Industry initiative has condensed over 300,000 data points required by MAS 610 into 1,000 re-useable business concepts, simplifying and streamlining compliance with the reporting mandate. AxiomSL has completed the launch of its Open Taxonomy project, an industry initiative which sought to simplify and streamline compliance for financial institutions with the MAS 610 reporting mandate. MAS 610 will require a sharp increase in the granularity and frequency of data reporting, encompassing over...

New Zealand’s FMA has granted an exemption allowing Nikko to enter the robo-advice market; new digital platform to be launched later this year. Nikko Asset Management New Zealand has announced it has been granted an exemption by the FMA (Financial Markets Authority), allowing the company to offer robo-advice services. The exemption makes Nikko the second financial services provider in the country to enter the robo-advisory market, following an FMA decision last October to grant exemptions...

Developed in collaboration with the Korea Federation of Banks, BankSign allows customers to use multiple banks’ mobile apps, once a co-verification certificate is obtained from a single bank.

In a new report, Quinlan & Associates suggests successful adoption and effective utilisation of cloud technology can help banks achieve a 1-2 percent revenue boost and a 2 percent reduction in overall costs. A new report by financial services strategy consultancy Quinlan & Associates suggests that increased investment in cloud technology could reduce IT-related costs at banks by about 20 percent over the next five years. The report, which explores the uses and applications of cloud technology...

New research from State Street has identified access to distribution data as a major challenge for asset managers; understanding the impact of local regulation on strategy the biggest challenge for product launches. State Street has released its findings from research surveying asset managers globally and analysing the sector’s development of cross-border strategies, including the factors influencing their choice of fund vehicle, passport and domicile location. The survey found that 64...