Regulation & Compliance

Vendor risk management provider of the year — CAST

New York-based, but founded by Frenchman Vincent Delaroche and quoted on the Euronext Exchange in Paris, CAST has established itself as the leader in the field of benchmarking the quality of software code. Around 10% of financial firms are using some sort of standard for benchmarking the quality of their code, reckons Lev Lesokhin, marketing »

Crowd testing provider of the year — Applause

Crowd testing provider of the year — Applause

Applause, the Boston-based firm that specialises in crowd testing, teamed up with Santander to develop a mobile app for the Spanish market that will be fit for purpose in a new era of open banking. The success of Applause is based on the expertise of the many manual testers that it brings to the table »

Mobile testing provider of the year — Perfecto

How quickly can a bank test its app on hundreds of combinations of devices and operating systems?  Perfecto, a provider of cloud-based mobile testing environments, offers a solution for a highly fragmented market. Bank customers are unforgiving when it comes to mobile apps. Bugs mean lost market share. But every new phone release — indeed »

Regulatory testing project of the year — HCL and Deutsche Bank

Regulatory testing project of the year — HCL and Deutsche Bank

European banks have to implement FATCA tax rules for each national market in which they operate. So Deutsche Bank’s FATCA compliance app was necessarily going to be a sophisticated build. In partnership with HCL, Deutsche designed a pioneering DevOps solution. Compliance is increasingly driving software development and testing, and the complexity for software developers arises »

Software vendor platform of the year — Calypso Technology’s CATT

The San Francisco-based trading and risk systems became the first capital markets software vendor to offer an automated testing platform for its product. Standard Bank of South Africa was the first major customer. Testing software and apps has become progressively more difficult and time-consuming for banks. Aside from the growing number of legacy systems that »

DevOps advisory provider of the year — Tata Consultancy Services

ING is recognised as a leader in Agile and DevOps delivery among European banks. The partnership of ING’s Belgian subsidiary with Tata Consultancy Services (TCS) has been an important part of its success in its move toward continuous app delivery. Netherlands-based ING started its transition to full automation of software development two years ago, driven »

R3 and ACORD create centre of excellence

R3, a consortium of more than 80 financial firms and regulators that have pooled resources to develop Blockchain technology, has partnered with the Association for Cooperative Operations Research and Development (ACORD) to create a virtual centre of excellence for distributed ledger technology in the insurance sector. The R3 consortium counts a number of insurance companies »

Singapore regulator creates data analytics group

Singapore regulator creates data analytics group

The Monetary Authority of Singapore (MAS) has created what it is calling its Data Analytics Group (DAG), which it will task with leveraging the power of data to enhance its supervision of financial institutions. MAS says it believes this will decrease the cost of compliance for financial firms through the use of analytics, and increase »

BoE governor highlights cloud as source of operational risk

The Bank of England’s governor, Mark Carney, identified Cloud services, as well as “common hosts of online banking”, as potential sources of operational risk in a speech he gave in Germany on Wednesday. Carney said that regulators have to be aware of new single point of failure risks. In the speech, the governor of the »

CFTC fines Société Générale $450,000 over software bug

CFTC fines Société Générale $450,000 over software bug

The US Commodity Futures Trading Commission (CFTC) has issued a $450,000 fine to French financial firm Société Générale for improper regulatory reporting caused by bug in the code of Société Générale’s FX trading platform. The  reporting error led to the French investment bank falling foul of the Commodity Exchange Act (CEA) and CFTC Regulations. The »

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