The pandemic-induced lockdown put compliance systems to the test for many financial services firms because so many employees, including those on the trading floors, were suddenly working from home and more vulnerable to attack. At the same time, the pandemic put on hold cutting-edge, emerging technologies and their usefulness for compliance as firms braced themselves… Read More >>
Multiple Shocks Are Driving Up Op Risks: OCC
The banking system is under stress on multiple fronts. Stress from the pandemic. Stress from a defeated presidential candidate and his coterie of enablers, denying the results of the recent election, fomenting rancor and unrest and deepening the country’s ideological divide, all the while insisting that “we are rounding the turn,” even as coronavirus cases… Read More >>
CRM Systems Are a Necessity Now: Q&A
(In a Q&A with FTF News, Jiro Okochi, president of Tier1 Financial Solutions, argues that remote work environments reinforce the need for technology that helps manage all relationships. Client relationship management (CRM) systems have become a necessity as more financial services firms continue to function by working remotely due to the pandemic-induced office closings. The pandemic… Read More >>
Pandemic Drives Up Costs for Fighting Financial Crime
The pandemic is surging and, partly because of the coronavirus epidemic, so is the cost of monitoring and reporting financial crime. The graphs and spreadsheets that financial services professionals pore over are bringing the disturbing news. And as one veteran observer of the securities industry puts it, Wall Street doesn’t like what it sees. Just… Read More >>
Costume Suggestions for Halloween 2020
To say the least, it’s been a little hard to find and maintain your sense of humor during 2020, a year generally regarded as a living Hell for many and a modern Purgatory for others. No one has escaped its unique horrors. But, for this Halloween, we might turn the tables on fate. We can… Read More >>
CRM Systems Are a Necessity Now: Q&A
(Client relationship management (CRM) systems have become a necessity as more financial services firms continue to function with staff and clients working remotely due to the pandemic-induced office closings. So says Jiro Okochi, president of Tier1 Financial Solutions, whose offerings serve firms in the capital markets and banking arenas. The pandemic conditions underscore the need… Read More >>
Hedge Funds Fear Burnout for Remote Staffs: Survey
Many hedge fund managers expect clarity will come in 2021 for a real recovery from the pandemic-induced downturn, and for how to safely return to their offices. In the meantime, they have major concerns about the impacts of remote working upon their staffs, possibly causing burnout for some of them. These are some of the… Read More >>
Remembering 9/11 in 2020
For the 19th anniversary of 9/11, there is an added poignancy given all the losses caused by the COVID-19 global pandemic. It’s true that these two, massive events have completely different circumstances, and are not remotely related. But the horrible results are the same — we have lost too many we love and hold dear,… Read More >>
BNY Mellon Staff to Stay Remote for 2020
BNY Mellon Mum About 2021 Custody bank BNY Mellon is telling its approximately 48,000 staff members across the globe to continue to work remotely for the rest of 2020. “Our top priority remains the health and safety of our employees and our clients,” a BNY Mellon spokesperson tells FTF News. “A majority of our global… Read More >>
IT Disconnect With Business Threatens Recovery: Gartner
Chief information officers, or CIOs, who often drive digital business strategy and IT innovation for financial services firms, “must align with business leader priorities” to ensure a coordinated COVID-19 response and recovery, according to the summary of a recent report from Gartner, Inc. Automation and technologies to sustain and improve remote work are two investment… Read More >>
