Displaying items by tag: Regulatory compliance

Artificial intelligence is changing the banking business, with major implications for both traditional and new banks. This shift in the banking industry from traditional, data-driven AI to sophisticated generative AI which offers unprecedented levels of efficiency and customer engagement. In the banking industry, generative AI has the potential to increase productivity by 5% and decrease worldwide spending by $300 billion, according to McKinsey's 2023 banking report. 

Global spend on identity and access management solutions is forecast to rise from US$16 billion in 2022 to $26 billion by 2027, representing an “absolute growth” of 62% over the next 5 years.

Spending on Regtech systems that enable banks and other heavily regulated sectors to meet their compliance burdens, will exceed US$130 billion in 2025, from US$33 billion in 2020, according to new report.

Cloud communications platform provider 8X8 has launched Contact Center for Microsoft Teams to deliver integrated customer engagement and global telephony direct routing that allows employees and contact centre agents to interact with customers from any Teams endpoint.

Concerns around security, privacy, cloud and technology resilience in the IT audit industry are being further fueled by shifting business priorities, the pandemic-induced remote work environment and accelerated deployment of new technologies entering into 2021, according to a new global survey.

Spending on technology products and services in Australia is forecast to total $93.7 billion this year - up 3 percent from 2018 - and to grow 4.6 percent to reach almost $98 billion in 2020, in contrast to a global slowdown in IT spending forecast by Gartner.

Interview with Eddie Stefanescu, Regional VP Business – APJ, Claroty

SPONSORED INTERVIEW with Eddie Stefanescu, Regional VP Business – APJ, Claroty

Accounting software provider Reckon’s chief executive Clive Rabie is stepping down to become managing director in the wake of the failed bid by competitor MYOB to acquire the company's Accountants Practice Management division.

Telecommunications industry lobby group Communications Alliance is not satisfied with the proposed changes to new regulatory rules on the handling of consumer complaints about telecommunications services.

Worldwide spending on Internet of Things (IOT) security is growing, with forecasts of reaching US$1.5 billion by the end of 2018, a 28% increase from spending of US$1.2 billion in 2017.

Ensuring the privacy of sensitive data is seemingly a problem for many companies, with a newly published study revealing that consumers should not feel confident those companies are adequately protecting their information.

IT services companies CSC and HCL Technologies have teamed up to launch a joint venture banking and software services company.

Australian businesses looking for cost efficiencies and an improved bottom-line are predicted to adopt cloud services in bigger numbers this year.

Australian businesses invested a record $3.26 billion in software in the second quarter of this year, reflecting what one industry player says is the rising importance of information technology to the economy overall and to the financial services sector in particular.

Australian and New Zealand CIOs are more inclined to outsource mainframe application development and testing rather than use in-house resources, according to a newly published global survey.

Australian organisations are expected to spend $372.9 million on BI platforms this year, while in New Zealand market revenue is forecast to hit NZ$61.7 million as BI sales are expected to increase by 7.4% across the entire Asia Pacific region.