You may have heard of bitcoin and even own some form of digital cryptocurrency or bitcoin Exchange-traded Fund (ETF) launched recently. Cryptocurrency is shaking up the financial world by making it possible for parties to exchange money without the need for intermediaries like banks and exchanges. However, you may not be as familiar with blockchain, the technology that underlies cryptocurrencies and is increasingly being used in ways that range from trading, lending, payment, contract management, and inventory management in the supply chain.
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Breaking Down Complexity to Initiate a Project
Organizations routinely launch ambitious change projects that are inevitably riddled with complexity. A digital transformation of the front-to-back customer experience, the introduction of a complex testing program impacting multiple systems, or a new regulation that requires legal entity restructuring, to name a few. Such immense projects can seem overwhelming given the various intricacies involved and the seemingly endless roadblocks.
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The Future of Loan Operations at Global Financial Institutions
Over the last 25 years, the wholesale lending market has seen a tremendous uptick in change, innovation, and growth within the global financial services sector. Once a straightforward business model of borrowing and lending (i.e., ‘traditional lending’), is now multifaceted. In today’s market, trillions of dollars in loans are underwritten, traded, and used for hedging purposes globally every year.
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Achieve Data Management Success through Data Quality
Digital transformation has gradually become a priority in the financial services industry over the past two decades, and business interruption due to the Covid-19 pandemic has served only to accelerate it. With digitization, data has become the backbone of the financial system. Financial institutions have put great focus on adapting data architecture and business strategies to the changing economic environment and to innovative technologies over the past few years.
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Mitigate Compliance Risks and Improve Internal Controls Using Natural Language Processing
Staying compliant with regulations is paramount to institutions and a top priority for C-suite executives. Financial institutions, in particular, are frequently under regulatory scrutiny from their jurisdictional regulators such as the Securities and Exchange Commission (SEC), Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and Federal Reserve Board (FRB) in the U.S. These regulators continue to reinforce core banking governance, risk management, capital adequacy and liquidity management regulations (i.e., Dodd-Frank) implemented in the wake of the global financial crisis in 2008.
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Managing Cyber Risk with a Practical Approach to Investment and Implementation
Despite the ongoing economic impact of the pandemic and the consequent impact on many company’s budgets, cybersecurity budgets continue to grow. While the increase in investment may buck the overall trend in corporate spending, it’s a necessary response to a threat that escalates seemingly by the day. Will the latest round of investments to enhance cybersecurity be enough to keep up with 2020’s leap forward in both digital transformation and cybercrime?
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