On July 5th 2016, the European Commission published a proposal to amend the Fourth Anti-Money Laundering Directive (AMLD4). Slightly more than one year later, the regulation marks its implementation date. As of June 26th 2017, all obliged entities will have to comply with the new framework. AMLD4 aims to mitigate the heightened risk of money laundering […]
EU’s Fourth Anti-Money Laundering Directive is Effective Read More »
After many years of discussion and consultation, the International Accounting Standards Board (IASB) published the new accounting standards for insurance contracts, also known as IFRS 17. The implementation program is set for January 1st, 2021, which gives insurers little time to prepare for the implementation of the standard. With its revolutionary scope, IFRS 17 is
Are Insurers Ready for the Revolutionary IFRS 17 Standard? Read More »
An article has been featured on one of the top leading consultancy websites where our Senior Consultant, Paul Nielsen, reflects on the growing trend towards RPA adoption across the globe, and provides an overview of the trade offs involved. The article can be found here.
Our perspective on the RPA adoption trend on Consultancy.uk Read More »
The introduction of new regulations and the proliferation of emerging technologies are changing customers’ expectations of banking products and services at the speed of light. As a result, financial institutions have to change the way they operate, and how they offer their financial services and products. In order to meet customer expectations, while at the
AML / CTF in the Customer Domain Read More »
As Robotic Process Automation (RPA) usage gathers more traction every day, its importance cannot be overlooked any longer. Slowly but surely, we are getting a glimpse into future ways of working and RPA is leading the way forward for new innovative technologies. The financial services industry is now seeing significant value in the use of
Are We Ready for RPA? Read More »
The International Accounting Standards Board (IASB) has published a new international standard for reporting financial instruments called IFRS9. The main aim of IFRS 9 is to increase the relevance of accounting provisions to transfer information from the organisation to investors and to the regulators about those events that can be reliably forecast. This will in
On the Move to IFRS9: Challenges and Implications Read More »
On February 23rd 2017, the European Banking Authority (EBA) announced the final Regulatory Technical Standards (RTS) on secure customer verification and communication. The European Central Bank (ECB) and EBA have been working closely together in order to finalise the RTS under the PSD2 regulation. The final RTS offers a strong foundation for an open and
The current Financial Services arena is being disrupted by complex innovative technology changes. One such innovation is the new Payments Services Directive 2 (PSD2). Thanks to the implementation timeframes for PSD2, 2018 will be a game-changing year for the majority of players in the Financial Services industry. Many fear the scope and impact of the
Our View on the Impact of the PSD2 Regulation Read More »
EU and U.S. regulators have ultimately defined the final follow-up steps regarding the Solvency II negotiations. The agreement relates to ensuring consumer protection and to contributing to a heightened regulatory certainty for insurers and reinsurers active in the EU and U.S. zone. The Solvency II reconciliation paper comprises of three areas which are significant to
EU and U.S. Find Middle Ground on Solvency II Equivalence Read More »
Santander leaving the R3 Blockchain technology consortium is another sign that Blockchain is approaching the ‘Peak of inflated expectations’. Every financial institution has initiatives or Blockchain proof of concepts in progress but industry wide adoption will only be established when the ‘Through of Disillusionment’ phase in the Hype Cycle is passed. Gartner Inc’s ‘Hype Cycle
The Peak of the Hype Cycle of Emerging Technologies Read More »