Records retention strategies for Wall Street broker-dealers are being challenged by existing and new regulations that require an increasingly large amount of complex transactional data to be stored for longer periods. Helping to meet this challenge are new technologies that can reduce the total cost of ownership while meeting the requirements of the law.
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Embracing Financial Services Modernization Through Robotics Process Automation
Global financial services firms face an increasingly complex business and regulatory environment and are constantly in search of ways to streamline operations and reduce costs. Recently, robotics process automation (RPA) has emerged as a viable technology platform that will provide companies with an alternative to labor arbitrage to realize significant cost reductions in the automation of once manual processes.
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Reshaping the Financial Services Industry through Distributed Ledger Technology
Within the financial services and technology industry, it is hard to go a single day without hearing, speaking, or reading about blockchain and cryptocurrency technology. While it is easy to dismiss this technology as a passing fad given its meteoric rise, it is prudent to understand what it enables and how it can be applied within the financial services industry.
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The FinTech Revolution and the Capital Markets Community
Away from the regulatory spotlight, a revolution has been under way: Financial technology (‘FinTech’) firms, with a fresh outlook and a customer-centric approach, are breathing new life into the financial services industry.
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Uncleared Swaps Margin Rules (UMR) – Preparing for 2020
Projections have shown that in September 2020, the number of OTC market participants subject to the stringent initial margin (IM) regulatory requirements will explode from a few dozen to thousands of entities. The significant increase in covered entities will be caused by the average aggregate notional threshold being lowered from $750 billion in 2019 to $8 billion in 2020. Compared to the March 2017 variation margin (VM) requirements industry-wide adoption, complying to IM rules after this change will be much more complex.
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Brexit’s Impact on the Global Banking Sector
The major changes stemming from Brexit could be almost three years away, but with legal certainty around such a transition period still not finalized, global banks are moving quickly with their own internal plans to prepare for day one operational readiness. Monticello takes a look at what they’ll need to prepare for and how.
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