Blog

Business – Making the Shade
30/04/2020

With standard daily activities having come to a halt and personal tragedies impacting so many, the COVID-19 crisis has raised questions about how the business world is adapting and how the wheels of industry will continue to turn. There will be changes that reverberate for many years, but today, how are firms planning for the future with regard to financial software solutions? What’s Happening Now? Implementation projects are continuing apace with…

Rethinking the Client Digital Customer Journey – the difference between success and failure
29/04/2020

Following on from previous posts, we now look at ways banking and insurance service providers can set themselves up for post pandemic success, the problems you may find in the new digital first world. Also we talk about how you can set yourselves up for a successful launch if you work with the right technology partner. PROBLEM The current need for staying at home and closure of all but non-essential services, like…

Central Banks responses to COVID-19: Having the right Collateral Management System makes the difference
28/04/2020

As VERMEG mentioned in a previous article published in the Central Banking magazine, Central Banks have been impacted over the past decade by several drivers of change and remain under the constraint of being impacted again at any point as managing uncertainty remains the leitmotif of their activity. Central Banks must be able to respond swiftly to any new change that may impact the economy and must be prepared for all…

VERMEG offers UK Regulatory Reporting service free of charge during COVID-19 crisis
27/04/2020

Further to our announcement last week that we would be making the XBRL Checker service available free of charge during the COVID-19 crisis. VERMEG is now also offering a Cloud Based Regulatory Reporting service free of charge for firms that may need assistance with their reporting in the ongoing situation. AgileREPORTER Cloud will allow UK firms to create, validate and submit the full range of Statistical, Capital and Liquidity returns…

Why should the firms aim for a centralised collateral management infrastructure?
23/04/2020

Collateral Management Question Series Many organisations still operate separate collateral pools to manage margin. Often this means the structure does not enable margin netting and compression to realise collateral and cost efficiencies for revenue-generation opportunities and can result in sub-optimal use of collateral inventory. If you include bilateral margin calls and settlement liquidity, then there is potential to utilise your triparty collateral arrangements to service a wider pool of business needs. The…

VERMEG offers XBRL service free of charge during COVID-19 crisis
22/04/2020

As the UK lockdown continues as a result of the continuing COVID-19 situation, VERMEG is offering services free of charge to assist the financial community in this time of crisis. The first of these offerings is our XBRL Checker. The solution allows firms to upload XBRL output produced for the purposes of COREP, FINREP and PRA reporting and render this data in the original format of the respective template -…

PRA advises UK banks to use liquidity and capital buffers to continue supporting customers
21/04/2020

The PRA have released a statement and Q&A advising banks that they should use their capital and liquidity buffers to support customers and the UK economy. Banks are required to have substantial liquidity buffers – cash and short-term bonds in order to repay short term obligations as they fall due, at a level well over 100%. In the Q&A, the PRA have stated “During this time of Covid-19 related disruption to the…

A View on the CARE Act & Interagency Statement by US Regulatory Agencies
17/04/2020

The impact of the coronavirus is everywhere, including the regulatory reporting world. Aside from the challenges for institutions of making sure that filings are made accurately and on-time with more people working remotely than ever before, the regulatory agencies themselves have had to work to clarify the impact of the Coronavirus Aid, Relief, and Economic Security (CARES) Act and its interaction with Troubled Debt Restructurings (section 4013) as well as their views on…

What are the key trends within the collateral space right now
16/04/2020

Automation, connectivity and both pre- and post-trade optimisation are without a doubt the four key trends in the collateral space right now. The need for greater automation is prevalent due to the increase in margin call volumes and potential disputes created by UMR and COVID-19. By automating the margin workflow via COLLINE’s straight-through processing rules, the collateral management process becomes one of exception management. Automation enables margin managers to concentrate…

Getting prepared for helping your clients and customers as they recover from the pandemic
15/04/2020

While economists ponder what shape the economic recovery will be post-pandemic, in the financial services world it has been remarkable seeing how organisations are adopting new working practices unimagined at the start of 2020. One interesting observation is that co-working spaces are now facing major issues as teams are all working from home, as noted by Sifted. Contact centres must temporarily lock their doors and spend on buying laptops so their teams…