The latest customer due diligence technology released by Fortent is designed to help banks, brokerages, credit unions, and insurance companies cut costs. Stricter customer due diligence laws in the US and around the world have forced financial institutions to increase compliance efforts in this area – leading to escalating compliance expenses at a time when the sector can least afford it. According to recent industry surveys, 60% of institutions’ direct compliance spending is in staff compensation, and with financial institutions struggling against huge losses and liquidity issues, firms are seeking ways to put the brakes on these rising operating budgets. In addition to reducing look-up times, Fortent KYC 3.2 eliminates the need for analysts to manage multiple data feeds and enables smarter risk-rating so that the riskiest customers get the most attention. Fortent KYC can be implemented at an institution in a matter of weeks, and is available also as a hosted solution, which can be up and running in three days.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more