The consolidation of securities settlement systems
In a big-bang migration approach for market participants, the ECB will introduce the consolidation of TARGET2 and TARGET2-Securities in November 2021.
Regulatory requirements will continue to determine the project agenda of financial service providers in the future.
Since the financial market crisis in 2007/08, banks and financial service providers have been almost continuously busy implementing a large number of new regulatory requirements. Policymakers and regulators are aiming to increase the capital adequacy of financial companies, to regulate the capital markets more strictly, to better protect investors and thus to stabilize the financial system as a whole, which is so important for all areas of the economy and life.
Show moreFollowing the financial markets directive MiFID II, the revised Capital Requirements Regulation (CRR II) and the Capital Requirements Directive (CRD V) will once again determine the project agenda of European banks in the coming years. In addition, further specific regulatory initiatives are foreseen or expected in areas such as IT security, outsourcing, risk management, and taxation.
Consileon has been a partner of banks and financial service providers in the implementation of regulatory requirements for many years. Starting with the initial strategic considerations, our clients rely on our banking expertise to analyze the impact of regulatory measures on banking operations. Our specialist and IT consultants adapt business processes and banking systems to the new regulatory framework – efficiently, customer-oriented, and sustainably. Targeted testing activities, comprehensible training for back-office and sales staff, and reliable rollout support round out our range of services.
With our support in the implementation of regulatory requirements, our customers can be sure that processes, documentation, and systems are adapted to the new regulatory conditions – on time and budget – and that they successfully meet the requirements of auditors and supervisory authorities.
Several departments of a financial institution are usually involved in the implementation of regulatory requirements. As an external service provider, Consileon coordinates requirements with each stakeholder as an independent project authority, harmonizes any diverging interests of the functions involved, develops proposed solutions and agrees them with all stakeholders. Our customers benefit from solutions that are accepted, supported and lived by all stakeholders. Added to this are measurable time savings and the associated savings in project costs.
As the past has shown, the implementation of regulatory requirements ties up a significant proportion of internal resources that financial companies lack for other forward-looking projects, for example in the area of digitization.
By involving Consileon as an experienced service provider in the implementation of regulatory requirements, you can reduce internal time budgets for regulatory projects to a tolerable level. This frees up key internal resources for day-to-day business and other projects.
The implementation of regulatory measures requires technical, methodical, and personal competencies from the responsible employees in order to translate requirements from “civil servant or lawyer German” into “banking language”. As an external service provider, Consileon supports various companies from all three banking pillars. When it comes to the fundamental interpretation of regulatory requirements, our clients benefit from internal coordination between project teams as well as from our connections to renowned legal and tax consultancies.
In a big-bang migration approach for market participants, the ECB will introduce the consolidation of TARGET2 and TARGET2-Securities in November 2021.
Investment decisions are no longer made in the classic triangle of return, risk and liquidity. As a fourth criterion, more and more investors are examining the socio-ecological sustainability of a commitment.
The business of asset managers has changed dramatically over the past ten years. Only the respective market leaders benefit from the triumph of passive products. The clients of active asset managers are becoming more demanding, the sales structures more complex.
And we can proudly say that our customers are very content with our services. I would like to present you some striking figures that underline this claim:
72 percent of our clients awarded at least one follow-up contract to our team.
64 percent of clients from Consileon’s first three years in business are still carrying out projects with us after almost 20 years.
91 percent of new customers from this sector were acquired through recommendations from other clients.
We would be happy to advise you on your questions in the area of banking regulation and many other topics from the world of finance.
Our Consileon expert will get back to you as soon as possible.
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