London, 19th December 2018 – Delta Capita, the international FS consulting and managed services firm, has hired Tracey Allen to lead the client experience team for their KYC business line.  She will be based at Delta Capita’s UK headquarters in Canary Wharf, London.

With more than 15 years KYC industry experience, Allen most recently headed up the Client Experience team at Thomson Reuters, within their risk managed services division and prior to that, was an Executive Director within EMEA Client Onboarding at Goldman Sachs.

Earlier this year, Delta Capita and the industry leader in CLM technology Fenergo, announced their strategic partnership and their commitment to launch managed service solutions for solving client onboarding, regulatory compliance, and entity data management challenges.

Delta Capita, who recently ranked as Europe’s fastest growing FS professional services firm in the 2018 Financial Times 1000 index, has seen significant growth in its managed services solutions.  In 2017, Credit Suisse outsourced its EMEA structured products platform to Delta Capita, which now services several leading manufacturing banks.  In 2018, Delta Capita acquired Pall Mall, the non-financial risk and conduct advisory firm led by David Long, the former Credit Suisse EMEA Group COO, to spearhead a ‘first line of defence’ managed service proposition, which aims to significantly reduce control costs in the front office domain.

Allen commented “I am very pleased to be joining Delta Capita at such an exciting time.  They have achieved demonstrable success in establishing credible managed service propositions and are investing heavily in new services covering common banking functions and regulation such as KYC.  Their service model uniquely allows banks flexible access to industry best practice, expertise and modern technology, operated under a mutualised cost model.”

Allen added, “The economics no longer stack up for banks wanting to respond to common regulation in a proprietary way and I am convinced that managed service solutions are the only viable way forward for the industry.”

Joe Channer, Delta Capita, Founder & CEO, added “We are delighted that Tracey is joining our KYC managed services senior management team.  She is a recognised industry financial crime and client onboarding expert who will help us develop a service model that delivers a differentiating client experience.”

Tracey Allen

Tracey Allen

Many articles have been written and discussed on the Three Lines of Defence model. Some have theorised on its implementation and many have collectively discussed the challenges that organisations have faced, and a few have outlined why it may not be appropriate. However, that all said, the FCA’s 2017 review of Compliance found that all firms that participated in the survey had adopted the Three Lines of Defence model.

In this article, David Long, Charanpal Matharu and Nick Wilcock outline some key insights observed by the Non-Financial Risk Practice at Delta Capita. This may prompt organisations to review the effectiveness of their framework.

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26th November 2018 (London) Delta Capita, the international business & technology consulting and managed services firm, has announced its acquisition of Pall Mall Risk Reduction a London-based consultancy specialising in non-financial and conduct risk management for Banks and Investment firms.

Pall Mall Risk Reduction was established by three former senior executives from Credit Suisse, founded by David Long who held various senior positions at Credit Suisse during his 30 years at the bank. Most recently, David was head of Strategic Initiatives at Credit Suisse, a role that included planning for its business model after the Brexit referendum. Previously, he was also the Group Chief Operating Officer for the EMEA region.

The other co-founders of Pall Mall Risk Reduction include:

  • Nick Wilcock, who was latterly Deputy EMEA COO for Credit Suisse and formerly President of its Moscow bank during his 25 years at the bank.
  • Charanpal Matharu, who spent 13 years at Credit Suisse and was instrumental in pioneering the Front Office Supervisory practices and the First Line of Defence Controls Officer function within Global Markets.

The acquisition follows an impressive growth story at Delta Capita, who recently ranked as Europe’s fastest growing FS consulting firm in the 2018 Financial Times 1000 index. The timing of the acquisition will be welcomed by the industry as it braces itself for major transformational change and regulation such as Brexit readiness and an increased focus on non-financial risk management, which will have a very significant impact on industry participants.

Commenting on the acquisition, David Long said “We are very excited to be joining Delta Capita, our clients will benefit from the significantly increased capability and as skilled practitioners we are very much aligned to the DNA of Delta Capita. Combining Pall Mall Risk Reduction’s advisory business with Delta Capita’s proven technology and managed service capabilities will allow us to bring to market new innovative products and services that will greatly reduce the cost of control and compliance for our clients.”

Joe Channer, Delta Capita, Founder & CEO, added “This is a strategically important acquisition for Delta Capita, as we look to complement our financial risk practice with a non-financial risk capability to establish a complete advisory and managed services offering in the risk domain. The breaking up of the banking value chain is establishing new eco-systems that are being occupied by FinTechs, service providers and industry collaboration initiatives, all powered by adoption of modern technology and infrastructure. We believe non-financial and conduct risk management will dramatically benefit from this market evolution.”

Non-Financial Risk Practice Team

21st November 2018 (London) Delta Capita, a leading financial services business and technology consultant and managed services provider, has launched a new structured products issuance platform inSPire Direct.

inSPire Direct provides a single online platform for issuers to access a range of digital tools and expertise. This includes issuance workflow, document production, event monitoring and product analytics as well as distributor due diligence and product governance. By alleviating the burden of structured products issuance processes, the platform will allow issuers to be more responsive to changing client needs.

The launch comes after a rapid expansion of Delta Capita’s structured products managed services business. In response to client demand the firm is launching the new inSPire product range which brings together its expert managed services, inSPire Solutions, as well as the collaborative, issuer consortium-driven initiatives, inSPire Community.

Mark Aldous, Managing Director responsible for the inSPire product range, said:

“The structured products market is undergoing rapid change and issuers require access to specialist skills and technology to meet the demands.

Our approach is to bring issuers together to help solve common issuance challenges, share expertise and mutualise costs, while retaining their own unique offerings.

Our experienced team of structured product specialists provide a range of solutions for the front, middle and back office. The launch of our inSPire Direct platform allows clients to access these services online.”

Joe Channer, CEO, Delta Capita, said:

“The rapid growth in our Structured Products service reflects the enormous value the team offers to our clients.

Our inSPire team has an unrivalled combination of experience drawn from leading global issuers, innovative technology and a proven track record of executing complex projects involving multiple issuers.

Bringing all aspects of the service together under the inSPire product range is the next stage in the development of our global structured product services business.”

Payment glitches that cause shopping chaos during peak periods like Black Friday have become an all too common experience for South African consumers. South Africans have bitten the Black Friday bug that happens every year in late November, and which is typically followed by Cyber Monday. The craze has only become bigger with every year.

During Black Friday 2017, Standard Bank’s transaction volumes on its credit and debit cards spiked more than 100 percent compared with the same event the previous year. In 2016, Absa said its total customer issuing spend for the Black Friday weekend was just more than R1 billion.

It’s unsurprising then that with high transaction volumes comes higher risk.

In this article, Earl McCausland (DC Managing Director, South Africa) & Trevor Belstead (DC Head of Transaction Banking Solutions) discuss bloated legacy systems, and why banks should ultimately consider utilising transaction monitoring technology, which allows them to instantly locate missing payments and proactively avoid payment outages.

Click here to read the full article.

The impact of the replacement of Interbank Offer Rates or IBORs is far reaching both geographically and by the sheer volume and diversity of products that use them as benchmarks (estimated 300 trillion USD equivalent).

In this article, Jonathan Adams (Delta Capita Managing Principal: Securities Finance & Collateral Management) writes that the operational impact to the banks, asset managers, insurers and their respective clients that issue, sell and manage IBOR benchmarked products will be significant.

Click here to read the full article.

Delta Capita will be in Hong Kong & Singapore on 10th-20th September 2018 on our Asia Roadshow for:
#MLModelInterpretation, #ContagionRisk, #ModelWorkflowAutomation, #NLP on apps and large data sets.

  • Discover why Delta Capita is the #1 fastest growing financial consultancy firm in Europe.
  • See how our cutting edge solutions solve your Risk, Regulatory and Machine Learning/AI challenges.

Click here to learn more & contact us to reserve a space.

Every day we generate 2.5 quintillion bytes of new data and it is accelerating. Approximately 90% of the total data we have today has been generated in the last two years. Harnessing the power hiding in this ocean of data has become an absolute strategic imperative for all businesses and governments.

In his recent article, Ricardo Cruz (Senior Consultant at Delta Capita) explains why machine learning is very much at the centre of this revolution, and how the last few years has seen an explosion of research and promising practical applications across a very broad spectrum of problems and industries… and Financial services are no exception.

Click here to read the full article.

Dublin and London, 17 May 2018 Fenergo, the leading provider of Client Lifecycle Management technology solutions for financial institutions spanning asset management, investment, corporate, retail and private banks, has announced a strategic partnership with Delta Capita, the international business and technology consulting and managed service provider.  This strategic partnership will provide the financial industry with new managed service solutions for solving client onboarding, regulatory compliance, and entity data management challenges.

Fenergo and Delta Capita are delivering the “Powered by Fenergo” remediation offering to address the significant market demand for remediation services by financial institutions.  Both parties consider that the successful provision of this offering will act as a catalyst to the subsequent adoption of Fenergo CLM as either an onsite solution or incorporated as part of an outsourced packaged managed service delivered by Delta Capita.

Delta Capita has announced a strategic partnership with Fenergo

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An often overlooked critical competency of an organisation is its adaptability – the capacity of an organisation to effectively respond to new demands and circumstances, whether it’s customer-, regulator- or technology-driven.

Onno Bloemers (Delta Capita Insurance Lead) writes that while stability used to be everything in financial services and insurance, agility is nowadays an increasingly important quality.

Click here to learn more about a recent study benchmarking organisational change in Financial Services in the Netherlands, and some interesting findings drawn from the results.

Fintech Circle - Lack of Organisational Adaptability Threatens Digital Transformation