Risk Management

European banks under siege from digital challengers and sophisticated cyber attackers could face some relief from a possible change in accounting rules that will enable them to spend more on new software.

Management and technology consultancy BearingPoint, which ranks among the leading providers of regulatory and risk technology (RegTech/RiskTech), announced that BNG Bank has selected its flagship product ABACUS/Transactions as a Regulatory-as-a-Service (RaaS) solution to fulfill several types of transaction-based reporting obligations without needing to have multiple data deliveries.

Fintech is still too small a chunk of the global financial system to present a compelling stability risk but the sector's fast-paced development means that international regulators should collaborate closely to guard against future risks, says a new report. Put together by the international Financial Stability Board (FSB), the report identifies 10 fintech-related areas that "merit authorities' attention".

The Center for Financial Professionals interviewed Dalit Stern, Director of Enterprise Fraud Risk Management, TIAA Financial Services, ahead of the 6th Annual Risk Americas Convention, where she provides insights in to the importance of measuring fraud through KRIs and metrics and more.

Sixty-two percent of European financial institutions expect to increase spending on payments technology throughout 2017, driven by the revenue-generating opportunities of instant payments and the need for increased operational efficiency.

Nasdaq's BWise (Nasdaq:NDAQ), a global leader in enterprise Governance, Risk Management and Compliance (eGRC), and KPMG LLP, the U.S. audit, tax and advisory firm, today announced a strategic alliance to help clients improve how they address risk and compliance challenges more effectively across their enterprise.

Global CRASH Report from CAST uncovers applications in Financial Services can be exploited to steal confidential information.

Sword Active Risk, a supplier of specialist risk management software and services, has announced its Deal Registration program, a new commercial Partner arrangement designed specifically to support Risk Consultants. Independent Risk Consultants are now able to introduce Active Risk Manager (ARM) to projects and receive a referral fee. The new initiative underlines Sword Active Risk’s commitment and participation in the risk community. Many Risk Consultants already attend the annual ARM Global Conferences, which have become noted events for risk management professionals across the world to share best practice and network with peers.

Many a blog or article piece on banking risk and regulation have started with the words ‘since the 2007/2008 financial crisis…’. This is as a result of the fundamental regulatory changes that have occurred since. The industry has seen a tsunami of regulations that have swept through the industry and stretched banks resources, increased their overall capital requirements and profoundly effected how banks operate. Add on top of this the UK’s decision on 23 June, 2016 to vote to leave the EU and the uncertainty that a Brexit vote leaves the entire nation, it is by no surprise that the largest industry in London, the financial industry, is set for further uncertain times ahead.

BearingPoint’s ABACUS/Solvency II has received its third industry award in recognition of the company’s excellence and expertise in regulatory reporting for the insurance industry.

US banks are opening themselves up to increased strategic risk by moving into new products and services as a way to take on emerging fintech rivals, warns the Office of the Comptroller of the Currency (OCC) in a report which also highlights the threat of cyber attacks and an increased reliance on third-party tech service providers.

MetricStream, the market leader in governance, risk and compliance (GRC) apps, has today released the results of a global survey revealing the current state of third party risk management. Respondents were from more than 40 organisations, across 15 industries – including financial services, retail, healthcare, pharmaceuticals and insurance.

Citi today released the latest Risk Management findings from its award-winning benchmarking tool, Citi Treasury Diagnostics (CTD), designed to help companies assess the effectiveness of their treasury, working capital, and risk management practices. The Risk Management findings are based on comprehensive results gathered from a diverse group of large corporates, industries and geographies.

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