC and Morgan Stanley are working with Markit on the creation of a cloud-based network for assessing and monitoring third party vendor risk.

HSBC glitch leaves thousands of customers without salaries

/Operational risk

HSBC glitch leaves thousands of customers without salaries

An IT problem at HSBC has affected some 275,000 Bacs payments and left thousands of customers without their monthly salaries just before a bank holiday.

SunGard apologises for BNY Mellon system glitch

/Operational risk

SunGard apologises for BNY Mellon system glitch

SunGard has issued a public apology to custody bank BNY Mellon for the outage of its InvestOne accounting system used by the bank to price thousands of funds.

SunGard system glitch causes havoc for BNY Mellon and US funds market

/Operational risk

SunGard system glitch causes havoc for BNY Mellon and US funds market

BNY Mellon and its fund manager clients are scrambling to assess the damage caused after a third party system run by SunGard and used by the bank to value assets worth billions of dollars broke down.

Buy-side still reliant on manual process for complex derivatives - report

/Operational risk

Buy-side still reliant on manual process for complex derivatives - report

Almost half of asset managers are still reliant on costly manual processes to manage complex derivatives creating a dangerous level of operational risk according to a report from buy-side systems vendor SimCorp.

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