Big Bank Update: Fined, But It's Business as Usual

The institutions have paid billions in penalties. Critics wonder if the levies will set them straight.

Sue Reisinger, Corporate Counsel

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Things have changed a lot since the days of bank robberies by the likes of Bonnie and Clyde. In today’s digital world, bank robbers are often anonymous faces behind a computer screen, and a traditional vault won’t keep your digital valuables safe anymore.  Criminals no longer need to physically break into the bank, they can hack its systems in safety from thousands of miles away and make off with billions without breaking a sweat.

In a world where corporate transactions take place around the clock, payment delays are no longer acceptable. How should banks and PSPs prepare for the New Access Model?

Since its introduction to the UK in 2008, the Faster Payments Service (FPS) has gained huge momentum. Customers are already seeing the benefits in reducing payment processing times, from three working days using the BACS system to as little as a couple of minutes.

The UK’s largest pensioner payment provider has launched a free app to help savers make more considered use of the pension freedoms they are now afforded.

Equiniti believe that with options to drawdown your pension, and retirement typically lasting 17 years, it is critical that people have freedom but also make educated choices so that they can calculate how long their pension pot will last and not run out of money.

IBM (NYSE: IBM) and Omlis, the emerging market leader for mobile security technology today announced the release of their Secure Enterprise Messenger (SEM) encryption technology  on the IBM SoftLayer platform.

Manulife Asset Management, the global asset management arm of Canada-based financial services group Manulife, has adopted RiskFirst’s risk analytics and reporting platform, PFaroe.  PFaroe’s risk analytics will complement Manulife Asset Management’s current Liability-Driven Investment (LDI) offering, enabling the asset manager to stress-test clients’ pension plans against economic and demographic assumptions and explore the impact of alternative portfolio allocations in order to drive more effective solutions.

S&P DJI, one of the world’s leading index providers, has decided to rely on SIX Financial Information’s Valordata Feed for index usage

Tryzens, the leading provider of digital commerce and retail solutions, has had two analysts officially certified as Demandware Solution Strategists. The company has achieved a world first in this recognition from the enterprise cloud commerce provider.

Demandware’s recognition of Tryzens’ Business Analysts follows the specific training from Demandware. This official certification has recognised Tryzens’ knowledge and expertise of the Demandware cloud platform, allowing them to better serve and advise clients using the solution.

AlternativeSoft, the leading provider of buy-side analytics for manager research and portfolio construction in the alternatives and long only markets announced its latest software release for 2015, AlternativeSoft v3.5. With a reputation for consistently providing the latest academically proven quantitative models for fund analysis, AlternativeSoft has positioned itself at the forefront of fund analysis. The expansive platform provides users with comprehensive quantitative analytics, CRM functionality, bespoke reporting and fast user experience.

Provenir Ltd., the risk decisioning solutions provider, today announces that Resurs Bank, a market leader for retail finance to private customers in the Nordic countries, has chosen Provenir to globally support its customer risk and decisioning processes.

Based in Sweden and expanding in the Nordic region, Resurs Bank is a recognised industry leader delivering customer centric services for sales finance, e-commerce finance, credit cards and personal loans.