As Asia’s dynamic markets demand risk management attention and expertise, financial firms rush to fill a talent gap, with particular urgency in China. Three years ago, when Yang Haitao, an experienced financial risk manager, moved to Shanghai to join Nanyang Commercial Bank (China), he knew it was going to be more than a routine job […]
The Great Risk Race Read More »
Changes to revenue recognition rules may be beneficial but will lead to accounting headaches that new software can relieve. Last September, regulators issued new revenue recognition rules that allow companies to book product and service sales separately–a boost for the balance sheet, but a big accounting hassle. Prior to the new rules, effective 1Q of
New software products aim to help companies get the whip hand over ubiquitous but risky spreadsheets. Concur Technologies helps companies automate the processes by which they manage employee travel and entertainment spending, but some of its own processes aren’t fully automated. “We’re like everyone,” says Terry DePolo, Concur’s director of accounting. “We’re trying to minimize
Taming Spreadsheets Read More »
HSBC’s Swiss subsidiary HSBC Private Bank SA admitted Thursday that a former employee stole records on 15,000 clients and passed them to French government authorities.
HSBC Admits Data Loss, Apologizes to Customers Read More »
Most financial companies have “vast gaps” in their privacy and data protection programs, according to a study released this week by security firm Compuware and Ponemon Institute, a research company. The survey found that 83 percent of companies use real customer data in development and testing – and 51 percent of those who do so,
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With a preference for service-oriented architectures (SOA), the U.S. market is the furthest ahead in deployments of SOA-based policy administration systems, but companies in other parts of the world are starting to catch up
A Global View of SOA-based Policy Admin Systems Read More »
Let the worries begin. The European Commission Thursday approved the $7.4 billion merger between database giant Oracle and long-time Wall Street denizen Sun Microsystems
Oracle Closes in on Sun, Wall Street Worries Read More »
Citi has begun rolling out its CitiDirect BE institutional online banking platform. CitiDirect BE–short for “Banking Evolution”–is a wholesale rebuild of its existing CitiDirect platform, which was launched in 1999.
Citi Launches Banking Portal Extreme Makeover Read More »
Bank of America’s new cash management portal, CashPro Online, will provide corporate treasury customers with better administrative tools and security, as well as access to more services, including foreign exchange and supply chain financing, and customizable dashboards.
Bank of America Rolls Out New Cash Portal Read More »
SunGard is set to launch on Sept. 22 a cloud-based, treasury-on-demand product for companies with up to $2 billion in revenue.
SunGard Cloud Offering Set to Launch Read More »
Treasury departments where manual processes are still prevalent are struggling with getting timely information on accounts receivable, according to a recent report from Boston consultancy Aite Group. That slow stream of data on payments impedes a company’s ability to accurately forecast cash flows, which has become critical in uncertain economic times. For example, paper checks
Manual AR Slows Cash Forecasting Read More »
After getting frustrated with his previous customer relationship system–a desktop software package–Bob Barry, president of Barry Capital Management Inc., switched to Salesforce.com
Dark Clouds: Demanding an End to Outages of Online Services Read More »
The recent financial crisis has demonstrated that securities firms need to change the way they approach risk, needing now to consider a wider variety of economic scenarios and to evaluate risk in an enterprise-wide holistic way. To date, most securities firms have focused on segments of risk, said Richard Thornton, a manager with the London-based
Enterprise Risk Management: Getting Holistic Read More »
Earlier this month, a hacker reportedly exploited a vulnerability in an Internet-based virtualization software platform that took down more than 100,000 Web sites and other applications. “That was an intrusion that was cloud-specific–it went through a virtualized vulnerability,” said Jim Reavis, founder of the Cloud Security Alliance, an industry group representing risk managers at financial
Is It Safe In The Clouds? Read More »
The promise of cloud computing is that a company can easily scale applications up or down, or move them from internal to external locations, to match demand, optimize performance, or lower costs. In practice, however, users may find themselves trapped in a relationship with a particular cloud vendor, unable to move applications to internal servers
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