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...
First some definitions: FinTech is the application of digital technology like software and hardware to improve the efficiency, effectiveness, and scope of financial services. These solutions can be applied to traditional financial services and create opportunities for new services and business models for Financial Institutions. SupTech is the application of digital technology like software and hardware to improve the efficiency,...
Technological advancements are inevitable. From the first stone tool, the discovery of the uses of fire, forging metals, farming, the Industrial Revolution to the information age; we have been consistently inventing tools to make our lives easier. Artificial Intelligence is one such tool. The term ‘Artificial Intelligence’ was first coined in 1956 by a Dartmouth...
It was a big year for FinTech in 2017 – and 2018 is shaping up to be every bit as exciting. Here are some FinTech predictions for 2018: 1. Bitcoin and cryptocurrencies – here come the institutional investors? Many records were broken in 2017 by Bitcoin and other cryptocurrencies. Not only did they achieve record high prices,...
The New York Society of Security Analysts’ (NYSSA) Financial Reporting and Analysis Group hosted a program on using XBRL formatted structured SEC corporate data filings to expedite and ease financial reporting and analysis. Panelists were Mohini Singh (CFA Institute), Todd Castagno (Morgan Stanley), Pranav Ghai (CalcBench), Hal Schroeder (FASB), Mike Willis (Securities and Exchange Commission), Mark Montoya (FDIC),...
“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...
RegTech is the emergence of new technologies in the regulatory space is offering financial services institutions growing possibilities to reduce costs and improve the quality of its regulatory response process, says Elmo Olieslagers, Managing Partner of Compendor. The financial services industry continues to face a growing volume of regulatory change, as both international and domestic...