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Connect with Refinitiv at Sibos 2019

James Cliffe
James Cliffe
Regional Managing Director, EMEA

“Thriving in a hyper-connected world” is the theme of Sibos 2019, which takes place at ExCeL London on 23-26 September. Refinitiv will be at this major financial services event to share insight on sustainable investing, financial crime and the future of finance.

  1. Sibos 2019 at ExCeL London will bring together some 8,000 business leaders, decision makers and topic experts from across the financial services industry.
  2. Insight from Refinitiv at Sibos 2019 will cover a number of key industry themes, including financial crime, sustainable leadership and the future of finance.
  3. Our experts will highlight how the combination of data, technology and human intelligence can help companies to meet various challenges in financial services.

Hosted by secure financial messaging services provider SWIFT, Sibos 2019 offers the financial services industry an unparalleled opportunity to network, showcase corporate expertise, share key insights, and collaborate for the benefit of the industry as a whole.

From somewhat humble beginnings in 1978 in Brussels, Sibos has grown from a largely European-based affair to a truly global collaboration, with over 8,000 executives and thought-leaders expected in London this September. Speakers include the CEOs of many global banks, as well as leading figures from across industry and commerce.

Refinitiv has a long history of Sibos participation, and we are proud to be part of this prestigious event again this year.

As the leading provider of data, analytics, trading, and risk assessment tools, Refinitiv insight at Sibos 2019 will see us explore a number of key themes, including financial crime, sustainable leadership, and the future of finance.

Watch: Meet Refinitiv at Sibos 2019

Financial crime

Refinitiv remains at the forefront of developing leading-edge solutions to pervasive financial crime, and we conduct ongoing and extensive research into this global phenomenon.

Our 2018 global survey focused heavily on the real impact of financial crime, not just on companies and governments but also on the countless human victims impacted across the globe on a daily basis.

Financial crime report 2019. Connect with Refinitiv at Sibos 2019

The survey highlighted the fact that many organizations deal with extensive supply chains. In fact, one in 10 had dealt with more than 10,000 third-party vendors, suppliers or partners during the 12 months preceding the survey.

These extensive networks present a host of challenges, and respondents revealed that only one-third of all relationships are fully screened, both at the onboarding stage and on an ongoing basis.

Given these significant gaps in formal compliance, it is unsurprising that 47 percent of organizations confirmed that they had fallen victim to financial crime in the year preceding the survey.

Our 2019 survey focused on innovation, and delved into the role of emerging technologies and new collaborations in the fight against financial crime.

This latest survey once again confirmed that financial crime remains pervasive: 72 percent of respondents were aware of such crime in their global operations during the 12 months preceding the survey.

Moreover, 51 percent of external relationships did not have an initial formal due diligence check at the onboarding stage, highlighting that compliance gaps persist, and that existing strategies for fighting financial crime are falling short of the mark.

This latest research demonstrated that innovation is the key to turning the tide on financial crime.

Financial criminals are increasingly sophisticated, and if organizations are to fight back with any measure of success, they need to harness the power of targeted technology, trusted data and human intelligence.

Sustainable leadership

A further key focus area for Refinitiv in 2019 is that of sustainable leadership.

Environmental crimes, such as illicit wildlife trade and illegal logging, are evident across the globe, but of greater concern is the fact that the scale of these crimes has risen exponentially in recent years.

ESG data. Connect with Refinitiv at Sibos 2019

Moreover, counting the cost of environmental crime is almost impossible.

The World Wildlife Fund estimates that the value of illegal wildlife trafficking is in the region of US$15-23 billion per annum, making it the fourth-largest illegal trade behind drugs, human trafficking and counterfeiting.

However, the economic cost of illicit activity is only one aspect of the overall picture. Ultimately, these crimes are systematically destroying our planet.

The connection between financial and environmental crimes is more than just tenuous — financial crime is contributing to and supporting both ongoing illegal activity relating to the environment, and human trafficking.

Individual organizations therefore have a critical role to play in rooting out corruption in their global supply chains, and in identifying and exposing financial crime.

The private sector can also play an invaluable role in actively promoting sustainable development in line with the UN’s Sustainable Development Goals. To achieve this, each individual organization must strive to make long-term decisions that drive positive change.

Harnessing the right tools can help organizations to make better investment decisions and build sustainability into their investment and business strategies, based on companies’ performance in critical areas such as climate change, diversity, business ethics, and corporate governance.

At Refinitiv, we are committed to promoting sustainable leadership across the globe and to developing leading edge tools to equip organizations to make better, more sustainable decisions every day.

The future of finance

The world of finance continues to transform — and is doing so in exponential time.

Unprecedented volumes of available data and constantly evolving technology are turning the traditional financial services landscape on its head.

Refinitiv is proud to be at the forefront of this development, and we are committed to finding ever-more efficient ways to combine the three critical elements of data, technology and human intelligence to deliver targeted tools to help companies fight crime, promote sustainable initiatives, and navigate the future of finance.

Clean, complete and reliable data is the starting point, because without data, organizations are powerless to form any meaningful view of risk. Fueled by trusted data, the right technology can help organizations to streamline processes; reduce the burden on compliance teams; pinpoint risk with accuracy; improve the customer experience; boost operational efficiency; and more.

Data and technology alone, however, can never replace human intelligence.

This view was overwhelmingly supported by respondents to our 2019 survey, with 86 percent saying that they believe humans are a necessary asset to source trusted data and train algorithms to create effective outputs.

Meet Refinitiv at Sibos 2019

Join Refinitiv at #Sibos this year, where we will be exploring these themes further.

We will be hosting some key activities, including:

  • Neill Penney, MD and Co-Head, Trading Proposition, Refinitiv, will be speaking on Monday, 23 September from 0900 on FX Markets: The balancing act between direct regulation, new technology and principles-based supervision. Venue: Main Conference, Conference South, Conference Room 5.
  • Neill will present again on Monday from 1330 on ‘Why liquidity in the FX markets is the next industry challenge’. Venue: Main Conference, Conference South, Conference Room 5.
  • A presentation on Qual-ID and drinks at the Refinitiv stand at 1530 on Tuesday, 24 September.
  • Gena Boutin, Director of Digital Identity Proposition, Refinitiv, will be speaking on Wednesday, 25 September from 1445 on digital identity. Venue: Open Theatre.
  • Kristin Hochstein, Head of Data Services, Refinitiv, will be speaking on Thursday, 26 September from 1400 on ‘How ISITC standards add value to thriving in a hyper-connected world’. Venue: Standards Forum, SWIFT, SWIFT Room 2.

In addition, our stand will feature four demo booths focusing on financial crime, digital identity, sustainable investment, and the future of finance.

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