NICE Actimize, a provider of financial crime, risk, and compliance solutions, has embraced generative artificial intelligence (A.I.) for three new solutions that target financial crime in ways intended to help overwhelmed financial crime and fraud teams at financial services firms, officials say. Generative A.I. are algorithms “that can be used to create new content, including… Read More >>
Time to Buy Not Build an OMS?
(Global banks and other sell-side firms face “a technological fork in the road” when it comes to order management systems (OMSes), according to a recent report, “The Future State of Global OMS,” from market research firm Datos Insights. “Sell-side firms … will need to reevaluate the value proposition of their existing OMS architecture and determine… Read More >>
How to Survive the Recordkeeping Crackdown
The Securities and Exchange Commission’s (SEC) December 2021 announcement that J.P. Morgan Securities LLC had been fined $125 million for allegedly violating the agency’s recordkeeping rules amounted to a shot heard up and down Wall Street. The market regulator made clear that it took breaches of recordkeeping regulations seriously, and that the J.P. Morgan penalty… Read More >>
FinTech Brief: CAIS Expands Collaboration with Pershing
CAIS, an alternative investment platform for independent financial advisors, has expanded its relationship with the Pershing clearing, custody, and wealth management services division of BNY Mellon. The expansion was announced late last month “after the launch of CAIS Solutions, a new SaaS [Software as a Service] platform,” which applies CAIS technology to centralize and streamline… Read More >>
A Climate Data Platform Prototype Debuts at COP28
Inadvertently, I have stumbled upon another climate-related bit of news. This time it’s about the Net-Zero Data Public Utility (NZDPU), described as “a unified, global, open climate data repository” whose information can be used by many sectors including financial services. A variety of securities firms would welcome free, reliable data about the climate change efforts… Read More >>
Firms Embrace A.I. to Fight Financial Crime
A recent report finds that artificial intelligence (A.I.) technologies are not taking jobs from anti-money laundering (AML) professionals and that 86 percent of financial services professionals polled intend to increase their spending on A.I.-based technologies. In fact, the report, “Technology Transformation in Financial Crime Compliance,” from solutions provider WorkFusion and market research firm Celent, finds… Read More >>
GoldenSource Debuts Risk Factor Service for OTC Derivatives
GoldenSource, a provider of enterprise data management (EDM) systems, has launched a service that offers investment banks “a single risk factor taxonomy” for market rates used to price over-the-counter (OTC) derivatives instruments, officials say. The new Curve Master Definitions taxonomy service is intended to help banks “comply with market risk regulations and auditability requirements, including… Read More >>
Asset Owners Struggle to Move Beyond Spreadsheets
Pension funds, public funds, sovereign wealth funds (SWF), superannuation funds, endowments, and life insurance companies want to move away from spreadsheets and internally developed solutions used for portfolio management and asset allocation but IT complexities coupled with a shortage of expertise are thwarting their attempts to complete their digital transformations. This is according to the… Read More >>
SS&C’s Black Diamond Gets CRM Module & Other News
SS&C Offers CRM via Managed Services SS&C Technologies has integrated a customer relationship management (CRM) module into the SS&C Black Diamond Wealth Platform that offers managed services that are intended to reduce IT maintenance burdens, officials say. The Black Diamond CRM module “complements SS&C’s existing CRM solutions, Salentica Elements and Salentica Engage,” and will provide a… Read More >>
Crypto Assets May Get ISINs & Other News
ANNA & DTIF Sign an MOU Two key standards bodies are paving the way for a “phased introduction” of new International Securities Identification Numbering (ISIN) tags for crypto assets — an effort that is intended to bring more transparency to securities and crypto markets. The ISINs to come would create a “mapping between financial assets… Read More >>
