Radical cost-cutting, branch-closing and job-axing are no longer enough. In the era of digitalization, low interest margins, strict regulations and brave new-entrant banks will need to find a new approach to regain profitability.

Most banks fail to earn their cost of capital. In Germany, for example, only 6% of banks earn their equity costs. Additionally, it is estimated that 40% of the costs incurred in banks are due to wasteful activities that add no value to the end consumer.

Lean and Six Sigma

Two-thirds of top-tier financial institutions have established reconciliation centers of excellence (CoE) following a recent wave of consolidation of the reconciliation function within these institutions, according to a study released today by SunGard and Aite Group.

In his first paper of this series, Shifting Sands - the harsh realities of executing in today's markets, the issues around constructing a reliable, globally-consistent market access infrastructure were examined, along with how the more enlightened brokers were starting to rethink their approach to electronic execution. This new paper focuses on a fundamental part of this, the smart order router (SOR), and the challenges facing firms as they struggle to stay on top of the ever-changing market landscape.

 Broadridge Financial Solutions, Inc. (NYSE:BR) today announced that BosValen Asset Management and Pleiad Investment Advisors have adopted Broadridge's all-inclusive trading, portfolio management and operating platform.

The digital start-up culture of the United States has long been lauded as the benchmark for the European Union (EU) to aspire towards creating. However the cultural and financial differences between the EU and US are vast, contributing to the perceived dominance of the US start-up scene. For instance the EU has not yet been able to create a single Internet company, which is worth above the $10bn mark.

SWIFT announces today that Vietnam Bank for Agriculture and Rural Development has joined the Know Your Customer (KYC) Registry, a centralised repository that maintains a standardised set of information about correspondent banks required for KYC compliance.

Under MiFID II, both buy-side and sell-side firms are required to record and to report on, separately, the algorithms used in making both the investment decision and the execution decision. In most agency workflows that should be straightforward enough; the buy-side makes and reports the investment decision, and the sell-side is responsible for the execution decision. But how does this work in other cases – market making, for example?

42% of British adults have had their personal information compromised by an organisation potentially putting them at risk of identity theft or identity fraud. Of these almost two thirds (64%) are concerned that it could happen to them again in the future.

The appetite for faster, easier and more convenient payment methods among UK consumers is rising rapidly, according to a new YouGov and ACI Worldwide (NASDAQ: ACIW) online survey of more than 2,000 UK adults. 45 percent of UK current account holders say the offer of faster electronic payments would encourage them to switch their bank account provider, the research shows.

The findings reveal that UK consumers have high expectations when it comes to speed of electronic transfers.

 Startupbootcamp FinTech, the leading accelerator focused on financial innovation, has today announced the 10 international startups selected to join the London program. The finalists, which include teams from across Europe, America and Asia-Pacific, have been chosen following a rigorous selection process by a panel of industry experts, including representatives from Startupbootcamp and its partners.