Until now, banks have managed their payment and settlement obligations based upon end-of-day forecasts, but from January 2015 the Basel Committee on Banking Supervision wants to see banks monitoring their balances intraday. Frances Faulds reports on how the industry is adapting to this fundamental change to reduce operational risk.
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Kenya’s Equity Bank is determined to launch a new mobile banking product that has the potential to shake up an industry dominated by the creator of M-Pesa, Safaricom. Experts say that while Equity could present serious long-term competition for Safaricom, it has its work cut out.
Coding is the new rock 'n' roll, as shown by the likes of Mark Zuckerberg and Jack Dorsey. Now banks are getting in on the act, with the competition to attract the next generation of 'rock stars' hotting up.
Brian Caplen talks to chief executive of the Society for Worldwide Interbank Financial Telecommunication (Swift), Gottfried Leibbrandt, about changing technology, the impact of regulation and the society’s ‘incremental and gradual approach’ to its initiatives.
From financially motivated cyber crime to politically influenced cyber warfare, the virtual threats to financial institutions are multiplying. Companies must respond by arming themselves against such attacks or else they risk losing their footing on the new digital battleground.
Our first Technology Projects of the Year awards focus on the teamwork and collaboration needed to get a technology project off the ground.
The winners show that from the smallest of start-ups to the largest of lenders, the innovative spirit is strong in the global financial markets.
Banks are facing a digital revolution that may become rule of law if European Commission proposals on account access are passed. With new entrants on the inside track when it comes to technological advantages and banks at risk of becoming the 'dumb pipes', some lenders are rising to the challenge, while others simply do not get it.
Those looking towards digital behemoths such as Google, Amazon, Facebook and Apple as the companies most likely to shake up the financial world are way off the mark.
Largely thanks to its innovative new solution for on- and off-exchange reporting, pan-European exchange BATS Chi-X Europe has seen its market share balloon in recent months. But, aware of the dangers of complacency, chief operating officer David Howson says that the firm is just as focused on further innovation as on growth.
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