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Increased Personal Liability has been good for the UK Financial Services
The Senior Managers & Certification Regime (SMCR) has already had a positive impact on the financial services sector, according to a survey of nearly 200 senior financial services executives polled by Duff & Phelps. 55% believe the SMCR has positively affected the banking and alternative investment communities, whilst just 15% say it has had a negative impact.
With the first anniversary of the regime on March 7, firms have seen a real change in culture over the last year in what might now be considered a watershed regulation for the UK financial services sector.
Monique Melis, Managing Director and Service Line Head, Regulatory Consulting comments on the findings:
“The threat of personal sanctions is ensuring compliance functions put their duties before other considerations. Where managers fail to support them, they themselves may face penalties. We have seen SMR start to change the way compliance departments budget. They are not just counting compliance costs, but the costs of hiring a replacement compliance officer or interim staff, for regulatory penalties and remediation in cases of failure, and for their own personal liability if things go wrong. In short, this regime may have been a game-changer after all. Almost a decade after the financial crisis, cultural change in financial services is finally starting to happen.”
- Allvue and RSM Launch Industry-first Agentic AI Operating Model for Capital Calls Read more
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- Bulldog Federal Credit Union Partners with FMSI to Modernize Branch Experience Read more
- ParaScript® Partners with ABBYY to Deliver End-to-End Document Intelligence Read more
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Allvue and RSM Launch Industry-first Agentic AI Operating Model for Capital Calls
Allvue Systems, LLC (“Allvue”), a leading technology provider for the private capital markets, and RSM US LLP (“RSM”), a leading provider of assurance, tax and consulting services for the middle market, today announced a strategic alliance to launch the industry’s first-of-its-kind Agentic AI Capital Operating Model. The model will redefine how quickly and efficiently capital calls are executed and governed across private capital firms using agentic AI orchestration.
Batsheva Moshe Has Been Appointed GM Israel Market & EMEA Tech at Kaltura
Batsheva Moshe has been appointed to GM Israel market and EMEA Tech at Kaltura, the Agentic Digital Experience company. In her new role, Batsheva will lead Kaltura’s Go-To-Market operations in Israel, overseeing sales strategy, field sales, and strategic partnerships. Additionally, she will spearhead the company’s growth and expansion within the technology sector across the EMEA region.
Bulldog Federal Credit Union Partners with FMSI to Modernize Branch Experience
FMSI, a provider of branch workforce management and lobby optimization solutions for financial institutions, today announced a new partnership with Bulldog Federal Credit Union, a community-chartered credit union serving Washington County, Maryland since 1968.
ParaScript® Partners with ABBYY to Deliver End-to-End Document Intelligence
ParaScript, an AI-powered document processing company, today announced an alliance with ABBYY, combining ABBYY’s OCR and intelligent document processing (IDP) platform with ParaScript’s handwriting recognition and fraud detection capabilities to deliver a unified document intelligence solution that improves accuracy, reduces manual review and strengthens fraud prevention.
Addepar Introduces ADX, Enabling Data Activation and AI at Scale
Addepar, a global data and AI platform for investment professionals, today announced the launch of Addepar Data Exchange (ADX), a managed data environment within the Addepar platform that enables firms to unify, govern and activate their data to power investment workflows, analytics and AI at scale.
Bitget Launches Scan to Pay for Instant Payments via USDT
Bitget, the world’s largest Universal Exchange (UEX), has introduced its Scan to Pay feature on Bitget Pay, enabling users to spend USDT directly at offline merchants by scanning QR codes through the Bitget App.
Reserv Announces $125 Million Series C Financing Led by KKR to Accelerate AI-Driven Transformation of Insurance Claims
Reserv announced a $125 million Series C funding round led by KKR, with participation from existing investors
Allvue and RSM Launch Industry-first Agentic AI Operating Model for Capital Calls
Allvue Systems, LLC (“Allvue”), a leading technology provider for the private capital markets, and RSM US LLP (“RSM”), a leading provider of assurance, tax and consulting services for the middle market, today announced a strategic alliance to launch the industry’s first-of-its-kind Agentic AI Capital Operating Model. The model will redefine how quickly and efficiently capital calls are executed and governed across private capital firms using agentic AI orchestration.
Batsheva Moshe Has Been Appointed GM Israel Market & EMEA Tech at Kaltura
Batsheva Moshe has been appointed to GM Israel market and EMEA Tech at Kaltura, the Agentic Digital Experience company. In her new role, Batsheva will lead Kaltura’s Go-To-Market operations in Israel, overseeing sales strategy, field sales, and strategic partnerships. Additionally, she will spearhead the company’s growth and expansion within the technology sector across the EMEA region.
Bulldog Federal Credit Union Partners with FMSI to Modernize Branch Experience
FMSI, a provider of branch workforce management and lobby optimization solutions for financial institutions, today announced a new partnership with Bulldog Federal Credit Union, a community-chartered credit union serving Washington County, Maryland since 1968.
ParaScript® Partners with ABBYY to Deliver End-to-End Document Intelligence
ParaScript, an AI-powered document processing company, today announced an alliance with ABBYY, combining ABBYY’s OCR and intelligent document processing (IDP) platform with ParaScript’s handwriting recognition and fraud detection capabilities to deliver a unified document intelligence solution that improves accuracy, reduces manual review and strengthens fraud prevention.
Addepar Introduces ADX, Enabling Data Activation and AI at Scale
Addepar, a global data and AI platform for investment professionals, today announced the launch of Addepar Data Exchange (ADX), a managed data environment within the Addepar platform that enables firms to unify, govern and activate their data to power investment workflows, analytics and AI at scale.
Bitget Launches Scan to Pay for Instant Payments via USDT
Bitget, the world’s largest Universal Exchange (UEX), has introduced its Scan to Pay feature on Bitget Pay, enabling users to spend USDT directly at offline merchants by scanning QR codes through the Bitget App.
Sustainable Innovation and the Commercialisation of Stablecoins
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