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This Year’s AFP Guide Highlights Robotics in Finance

This post is written in reference to “AFP’s Guide to Emerging Technologies: Robotic Process Automation”, published in 2019. The AFP “Executive Guide to Emerging Technologies: Robotic Process Automation” for 2019 included an in-depth analysis of Robotic Process Automation, its prevalence in the financial industry, and the implications robotics have on the industry, its efficiency, and […]

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The Vanguard Group Testing the Use of Blockchain Technology in FX

The Vanguard Group, one of the world’s largest investment companies, has begun testing the use of blockchain technology in FX trading. It has been reported by Bloomberg that Vanguard has partnered with Symbiont, a blockchain technology provider, to create an FX trading platform that allows for peer-to-peer FX trading. Blockchains have had a growing presence […]

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The Digitalization and Use of Computer-Generated Algorithms in Banking Highlights Importance of FX Rate Integrity®

Although it has been disputed that banks should collaborate with fintechs in order to keep up with digitalization, recent news suggests otherwise. The Banker writes that as banks are beginning to keep up with the modernization and digitalization of the banking industry, many are ending their partnerships with existing fintechs. As banks had a hard […]

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The Emergence of Open Banking and APIs

By: Paola Gasca, Analyst References “Open Banking and the Future of Financial Services” published by MuleSoft Open banking is essentially a system that provides users with a network of a financial institution’s data using APIs (application programming interfaces). The idea of open banking is appealing to clients of financial institutions as it relies on a […]

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Prudential Financials’ Recent Acquisition Highlights the Influence of Digital Transformation in Business

This post references an article originally published by The Wall Street Journal on September 5, 2019 and an interview published in the Financial Times on August 28, 2019.  Prudential Financial Inc. has acquired online startup and life insurance provider Assurance IQ Inc. for $2.35 billion. The deal is an attempt by Prudential to combine their […]

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MarketAxess Success Highlights Rise of Automation in Trading

This post references an article originally published by the Financial Times on August 30, 2019. MarketAxess has qualified for the S&P 500 index of biggest U.S. companies, signaling a new era in trading. “The days of young men and women barking into phones to connect buyers and sellers are slipping away. Bonds are being traded […]

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EU Launches Investigation into Facebook and Libra

This post references an article originally published by the Financial Times on August 21, 2019.  Since its announcement earlier this year, Facebook’s Libra has been subject to skepticism—a fact that has not changed despite public support by major companies. Most recently, the currency has faced scrutiny by EU antitrust regulators, who have set out to […]

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U.K. Lawsuit Seeks Compensation for Losses in Foreign Exchange Transactions

This post references an article originally written by Kaye Wiggins for Bloomberg, published on July 29, 2019. In May it was reported that five banks were being fined $1.2 Billion by the European Commission on accounts of collusion on foreign exchange trading strategies. It is now being reported that a few of those same banks […]

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Amex’s FX Department Sought to Increase Revenue, Instead Became an Example of Dishonesty in the FX Market

This post references an article originally written by AnnaMaria Andriotis published by the Wall Street Journal on July 23, 2019. After a yearlong investigation regarding misrepresented FX prices, American Express has found themselves issuing refunds to nearly 200 customers. The refunds are the result of a surprising practice by Amex’s foreign exchange unit which “routinely […]

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Facebook’s Libra and the Call for Integrity

Facebook created Libra to serve as a “simple global currency and financial infrastructure that empowers billions of people” (Libra Association Members, 2019). The launch and integration of Libra hopes to expand accessibility to global payments, while at the same time bringing an increased sense of security, integrity, and responsibility into global payment systems. The irony […]