J.P. Morgan is expanding its use of Acin’s operational risk platform to cover its global markets business.
The US banking group has deployed Acin’s SaaS (Software-as-a-Service) solution to create a digitized platform and peer-to-peer network for operational risk management which enables it to access benchmarking data for risks and controls.
The expanded use agreement comes after a two year partnership with Acin, which has focussed on using the company’s technology platform within a subset of the trading businesses.
J.P. Morgan said that by by expanding the scope of use, it will be able to further validate aspects of ongoing operational risk management and assessment.
This will be achieved via Acin’s industry benchmarking capability, through which customers can continuously assess risk and controls against anonymized peer data.
Jamie Hamilton, global head of markets business control management at J.P. Morgan said: “Our established operational risk management frameworks enable the firm to monitor key areas of risk. The Acin platform and network will enable additional efficiency and a further source of practical validation.”
Latest News
-
UBS appoints chief AI officer to boost AI strategy
-
HSBC rolls out acquiring platform
-
Frasers Group uses ACP to complete direct purchases within genAI chatbots
-
BBVA’s bid for Sabadell collapses as chairman Carlos Torres vows to stay
-
Deutsche Bank, ING and Santander join Mastercard cyber defence exercise
-
Santander to merge Openbank and Santander Consumer Finance
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.
Unleashing generative AI: A force multiplier for financial crime teams
This FStech webinar, sponsored by NICE Actimize sees industry experts examine the revolutionary impact of generative AI on financial crime operations, and provides actionable insights to enhance your compliance strategies.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories