Vendor management is becoming more important from a compliance standpoint as regulators scrutinize banks’ third-party relationships, and achieving that compliance begins with crafting a clearly defined contract.
While many financial institutions are relying more on business analytics and intelligence for decision making, they need to first ensure the accuracy of the information feeding these statistics and ensure that each customer has a single record within a central database.
By Erick Christensen and Aaron Kahler, Capgemini | May 10, 2013
In the final article in a three-part series on FATCA compliance, we explain why banks need to look for solutions that help them collect and analyze customer identification information to help with compliance in multiple areas beyond FATCA.
By Erik Christensen and Aaron Kahler, Capgemini | April 25, 2013
In the second of a series of articles on FATCA compliance we explain why banks need to look for a centralized technology solution that circumvents data silos to get a full view of their customers who can be affected by FATCA.
By CeCe Morken, Intuit Financial Services | April 21, 2013
The greater flexibility provided by API technology means banks can quickly provide the kind of product customization and experience customers expect. This depends on open infrastructures and data feeds.
Banks are part of a interconnected ecosystem with law enforcement, vendors and other critical industries when it comes to cyber security. New cyber security regulations should help to facilitate cyber security efforts among these players instead of burden banks with a checklist of to-do’s.
By Karthik Krishnamurthy, Cognizant | April 18, 2013
By starting small, growing organically and striking the right balance between gaining the desired insight and becoming overloaded with data, financial services firms will truly recognize the gains they can make