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.
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.
Although legacy systems replacement is a major undertaking for any bank, the global banking industry could regain a significant proportion of the profitability lost during the financial crisis by adopting modern core systems.
By Erik Christensen and Aaron Kahler, Capgemini | March 29, 2013
Over the next month Bank Systems & Technology will run a series of articles from experts at Capgemini concerning the upcoming FATCA regulations. This article, the first in the series, explores five strategies to meet the FATCA deadlines without harming a bank’s business operations.
By Karolina Tagaris and Michele Kambas, Reuters | March 28, 2013
Cypriots queued at banks as
they reopened on Thursday under tight controls imposed on
transactions, but there was no sign of a run on deposits that
had been feared after the government was forced to accept a
stringent EU rescue package.
Marcia Wakeman, partner, and Chia-Hsin Chung, managing principal, of financial services IT consultancy Capco discuss trends they are seeing in core systems replacement efforts and the best practices to consider when undertaking a core transformation effort.
Chinese Internet users are
crying foul over the perceived unfair treatment doled out to
Apple Inc by state-run media which has actively
criticised the smartphone maker for the past two weeks over its
Canada's banking watchdog said
on Tuesday it sees the country's six largest banks as being of
systemic importance to the domestic economy and that it will
make them keep 1 percent more capital on hand starting January
2016 to protect them from financial disruption.
A bank should limit its
exposure to any other single bank at no more than 5 percent of
its capital base to ensure it can stay in business if the other
lender defaults, global regulators proposed on Tuesday.