As mobile technologies gain ground, they will challenge incumbent systems and practices. A case in point is a new app for the iPad created via a version of a portfolio management system that has mobile reporting capabilities. The easier and more timely access to middle and back office data will test the conventions about front,… Read More >>
Time to Disrupt Your AML System?
Anti-money laundering (AML) for financial services firms is evolving as they broaden their usage of the behavior detection at the heart of AML and begin to consolidate AML and anti-fraud platforms. Firms may also see their governments refine AML and related policies as a result of the latest recommendations of a standards body urging countries… Read More >>
The Cyber-Attacks Are Getting Worse
As I predicted in previous postings, the cyber-attacks have gotten worse. Earlier this week, “hacktivists” slammed the websites of Nasdaq OMX, Bats Trading, the Chicago Board Options Exchange and Bursa Malaysia, causing outages although trading systems were spared. These latest attacks make clear that financial centers can no longer ignore these threats and that they… Read More >>
Welcome to Clawback Season
In theory, we are in bonus season. But it’s looking more like clawback season as banks give bonuses more in line with performance. A case in point is UBS, which for the first time in its history is taking back part of the bonuses slated for its investment bankers, according to a report in the… Read More >>
Justified Paranoia?
My paranoia last month may have been justified. I wrote about the Occupy London protesters wanting to camp out near the London Stock Exchange (LSE) and the cyber-attacks between Israeli and Arab hackers as harbingers of more trouble to come. It looks as if not only was I was right but there needs to be… Read More >>
The Cyber-Battles Have Begun
Call me paranoid but I see a more troubling cyber-battle brewing in the Middle East than in Washington, DC where pending anti-piracy legislation caused Wikipedia to take a day off. Israeli and Arab hackers have been attacking the websites and systems of stock exchanges, among other targets, and I worry it’s a harbinger of things… Read More >>
