Financial Services Blog Quarterly Roundup
By Gaurav H-Oracle on Feb 10, 2014
First of all thank you for tuning into the FS Blog. Our readership has grown exponentially over the last year mostly thanks to your continued interest. We now cover a variety of topics on the FS Blog from big data and analytics to customer experience and core transformation within banking. Here is an introduction to some of the trending topics in the New Year and insights on them from our business and product leaders.
Risk, Regulations & Compliance
In Risk Data Aggregation & Risk Reporting: Will You Be Compliant With BCBS 239 Principles In Time?, Zia talks about the latest survey results from BIS and Systemically Important Banks’ (SIB) readiness to become compliant with the BCBS 239 principles by 2016. The Basel Committee publishes best practices around money laundering trends as well and has recently released issued a set of guidelines, "Sound Management of Risks Related to Money Laundering and Financing of Terrorism" describing how banks should include the management of risks related to money laundering and financing of terrorism within their overall risk management framework. In Tackling The New Basel Committee Guidelines on AML/FT Risk Management Matthew Long, our resident Financial Crime expert lays out steps that you can use to tackle these guidelines. Closer to home the U.S. Department of Treasury has also enhanced the requirements for anti money laundering (AML) surveillance. Don Ryu elaborates on why there has been renewed interest in AML solutions and a fresh wave of implementations recently in New Regulatory Measures Against Money Laundering: Are You Ready?
Banking Transformation and the Role of Technology
While there has been a renewed focus on risk and regulatory issues since the 2008 crisis, in reality the whole landscape of financial services is changing. In “Can’t Get There From Here”: 4 Key Ways Retail Banking Transformation Can Help, David points out that banks should be realistic in aiming for Return on Equity (ROE) ratios that were the norm before the crisis. He spells out 3-4 ways of how transforming your retail banking operations and the underlying IT can help. Almost all industry analysts have opined that the retail banking industry in the US and other developed nations is ripe for transformation. Consumer behavior as it relates to banking is rapidly changing and in Lonesome George - 3 Key Survival Lessons In Modern Banking, Aubrey points out why banking needs to learn from other industries in this respect and make the right investments to keep chugging on the growth path.
Popular Topics on the FS Blog
As we move along into 2014 I also wanted to highlight some of the blog posts which still continue to remain popular just in case you missed them the first time around.
- Bank Payment Obligation: The New Global Standard for International Trade from SWIFT & ICC
- Use Cases For Unlocking Big Data’s Potential In Financial Services: 3 Steps to Success
- The Virtues and Challenges of Implementing Basel III: What Every CFO and CRO Needs To Know
- Small Banks Lead the Innovation Agenda: Are They Making the Elephants Dance?
- FATCA Compliance - Boon Or Bane for Foreign Financial Institutions ?
I hope you will continue to find these blog posts useful and provide your feedback as well. You can reach out to me on twitter @ghanda or email me at gaurav.handa AT oracle.com. For more information on how Oracle can help you with your business challenges just point your browser to www.oracle.com/financialservices or email us at fsmarketing_ww AT oracle.com