Friday, 24 February 2017
The HKMA’s quantitative impact study (QIS) on the modified net stable funding ratio (MNSFR) is the third of its kind and part of a broader, multi-year consultation exercise on NSFR’s local implementation. While previous studies targeted so-called ‘category 1’ institutions - generally larger, internationally active banks - that will be subject to the full force of NSFR requirements, this study will gauge the ability of smaller category 2 banks to adhere to MNSFR, essentially a less stringent ‘NSFR light.’
Wednesday, 22 February 2017
Fast-forward 5,000 or so years, and though the types of friction we are seeking to reduce have become a little more nuanced, the excitement of a new discovery is just the same. It’s what makes FinTech such an exhilarating industry to be a part of, as such discoveries and innovations are increasingly prolific. ‘Friction’ in our industry usually refers to the time taken to make payments, and ‘frictionless payments’ are those transactions that can be completed in an instant.
Friday, 10 February 2017
While substantial progress has been made it also shows there is still room for improvement. And this is especially true when it comes to digital sales. For example, retail banks are behind when it comes to the sharp rise in smartphone use, and the potential for mobile as a sales channel. Despite the availability of online digital applications, only 9% of personal banking products in the UK can be applied for using a mobile device. With two-thirds of UK adults now owning a smartphone, there is every reason to forge ahead in this area.
Thursday, 5 January 2017
Outsourcing will get smarter
Deloitte’s Global Outsourcing Survey revealed that not only is the use of outsourcing increasing, but attitudes among banks about how they engage with outsourcers is also on the move. Once seen as merely a cost-cutting approach – and make no mistake, this remains a significant motivator – service providers have widened their offerings to provide end-to-end solutions that offer a far greater depth of service support than before. More than ever before, outsourcers are becoming key business enablers that actively promote innovation. This is a key trend that will continue to shape the industry in 2017.
Tuesday, 20 December 2016
As I’m sure you’re aware by now, IBS Intelligence has become a division of Cedar Management Consulting International, a leading global management and technology consulting practice. So, new owners, new Senior Editor, new Senior Reporter (congrats to Alex Hamilton who was recently promoted from the position of Reporter) and also this year IBS Journal underwent a major redesign. Out went the front cover stories, replaced by a more modern take on the magazine’s contents. And in came a number of new sections, with an increased focus on FinTech, including Startup of the Month (which has proved to be particularly popular), The Big Interview, Who’s Been Saying What? and The Month in Numbers. Some of our rivals have ditched their printed editions, but here at IBS Intelligence the magazine continues to be a major part of who we are.
Friday, 2 December 2016
Every little helps when it comes to controlling the financial system, but Giles Kenwright of Delta Capita explains why the Tesco cyber-attack will hopefully trigger banks and regulators to look at the bigger compliance picture
A cyber-attack that wiped £2.5 million from a major supermarket’s client accounts in just a few hours, should ring alarm bells across the boardrooms of Britain’s biggest banks. While the damage to Tesco’s brand reputation may be substantial, more significant still is that this attack could be a sign of things to come for the wider banking sector.
It is not as if the major players have been burying their heads in the sand. Eight of the largest firms, including JP Morgan, Bank of America and Goldman Sachs, teamed up earlier this year to tackle the growing cyberthreat. While still in its infancy, the group is already sharing information with eachother about where future threats could materialise. The trouble is that, at the same time, these conglomerates are entangled in the weeds of other regulatory issues, which is eating into time that could be spent developing a longer-term plan to tackle cybercrime.
Wednesday, 30 November 2016
The complexity of the investment management industry is growing and the data that needs to be analysed is richer than ever before. This is a consequence of the thinning geographical boundaries within portfolios and the search for alpha that drives managers to incorporate different and more esoteric asset classes within a single portfolio.
The impact of this changing environment has been a resurgence in the industry's use of the Investment Book of Record (IBOR), a central and comprehensive source that tells the complete story of a firm's portfolio activity. An IBOR provides a timely view of a firm's exposures, portfolio positions and cash. The fullness and clarity of the picture it paints means that it provides the intelligence and insights on which many portfolio decisions are made.