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A vaccination for financial crime

Vaccination

ransaction monitoring is emerging as one of the top priorities for banks and other financial institutions. Some now employ up to three per cent of their workforce to track financial crime. But, as leadership teams look to increase the effectiveness of their processes in the face of regulatory scrutiny and reduce costs, are there lessons to be learnt from health industry and its battle against infectious diseases?

Why we need diversity before AI takes over

Robots

We hear a lot about how artificial intelligence (AI) has the potential to displace jobs, especially those held by women in tech, but should we also worry about a future overrun with sexist, racist machines?

Women in fintech: why do we need them and how do we recruit them?

Women in Technology

Over the holiday period I saw my 17-year-old niece Katie reading an article in an engineering magazine about the lack of women in that industry. She is considering becoming an engineer.

The UK gets new coins, but why?

UK gets new coins. Image source: Royal Mint

As of March this year, UK’s one-pound, two-pound and 50p coins have all been upgraded to become “the most secure coins in the world”. However, with the rise in cashless payments, online transactions and mobile banking, is there any point?

Alexander Graham Bell’s influence on tech innovations in today’s financial services

Alexander Graham Bell. Image source: Encyclopaedia Britannica

“Mr. Watson, come here, I want to see you.” These were the first words ever spoken over a telephone line and said by the man fondly described as the father of the telephone, Alexander Graham Bell, who would have turned 170 on 3 March this year.

Blockchain offers banks potential, but HFT provides benefits now

HFT provides benefits now

I’ve been a technology nerd since before it was cool. In fact, when I went to college in the mid-1970s engineering students were treated more like George McFly than Mark Zuckerberg. It wasn’t the most glamorous major to talk about. Not much has changed today when I tell people I lead an advocacy organisation in support of high frequency trading (HFT), a technology that lowers trading costs for banks, asset managers and pretty much all investors. I find the work exciting, but I do run into my share of Biff Tannens.

Will 2017 be the year financial services improve their UX?

Mark Lusted, Dock9

2016 has been a big year for user experience (UX). The web, as a whole, became easier to use, apps became more intuitive, and services became a lot more engaging and purposeful. But could the same be said for financial services? Perhaps…

The big fight brewing over strong customer authentication

Thomas Bostrøm Jørgensen, Encap Security

Late last year, Visa fired a volley – unlikely to be the last – over new rules that it and all providers of online transactions will soon need to follow as part of the EU’s revised Payment Services Directive (PSD2). It has some doom-laden predictions.

Culture in investment banks is a ticking time bomb for employers

Hazel Moore, FirstCapital 1

Recently I have been recruiting for a senior analyst position. We have reviewed over 40 CVs for a senior analyst position, and only two have been from women.

Mobile: the banking industry’s biggest ultimatum

Mobile

An app is no longer a “nice to have”. As consumers expect businesses to engage with them at the right time, in the right manner, and over the right channel, a bank’s mobile app will be a crucial first point of contact for many customers. But it’s important to remember that an app by itself is not some wonder-cure that will instantly give a financial organisation perfectly satisfied customers.

@banking
techno