Compliance / Regulations

See below for a list of independently written IBS Journal news and feature articles and IBS Intelligence Research vendor profiles, case studies and market analysis related to Compliance in order of publication date.

You may also be interested in our Risk Management Systems & Suppliers Guide >>

The banking industry is one of the world's most heavily regulated industries.

The government of a country is ultimately responsible for the supervision of its banking system. A government will often delegate its supervisory duties to the country's central bank or specialist regulatory agency. Examples of regulators are Federal Reserve in the US, Financial Services Authority in the UK and in Australia the duties are split between the Reserve Bank of Australia and the Australian Prudential Regulation Authority.

Although there will be differences around the world, generally a bank needs a licence, which is obtained from the local regulator, in order to begin conducting business. Having established itself, its activities and financing will be examined on a regular basis and fines will be imposed for improper conduct.

Regulations may be purely local and applicable to a particular country alone or international, such as Basel II capital adequacy regulations. Regulators around the world are generally seen to be in close co-operation particularly on such issues as anti-money laundering or anti-terrorist financing.

Not all banking is recognised as 'regulated'. There are countries in which there is little or no recognised and regulated banking system, such as Afghanistan or Somalia. 

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Article: Euroclear and DTCC to offer joint collateral services

16 May 2013

Euroclear and Depository Trust and Clearing Corporation (DTCC) have announced they will launch new collateral processing services based on the former's Collateral Highway offering and the latter's equivalent, Margin Transit Utility.

Article: Case study: Soneri Bank – One step ahead

02 May 2013

With financial crimes growing daily, banks are under increased regulatory scrutiny to ensure proper policies, controls and procedures are in place. IBS speaks to Soneri Bank in Pakistan about how strong its prevention of money laundering is and how...

Article: Project watch: Legal Entity Identifier – Safety in numbers

02 May 2013

The global roll-out of a Legal Entity Identifier (LEI) is slowly but surely turning into a reality. The international infrastructure is taking shape, and concerted efforts to distribute LEIs are now well underway. IBS speaks to industry experts...

Article: Overview: Keeping up

02 May 2013

AML and fraud software has become a 'top management issue' for banks in recent years. IBS looks at why this is, and whether software is standing up to the tests of financial criminals.

Article: IBS Journal Anti-Money Laundering Supplement 2013

02 May 2013

New ways of defrauding and money laundering, new ways of preventing it, new sanctions and regulations – these subjects crop up again and again. And although the industry talks the talk, actions of some of the participants don't support their s...

Article: Spotlight: Sanctions Screening – One year on

02 May 2013

Swift's Sanctions Screening service is now one year old. Has it been all that Swift hoped for, and what other developments are in the pipeline?

Article: Midwest Business Solutions selects Vsoft for core banking

01 May 2013

Vsoft Corporation has secured a new taker for its core banking solution, Coresoft, beating heavyweights, Fiserv and Harland Financial Solutions, to the deal. This is Midwest Business Solutions (MBS), a US-based credit union service organisation....

Article: Euroclear gains recruits for Collateral Highway

29 April 2013

Euroclear's Collateral Highway has similar aims to Clearstream's Global Liquidity Hub and is gaining a similar set of takers, with Standard Chartered the latest to sign.

Article: Bank Al Muamelat Assahiha in Mauritania goes live with iMAL

26 April 2013

Bank Al Muamelat Assahiha (BMS) has become the third live site in Mauritania for the iMAL core banking system from Kuwait-based Islamic banking software provider, Path Solutions. The vendor was chosen ahead of a spate of regional and international...

Article: Equens offers new SEPA services for Dutch corporates

26 April 2013

Netherlands-based payments provider, Equens, is looking for takers for its new SEPA-compliant services for corporate clients in its home market. The new offering, dubbed Business Payments and Receipt, comprises of three modules which either come...

Article: BNP Paribas adopts new Swift collateral flow messages

25 April 2013

BNP Paribas Securities Services is to integrate Swift's new collateral flow messages into its Margin Protect service to try to remove fax and email-based processes ahead of the expected leap in volumes as a result of new regulations.

Article: Standard Chartered partners with Clearstream for collateral management

24 April 2013

As BNP Paribas nears go-live, Standard Chartered has signed as the third institution to seek to provide a global collateral pool for clients by working with Clearstream's Global Liquidity Hub service.

Article: Linedata nears go-live at Northeast Investors Trust

24 April 2013

Boston-based mutual fund, Northeast Investors Trust, is nearing go-live of the Linedata Mfact back office accounting software from French vendor, Linedata. The testing phase is nearing completion and cutover is scheduled for late April 2013.

Article: First phase of UAE DDS initiative set for June go-live

23 April 2013

The Direct Debit Scheme (DDS), a national initiative in the UAE for electronically processed payments, is set to launch on 15th June 2013. Initially, the DDS will cover loan and mortgage repayments, with credit cards and utility payments expected...

Article: Who's Bought What? – April 2013

04 April 2013

A round-up of recent orders in the financial technology sector worldwide. New deals for NICE Actimize, Smartstream Technologies and Alaric.

Article: Analysis: Core banking systems market – Holding steady

03 April 2013

What has been happening in the core banking software market of the MENA region over the last year, and who is buying what? IBS investigates.

Article: Project watch: Arab Jordan Investment Bank – Site for sore eyes

03 April 2013

Since the deployment of the ICS Banks core offering from ICSFS in 2010, Arab Jordan Investment Bank (AJIB) has not missed a beat. It has become a major reference site for the vendor, has migrated its operations in Cyprus and Qatar to the new...

Article: Case study: National Bank of Egypt, Sudan – Turning risk into asset

03 April 2013

When the National Bank of Egypt (NBE) wanted to launch its new operation in Sudan, it placed its faith in regional supplier, International Turnkey Systems (ITS). Omer Sidahmed, the start-up's deputy general manager, shares the details of this...

Article: Bank Dhofar goes live with iMAL for Islamic operations

03 April 2013

Bank Dhofar, an Oman-based bank, has gone live with Path Solutions' iMAL core system for its Islamic banking operations. This new unit, named Maisarah Islamic Bank, opened for business earlier this year. iMAL is running alongside Bank Dhofar's...

Article: Smartstream continues progress with TLM Corporate Actions

27 March 2013

The TLM Corporate Actions solution from Smartstream has gained a new taker in the form of Ringkjøbing Landbobank, a regional bank in Denmark. The bank is moving from a largely manual environment.

Article: Bank Central Asia automates AML processes with NICE Actimize

25 March 2013

Bank Central Asia (BCA) has become an early adopter of fully automated anti-money laundering (AML) software in Indonesia and the wider region. The bank is replacing its legacy, largely manual system with the Actimize AML Suspicious Activity Monitoring...

Article: Overview: Payments market – The final countdown

08 March 2013

The continuing rise of mobile and contactless payments channels, M&A activity and the looming SEPA deadline has given the payments industry much to think about. 2013 looks set to be another year of reform in the retail and corporate payments space.

Article: US retail banking systems market analysis 2013 (results Jan-Dec 2012)

06 March 2013

The pick-up in demand for core systems continues to lift the gloom in the US and, although the market is not quite out of the woods yet, there seems to be a universal relief that the progress has been maintained.

Article: Oman's first standalone Islamic bank enters phase two of iMAL implementation

04 March 2013

Bank Nizwa, the first fully-fledged Islamic bank in Oman, has entered into the second phase of its implementation project, installing new channels such as internet banking and SMS functionality. It is still early days for this venture and the...

Article: Aman Bank implements Flexcube from Oracle FSS

27 February 2013

Libya-based Aman Bank has initiated its implementation of Oracle FSS's Flexcube core banking system. The bank hopes to roll out the solution to its 23 branches and agencies, as well as its ten mobile branches by the end of 2013. Eduardo Pinto, COO a...

Article: Trésorerie Centrale des Dépôts gearing up for CapitalBanker implementation

20 February 2013

Capital Banking Solutions' second customer in the Republic of the Congo, Trésorerie Centrale des Dépôts (TCD), is about to kick off its implementation of CapitalBanker. The work is due to start at the beginning of March and go-live is scheduled for...

Article: Misys gains first taker in Malawi for MGR

31 January 2013

Misys has signed National Bank of Malawi as the first taker in the country for its enterprise risk solution, Misys Global Risk (MGR). The bank has selected the regulatory compliance module to underpin its risk management framework. The data mapping...

Article: Leeds Building Society signs with Lombard Risk

25 January 2013

IBS has learnt that one of the UK's largest building societies, Leeds Building Society, has taken the Reporter offering from Lombard Risk (the vendor declined to name its new customer). The new system will replace an in-house development and provide...

Article: Trust Systems lands new core banking deal in Nepal

14 January 2013

Nepal-based greenfield bank, Sajha Development Bank, has become the latest addition to the client list of Trust Systems & Software. Polaris, Neptune and domestic vendor, Mercantile, made it to the bank's shortlist but lost out at the final stage.

Article: End of Year Review 2012

20 December 2012

As 2012 drew to a close, IBS Journal rounded up the significant developments of the international banking software industry, highlighting major achievements, dubious accomplishments, key mergers and acquisitions, as well as regulatory changes that...

Article: International Private Banking Systems – IPBS – Private – Stocks & Securities Limited (SSL) – Jamaica

19 December 2012

New case study added in our Core Banking Systems Case Studies publication: In 2008, Stocks and Securities Limited (SSL), the second oldest...

Article: Islamic Banking Focus: Overview – No place like home

03 December 2012

When the Islamic banking industry took off, many predicted the rise of international players in the sector, but that hasn't materialised to date. Where is current demand coming from and are there signs of cross-border expansion? IBS polled...

Article: Analysis: Target2-Securities – Where there is a (political) will, there is a way

03 December 2012

The likely make-up of the post-trade market with the arrival of Target2-Securities (T2S) is starting to take shape. Far from the predicted reduction in the number of Central Securities Depositories (CSDs), it looks as though there will be an...

Article: Intelligent Environments unveils software platform for digital finance

30 November 2012

UK-based mobile and online banking software specialist, Intelligent Environments (IE), has launched a new integrated platform for digital financial services, Interact. The new solution, which was unveiled on 29th November 2012, has already...

Article: ECB revision to migration deadlines pushes back arrival of T2S

22 November 2012

Already delayed, Target2-Securities (T2S) has effectively been pushed back further as a result of a revision to the migration waves for Central Securities Depositories (CSDs). Few CSDs wanted to go in the first two of the three scheduled waves and,...

Article: Conference review: Sibos 2012 Osaka

20 November 2012

Swift's Sibos show dropped in this year on Osaka, with IBS in attendance as always. The location provided a strange backdrop to a week of discussion and some disappointments.

Article: Infosys kicks off implementation at Bunna International

13 November 2012

The core modernisation project at Bunna International Bank is due to start this week with the training of staff. The bank has chosen the Finacle core banking offering from Infosys to underpin its regional growth and to comply with the National...

Article: About the Risk Management Systems & Suppliers Guide

06 November 2012

Risk management is clearly to the forefront in most banks and is an area for investment. Written entirely by IBS, this new guide is totally independent, enabling readers to understand the drivers and options for moving to an enterprise architecture t...

Article: Point of view – Technologies that are and those that will never be

05 November 2012

Apart from the much talked-about IT issues wealth managers and private bankers face (such as outsourcing versus in-house, straight-through processing and data security, just to name a few) what are the newer and/or off-beat challenges the industry...

Article: Financial Architects adapts FinStudio platform to comply with new standard

02 November 2012

Financial Architects, part of Wolters Kluwer Financial Services, is currently working on adapting its FinStudio platform to comply with 'the next big thing in international accounting standards', which is scheduled to come into force in 2015....

Article: Conference review: BAI Retail Delivery 2012

24 October 2012

IBS was in Washington in early October for the major gathering of banks and suppliers that is the BAI Retail Delivery show. There is life in the core banking systems market in the US as well as increasing activity around channels, compliance and...

Article: BI vendor iCreate gains live sites in Egypt and Kuwait

09 October 2012

India-based business intelligence (BI) vendor, iCreate, is gearing up for a go-live at its first site in Egypt, at SAIB. Meanwhile, Gulf Investment Corporation (GIC) in Kuwait is already live with iCreate's flagship, Bizscore.

Article: SDD decisions at Citibank and the Irish banks

03 October 2012

Individually, or en masse, banks are making decisions as they put in place solutions for SEPA Direct Debits (SDDs). Citibank and the Irish banks are among the latest, focusing on mandate management, with Logica and Sentenial as the beneficiaries,...

Article: Eastnets prepares operator-independent workers' remittances service

02 October 2012

Dubai-based Eastnets has been trying to make a success of workers' remittances for some time, working with Swift. It hopes a new service, which will cut the ties with the mobile operators, will boost the uptake.

Article: Reprieve for rFrame and Samba Plus as Logica shelves IBRA

02 October 2012

Launched in March 2011 as a Java-based replacement for the rFrame and Samba Plus regulatory reporting offerings, Logica has now shelved its Java-based IBRA solution.

Article: Top Systems to provide AML offering to Banco Regional

07 September 2012

Having been recently acquired by Stefanini Group in Brazil, Top Systems will roll out its anti-money laundering solution in Banco Regional, Paraguay-based bank, by the end of this year. The vendor is also involved in an on-going project with a...

Article: Case study: Forex Bank – Northern exposure

31 August 2012

When Nordic retail foreign exchange player, Forex Bank, wanted visibility of its trades across the group, IT2 and its regional partner, OpusCapita, stepped in to help.

Article: Case study: Bank of America Merrill Lynch – Stress relief

31 August 2012

Outsourcing some treasury processes can ease the strain. IBS talks to Bank of America Merrill Lynch about its soothing technological balm for stressed treasury departments.

Article: DTCC and Swift pioneer first step towards LEI

24 August 2012

A global standard for transaction reporting, the Legal Entity Identifier (LEI), has moved a step closer with the DTCC and Swift launching a web portal for an interim identifier under the auspices of the US Commodity Futures Trading Commission...

Article: Financial Architects acquired by Wolters Kluwer Financial Services

18 July 2012

Wolters Kluwer Financial Services has acquired its second Belgium-based risk management vendor, Financial Architects (FinArch). It already owns FinArch's rival, FRSGlobal. The acquisitions will be combined into a single finance, risk and compliance...