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From “the Blockchain” to “distributed ledger technology” – the direction of travel for insurance

[fa icon="calendar'] 18-Jul-2017 12:51:19 / by Dave Connors posted in Insurance, London Market, Reinsurance, Blog, Blockchain

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It's customary in any discussion of Blockchain to assert that there will definitely be a change to the insurance industry. We then go on to state a number of use cases unrelated or tangential to insurance (Land Title Registry, Fine Arts Ownership and Imogen Heap are the usual suspects). But the B3i initiative and other similar ventures are, at last, giving the insurance industry real examples to consider.

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A timely review of the Treasury Management System against the required standard may yield some unexpected gaps!

[fa icon="calendar'] 11-Jul-2017 17:24:52 / by David Woolcock posted in Banking, Blog, Regulation, Global Code, Compliance

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Do you have systems in place to enable adherence to the Global Code for FX?

The Global Code of Conduct for FX (the Code) was released on the 25th of May 2017, to a good reception from diverse market participants and brought the curtain down on two years of work.

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PSD2 and The Internet of Things

[fa icon="calendar'] 07-Jul-2017 06:20:00 / by Matt Townsend posted in Banking, Blog, PSD2, IoT, the internet of things

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I can remember clearly, in one of the first English lessons after moving school, we were taught certain rules. The rule that sticks in my mind today is "Never use the word 'Thing'". Using the word 'thing' in your written work will result in an instant de-merit. For some of my fellow students, this became a challenge, to try and use 'thing' and get away with it.

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Brexit and the insurance industry 1 year on...

[fa icon="calendar'] 05-Jul-2017 14:11:47 / by Dee Tshuma posted in Insurance, Reinsurance, Blog, Brexit, europe

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Here we are now - a year has passed since the Referendum and Article 50 was triggered in March by Mrs May.  It took some time but we got there eventually – a recurrent statement, used by many throughout the process, was the phrase “We have to respect the will of the people.” In this case, democracy means Brexit, and whichever side you sit on this: Patriotic or Pro EU; the show must go on!

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Modernisation

[fa icon="calendar'] 16-Jun-2017 08:36:22 / by Rebecca Oliver posted in Insurance, Reinsurance, Blog, Artificial Intelligence, modernisation, IT, legacy systems, change

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As computers have taken over the workplace, the insurance industry, along with others, now relies upon them for the basic day to day business functions. Initially, organisations began to build new systems upon existing legacy systems as processes and software evolved, but now it seems that these legacy systems may not be up to the job.

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The InsiderTech Conference London 2017

[fa icon="calendar'] 09-Jun-2017 16:34:17 / by Dave Connors posted in Insider, Insurance, Reinsurance, Blog, ILS, Insuretech, insidertech

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I recently had the pleasure of joining colleagues from across the world of insurance, technology and risk capital in attending the Insider Conference on InsurTech.

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ACI Dublin – Voice trading under MiFID II and No Free Pass for Spot FX

[fa icon="calendar'] 19-May-2017 16:49:03 / by David Woolcock posted in Banking, Blog, Regulation, Compliance, MiFID II, Best Execution

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 One of the takeaways I had from numerous conversations at the ACI Congress in Dublin, where Eurobase participated, was the question “how do we continue to offer voice trading, which is what customers want, and be compliant with MiFID II?”

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The growth of Cyber risk & the difficulties of underwriting an intangible risk

[fa icon="calendar'] 16-May-2017 17:23:15 / by Rebecca Oliver posted in Insurance, Blog, risk, Cyber, underwriting

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The recent Cyber-attack involving digital criminals asking for a ransom is proof that Cyber-crime can no longer be referred to as just a "Threat" or as a topical subject that we mention on the agenda of a boardroom meeting. It is here and it’s spreading like the plague...for all those that are less prepared.

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An alarming thought for attendees at the forthcoming International Banking Conference 2017 hosted by the Association of Foreign Banks.

[fa icon="calendar'] 04-May-2017 12:32:30 / by David Woolcock posted in Banking, events, MiFID II, AFB

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afb 2.pngIn the FT today comes the news that UK branches of foreign banks will have to adhere to whistleblowing rules that allow staff to voice concerns to City watchdogs without having to tell their employers. 

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Is FX MiFIR reporting getting any clearer?

[fa icon="calendar'] 27-Apr-2017 07:26:00 / by David Woolcock posted in Banking, MiFID, Regulation, Treasury Management, Compliance, MiFID II

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MiFID II and MiFIR in the foreign exchange world have generated much confusion. It feels like the regulations are shoehorning the FX market into regulations that are not ideal for the purpose.

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