Banking analytics, risk and compliance pioneer, iCreate, today announced a strategic partnership with tax information reporting leader, Convey Compliance Systems, Inc., to help global banks accelerate their FATCA compliance initiatives.
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OptionsCity Software, a global provider of electronic trading solutions for professional futures and options traders, today announced that users of its flagship Metro trading platform will now have direct access to the OptionsCity Algo Store. The Algo Store was created to provide customers with a marketplace to buy and sell algorithms for trading futures and options. OptionsCity offers this enhancement through Metro Link, a tool that allows traders to run algorithms purchased in the Algo Store within Metro.
The Banking sector is renowned for the volume and velocity of Data it generates, transmits and stores. Given the recent financial crises and the subsequent regulatory pressures, the cost of IT has grown exponentially for not just the banking organisation on the whole but even at a divisional level.
In the previous edition of Financial IT, we observed that change in the global financial system is being driven by innovation which, in turn is being driven by technology. We also explained how the technology revolves around the adoption of the standards which underpin the world’s financial services infrastructure. In short, our discussion of change focused mainly on a question which can be summarised in one word: Why? In this edition, we look at change by focusing on a different question, but one that may also be summarised in one word: Who?
Zurich is one of the world’s leading insurance groups, and one of the few to operate on a global basis. Its General Insurance and Global Life business in Australia and New Zealand works through agents, banks and brokers to deliver a wide range of insurance and savings solutions to its 21 million individual, commercial and corporate customers in Australia and New Zealand.
Diasoft, a global provider of innovative core banking solutions, is ranked the second in the IBS Russian Sales League Table 2014. With 10 new-name deals signed in 2013, Diasoft does not only demonstrate a significant result, but also goes ahead numerous of its competitors operating in the Russian market. Additionally this year Diasoft is included into the Global IBS Sales League Table.
Diasoft, a global provider of cutting-edge core banking solutions, announced that its innovative FLEXTERA has been selected by microfinance organization Bistrodengi to automate loans accounting business processes of the company and to support its development strategy.
The 2012 Retail Distribution Review (RDR) and the Financial Conduct Authority’s (FCA’s) policy paper on platforms, significantly increased pressure on advisers to drive down costs - whilst still remaining profitable. In a nimble response to this, Aviva, one of the UK’s leading financial institutions, selected an administration partner, Citi, and platform technology provider, Bravura Solutions (Brvura) to launch a market-first offering, integrating Aviva’s existing online offering (Aviva For Advisers) and the Aviva Platform.
While the life insurance industry continues to experience growth, there is an inherent fragility in a sector being weighed down by its legacy business. A complex web of antiquated technology systems bows each time a new product is brought to market or a regulatory change needs to be accommodated.
We are, however, standing at the precipice of a technological revolution in this space.