BankingTech

Stand by for light speed: high performance computing in financial services

Most debates about High Performance Computing in financial services quickly turn into conversations about high frequency trading, but there are many more reasons for getting the best of out of systems. Electronics and computer technology have always been pushing the boundaries of smaller, faster, cheaper (or at least, ‘more affordable’) and financial services firms have always been quick to take advantage of the latest advances.

Investment banks must provide “immediate” service improvement says TABB

As the world’s banks continue to struggle with severe regulatory change, economic turbulence and technological evolution, a new report by analyst firm Tabb Group says that financial institutions will have to provide immediate, friction-free access to content, community and execution, or face extinction.

New GMEX derivatives exchange plans global conquest

An international derivatives market called Global Markets Exchange Group International has been launched by co-founders Hirander Misra and Vj Angelo, in a bid to target new business opportunities created by changing financial regulation.

How to achieve customer-centricity

Why are banks and insurers struggling to operate as true customer-centric organisations when they know great customer service is a crucial differentiator? The answer lies in the enterprise operating model, which can create a structural barrier to achieving customer-centricity, writes Sean Tomlinson. head of consulting, private sector, Steria (right). The problem with the enterprise operating […]

Strengthening financial visibility for improved risk management

New research shows that large businesses are continuing to identify risk management and corporate governance as pressing financial priorities. To achieve true visibility into these areas, corporate treasurers need detailed insight and accurate forecasting capabilities.

Roundtable: the Future of Standards

Predicting the future is never easy, but trying to anticipate likely developments in a particular area is essential in order to take timely action. With that caveat, Stephen Lindsay, head of standards at SWIFT, sets a boundary on a discussion on the Future of Standards: “What we are trying to do is extrapolate a little bit from where we are now to where we might be in a few years’ time,” he says.

Stand by for light speed

Cover story: high frequency trading isn’t the only reason to deploy faster technology … Also in this issue: A road to nowhere? The UK’s plans to improve competition in retail banking are not without critics. The lure of the East: opportunities and challenges in the Middle East markets A watching brief: regulators are beefing up their […]

The battle for benchmarks: divisions in the ranks?

With lots of different regulatory benchmark efforts now underway, the industry could be forgiven for not taking a common stance. With IOSCO issuing final principles, ESMA and the EBA are simultaneously consulting on a European set of principles. Meanwhile the UK is moving ahead with its own reforms.

Twitter shakes up market: the impact of social media on algos

On 23 April 2013, the markets suffered a brief, sharp drop as algorithms reacted to “news” from the Associated Press’s Twitter handle that President Obama had been injured in a bombing attack at the White House. In a few minutes, the Dow Jones dropped 145 points, Standard & Poor’s 500 Index lost $136 billion in […]

Reducing threats to availability in the banking sector

The financial services sector’s growing interdependence between internet-accessible clearing and transaction processing infrastructure means that a successful DDoS attack can have far reaching consequences, such as customer dissatisfaction and loss of trust, brand damage, increased operating costs and lost revenue to name just a few.

FATCA, IGAs and AML Technology

After a long wait, the first real FATCA implementation deadlines are just around the corner. To meet the new account identification requirements, by 1 January 2014, institutions should be in the process of implementing the necessary upgrades in their onboarding and overall compliance systems and processes.

BAML boosts Boussuge to head GTS in EMEA

Bank of America Merrill Lynch has appointed Jennifer Boussuge as head of Global Transaction Services for EMEA. Boussuge has been with the company for more than 19 years, during which time she has held a number of leadership roles, most recently as head of global sales for GTS.

Changing banking for good: aspiration or opportunity?

The possibility of jail for miscreant top bankers has hit the headlines following publication of the Parliamentary Commission on Banking Standards final report, a compendium of all that is considered wrong with both banks and the regulator …

Misys shows its post-merger mettle

For the first three months of 2012, Misys was the subject of a protracted bidding war. Misys is clearly not the company it was a year ago:the firm has endured some painful change, but it has at least been quick. It has also produced what promise to be tangible benefits for users …

Embrace the internet to determine the future of banking

The impact of the internet on the banking industry may yet turn out to be far more important than the financial crisis and the subsequent regulatory overhaul. Viewing statements on-line and making payments electronically is just the very beginning of the revolution.

RBS poaches Berndt from BAML to head global transaction services

RBS has hired Carole Berndt as global head of transaction services. Berndt has been EMEA head of transaction banking at Bank of America Merrill Lynch for the past three years. She will be based in London and report to John Owen, chief executive, International Banking, at RBS, who said: “I am delighted to welcome Carole […]

ISO 20022 – A Hero for Our Times

ISO 20022 – A Hero for Our Times

ISO 20022 has been hailed as the lingua franca in payments and securities for some years now. It offers great potential for re-engineering the payments industry, and for process improvement, but for a standard that promises so much it is still relatively unknown.

Brokers need to focus on risk management says Tabb Group

Brokers will need to spend more on risk management over the remainder of 2013 if they are to survive incoming financial regulation and new technologies will be required to make that possible, according to new research by Tabb Group.

Innotribe names New York contenders for Sibos showdown

Innotribe, the Swift-backed initiative to enable collaborative innovation in financial services, has announced the names of the five contenders from the US leg of its annual Startup Challenge to compete at Sibos 2013 in Dubai in September.

The financial services production line: improving the customer journey

Customers expect their interactions to be as short, and as easy as possible, with a satisfactory outcome. This ideal customer experience can be achieved through a combination of the right strategy, the right resources, the right workforce skills and supporting tools and technology . But so many firms still fail to get it right

Lacking a legacy

Much has been said about the ‘bank 3.0’ landscape. We all now know that the Generation Y consumer, or the ‘digital native’ customer, demands a new type of banking. From online, anytime banking, to mobile payments, the face of banking is changing accordingly

Meeting the Needs of the Social Customer

While a child as young as nine years old can use Facebook and Twitter (despite rules saying users should be over 13), multi-million dollar financial service companies often fall behind in their adoption of social media.

Doubts cloud UK Treasury retail competition plans

UK Treasury officials and senior bank representatives showed diverging views over the future of retail banking at an event hosted by Experian in London yesterday, revealing differences of opinion about how best to reform the sector.

Next Level: the changing securities market

Cover story: the securities markets are changing rapidly, and none more so than fixed income. Also in this issue: Interview:  Thomas Zeeb, chief executive of Six Securities Services, on the opportunities presented by Europe’s changing post-trade infrastructure Interview:  Ruth Wandhöfer, global head, regulatory & market strategy at Citi Transaction Services, on the challenges still facing […]

Accounting for the value of (big) data

While the value of data has become increasingly clear to businesses in the wake of the financial crisis and subsequent regulatory and compliance initiatives across Europe, they are not yet reflecting data as a valued asset on their balance sheets.

Joining the dots: Thomas Zeeb, chief executive, Six Securities Services

The post-trade infrastructures behind the world’s securities markets face as much, if not more, regulatory driven change as the trading firms in the face of legislation such as the European Union’s European Market Infrastructure Regulation. While some of the effects will be negative, the regulators are showing a constructive approach and recognising that the infrastructure providers came out of the crisis well, says Thomas Zeeb, chief executive of Six Securities Services.

TriOptima tool targets OTC derivatives reporting business

As new rules governing the central reporting of OTC derivatives take effect across the G20 nations, TriOptima, a subsidiary of broker ICAP, has said it will verify and reconcile OTC derivatives data from US post-trade utility the DTCC’s trade repository – making it the first provider to do so.

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