News & Blogs

There's still a lot of work to be done as financial institutions start to define and begin their SWIFT ISO 20022 journey

Generally, the most laborious part of a customer’s relationship with their financial institution is the application and onboarding process. There is always room for improvement.

LIBOR Retirement it happening now! Banks cannot achieve a successful transition without the right software solutions.

Around the world, banks find themselves under a veritable assault from different payment apps and fintech service providers and the demands they place on their processing capabilities. Consumers have more…

Hello fabulous women of the world. In this edition of Devil Wear’s Technology, I had the pleasure of interviewing two incredible women executives of Nuestra Caja, aka NUCA. Jessica Silva,…

Regulatory Compliance expert, Shelly Nicholl, walks through "hot topics" of criticism for this examination period.

The latest Economist Intelligence Unit (EIU) report: ‘Overseeing AI: Governing artificial intelligence in banking’ sponsored by Temenos, takes a deep dive into the complex world of Artificial Intelligence (AI). Like many new technologies before it, AI is still at the stage where it has to prove itself to be useful to bank customers. There is still healthy scepticism in the minds of customers around the use of AI by banks, and it will take time for that to be broken down.

The report says that the guidance that regulators have offered so far can be described as “light touch”, taking the form of information and recommendations rather than rules or standards. This is a potential minefield for banks which think AI is a type of wonder-solution. The report postulates that this 'light-touch' approach is to avoid drying up innovation. Another reason how AI will evolve. AI is still in its early years and not many vendors really understand its potential or likely direction. As the report points out, there is no single expert who can answer every query about how AI works.

If the rise of open banking over the last few years has been responsible for an industry-wide push to digitalize, banking during the pandemic has changed that push into a…

Senior compliance advisor, Lisa Lugtigheid, explains three potential upcoming changes to the Qualified Mortgage rules issued by the Bureau.