Blog

Regulatory Reporting and FX Swaps. Or is it FX Strats. Or even FX Packages?!

[fa icon="calendar'] 02-Jun-2020 08:18:11 / by David Woolcock posted in MiFID, Regulation, FX, FX payments, regulatory reporter, MiFIR, Banking Regulation, ESMA, fx swaps

[fa icon="comment"] 0 Comments

We have been seeing a lot of discussion and interest concerning a blog I penned in March last year  under the title of “Beware the Ides of March - A Drama of FX Swaps Reporting”.

This March, we had a Consultation from ESMA, nattily entitled, “MiFID II/MiFIR review report on the transparency regime for non-equity instruments and the trading obligation for derivatives”, which may equally be causing this issue to be re-visited. 

Read More [fa icon="long-arrow-right"]

Are mobile payments a challenger? Ding-Ding, Round two!

[fa icon="calendar'] 01-May-2020 07:55:14 / by David Woolcock posted in Banking, Payments, PSD2, Banking Regulation, APIs, SWIFT, PRA, challenger banks, Growth

[fa icon="comment"] 0 Comments

In my last bloglooking at the rise of the challengers to the traditional banking industry, I stated “these ‘lightweight’ contestants in the banking market have harnessed new technologies and processes to deliver a better customer experience.” The blog elicited a comment from Kevin Gillespie when posted on LinkedIn – You missed the entrance of mobile phone companies in payments ... mPesa in Kenya is 45% owned by Vodafone and operates payments in Romania on the same platform ... the new competitors may not even bother to get in the ring and still win the fight as they invent new ways of exchanging value”.

Read More [fa icon="long-arrow-right"]

Lightweight versus Heavyweight – will it always be a foregone conclusion in the ring?

[fa icon="calendar'] 16-Apr-2020 09:17:58 / by David Woolcock posted in Banking, Payments, PSD2, Banking Regulation, APIs, SWIFT, PRA, challenger banks, Growth

[fa icon="comment"] 0 Comments

Since the Global Financial Crisis (GFC) the banking industry, especially in the UK, has experienced significant growth with the advent of the “Digital Challenger”. These lightweight contestants in the banking market have harnessed new technologies and processes to deliver a better customer experience.

Read More [fa icon="long-arrow-right"]

Business Continuity from Test to Implementation - What will be the takeaways?

[fa icon="calendar'] 26-Mar-2020 19:41:46 / by David Woolcock posted in Banking, Global Code, FCA, Banking Regulation, COVID19, coronavirus, SMCR

[fa icon="comment"] 0 Comments

We have seen many crises in the past, but this one is in many ways unique and I cannot recall a similar set of circumstances in my 43 years in markets. Financial crises have been global before but have originated within the financial system. Natural disasters have been localised as has dislocation due to terrorism and wars. This pandemic is unique as it is the first time we have seen such dislocation in so many countries at the same time. All financial centres are going through unprecedented emergency implementation of disaster planning activation.

Read More [fa icon="long-arrow-right"]

Home Alone

[fa icon="calendar'] 20-Mar-2020 16:50:47 / by David Woolcock posted in Banking, FCA, SFTR, LIBOR, Banking Regulation, ESMA, COVID19, coronavirus

[fa icon="comment"] 0 Comments

It is unprecedented in Financial Markets (at least in my memory!) to have so many people working from home globally. We have previously seen localised examples such as on Wall Street after the tragic event of 9/11, but nothing on this global scale. As firms dust off the business continuity plans, some are hitting problems such as systems not allowing remote trading. This requires a tweaking of rule books and system settings. For those deploying a unified, modular platform, the task is somewhat easier when suddenly so many core staff are working from home as any system changes can be made once, and once only. 

Read More [fa icon="long-arrow-right"]

Three ways to keep in contact throughout self-isolation and social distancing

[fa icon="calendar'] 19-Mar-2020 10:05:50 / by Kathryn Ellis posted in Insurance, Banking, risk, Risk Management, Self-care, Self-isolation, Social-distancing, COVID19, coronavirus

[fa icon="comment"] 0 Comments

We are living in an unknown world at the moment. 

Unknown for our day-to-day working life, unknown for our health, for our relatives , for our holidays and for our immediate future. 

Read More [fa icon="long-arrow-right"]

Libor Wars - Coming to a Screen Near You

[fa icon="calendar'] 06-Mar-2020 15:42:16 / by David Woolcock posted in Banking, LIBOR, Banking Regulation

[fa icon="comment"] 0 Comments

Buried in the depths of the Communiqué from the G20 Finance Ministers & Central Bank Governors Meeting on the 23rd of February was a stark call to arms regarding LIBOR transition. Building on the comments from National Competent Authorities (NCA) came a clear G20 statement: 

Read More [fa icon="long-arrow-right"]

2 key changes that may redefine how insurers access the London Market

[fa icon="calendar'] 28-Feb-2020 13:47:15 / by Ray Johnston posted in Insurance, London Market

[fa icon="comment"] 0 Comments

Unsurprisingly, the Future at Lloyd’s took centre stage at this year’s TINtech London Market event. Many were struck by the scale of the proposed changes and what these meant for the market as a whole. From the talks and workshops that I attended, I have picked two key changes that will not only innovate but may redefine how insurance professionals access the market.  

Read More [fa icon="long-arrow-right"]

The electronic world of deal rejection

[fa icon="calendar'] 20-Feb-2020 16:17:49 / by David Woolcock posted in Banking, Blog, TMS, Global Code, Treasury Management, Treasury, FX, FX payments, Digitalisation, deal, last look

[fa icon="comment"] 0 Comments

It would have been one thing pondering on how to deal with a misdirection of Cupid’s bow recently on St. Valentine’s Day. But, instead, how do your customers react, when attempting to book a deal on-line, when a quoted price is rejected? It can often lead to confusion and leave a negative feeling if not properly understood as to why it occurred.

Read More [fa icon="long-arrow-right"]

An unanswered question from Davos.  When will we activate Digital Currencies in our Treasury Management Systems?

[fa icon="calendar'] 07-Feb-2020 18:57:04 / by David Woolcock posted in Banking, Blog, TMS, Treasury Management, Treasury, Digitalisation, cryptocurrencies, Cyber Security, digital currency

[fa icon="comment"] 0 Comments

We saw during 2019 increased interest in various projects for a Central Bank Digital Currency (CBDC) launch as a recurring theme. CBDC is a digitised sovereign currency, created and issued by, and a liability of, the country’s monetary authority. As such they are viewed as legal tender which is a core difference to cryptocurrencies and stablecoins. Those who made it up the Davos slopes to the World Economic Forum (WEF), were met with ideas and discussions taking place on how CBDC could be a potential solution to multiple challenges, including financial inclusion and efficiencies in the global payment systems.

Read More [fa icon="long-arrow-right"]

Robotic Process Automation explained

[fa icon="calendar'] 03-Feb-2020 10:39:09 / by Ray Johnston posted in Insurance, London Market, risk, Risk Management, innovation, TINtech, Lloyd's, The future at Lloyd#s, cost, RPA, HAL, emerging technology, robotic process automation

[fa icon="comment"] 0 Comments

In the optimistically titled film ‘2001’, Stanley Kubrick introduced a world where AI (in the form of the cycloptic HAL-9000) was entrusted with the critical functions of a spaceship. HAL was considered infallible by its human masters. However, confused by conflicting priorities and orders, this led to unexpected behaviour and conflict.

Read More [fa icon="long-arrow-right"]

6 Applications of AI for your Sales Desk

[fa icon="calendar'] 29-Jan-2020 06:00:00 / by Matt Townsend posted in Banking, Blog, Artificial Intelligence, AI, Sales Desk, RPA, Customers, big data

[fa icon="comment"] 0 Comments

CTO's, Product Directors and all varieties of tech gurus are eager to find use cases for AI under their remit; capturing a market or increasing their profile within their businesses. What they/we risk doing is artificially creating use cases that do not benefit the organisation, users or customers. 

Read More [fa icon="long-arrow-right"]