Wolters Kluwer Financial Services, which has more than 15,000 financial sector customers worldwide, has acquired rival FinArch. It said that the combined company could provide financial institutions with better control and insight of their financial data, and ultimately, a clearer enterprise view and enhanced management of their risk and performance.
Wolters Kluwer added that since the financial crisis, institutions globally have recognised the need and value in the convergence of risk and finance, requiring high-quality data and integrated data management. Organisations now also face added pressure to have a better enterprise view of risk and financial management at a time when the regulatory and business environment is incredibly dynamic.
“By better harnessing the power of their data across all asset classes, financial organisations can more effectively manage risk and financial performance, and help ensure regulatory compliance while reducing costs and increasing operational effectiveness,” said Brian Longe, chief executive officer (CEO) of the Wolters Kluwer financial and compliance services division.
Using data for predictive analytics is the future of banking success, argued Jean-Laurent Bonnafé, CEO of BNP Paribas, in his session on how the bank is reinventing its approach to innovate with and for corporates.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
Kicking off day two of the Singapore Fintech Festival, Deloitte Chairman David Cruikshank said that fintech is significant for three reasons. First, customer expectations of services are higher than ever. Second, barriers to entry are lower than before. And finally, financial institutions (FIs) face a threat of what a competitor might do.
Technology will drive the innovation in banking: Damian Richardson, head of payments strategy & innovation at NatWest
At this year's Sibos conference in Toronto, digital finance reporter, Alara Basul, sat down with Damian Richardson, head of payments strategy and innovation at NatWest to discuss how technology is driving innovation in banking.