Increased visibility for customers means banks must ramp up risk mitigation

On Wednesday 15th August, the Financial Conduct Authority (FCA) will enforce new rules requiring providers of personal and business accounts to publish information that will help current customers to compare bank accounts from different providers. Banks will have to report major operational and security incidents that have taken place and disclose whether 24-hour customer helplines are available.

 Auditchain™  is developing the world’s first Decentralized Continuous Audit & Reporting Protocol Ecosystem™  for enterprise assurance, reporting and disclosure. Its team of renowned names in blockchain, accounting and assurance seek to take traditional financial reporting practices to the next level.

Miles Software, the Global Fintech giant in the Wealth, Asset, Portfolio management and Custody business, today announced the strategic partnership with SBM Bank (Mauritius) Ltd (SBM) and SBM (NBFC) Holdings Ltd to launch their flagship technology platform, MoneyWare, across the bank and the NBFC.

Recently, Gen Market Insights released its "Global Face Recognition Device Market Research Report 2018", which surveyed the market conditions of global face recognition devices. According to the report, China is the largest market for face recognition, and the China AI giant Cloudwalk ranks 1st in the world for its face recognition market share.

How does one recognize and distinguish the serious innovation? What separates real innovators from those which aren’t so serious about it? The true innovators are actually able to maintain a discipline of innovation. For them it is a habit, the second nature, basically something they naturally keep doing day in and day out.

There is no prescribed formula for success here, but most of the organized innovation efforts go through similar and repeatable journeys, from seemingly chaotic and unorganized set of ideas, toward the clear value.

EastNets, a leading global provider of compliance and payments solutions for the financial services industry has announced the appointment of Luay Gadallah as the company’s new Chief Technology Officer. Luay will be responsible for overseeing the strategic direction of EastNets technology organization, as well as upholding the company’s technology position at the forefront of the industry.

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today announced that its 60 second online fund transfer service ‘QuickRemit’ is now available for remittances to Pakistan.