Investment banks welcome public cloud adoption for innovation first, not cost reduction
GFT study reveals the banking industry is more excited by the disruptive potential of cloud computing than its ability to simply reduce costs.
Press releases & news
GFT study reveals the banking industry is more excited by the disruptive potential of cloud computing than its ability to simply reduce costs.
Grâce à cette acquisition, GFT entrera dans le marché canadien des assurances, élargira sa position dans le marché nord-américain et acquerra un nouveau site en Belgique. V-NEO développe des solutions de TI intégrées et met en œuvre des services Guidewire pour des sociétés d’assurances de premier plan au Canada, en Belgique et en France. 160 employés renforceront l’expertise sectorielle de GFT, mettant l’accent principalement sur les applications numériques dans les secteurs de l’assurance de biens, l’assurance risques divers et l’assurance-vie.
As a result of the acquisition, GFT will enter the Canadian insurance market, expand its market position in North America and gain a new site in Belgium. V-NEO develops integrated IT solutions and implements Guidewire services for leading insurance companies in Canada, Belgium and France. 160 employees will strengthen GFT’s industry expertise with a focus on digital applications within the property, casualty and life insurance sectors.
GFT & Bobsguide are hosting a webinar on Thursday May 17th entitled Open Banking- are you ready? A panel of industry experts will discuss the key building blocks for financial services as firms begin to construct their open banking strategies.
The GFT Group published its results for the first quarter of 2018 today. There was increased demand for projects based on new technologies, such as distributed ledger technologies, cloud, data analytics and artificial intelligence, in the first quarter of 2018. As a result, the GFT Group achieved quarter-on-quarter revenue growth of 5 percent to EUR 106.99 million and almost doubled earnings (EBITDA) to EUR 10.05 million. Compared to the strong first quarter of 2017 – which at the time was not yet impacted by the budget restrictions of two investment banking clients – revenue in the first quarter of 2018 was down by just 4 percent, while EBITDA rose by 1 percent.
GFT has featured in a report from Gartner released this month entitled ‘Market Guide for Blockchain Consulting and Proof-of-Concept Development Services’. As a leading Distributed Ledger Technology (DLT) and blockchain provider, GFT contributed to the final report and is one of the representative service providers listed in this Market Guide.
What will the financial world of tomorrow look like? Which solutions do our clients need to stay ahead of the competition? These are the key issues which we tackle on our “Mission: Digital Future”.
The GFT Group generated revenue of EUR 418.81 million in the financial year 2017 (2016: EUR 422.56 million) – just under 1 percent less than in the previous year. The guidance issued on 24 October 2017 of EUR 415 million for the financial year 2017 was thus slightly exceeded.
Everest Group analyses the main service providers for the financial industry based on a PEAK Matrix™ assessments with GFT positioned amongst the top 25 financial technology companies worldwide.
GFT has being placed as overall winner alongside Deutsche Bank in the ‘Best Fintech Partnership’ category at the Financial Innovation Awards 2017. Now celebrating 20 years of innovation, the Financial Innovation Awards from The London Institute of Banking & Finance are a globally recognised awards platform, showcasing the best innovation across the financial services industry.
Despite intensified cost-savings efforts by its investment banking clients, revenue in the first nine months was slightly up on the previous year. GFT once again enjoyed dynamic growth with digital solutions for retail banking clients in its Continental Europe segment.
In view of continued volatility in the financial services sector, the management of GFT Technologies SE (GFT) today announced plans to expand its business model, which was previously tailored to the needs of banks. At the same time, due to increased cost savings made by two clients in the field of investment banking during the fourth quarter, GFT has downgraded its revenue and earnings guidance for 2017.
GFT today announced the acquisition of Spanish IT company Mecanización de Empresas S.A. via its subsidiary GFT Iberia Holding S.A.U.
GFT announced a collaboration agreement with Sabis, Banco Sabadell’s IT company in Spain with worth 80 million euros in Spain.
Award recognises GFT for a successful retail banking initiative in Brazil, which offers customers a 100% digital onboarding and account management experience.
Based on dynamic growth in business with digital solutions in Continental Europe, the consolidated revenue of the GFT Group grows by 5 percent to EUR 217.77 million in first half of 2017 (H1/2016: EUR 208.03 million). GFT achieved organic growth of 3 percent in the first six months.
Following a successful first quarter of 2017, a decrease in revenue with two major investment banking customers in the UK and North America will have a negative effect on the business development of GFT Technologies SE. Therefore, management decided today to scale back its consolidated revenue guidance for the entire year 2017 from 450 million euros to 425 million euros.
Marika Lulay has been appointed Chief Executive Officer (CEO) of GFT Technologies SE and assumed responsibility for the company with effect from the end of the Annual General Meeting on 31 May 2017. Lulay succeeds Ulrich Dietz, who becomes Chairman of the Administrative Board, after 30 years at the helm of the IT company which he formed in 1987.
Based on the positive development of business in the first quarter with a consolidated revenue growth of 14 percent to EUR 111.10 million the GFT The digitalisation of business processes still remains as strongest growth driver.
The GFT Group today announced its preliminary and unaudited figures for the financial year 2016. With solid growth in revenue and earnings, the technology specialist for the financial services industry exceeded its full-year guidance slightly. The main growth driver was demand from retail banks for digitalisation solutions. In the Americas & UK division, growth was slowed by the reduced propensity of investment banks to invest in IT services.
In particular, GFT is one of the companies that will be based in ‘4 Years From Now’ (4YFN), the international gathering of tech entrepreneurs that will celebrate its fourth edition, which hopes to reach 20,000 attendees this year.
GFT, the global provider of advisory, business consulting, IT and software services to the financial sector, has announced an award win, alongside their client Banco Original in Brazil for “the most innovative business model of the financial industry”, according to the Executivos Financeiros, eFinance Awards 2016.
At today’s Administrative Board meeting of GFT Technologies SE (GFT), Ulrich Dietz – in agreement with the Administrative Board and of his own accord – resigned as Managing Director and Chief Executive Officer (CEO) of GFT Technologies SE with effect as of GFT’s Annual General Meeting on 31 May 2017. The new CEO will be Marika Lulay, who was unanimously appointed by the Administrative Board, also with effect as of 31 May 2017.
GFT has announced the opening of its new Digital Innovation Lab (LAB) at its headquarters in Sant Cugat del Vallès (Barcelona). The GFT LAB has been established to build a bridge between fintech firms and financial institutions.
The firm’s push into Retail Banking is accompanied by the appointment of Christian Ball as Head of Retail for the Atlantic Region.
GFT Technologies SE is expanding its 5,000 sq m offices in Fasanenhof, Stuttgart. The IT services provider also currently uses the offices as its corporate center, with room now expanding for the firm’s CODE_n SPACES innovation campus, a popular hotspot for the digital pioneer community.
GFT were proud to sponsor this weeks’ Blockchain Technology: The Future for Financial Services Infrastructure Summit in London. This City & Financial event in Canary Wharf, provided great insight towards addressing Blockchain technology from the user-led point of view and analysed its potential for the financial services industry.
GFT, the global provider of advisory, business consulting, IT and software services to the financial sector, has announced a collaboration with Lombard Risk, the leading vendor of enterprise collateral management solutions. key milestone in GFT’s strategy to service clients in the UK and North America.
The positive business trend of the first six months was continued in the third quarter. Strong demand from retail banks for solutions to digitalise their business processes was once again a major growth driver.
Together toward the future of digital banking. Effective immediately, Fidor AG and GFT Technologies SE have reinforced their cooperation and signed a strategic partnership agreement to focus on developing mobile financial and banking apps, as well as the related sales and marketing. It’s an initial step to shape the next generation of digital banking within a strong network.
GFT Technologies SE announced its results for the second quarter and first half of 2016 today. Following an expected development of business in the first quarter, GFT greatly accelerated its dynamic growth in the second quarter. This trend was driven mainly by the rising demand for solutions to digitise business processes in the financial services industry.
GFT’s Digital Banking Expert Survey 2016 reveals growing trust in digital technology. Banks are more confident and actively embracing change.
GFT has today announced the launch of its Regulatory Change Management Service, an award-winning solution that gives firms the ability to create an end-to-end tracking process to keep on top of their regulatory challenges.
The GFT Group signed an agreement today to acquire 100 per cent of shares in W.G. Systems Ltda. which represents Habber Tec International Group on the Brazilian market. The company runs all Brazil related activities under the trademark Habber Tec Brazil. The business process management (BPM), analytics, mobile and digital transformation specialist was established in 2000.
GFT has appointed Andrew Scotland as head of the newly created Agile & Continuous Delivery Practice.
Tim Brazier has joined GFT as Head of the newly created Application Simplification practice. Tim joins GFT from the Royal Bank of Scotland, where he was MD of Application Simplification. He has over 10 years’ experience working in consultancy as both a practice head and COO.
GFT is participating as premium partner in this year’s Global Female Leaders Summit taking place in Berlin, Germany, from April 17th to 19 th. GFT COO Marika Lulay will give a keynote speech on "Customer-driven innovation – A case for collaborative creativity". Gonzalo Ruiz de Villa from GFT Spain will moderate a panel discussion on “Disruptive Technology” as well as a think tank.
The GFT Group today announced its preliminary and unaudited figures for the fourth quarter and the full financial year 2015. The Group continued its dynamic development of the previous year in 2015 and once again achieved strong growth in revenue and earnings.
GFT, the leading provider of advisory, business consulting, IT and software services to the financial services community, today announces that it has appointed Reena Patel as a Principal Consultant within its growing Data practice.
Amolak S. Roopra has joined GFT, the leading provider of business, design and technology consulting to the financial services community, as Joint Post Trade Practice Lead.
GFT will attend the 4YFN event at the Mobile World Congress from 22-24 February (stand S12) under an initiative to forge contacts with tech startups.
Everything stays new! With the CODE_n new.New Festival, GFT Technologies SE is initiating a new event that will provide tangible evidence of the digital transformation in trending modern-day industries.
GFT's Chief Privacy Officer Ernst-Oliver Wilhelm has compiled the developments of the General Data Protection Regulation of the past decades.
Rob Gibbs has joined GFT as a Principal Consultant within the Legal, Regulatory & Compliance team.
Ever-evolving regulatory landscape, Big Data challenges and adapting cloud solutions continue to shape priorities for financial services companies
Tony Sodhi (Head of Legal, Regulatory and Compliance, GFT) will be a guest speaker at next week’s Bitkom Banking compliance event, taking place in Frankfurt, Germany.
GFT, the leading provider of business, design and technology consulting to the investment banking community, today announces the appointment of John Downing, Enterprise Architect and Programme Manager.
With the initiative, GFT will continue working with financial services firms to help them navigate through the constant demands of financial regulation, whilst innovating to meet the demands of the new era.
GFT has launched its commodities consensus computing prototype for clients, which demonstrates how it is possible to track physical commodities assets through the use of a distributed ledger-based business model.
GFT announces the arrival of Paul Harrington as a Principal Consultant within the Legal, Compliance & Regulatory practice team. He is a specialist in managing cultural change across all levels of an organisation and has an extensive background in diverse services.
The online strategic information platform AllAboutAlpha, have recently highlighted GFT’s thought leadership paper on the Fundamental Review of the Trading Book (FRTB), which was entitled ‘FRTB: The dawning of a new era for market risk management’.
The RBS Regulatory Change Management Solution developed by GFT has been recognised as the industry’s best regulatory solution at the 2015 Banking Technology Awards. These prestigious awards recognise excellence in the use of IT to solve the complex challenges facing the financial services industry.
The GFT Data Practice in the UK, led by Nick Weisfeld and Jon Cooke have teamed up with our Business Development Lead, Julian Eyre to develop an innovative Blockchain proof-of-concept. We have assembled a team of experts to begin development over the coming days.
In the third quarter of 2015, the GFT Group continued its dynamic development of the first half-year, achieving strong growth in revenue and earnings over the first nine months of 2015.
Oriol Pujol (Principal Consultant, GFT) will be speaking at this weeks ‘Best Execution in the context of MiFID II and Trading Innovation Conference’, which takes place in London on Wednesday 4th November 2015.
Until now, users of online banking have had to decide what is more important: ultimate security or maximum convenience? “Biometric processes offer significantly better security than long-established TAN options.
Today, GFT announces their partnership with the Enterprise Data Management (EDM) Council to support firms in the adoption of best practices for data management.
The two day conference, hosted by Fleming Europe, is on Thursday October 1st and Friday October 2nd and includes the appearance of collateral management specialist Nick Nicholls (Principal Consultant, GFT).
GFT will be sponsoring next week's European Banking summit on the Fundamental Review of the Trading Book (FRTB) which take place in Central London. The summit involves a two day conference and a one day workshop.
Editor Chris Kentouris writes about Basel III and how hedge fund managers must leverage prime brokers. GFT’s Herman Weintraub discusses the new risks that firms are facing.
GFT’s Herman Weintraub, executive director of the Alternative Investment Practice, chats with AllAboutAlpha about how Basel III is changing the game for hedge funds.
In the first half of 2015, GFT once again achieved significant increases in revenue and earnings and upgraded full-years´guidance.
GFT’s Herman Weintraub, executive director, Alternative Investment Practice, discusses how hedge funds can thrive in the new regulatory environment.
GFT Technologies AG today signed an agreement via its subsidiary GFT Iberia Holding S.A.U. to acquire Adesis Netlife S.L. (Adesis) and its subsidiaries. Adesis provides IT services and consulting for the development of integrated digital solutions with a special focus on the financial sector. Especially in the segment of digital banking, Adesis will expand GFT’s activities as well as its expertise.
The GFT Group today signed an agreement with Financière Valérien SAS regarding the sale of its emagine business division in the countries Germany, France and the UK. In Financière Valérien SAS the current management of emagine, headed by Jean-François Bodin, COO for emagine on the Executive Board of GFT Technologies AG, and the French financial investor MBO Partenaires will hold stakes on the completion of the transaction (closing). The transfer of ownership is planned for the third quarter of 2015. The two sides agreed not to disclose the purchase price.
Head of Business Consulting in GFT North America, Ami Grewal, sat down with Forbes to discuss the pitfalls and benefits of regulatory compliance.
Thomson Reuters, along with other leading online publications, have featured GFT’s recent survey results into the regulatory landscape. The results provided an extensive insight into how great the impact of regulatory change and compliance has been on global financial organisations.
At the Annual General Meeting of GFT Technologies AG on 23 June 2015, shareholders voted in favour of changing the company’s legal status to that of a European Company (Societas Europaea, SE). The proposal was adopted with a majority of over 99 percent. The modern, European and internationally recognised legal form underlines the global alignment of the GFT Group, whose around 3,500 employees operate in 11 countries around the world. The change will become effective on its entry in the Commercial Register and is expected to be completed in August 2015.
As part of our focus on regulation, we polled the market to find out how great the impact of regulatory change and compliance has been on global financial organisations.
Today, GFT, one of the world’s leading IT solutions and consultancy providers to the banking sector, releases the findings from a global research project aimed at uncovering the attitude of the global investment banking community to ‘The New Normal’ - a constant state of regulatory change.
The Securities Lending Times have featured an article by Jeremy Taylor (Head of Business Consulting UK GFT) entitled 'The New Normal' – living with continuous regulatory change in the financial markets’ in their ‘A focus on regulation’ monthly segment.
Sonia Whang, Head of Business Development, Capital Markets for GFT US was recently featured in an interview by AlphaPages. The interview focused on the partnership between GFT and Code to Work.
GFT’s Co-Heads of Data Practice in the UK, Nick Weisfeld and Jon Cooke, will be guest panellists at an upcoming Incisive Training conference course sponsored by Risk entitled ‘BCBS239: Implementation and Compliance’.
GFT, a leading provider of business and technology consulting to the financial services community, today announced its partnership with Code to Work, a new non-profit focused on closing the IT skills gap by sourcing and prequalifying diverse technical talent from non-traditional sources for large companies.
All the banks surveyed, across all national boundaries, agreed that it is customers who are driving the digitalisation of the financial sector. Customer satisfaction and customer loyalty in an increasingly fierce competitive environment is also high on the agenda with more than 90 per cent consensus. In order to increase their overall attractiveness to customers, the respondents believe that a multi-channel approach (online, mobile, branch) is the most important success factor, ahead of personalised services or choosing the right technology platform.
The Securities Lending Times have featured an article by Alan Morley entitled ‘BCBS239: removing manual workarounds’ in their ‘A focus on regulation’ monthly segment.
For decades, status quo reporting was the norm for financial institutions. Increased regulatory burdens and merger and acquisition activity also mean that the business structure of many firms has become significantly more complex.
The GFT Group continued its positive development of the financial year 2014 in the first quarter of 2015 and generated further strong growth in revenue and earnings. The implementation of compliance requirements and the trend towards digitising business processes in the banking industry were the main drivers in the field of IT consulting and services.
Last month the TABB Forum published an interview with Nick Weisfeld (Co-Head of Data Practice UK, GFT) where he discussed the latest trends and issues in data management, and what regulations are proving most troublesome.
Nick Nicholls (Principal Consultant, GFT) will be a panellist at next weeks’ AFB International Banking Conference. Nick will be speaking within a debate entitled “Intraday liquidity management overview, regulation drivers and responses.”
Tony analyses the challenges domestically significant investment banks (D-SIB) can expect to face in their BCBS239 compliance programmes and how they may be able to learn from the globally significant investment banks (G-SIB) experiences along the way.
Sectors such as the music industry and retail trade have already experienced it: the digitisation process is now gradually spreading to all areas of business and daily life. A panel of experts at CeBIT in Hanover discussed the growing pressure for innovation in the banking sector. The big question is: how will banks react to the changing market environment and how can digital technology improve the service experience for customers? A recently launched international study by GFT aims to provide answers.
Nick Nicholls (Principal Consultant, GFT) was a featured panellist at last week’s FTSE Global Markets T2S Seminar on Thursday March 19th. The event attracted a wide range of specialists from across the sector for an afternoon of debate and discussion on the possible impacts of T2S.
Nick Nicholls (Principal Consultant, GFT) will be a featured panellist at the FTSE Global Markets T2S Seminar on Thursday March 19th. The seminar is an afternoon event entitled ‘T2S: Transformation of the European Post Trade Landscape’, which sees T2S specialists debate the likely impact of T2S.
“Into the Internet of Things” is the motto of CODE_n hall 16 at CeBIT. 50 start-ups from around the world are showcasing their business models on the topic areas Industry 4.0, Digital Life, Smart City and Future Mobility. Today, the coveted CODE_n Award was presented.
GFT today announces the appointment of Nick Nicholls as a Principal Consultant, focussing on Business Architecture and Process Re-Engineering.
The competition for customers among banks is in full swing. Pure online banks and fintech startups are making life increasingly difficult for classically aligned banks on a growing number of fronts. However, those retail banks that invest now in their digital future and align their service portfolio with customer wishes stand a good chance of facing down the ever fiercer competition. GFT will be showing how bank branches might interact with customers in future with its “Context-Based Account Management” at the CeBIT computer fair (CODE_n hall 16 / D30, GFT stand 07).
For five days from March 16, everything will revolve around the motto “Into the Internet of Things” in the CODE_n hall 16 at CeBIT. 50 startups from around the world will be presenting their business models for the topic areas Industry 4.0, Digital Life, Smart City and Future Mobility. At the same time, visitors can look forward to a top-class conference program.
According to a recent representative survey by market research firm YouGov, almost one out of three want their bank to provide innovative services that make life easier. At CeBIT, GFT will be showing how digital services can create a new banking experience. The company’s Digital Banking Lab will feature live presentations on the trending topics “Intelligent Finance Management” and “Automated Account Optimising” (CODE_n hall 16 / D30, GFT booth 07).
The GFT Group today announced its preliminary and unaudited figures for the financial year 2014. With an increase in consolidated revenue of 38 percent to EUR 365.32 million (prev. year: EUR 264.29 million), the company displayed dynamic growth and exceeded its revenue target for 2014 by EUR 5.32 million. The significant year-on-year increase in revenue resulted from the strong organic growth of the GFT division with its solutions for the banking sector as well as from company acquisitions in Italy (Sempla, 2013) and the UK (Rule Financial, 2014).
The Securities Lending Times have featured an article by Emily Cates (Specialist in Operational Processing, GFT) entitled ‘T2S: overcoming the hurdles’ in their ‘A focus on regulation’ monthly segment. Emily analyses the challenges of Target2-Securities (T2S) and how Europe’s post-trading landscape is about to experience a dramatic change.
Three out of four Germans aged 18 to 39 do their banking online – and increasingly via mobile devices such as smartphones and tablets. Many of them rarely have any contact with bank staff. This is leading to a steady decline in customer loyalty – with fatal consequences for many retail banks. At CeBIT, GFT will be showing how banks can drive the digital transformation they so desperately need.
Following their recent release, there has been an extensive media reaction to the results of the GFT and the ICMA European Repo Council industry-wide survey into the market preparedness and industry attitudes towards Target2-Securities.
400 IoT startups from around the world submitted their business models and concepts for this year’s “Into the Internet of Things” CODE_n contest, 50 have made it to the final: they will be showcasing their innovative solutions in the four topic areas: Industry 4.0, Smart City, Future Mobility and Digital Life in the CODE_n Hall 16 at CeBIT from March 16-20, 2015.
GFT and the ICMA European Repo Council have released the results of an industry-wide survey to assess market preparedness and industry attitudes towards Target2-Securities. The survey results provide insights on industry participants’ current understanding of T2S, their level of practical engagement and their understanding of the consequences of T2S to their individual firms.
During the past 18 months there has been a mind-set shift within the investment banking community. The result has been that Chief Data Officers (CDOs) have now been elevated to key positions of responsibility.
The Trade Derivatives magazine has featured the views of two GFT specialists in their latest issue which is available both online and in print. Francis Cook and Tony Sodhi were cited for their views on trade reporting and OTC clearing respectively, with Francis having a full page feature.
GFT today announces that it has further strengthened its senior business consulting team with the appointment of Stephen Pigott as Managing Principal.
Business and IT consultancy Rule Financial has officially become GFT following its successful acquisition in June 2014 by the GFT Group.
The piece entitled ‘Regulation, regulation, regulation: the new normal?’ discusses what banks have learnt from the regulation processes of 2014 while also looking ahead to the challenges they face in 2015.
The GFT Group continued its positive development of the first half-year in the third quarter with strong growth in revenue and earnings. IT consulting and service activities for the financial sector were driven in particular by increased banking regulations and the digitisation of business processes.
It’s the start of something completely new in Stuttgart: CODE_n SPACES, an arena specially dedicated to innovation at the GFT Group’s new corporate center. Measuring 2,000 sq m, the arena gives startups, innovation teams at established companies, and creative thinkers all the space they need to dive into the task at hand and define the shape of things to come.
GFT, one of the world’s leading IT solutions providers for the financial services industry, today published a study examining the ’big data’ challenges facing the corporate, retail, institutional and insurance financial services sectors. Overall, the study finds that managing, marshalling and improving the overall quality of their enterprise and customer data and meeting ever-increasing regulatory requirements are top priorities for financial services firms.
The Securities Lending Times has cited recent research jointly undertaken by Rule Financial (Part of the GFT Group) and 4sight which shows that many financial firms are still to start preparations for collateral management of centrally cleared derivatives.
Emily Cates has featured in a Bloomberg Brief EMIR special report. As issues over EMIR compliance persist, Emily discusses the key challenges and the uncertainty surrounding the regulation.
The GFT Group continued its growth course in the first half of 2014 with an increase in revenue of 37 percent to EUR 156.74 million (prev. year: EUR 114.19 million). Adjusted for the revenue contribution of Sempla acquired in mid-2013 (now GFT Italia) amounting to EUR 22.53 million, the GFT Group achieved organic growth of 18 percent.
DerivSource have cited Francis Cook (Specialist in Regulatory Compliance, GFT) in a feature as industry experts offer last minute tips on EMIR compliance.
The International Capital Markets Association (ICMA) and GFT have today announced the launch of a joint survey into industry preparedness for and attitudes towards Target 2 Securities (T2S).
The 3rd Annual 'Big Data & Analytics for Financial Services Summit' began in London this week. GFT's Jon Warren and Jon Cooke attended the conference alongside colleagues from GFT.
GFT Technologies AG today signed an agreement via its subsidiary, GFT UK Limited, to acquire the UK-based company Rule Financial Limited and all its international subsidiaries. The parties agreed not to disclose the acquisition price. The transaction strengthens the GFT Group’s position as one of the leading IT service providers for the banking sector in Europe and North America.
The current scandal surrounding warehoused metals at the Chinese port of Qingdao has unveiled a worrying level of collateral risk. In an interview with the Wall Street Journal, Jeff Milligan notes that double-pledging of financial collateral is now being addressed by worldwide regulators.
GFT Capital Markets specialist Rob McGeachy delivered an interactive workshop on day two of the ProjectWorld Canada, entitled 'High performing teams’.
The 'Annual Securities Finance and Collateral Management conference’ is now into its 23rd year. This will be a fantastic opportunity to engage with the most pressing issues in the industry, catch up with old colleagues and take part in polls and discussion groups.
The Royal Bank of Scotland has announced that they will be shutting down their interest rate prime broking and clearing units, with rises in capital and operating costs seemingly to blame. In light of this, Jeremy Taylor suggests that RBS' decision merely represents the tip of the iceberg.
In a recent article by Banking Technology, Jeremy Taylor (Operational Processing and Derivatives specialist) examines the considerable challenges that MiFID II presents for firms and regulators alike.
The GFT Group continued its positive development of the second half of 2013 in the first quarter of 2014. The substantial year-on-year increase in revenue of 40 percent to EUR 77.72 million (prev. year: EUR 55.51 million) resulted from strong organic growth with solutions for the finance sector in the GFT division, as well as from the acquisition in mid 2013 of the Italian consultancy Sempla.
Agent lenders have traditionally provided an indemnification to their securities lending clients to protect them against counterparty default. The cost of this guarantee has been borne by the agent. However, every indication shows that as regulatory changes start to bite, the cost of indemnification is likely to increase dramatically.
Increasing regulatory control has been a hallmark of market developments over recent years. A large number of regulations have been introduced to reduce market risks and to ensure that they are measureable, controlled and reported, with the extension and dominance of the centrally cleared model.
Far reaching reforms to the world of OTC derivatives could lead to unexpected outcomes that will not manifest themselves until 2015 and beyond, says David Field (Senior Executive, GFT).
The Net Stable Funding Ratio (NSFR) is one of two new liquidity standards proposed in the Basel III guidelines, the other being the Liquidity Coverage Ratio. Each ratio assesses different aspects of measuring a firm’s liquidity and funding requirements.
There is no doubt that the industry has been slow in its reaction to BCBS 239. In his recent interview with Bloomberg Brief, John Barclay was keen to explore some of the reasons behind this. Additionally, he took the opportunity to outline a few of the key opportunities and challenges facing firms impacted by the Basel III principles.
Insurance fraudsters are becoming more and more professional. In many cases, the insurance companies have absolutely no way of detecting fraudulent claims. This is because they lack the database they need to identify patterns or establish striking connections to other insurance claims.
When a good customer suddenly becomes an ex-customer, the cries of dismay in many banks are loud: How could something like this happen? In most cases, there are warning signs - but the task of automatically spotting them amid the mass of daily data and interpreting them correctly has so far been virtually impossible. New Big Data solutions are now changing this. GFT is enabling banks to identify customers who are looking to leave, allowing them to quickly put countermeasures in place.
GFT Technologies AG today announced its preliminary and unaudited financial figures for the financial year 2013 (in addition to the ad-hoc announcement of 4 March 2014). With 15 percent growth in consolidated revenue to EUR 264.29 million (prev. year: EUR 230.69 million), the company exceeded its revenue target for 2013 by EUR 4.29 million.
A bank asks its customers what it could do to improve and then awards a prize for the best suggestions. Another includes its employees in the development of new service standards. The potential that open innovation yields for banks has been captured in a new study released by GFT, a leading international IT solutions providers to the financial sector.
In an interview with Global Custodian, Emily Cates (Operational Processing specialist, GFT) outlines the problems facing firms who have failed to comply with the European Market Infrastructure Regulation (EMIR) trade reporting mandate, which came into force today.
It’s on the tip of everyone’s tongues, yet there is still a lot of scepticism surrounding the use of big data in practice. And the uncertainty is as widespread among banks as it is among insurance companies. GFT Technologies AG, one of the world’s leading providers of IT solutions for the financial sector, wants to change this.
Following a planned development of revenue in the first half of 2013, the GFT Group stepped up the pace of growth significantly in the third quarter. Thanks to dynamic organic growth in the GFT Solutions division and the initial consolidation of the newly acquired Sempla S.r.l., consolidated revenue in the third quarter grew by 22 percent to EUR 71.25 million (prev. year: EUR 58.23 million).
A cashless society: the shape of things to come? Many predict a world without physical money. They are prepared to carry out all their banking transactions through mobile devices. But few are willing to completely do without personal interaction with advisors. These were findings of a recent study conducted by GFT Technologies. As part of its survey, the international IT solutions provider quizzed some 900 people – in Brazil, Germany, the UK, Spain and the United States.
Sempla, the Italian subsidiary of GFT Technologies AG, and Guidewire Software, a US-based international provider of software products to general insurers, announced today that Sempla has joined Guidewire PartnerConnect™ as an Affiliate member. PartnerConnect is Guidewire’s global program for strategic System Integrators and consulting alliance partners.
The GFT Group (GFT) closed the first six months of 2013 with solid revenue growth and a strong improvement in earnings. Consolidated revenue of EUR 114.19 million fell just short of the prior-year figure (EUR 116.38 million). Adjusted for the planned reduction in revenue from Third Party Management business of EUR 9.03 million, core business grew by 6 percent in the first six months.
GFT Technologies AG today concluded a purchase agreement via its subsidiary GFT Holding Italy S.r.l. regarding the acquisition of an 80-percent stake in Sempla S.r.l., based in Italy. The remaining 20 percent shall remain mainly with Sempla’s management and can be acquired by GFT via options after a five-year period. The purchase price is to be paid from liquid funds. The parties have agreed not to disclose the purchase price amount.
It may be a buzz word, but innovation is and always has been a passe-partout, a skeleton key to the door to future success. In the current age of global, digital economies, this has never been more true. Economic and social conditions have undergone such sweeping change in recent years, and so has the way we deal with concepts surrounding innovation. GFT has pulled together five theories on the nuts and bolts of innovation in a digital economy.
The GFT Group got off to a successful start in the first quarter of its financial year 2013. With consolidated revenue of EUR 55.51 million, the Group fell just short of the prior-year figure (EUR 57.65 million). Adjusted for the planned reduction in revenue from Third Party Management business of EUR 4.25 million, core business grew by 4 percent. Pre-tax earnings (EBT) improved by 22 percent to EUR 1.55 million (prev. year: EUR 1.27 million).
A recent study published by GFT Technologies – a Stuttgart-based, international IT solutions provider for the financial sector – sheds light on the rapidly growing mobile payment ecosystem and analyses the impact these developments are having on banks. One finding: much to their advantage, financial institutions possess a high level of credibility amongst customers.
They promise to save time and money by standardising transactions and direct debit payments across 32 European countries while also simplifying processes. But the clock is ticking and by the time the deadline arrives, companies must already have processes in place which adhere to the new guidelines. If they don’t, they risk delayed payments and follow-on costs. IT solutions provider GFT Technologies has now developed an app to guide companies step by step through SEPA compliance.
A collaboration between GFT Technologies and the University of Tübingen in Germany has resulted in the development of a new authentication process for online banking. The system involves using Near Field Communication (NFC) to share transaction codes directly with a smartphone to confirm payments.
GFT Technologies (GFT), leading provider of IT solutions to the banking sector, is showcasing its services on Stand D30 in Hall 16 at the CeBIT technology fair. Its focus this year is on ‘big data’. Drawing on examples of customer scoring and the real-time validation of risk parameters, GFT is demonstrating the new options open to companies to introduce risk provisioning based on future scenarios.
GFT Technologies AG (GFT) today announced its preliminary and unaudited financial figures for the financial year 2012. At EUR 230.69 million, consolidated revenue was down 15 percent on the previous year (EUR 272.38 million). The planned reduction of lower-margin Third Party Management business amounts to around EUR 50 million.
GFT Technologies AG, a strategic IT specialist for the finance industry, will be presenting pioneering solutions for bank consulting and payment transactions at the CeBIT fair. At GFT’s stand in Hall 16, there will also be new ideas to discover on the topic of “Mobile Business”.
The Stuttgart-based GFT Group has realigned its former “Resourcing” division, which has been operating as emagine GmbH since January 2013. GFT already expanded its international network of experts in the past year with the addition of engineering specialists. The company now also attracts an increasing number of clients in growth sectors such as Telecommunications, Transport and Energy.