Wolters Kluwer’s Finance, Risk & Reporting (FRR) business has won a major award from Risk magazine. For the second year running its OneSumX for Regulatory Reporting solution has been named Regulatory Reporting System of the Year in the publication’s annual Technology Awards which celebrate excellence and innovation.

Xero, the small business platform, has formed a global collaboration with the multinational professional services network, PwC. The collaboration now allows local PwC firms around the world to provide quick and easy access for their clients to access the Xero platform.

As worldwide card fraud continues to rise, it is fundamental that the payments industry steps up to the challenge to prevent further data breaches and losses. One of the key elements of keeping data secure is PCI DSS compliance. The security standard has been around for a long time. But, shockingly, not all payments actors take it seriously. So, what is PCI DSS and why is it so important?

Introducing PCI DSS

NatWest is the first high street bank to enable customers to open an account in minutes using a selfie and photo ID to verify who they are.

Using state of the art AI, real-time biometric checks confirm their selfie matches the image in their photographic ID and ID documents are authenticated preventing fraudulent applications and removing the need to provide ID documents either by post or in branch.

Frans Woelders, Chief Digital Officer at NatWest, said:

A study released today reveals the scale of the battle UK business leaders face when business disruption hits, as a staggering 54 percent admit to suffering from stress-related illnesses and/or damage to their mental well-being in the aftermath of cyberattacks, IT outages or network failures.

The technological revolution in finance means that, rather than being a once in a decade step-change, digital upgrading has become a decade-long process - perhaps even a never-ending one. Because organisations cannot exist in a constant change of flux, finance leaders must take a different approach to staying up to date.

Digital optimisation, as opposed to transformation, ensures companies can stay up to date while maximising the value and benefits of technology.

Video banking technology provides banks with the ability to extend their services to more customers at a lower cost than full-service branches

Another banking touchpoint

According to RBR’s Teller Automation and Branch Transformation 2019 report, which covers 23 key global markets, a number of financial institutions are turning to video banking technology to extend their services, in particular to serve customers in rural areas.

More than a third of companies have adopted some form of AI in the past year, according to an MHR Analytics poll.

The poll revealed 38 per cent of companies have made the leap to AI or machine learning by adding the technology to their analytics approach in the past 12 months.

Almost a fifth (19 per cent) of the 500 professionals polled on Twitter said their company had made ‘significant’ progress with adopting AI, and a further 19 per cent said their company had ‘steadily’ been adding the technology to their analytics strategy.

1) Could you please tell us more about the background of Intertrust?

Intertrust is a global leader in providing expert administrative services to clients operating and investing in the international business environment. We provide services to multinational corporations, financial institutions, fund managers, high net worth individuals and family offices.