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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.

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 (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.

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.

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).

Central banks, clearing houses, stock exchanges, payment system providers and law enforcement agencies across Europe have joined forces on a cybercrime information sharing programme.

Central banks, clearing houses, stock exchanges, payment system providers and law enforcement agencies across Europe have joined forces on a cybercrime information sharing programme.

In its annual Sector Views report, the UK's Financial Conduct Authority warns of the growing risks to consumers in the retail banking and payments sector, as regulatory protection struggles to keep pace with technology-driven innovation and incumbents grapple with legacy limitations.

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