ECB to focus attention on bank outsourcing, legacy tech and IT board representation
The European Central Bank says EU financial institutions have an over-optimistic view of their IT resilience and resistance to cyber threats owing to an undue reliance on outsourcing and legacy wiring.
Bankdata selects Konsentus for regulatory and checking services in Denmark
Source: Konsentus
Konsentus announced today that IT Financial Services company, Bankdata, has selected Konsentus to provide Third Party Provider (TPP) regulatory & checking services to all their customers in Denmark.
ICBC implements Pintec's risk product for SMEs
Source: Pintec
Pintec Technology Holdings Limited (Nasdaq: PT) (“Pintec” or the “Company”), a leading independent technology platform enabling financial services in China, today announced an update on its cooperation with Industrial and Commercial Bank of China (“ICBC” or the “Bank”). ICBC has adopted and implemented Pintec’s SME risk management solutions for its micro- and small-sized (“SME”) lending business, further enhancing the effectiveness of its lending services for SME clients.
KfW transforms risk management operations with FIS
Source: FIS
Financial technology leader FIS announced today that KfW, one of the largest banks in Germany, has successfully completed a multi-year project to transform its risk management operations using advanced technology from FIS.
ECB warns bank to guard against IT and cyber risk
The European Central Bank is reminding banks of their vulnerability to IT and cyber-risks during the current Coronavirus pandemic.
Aegean Baltic Bank of Greece chooses Wolters Kluwer for regulatory reporting and risk management
Aegean Baltic Bank of Greece (ABB) has chosen Wolters Kluwer’s OneSumX for Regulatory Reporting and OneSumX for Risk Management as its integrated risk and regulatory reporting software solution, helping the bank to meet its Basel IV and CRD V obligations.
Basel Committee takes climate-related risk stocktake
Many national regulators are already undertaking regulatory and supervisory initiatives on climate-related financial risks, according to a BIS report, although most have not yet factored the mitigation of such risks into the prudential capital framework.
ESRB warns cyber threats pose systemic risk
The possibility of a serious cyber incident poses a systemic risk to the financial system, with serious consequences for the real economy, warns a report from the European Systemic Risk Board (ESRB).
