Industry Comment

High frequency traders under the regulatory spotlight

The regulatory spotlight is shining on high frequency traders and dark pools, but the technological changes that have driven down trading costs for everyone will not be reversed. With market making increasingly the preserve of profit maximising algorithmic traders, there is a growing responsibility on institutions to control where their trades are going and how they are being executed. Those that do not are writing checks to HFTs with clients’ money

How to fight cyber crime

The recent nomination of the British Banker’s Association as an intelligence node and source of benchmarks and practices in the UK’s financial infrastructure, via CBEST, has pushed the role of the banking sector in detecting and remediating breaches into the spotlight. So what can banks do to ensure their cyber defences are up to the task?

Finance made social

The social contract between the banking system and society is fundamentally broken. We deserve a financial system that we can all be proud of, one that is fairer and more sustainable than the current iteration.

Money laundering: rapid development is creating new risks

The internet has opened the door to purchase almost anything from any part of the world through electronic payments. As globalisation continues to flourish – especially in the banking industry – it’s now possible to transfer money across different countries with ease and speed. While this has increased the opportunity for businesses to extend their reach globally, it also creates an appealing opportunity for criminals.

Gearing up for the future of payments

It is essential for banks to ensure they have the right strategies and technology in place now, if they are to retain their position as market-leading payment providers in the future, writes Saket Sharma,chief information officer, treasury services, BNY Mellon.

Blog: Get Ready to Be Acquired

The M&A market for payments companies is booming, as larger companies look to acquire smaller innovators. Even if no deal is on the immediate horizon, early preparation pays off when a sale transaction is at hand.

Blog: The Future Is Financial Health

If we want to consolidate the gains we’ve made and scale the innovations we’ve seeded, we need to think big. We need to redefine financial services from the pursuit of wealth to the pursuit of health.

Regulatory overload and the role of the data scientist

In the ongoing discussion about the need to use data to increase business value, it is imperative to substantiate the argument with practical, real-world use cases. Otherwise, the debate becomes just another line of marketing waffle around big data – an area already suffering from too much hype.

Across the spectrum: ISO 20022 perspectives

The original concept of the ISO 20022 was to create a repository of data used in financial messaging to communicate business information of any type – and to be able to add any types of data that might arise in the future. There has been a lot of focus on the use of the standard in payments and securities messaging roles, this has obscured its current and potential use in other areas.

Cross border co-operation is key to the safe evolution of financial markets

Global financial markets are experiencing a paradigm shift as governments, regulators and participants recalibrate the processes and structures underpinning global finance. The challenge is to repair and remedy where needed, with dialogue between central banks, regulators and participants, but also to avoid creating fragmented markets or worse, unintentionally reintroducing risk.

ISO 20022: the beginning of the future?

The ISO 20022 standard is 10 years old this year, but its roots go back to some five years before that, and the story of its development and adoption is likely to go on for many years in the future. The datum point is probably the publication in 1999 of a Green Paper from SWIFT called ‘Building Standards for Tomorrow’. The modest proposal in that document is that “the next generation of standards will be based on a structured and formal framework”.

Intraday Liquidity Reporting

Reporting on the management of intraday liquidity risk will start on a monthly basis from 1 January 2015 to coincide with the implementation of the liquidity coverage ratio reporting requirements. Christian Goerlach, global head of FI balance sheet & liquidity, Deutsche Bank, takes a closer look at some of the issues facing global banks.

The rise of the challenger banks

The face of retail banking in the UK is changing. In July 2010, the sector witnessed something not seen in over 100 years – the launch of a new high street bank. And where Metro Bank led the way, new and non-financial consumer brands are following suit.

Open source middleware is everywhere in financial services

Enabling rapid growth and agility with creaking IT systems poses a major challenge to UK financial services companies where the IT infrastructure, as in many other industries, has evolved over time and features a wide variety of solutions.

Is your analytics solution getting the better of you?

All banks, whatever their size rely on data to make decisions. With that in mind getting that data in a timely manner and in a format that can be digested easily is critical. So why can this be so difficult? We are all used to receiving reports from our systems and even the most rudimentary examples will utilise some form of analytics, however simple. We might be getting the reports and be used to the status quo, but is your analytics platform getting the better of you?

The brave new world of mobile banking

The digital era is changing your bank rapidly. Is your mobile testing & assurance practice ready? P Venkatesh, director of the product division, and Srivatsan TT, vice president of the solutions group, at Maveric Systems discuss the issues

The mobile movement driving multi-channel banking

Despite the significant challenges faced by the UK’s banking sector over the last decade, there has been a dramatic evolution in the customer experience following the introduction of online, telephone and mobile banking. While the branch remains an important channel, especially for older customers, mobile technology is rapidly redefining how customers interact with their banks.

FCA issues considerations on the procurement of off-the-shelf technology solutions

The Financial Conduct Authority has recently issued a series of “considerations” for firms that are thinking about using third-party technology banking solutions. The considerations do not seek to tell firms how to structure their IT procurements but rather provide a useful framework for firms to demonstrate that their IT services are effective, resilient and secure.

Getting ready for mobile payments

With the penetration of mobile devices, such as smartphones and tablets constantly growing, attention is increasingly turning to mobile marketing, mobile commerce and mobile payments. It is still the case, however, that these trends are largely played out in specialised media, and do not influence the actual behaviour of consumers. This is especially true for mobile payments, with consumers very sceptical about this concept

As global commerce expands, so does payments complexity: How should banks respond?

The increased globalisation of business has opened up new challenges – and opportunities – for companies and the banks that serve them. Corporate treasurers and finance professionals face complexities in the payments arena that range from inconsistencies in local payment processing to new regulations, emerging payment clearing systems and the need to manage geopolitical risk in an ever-expanding array of countries. To address these challenges for their clients, and for themselves, global banks need to invest and innovate to make sure they have the solutions to meet business needs today and in the future.

Moral hazard: the ghost of bail-outs past

The bailout of Espirito Santo Bank brings back unwelcome memories of the events of the last financial crisis and raises the spectre of moral hazard returning to the financial services industry both in the UK and abroad. But how far have we really come since those dark days of 2008 and the collapse of Lehman Brothers and how far do we still have to go? A quick look at recent events gives us a good indication.

The rise of the Asian superbroker

As the global banks grapple with tides of regulation, fines, and a myriad of other post-crisis issues, local Asian institutions are tooling up and stepping in to fill the gaps.

Should banks consider domestic payments schemes?

Domestic card schemes have traditionally partnered with MasterCard and/or Visa in an arrangement that leaves the domestic player handling the local transactions and their international partner facilitating and controlling the international business. Should banks work with both or just partner with one of the international schemes?

Viewpoint: The Case for Gift Card Exchange

Gift card exchanges play a key role in connecting motivated shoppers with retailers and driving incremental sales, according to survey data from Blackhawk Network. Consumers say they’d like to see more retail locations add gift card exchanges.

Blog: Emerging Trends in Prepaid Card Fraud

Fraudsters are ingenious at finding cracks in the bulwark against prepaid card fraud, but industry cooperation can blunt their effect with strategic practices that are surprisingly easy to implement.

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