The cost of regulatory change within the financial sector has increased massively in the past decade. In addition to huge fines hitting the sector for non-compliance, the cost of merely implementing and maintaining the more far-reaching regulations can run to…
Reducing Risk Early in Regulatory Change Projects Within the past decade, the volume, complexity and pace of regulatory change in the financial services sector has dramatically increased. Organisations find that their standard change cycle of iterative cycles of interpretation and…
As organizations implement analytics to detect or predict problems, they quickly realize that prediction itself solves only half the problem. Analytics tells you about anomalies and the probability that a problem will occur imminently. But predictive analytics doesn’t help determine…
Technology departments have become very adept ‒ when provided with detailed, unambiguous and verified requirements ‒ at producing working code delivered in sophisticated architectures. Converting bullet-proofed requirements into value is faster than ever with methodologies, such as Agile, and technology…
Financial services providers are under increasing pressure to address regulatory inadequacies in their client onboarding processes. A recent instance of failure resulted in the largest ever fine imposed by the Financial Conduct Authority (FCA) in the UK, when Deutsche Bank…
How can retirement services companies, employers and employees be confident that a retirement system is accurately calculating employee eligibility, break in service (BIS) rules, vesting periods, contributions, employer match amounts, or profit sharing contributions? Assuming they know the answer to…
As if implementing 2,300 pages of regulatory framework weren’t difficult enough, U.S. financial institutions are now facing possible amendments to the Dodd-Frank Financial Wall Street Reform and Consumer Protection Act following the election of President Donald Trump. Even today, six…
My last blog post discussed the steep costs of financial compliance for Australia’s wealth and credit management compliance industry, as well as the solution to this problem: decision management. The Benefits of Decision Management For heavily-regulated consumer financial services and…
“Some British banks aggressively sold ‘ineffective and inefficient’, but highly profitable, payment protection insurance (PPI) for more than a decade,” according to The Guardian. These compliance breaches, which resulted in billions of fees to clients who were mis-sold products, highlight…
Audi, Volkswagen’s luxury brand, is recalling more than 576,000 vehicles in the U.S. for two separate defects, according to an AP Wire Report. Audi says 2013-2017 model year A5, A5 Cabriolet and Q5 SUVs with 2.0-liter turbocharged engines may have…
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