The New Norm

An irreversible change.  Whenever the current economic crisis comes to an end, we shall live in and face a different world where many things will have changed. New regulations will have been introduced, corporate and public sector organisations will have reacted, and global economic power will continue to shift. Read more about The New Norm ...

Liquidity remains top challenge for banks despite compliance deadline being pushed back

Over 15 man-years and up to £700 million needed for compliance. Atos Consulting estimates that compliance with the Liquidity regulation will, for the largest financial institutions, require over 15 man-years of additional work to be completed this year. It also estimates that it will cost the UK Financial Industry between £300 and £700 million to implement. Read more about Liquidity remains top challenge...

Banks need to plan now to meet new regulations 

As shares in UK high street banks plummet further, the need to restore consumer confidence in the banking system intensifies. In response the FSA has introduced a reform of the Financial Services Compensation Scheme (FSCS) that is likely to result in significant, complex and costly changes for banks, especially for those that have recently merged. Read more about Banks need to plan now to meet new regulations... 

Reducing IT costs without destroying value

Organisations are continually under pressure to control the amount they spend on IT, but never more so than in the current downturn as organisations look to curtail investment programmes and reduce costs.  However IT cost reductions should always be approached with value in mind; if cutting IT costs destroys business value,  then the reductions will be a false economy.  Read more about Reducing IT costs without destroying value...

Where to Invest in a Downturn

As the recession begins to bite, all companies will be looking to make significant improvements in cash flow and operating margins with varying focus on the level and timescales for benefits realisation. All will have a variety of improvement projects ongoing at any time, the essential questions will be focused on the following: are we doing the right projects, will they deliver the benefits we need and how do we focus our limited resources to best effect?  Read more about Where to Invest in a Downturn...

Risk Transparency in Banking

Liquidity crises are a recurring feature of every financial market and in 2007 it was the turn of the credit markets.   The ‘Credit Crunch’, also known as the sub-prime mortgage crisis, banking crisis or liquidity crisis, exhibits similarities to and also differences from previous crises. This paper explores some of the underlying factors which led to the credit crisis and identifies steps that banks can take to better manage a similar crisis in the future.  Read more...

In the current market, regulation is at the top of the agenda as people search for answers on how the credit debacle materialized. As firms take stock and count their bruises, the regulators are already discussing how initiatives similar to Europes’ MiFID and the US RegNMS could be extended. The potential ramifications to other classes of financial instruments needs to be considered, and in particular, how to achieve transparency in the growing structured products market.  Read more...

Surviving or Thriving After MiFID

MiFID sets the stage to make Europe a more attractive market for investors. Even though half of Europe is late in amending national laws to incorporate MiFID, change is already underway. New trading venues, such as Chi-X, are emerging to create more competition. Trade volumes are increasing while the trade size is decreasing. This is illustrated in reports from the European stock exchanges that show a 50-120% increase in 2007 trading volumes over 2006 levels with an average 20% smaller trade size.  Read more...

MiFID, Can you compete?

The deadline approaches. The firms in pole position to benefit from the Market in Financial Services Directive (MiFID) will be those that have their client and market strategies allied to an understanding of the changes to their operating model. Their budget and resources will have been allocated to business development that exploits the directive’s created opportunities. The losers will be those that are slow to react or seek only to tick the compliance box.  Read more...

Time for the insurance market to step into the future

The London Insurance Market is a trading environment rich in heritage and one that is famous throughout the world for its ability to craft bespoke coverages to address highly complex risks. The subscription basis of the Market and the significant role played by the broking firms all add to the uniqueness of London as a centre of insurance excellence. But things need to change.  Read More...

Structured Financial Products – Improving Time to Market

Corporate Investment Banking and Wealth Management institutions have succeeded in creating large profits for their clients and their shareholders. The buoyancy of the economy has meant that even inefficient front-office processes have performed well. As the market becomes more competitive and clients are more demanding, less loyal and looking for new, innovative products being available immediately, the challenge is on to meet their raised expectations. Read more...

Business Process Reform: The Key to Unlocking Value from Contract Certainty

Insurance brokers and underwriters agreeing insurance term sheets is traditional practice. It has often meant that the price was agreed far in advance of the finalisation of detailed documentation (‘contract certain’) of just what was being covered. In 2004, the Financial Services Authority (FSA) challenged the industry to improve the lengthy process of finalising insurance contracts or face enforcement action. Read more...