1077 Results from 2016
Rohas Nagpal Chief Blockchain Architect at Hybrid Finance (HyFi) Blockchain
Our ancestors started off with the barter system – something like “I will give you 2 buffaloes in return for 5 shiny new super-sharp axes”. Soon they realized that the barter system had too many limitations – everyone didn’t want buffaloes, buffaloes were neither divisible (not too many people would want 0.35 buffaloes) nor very portable (imagine ...
06 December 2016 /payments
Retired Member
By Laura Glynn, Global Manager of Regulatory Affairs, Fenergo It has been ten years since FATF published its last Mutual Evaluation Report (MER) of the United States. On December 1st, 2016, as many of us turned our attention to the final month of what has been quite an eventful regulatory year (think Panama and Bahamas Leaks, FinCEN Final Rule, M...
05 December 2016 /regulation
Chris Day Partner at Perdl
The only way to ensure that aggregate information in which to make critical decisions upon is accurate and precise is through semantic quality. The silos of data quality metrics across individual systems and their applications present a usable, if not blinkered view but an omission or misstatement may be considered material. Whilst approximations a...
Henry Hilska Managing Principal at Convexity Solutions
Data Privacy regulations increase challenges for bank KYC and AML programs Financial services organizations are under increasing pressure from regulators to focus on KYC and client due diligence. This pressure is exhibited in the form of fines and penalties that have been levied upon numerous banks and other organizations for lax procedures. Due...
02 December 2016 /regulation /retail Financial Services Regulation
Virtual reality, voice recognition, artificial intelligence, augmented reality: these are the technologies that are set to change the way we interact with each other and in business. They are the way of the future, a future not that far away. They will have a huge impact and are already making their mark. This is especially true in financial ser...
01 December 2016 /retail
Despite the considerable risk involved in removing legacy systems, not all big banks are hesitant to attempt to combat the problem, including NAB. Yet NAB’s implementation of a new core banking platform has been accused as the reason for the multiple online and mobile systems failures the bank has encountered this month. Though NAB are actively at...
Part 2 of "Are banks too big to scale" While changes in payments trends from consumers are placing increasing strain upon large, traditional bank systems, they aren’t the only force altering transaction and data volumes. The European PSD2 regulation requires banks to adhere to standardised changes intended to improve the industry, bringi...
The ever-increasing size of traditional, long-standing banks has been a fascinating point of discussion for many years now, with the possible problems arising from banks being “too big” having far reaching consequences. The financial crisis heightened the pressure for regulators to be more stringent on capital adequacy, but high profile government...
One solution to protecting financial data is simply to treat all data as sensitive. This would avoid the complicated work of developing and implementing complex data aggregation tools and procedures. However, this all-or-nothing approach would lead to unnecessarily large data storage requirements, especially in large firms. If a firm has global lo...
01 December 2016 /regulation Innovation in Financial Services
You don’t need to be an actuary to notice the correlation between the growth of ecommerce and the evolution of online merchant-based payment fraud. This is due two main factors: The first is the proliferation of Do It Yourself websites. These let merchants get their websites looking professional and legitimate in just a few clicks. All they have t...
01 December 2016 /payments /regulation
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