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Financial Services

Technology and Global Transfer Agency

here We hear much of the latest and greatest technologies within the Financial Services industry and even Transfer Agency is not immune to these fashion, fads &...

here We hear much of the latest and greatest technologies within the Financial Services industry and even Transfer Agency is not immune to these fashion, fads & changes (see Is Blockchain a disruptor or enabler for Transfer Agency?). Each coming new technology offers the opportunity for Transfer Agency and Fund Distributors to address servicing dilemmas for Investors and Asset Managers. Despite recent bouts of doom and gloom around the existence of Transfer Agency, we see...

Fintech APRO Cloud Solutions Delivers Embedded Treasury Banking to ERP Cloud Customers on Oracle Autonomous Cloud

Blog co-authored with Geert Mouwen from APRO Software Solutions One of the concerns of companies considering a move to Oracle ERP Cloud is their existing bank...

Blog co-authored with Geert Mouwen from APRO Software Solutions One of the concerns of companies considering a move to Oracle ERP Cloud is their existing bank treasury connectivity. Many companies have gone through extensive processes with their banks building and testing formats and setting up connectivity, often resulting in completely customized solutions. These projects have taken a lot of time, money and effort to complete and to maintain. Understandably companies are...

The Future of Financial Services: 3 Technologies Poised to Change Your Experience

If you think about it, financial services have traditionally been disconnected from their customers’ goals. For instance, when we want to buy a vehicle or...

If you think about it, financial services have traditionally been disconnected from their customers’ goals. For instance, when we want to buy a vehicle or house, or purchase inventory for a manufacturing process, we typically begin by researching and evaluating our options, then making a purchase decision. Only then do we look at the financial services necessary to complete the transaction. But financial services companies today are already well on their way to changing this...

Simple, Digital, Transparent & Efficient

Small to medium businesses are the foundation for the global economy. They represent a substantial potential revenue source for banks. Yet this critical...

Small to medium businesses are the foundation for the global economy. They represent a substantial potential revenue source for banks. Yet this critical customer segment is many times overlooked by banks having them switch between their Retail and Commercial divisions. Most small businesses are still not satisfied with how banks are addressing their specific financial needs. Small to medium businesses are demanding a better banking experience ~ Simple, Digital,...

Integrated Case Management – A Game Changer for Smaller Banks Fighting Financial Crime

Smaller banks are equally vulnerable to financial crime just like large multi-jurisdiction banks – thus exposing them to greater regulatory scrutiny. This has...

Smaller banks are equally vulnerable to financial crime just like large multi-jurisdiction banks – thus exposing them to greater regulatory scrutiny. This has led to increased investment in financial crime & compliance programs such as Know Your Customer, transaction monitoring & case investigation. Increased regulatory expectation has amplified the costs and burden of compliance management – and the challenge is surely greater for smaller banks. “Basic” Anti-Money Laundering...

Can Blockchain Block Money Laundering?

Blockchain has been touted as the solution to replace the many ageing processes powering financial services and it may just be the answer to stop money...

Blockchain has been touted as the solution to replace the many ageing processes powering financial services and it may just be the answer to stop money launderers and financial criminals in their tracks. What is blockchain? Blockchain is a sequential distributed and encrypted database found in cryptocurrencies derived from Bitcoin. It has become a tool for maintaining transparent and distributed ledgers that can verify transactions, including financial ones, with minimal...

Transnational Financial Crimes Cost Banks up to $2.2 Trillion

Financial crime has existed for as long as money has. Although we’ve come a long way from hiding grain underground, but financial criminals still follow the...

Financial crime has existed for as long as money has. Although we’ve come a long way from hiding grain underground, but financial criminals still follow the same principle of anonymity and hiding. Transnational financial crime is good business. A recent article by Global Financial Integrity, reported that it is valued to be between US$1.6 trillion to US$2.2 trillion in 2017 11 different markets. The report took a closer look into several groups, including the FARC...

Free Trade Zones: A Financial Fraud Freeway?

We’re not saying free-trade zones (FTZ) are a hotbed of financial crime. But given its duty- and tax-free status, these jurisdictions tend to attract money...

We’re not saying free-trade zones (FTZ) are a hotbed of financial crime. But given its duty- and tax-free status, these jurisdictions tend to attract money laundering, terrorism financing and other criminal activities, in addition to legitimate businesses. Blind Men and the Financial Crime Elephant The scope and degree of Customs control over the goods introduced, and the economic operations carried out in FTZs, vary from one jurisdiction to another. Goods introduced in a...

The critical role of DATA in improving ‘turn-around times’ in SMB Origination

The average ‘Time to Decision’ for small to medium business (SMB) origination within traditional banks ranges anywhere between 5 days to 1 month depending on...

The average ‘Time to Decision’ for small to medium business (SMB) origination within traditional banks ranges anywhere between 5 days to 1 month depending on the loan size and complexity of the deal and ‘Time to Cash’ anywhere between 25-55 days. In a world where SMB’s are demanding funds fast, these time-frames are unacceptable. Banks must focus on how to reduce ‘turn-around times’ and deliver a better end to end experience to both customers and staff. What role does data...