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FinTech Trends Newsletter Week 16th April – 20th April 2018
How software is changing the way we do business
Nowadays, there is software for everything. You can use software in your business to manage everything from your payroll, trading, regulation (RegTech), account & risk management, cyber security and telephone recording. As technology continues to evolve, specialty software suites are being introduced that can streamline and improve every aspect of your business operations, helping you save time, save money and increase profits. Some software packages can help any kind of business, such as payroll software, while other software is designed to solve a problem for a specific industry. Learning about some of the most popular and effective types of software available can help you understand how technology is changing the way we do business. Here’s a few examples:
Industry specifics – Depending on your industry, multiple software packages that can help you improve your processes so that you can better serve your investors and clients while maximising your profits. For example, businesses in financial services. Leveraging big data and advanced analytics is fast becoming a strategic necessity. More managers are analysing non-traditional data such as social media posts, private company information and customer account data to find new opportunities that generate alpha using software. In fact, surveys have found that nearly half of managers say they are using this type of data to support the investment process.
Hedge Fund Regulations – One of the biggest challenges facing hedge funds currently is the uncertainty surrounding regulations such as Dodd-Frank, MiFID II, GDPR, Liquidity rules and AML regulations. Many firms are unsure of the specific requirements they must meet. In addition to increasing legal requirements, investors are also demanding a lot from hedge fund managers today. In terms of technology, investors want to see disaster recovery and business continuity plans in place in order to ensure there are adequate backup plans if something goes wrong. So the challenges facing hedge funds today is the uncertainty surrounding these rules and regulations. Sound familiar? Investors demands have only increased over the course of the last 5+ years, and today’s investment management firms are grappling with transparency, reporting and infrastructure expectations too, that continue to evolve. Particularly when it comes to cyber security, investment managers are facing tough questions during due diligence meetings and regulatory examinations. Software eases C-Suite and top senior management’s concerns, problems and uncertainty as it can be implemented and deployed quickly with instant,tangible results that can be seen on a screen and can be controlled by staff and utilised through out the firm, for its benefit.The role of technology service providers, like Storm IT Financial, are changing accordingly with these new rules and requirements. IT providers aren’t just help desks anymore. Drawings and spreadsheets are no longer sufficient to present to investors. These days, service providers are being pulled directly into investor due diligence meetings to explain the intricacies of a hedge fund’s technology infrastructure and Software as a service (SaaS) is becoming more prevalent and the norm to help firms with their regulatory needs.
Security – No matter what industry you are in, security is extremely important. We trade a lot of information in our digital world, especially in financial services. Some of that is sensitive information about the company and some of it is the personal or financial information about our clients and investors. The right security software can not only keep that data safe, but it can also identify weaknesses in your system and make recommendations for best practices and improved hardware. Technology is always improving in order to bring us new and better tools to make our lives easier. As a business owner or manager, you should take advantage of the software that can help you improve your practices, save you time, and save you money. These are just a few of the software examples that are changing the way we do business in financial services but there are many others and new options are always being introduced.
For further advice & assistance about SaaS, Regulatory & Compliant Solutions and Data Management & Cloud (Public & Private), contact Storm IT Financial and find out more information on Hedge Fund, Asset Management, Private Equity & Alternative Investment, back up, disaster recovery, cyber security & firewall solutions, security education seminars, data storage, helpdesk support & IT Services.
Storm IT Financial FinTech News & Trends picks: Week 16th April – 20th April 2018
The 3 ways Azure improves your security
Companies worldwide are challenged by the ongoing volume of evolving security threats. Microsoft Azure can help strengthen your security:
https://azure.microsoft.com/en-us/blog/the-3-ways-azure-improves-your-security/
How Data Science Can Help You Grow Your Business Faster
In this ever-increasing digital world, these technological advances are critical for businesses to succeed and grow:
https://www.entrepreneur.com/article/311655
The FCA (Financial Conduct Authority) Business Plan 2018/19
The annual Business Plan gives details of the specific areas of work the FCA is prioritising for the next year:
https://www.fca.org.uk/publications/corporate-documents/our-business-plan-2018-19
https://www.fca.org.uk/publication/business-plans/business-plan-2018-19.pdf
How to Get the Most From Your Machine Learning Data
The data that you use, and how you use it, will likely define the success of your firm and it’s relationship with your clients:
Unpacking the 5 Biggest Cryptocurrency Scams
Cryptocurrencies have revolutionised the way the world looks at transactions but they’ve also facilitated some monumental scams:
https://cointelegraph.com/news/unpacking-the-5-biggest-cryptocurrency-scams
Industry heavyweights from Barclays, RBS and Coutts back new personal investment robo-adviser Pia
Big name former exec’s from Barclays, HSBC and Coutts are behind a new startup aiming to help consumers navigate the world of investing:
http://www.cityam.com/283650/industry-heavyweights-barclays-rbs-and-coutts-back-new
Barclays Bank sets up tech venture unit
Barclays UK Ventures (BUKV) set up to invest in and partner with tech companies to find new opportunities for growth and innovation:
Coder V’s Broker
Why Google beats up Goldman in the fight for the top graduates:
Intelligent London: inside the AI revolution taking over the city
We’re on the verge of a paradigm shift and it’s all to do with artificial intelligence:
‘Fake data’ will make banks vulnerable – Accenture
Many banks are not doing enough to verify the validity and accuracy of their data, according to Accenture:
Permira acquires French cyber security business Exclusive Group
The deal sees Cobepa and Andera Partners, formerly known as Edmond de Rothschild Investments exit:
Goldman Sachs pushes to be the banks for Main Street
Marcus is Goldman Sachs new consumer-facing online bank from the nearly 150-year-old financial institution:
