In the same way technology is changing the financial services industry, technology is also changing how the industry and supervisory authorities implement and enforce regulations.Today, an increasing number of supervisory authorities are turning to technology to support their work, leveraging so-called supervisory technology (suptech) applications to digitize report and regulatory processes. What is Suptech?Suptech refers to...
LONDON (Reuters) – Risks related to political developments in the U.S. have emerged as the main economic concern for central banks, alongside trade wars and a global slowdown, according to a UBS survey. Further disruptions of major economies by the COVID-19 crisis, including new shutdowns, were expected by a total of 42% of respondents to...
The majority of financial institutions have or are developing a cloud strategy, and most are already making some use of the cloud. There are a number of reasons why the cloud is an attractive alternative to running your IT in the traditional manner of owning and operating in-house data centres, including: reduced costs, and costs...
The Global Risk Institute Published “An Overview of FinTech in Canada” this month. It is a very interesting review of the state of the Canadian FinTech market with broad implications for the financial services industry and for its regulators. Every jurisdiction, and Canada is no exception, seeks to gain economic leverage and future technology investment...
“Knock knock” jokes can be funny, but if the regulator knocked on your door today, would you be smiling? If you were asked to prove exactly what an individual customer saw and did on your website, at a specified moment in time, could you? How long would it take, and how confident are you that...
Compliance is king in financial services The regulations faced by the banking industry are so layered and complex that they can often seem impossible to keep track of. Given the ever-evolving regulatory landscape, it can be difficult to ascertain whether an investment is going to result in a profit or cost several times its worth in...