Wolfsberg Principles on anti-bribery and corruption for financial services
New Wolfsberg Principles warn global banks of the risk factors that require Enhanced Due Diligence on a wide range of data The Wolfsberg Principles are widely regarded as authoritative guidance for how financial institutions should respond to the rising risks...
Stark reminder of the costs of compliance failure as US regulator fines telecoms firm after alleged Deferred Prosecution Agreement breach
A multinational telecommunications company has pleaded guilty to breaching the anti-bribery provisions of the US Foreign Corrupt Practices Act and must pay a $206 million penalty. In this blog, we look at the judgement by the US Department of Justice, and highlight...
4 Reasons for Integrating Third-Party Data in Financial Services Risk Management Workflows
Recent volatility in the financial services sector only reinforces how interconnected and complex global markets have become. Geopolitical and economic uncertainty, coupled with expanding regulation, makes navigating the turbulence even more challenging. Global...
How Third-Party Data APIs Help Financial Services Organizations Keep a Competitive Edge
Could 2023 be the year the world rebounds from the 2020 pandemic? The answer is “yes”, according to Deloitte , which predicts that “2023 could be the year the ‘new normal’ fully comes into view. There will be opportunities to help define the future, one in which...
4 Crucial Ways that Third-Party Data APIs Can Help Financial Services Organizations Become More Risk Resilient
In 2021, McKinsey, in collaboration with the Federation of European Risk Management Associations (FERMA), conducted a survey on resilience behavior and organizational management. Noting a “striking difference between corporates and financial services organizations...
How Adverse Media & Other Text-Based Data Helps Financial Services Organizations Stay on Top of Reputational Risk
What is your reputation worth? While reputation can be difficult to quantify, a study by the World Economic Forum suggests that more than 25% of market value can be attributed to an organization’s reputation. Particularly in the financial service industry, reputation...
4 Uses for Text-Based Data that Turns Insurance Market Intelligence into Valuable Insights that Enhance Decisions Across Your Business
A McKinsey article on use of AI in the insurance industry calls data and analytics capabilities “table stakes” in the sector in Europe and North America. The article notes that “External data are the ‘fuel’ that is unlocking the value of artificial intelligence...
What are the Benefits of Adding ESG News and Other Third-Party Data to Your Investment Analytics?
In recent years, financial services organizations have faced increased pressure to consider environmental, social, and governance (ESG) factors in their investment portfolios and strategies. It isn’t the first time. In the 1970’s, anti-war sentiment and concern...
5 Essential Types of Third-Party Data the Manufacturers Can Use Today to Fuel Innovation & Growth Tomorrow
Did you know that manufacturing leaders are 2.5 times more likely to put data and technology investments ahead of cost reduction efforts? There’s a good reason: Making data-driven decisions—supported by artificial intelligence applications—can help manufacturers...
Using Third-Party Data to Safeguard Your Reputation & Inform Decisions Across Your Entire Manufacturing Organization
“Any reinvigoration of US manufacturing will also require reinvention,” notes McKinsey & Company in its “ State of AI in 2022 ” report. The report goes on to explain that five years ago, manufacturers were seeing value from AI use in operations and risk management...
What is Unstructured Data? Examples of Unstructured Data and How to Use it For Key Business Insights
Futurist and data technology expert Bernard Marr notes that as much of 90% of data being generated daily is unstructured and the volume is growing at a rate of 55 to 65% a year. It represents mountains of data going largely unused, until recently. But as organizations...
Do the Values of Your Third Party Business Associates Align with Your ESG Commitments?
Environmental, social and governance (ESG) performance plays a critical role in how consumers, employees and investors are making business decisions. In fact, When Edelman released its 22 nd annual Trust Barometer this year, they found that 60% of employees and...
How AI, Machine Learning & Big Data Can Help Shape Your Bank’s Compliance Strategy
Wondering how to keep up with increasingly difficult regulatory compliance demands? See how banks are using AI and machine learning to streamline processes. Which financial institutions are most likely to thrive and lead in the future? The smart money says it...
How Banks are Using AI & Big Data to Sidestep Financial Crime Exposure
Concerned about the exposures created by exponential increases in data sources and partner vendors? See how banks are unlocking the power and efficiency of AI and big data to steer clear of financial crimes. Today's financial institutions have it tough. Compliance...
3 Ways that Timely, Third-Party Data Helps Manufacturers Identify Supply Chain Red Flags Faster
Supply chain risk is not a new phenomenon, but it has certainly intensified. As the pandemic began its global spread in early 2020, 94% of Fortune 1000 companies reported supply chain disruptions . Today, global supply chains continue to flounder, earning a spot...