Protecting bank customers from losses due to bank outages

Questions surrounding assistance and protection Singapore bank customers. Monetary Authority Singapore requires financial institutions (FIs) to have robust systems and processes to ensure reliable delivery of services to their customers. In the event of a disruption, FIs are expected to restore the affected system as swiftly as possible and activate…

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Ways to strengthen security in IT supply chains, online banking, and blockchains

Represents more than half of all ICT investment by 2024. The Monetary Authority of Singapore’s (MAS) Cyber Security Advisory Panel (CSAP) , comprising of experts in cyber security from around the world, provided insights on how MAS and financial institutions (FIs) can bolster their cyber defences. The Panel supported the…

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Finance leaders plan to assess digital currencies for business in 2022

Sentiment towards digital currencies appears to be improving among finance leaders. A September 2021 survey of 251 CFOs and other finance leaders revealed that 47% intend to assess digital currencies for business in 2022, according to Gartner, Inc. A February poll centered on bitcoin adoption showed 84% of finance leaders said they…

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Standard Chartered launches digital portal with Demica

To accelerate supplier enrolment in supply chain finance programmes. Standard Chartered is partnering with Demica, a leading fintech specialising in working capital solutions, to transform access to the Bank’s supplier finance programmes, allowing easier enrolment for thousands of suppliers through an online portal while delivering a world-class experience for the…

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Driving financial transformation in South Korea and Taiwan

Open platform that accelerates collaboration and innovation in financial services. Finastra software provider for the financial sector and HCL Technologies has expanded their partnership to drive digital transformation across South Korea and Taiwan. As part of the engagement, HCL will use its next-generation digital transformation and service capabilities to bring…

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In-demand shared services skills for finance

Several locations have a strong supply of the most sought-after shared services skills. Accounting experience is the most commonly sought-after competency for finance shared services, according to Gartner, Inc. A Gartner TalentNeuron™ analysis of job postings in the finance and accounting function between July 2020 and July 2021 revealed the…

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Blue skies for financial services digitisation during COVID

Increased disruption forecast. The financial services industry is poised to ramp up digital solutions to deal with increased customer inquiries, remote working and better data use to inform decision making, a Deloitte Access Economics survey of the industry reveals. The Deloitte Access Economics report – Embracing cloud transformation: Benefits for the financial…

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The technologies transforming the finance sector

Jacqueline Loh deputy managing director Monetary Authority of Singapore talks about innovation. Innovation is transforming the financial sector. Digitalisation of financial services has made it easier for financial institutions to expand their global footprint, opened the door to new players, and set the stage for increasing cross-border connectivity. The adoption…

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2030: The new reality for financial services

What does 2030 look like for financial services? By 2030 the financial services landscape looks fundamentally different to what it did ten years ago. Digital transformation, evolving customer expectations and new entrants have long been disruptive forces in the financial services landscape. However, the COVID-19 pandemic accelerated the speed of…

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