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Data Management

Enterprise data management RegTech SteelEye has secured $10 million in growth capital in a round led by the FinTech Strategic Investments team at Eight Roads, the proprietary investment firm backed by Fidelity, alongside existing investor Illuminate Financial.

Technological innovations in financial services (fintech) are increasingly transforming the way financial services are provided. While fintech opens opportunities, it also comes with potential risks.

The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today their second joint Opinion on the risks of money laundering (ML) and terrorist financing (TF) affecting the European Union's (EU) financial sector.

A senior executive at the European Central Bank has warned that the next financial crisis may be triggered by a cyber attack.

UK consumer electronics retail group Dixons Carphone has been fined £500,000 after hackers compromised its point-of-sale system and gained access to the details of 5.6 million payment cards.

Hackers have stolen 7000 bitcoins worth $40 million in one transaction on crypto exchange Binance.
Binance announced this morning that it had discovered a "large scale security breach" involving the theft of user API keys, 2FA codes, and potentially other info, alongside the withdrawal of 7000 bitcoins.

Some of America's biggest banks have joined forces with fintech firms to launch a non-profit organisation that tackles the contentious issue of sharing consumer data.
Bank of America, Citi, JPMorgan Chase and Wells Fargo are among the banks backing Financial Data Exchange (FDX), alongside a host of firms, including Intuit, Xero and Yodlee, that want access to consumer account data.

Nine out of ten people say data privacy is important to them, according to a recent Mastercard-commissioned survey, yet only one-quarter say companies are doing a very good job handling individuals’ data.

AxiomSL, the leading global provider of regulatory-reporting, risk and data-management solutions, today announced that it has received ISO/IEC 27001:2013 certification (known as ISO 27001). The certification covers AxiomSL’s core software and ControllerView® flagship product, its system development, professional and client support services and company operations. It also covers AxiomSL’s cloud-based solutions, operations and client support.

A fragmented patchwork of data privacy rules threatens to upend the promise of new developments in financial technology across Asia, a leading trade body has warned.
Asifma, the financial industry’s regional trade association, highlights the challenges faced by firms in grappling with a multitude of regulatory mandates and suggests that policymakers focus on broad principles rather than precise rules.

AutoRek have released an industry report which takes a deep dive into the world of data management in financial services, alongside the various factors which have grown it into a board-level concern at many firms. The paper, Investing in the Automation Revolution, was released last week in conjunction with WBR Insights.

Dozens of financial services job roles will see much of their work taken by data analytics and automation in the next few years, according to a new report from Singapore, which is preparing for the radical workforce shift with a new career training programme focused on emerging technology roles.

(Bloomberg) -- Facebook Inc. has become the first big test case for the European Union’s beefed up privacy rules as Ireland’s data watchdog opened a probe into a security breach announced last week that affected as many as 50 million accounts.

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