Chris Hansen Co-Founder at Adoptech Ltd
The recent internet outage caused by a fault with cloud computing service Fastly, which took down thousands of websites in multiple countries, was a painful reminder of the importance of operational resilience. Payment provider PayPal was among the most heavily-used services to be hit, and the failure was reminiscent of TSB’s IT meltdown in 2018 w...
13 September 2021 /regulation /cloud Operational Risk Management
Alex Simpson Publications at Mansion House Consulting
Why we should be utilising the benefits of ISO 20022 Author: Mansion House Consulting Publications ISO 20022 is finally upon us and is set to revolutionise payments and networks. Indeed, as FinExtra reported, 90% of the world’s public and private high-value networks. For the uninitiated, ISO 20022 is an ISO standard for electronic data interchang...
10 September 2021 /payments /regulation SWIFT Matters
Cyril Lalo CEO at ellipse Inc.
From remote transaction outlier to most vital card data Over the past 20 years, Card Security Codes (also known as CVC2, CVV2) usage has greatly expanded from confirming genuine cardholders to securing eCommerce transactions, eWallet enrollments, and profile management, to name just a few. The Card Security Code has become the initial verificatio...
10 September 2021 /payments /regulation Dynamic Card Security Code, CNP & eCommerce Forum
Doug Gross CEO at NGDATA
Today, many banks are united by a common challenge: managing the limitations of their legacy cores and the operational, compliance, and customer personalization pitfalls associated with them. Monolithic legacy cores do not offer the level of functionality that modern banking customers need, especially those favoring digital experiences in a post-p...
08 September 2021 /regulation /retail Banking Strategy, Digital and Transformation
Garima Chaudhary Head of Fin. Crime Solution Consulting at Oracle
The current financial crime compliance management efforts are based on a combination of automated but static analysis of a pre-determined set of risk factors, together with human judgement. Legacy systems are updated with new algorithms and manually inputted information, generating matrixes for risk interpretation and action, but these very rarely...
08 September 2021 /regulation /crime Innovation in Financial Services
Anne Plested Regulation at ION Markets
The UK Treasury’s Wholesale Markets Review consultation paper devotes some attention to access to liquidity. In Europe, the review of MiFID II is progressing and like rules are also in scope. Tracking upcoming regulatory changes in the UK, alongside those proposed in Europe, focuses on the different treatments offered in each jurisdiction for the ...
07 September 2021 /regulation /markets
Jim Steven Head of Crisis & Breach Response at Experian Consumer Services
Data breaches require considerable time and resources to resolve. The damage can be extensive, from financial costs and operational downtime to untold reputational harm, while the shift to remote working has exposed new vulnerabilities too. With such wide-ranging consequences it pays to be prepared but according to latest Experian research, only 19...
06 September 2021 /security /regulation Data Management and Governance
Beth Benedict SVP of Client Services at Rakuten Advertising
Consumer finance is an extremely competitive space. Banks, lenders and credit card providers are battling against one another to win over new and existing customers with tailored reward incentives, flexible spending limits, low APR, etc. In order to succeed, financial institutions turn to data-driven marketing tactics to get in front of consumers ...
03 September 2021 /regulation /retail Marketing in Financial Services
Alex Ford President, North America at Encompass | RegTech Association | Women in RegTech
Perpetual KYC or pKYC is an emerging concept in financial crime compliance. It has generated great interest and accelerated digital-first approaches because of the cost and risk benefits on offer if firms can maintain KYC profiles dynamically as new information becomes available. Today KYC is typically undertaken on 1, 3, and 5 year cycles which c...
02 September 2021 /regulation /crime Banking Strategy, Digital and Transformation
Retired Member
Introduction The eager and rapid adoption of artificial intelligence (A.I.) by financial institutions (F.I.s) may surprise those outside this otherwise cautious industry. However, the industry consensus is clear that intelligent technologies such as A.I. are major factors in the race to differentiate and establish market share. For example, a surv...
01 September 2021 /regulation /crime Innovation in Financial Services
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