Category Archives: Financial Services

Scariest Risks of 2014

Scariest Risks 2014

As risk advisors, WillisWire bloggers tend to think less of ghouls and goblins during the Halloween season than of the frightening real risks our clients face. This year they faced more than their share of new ones, with ISIS, Ukraine, … Continue reading →

Millennials – Changing How We Bank

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Banks must evolve and tailor their service platform for the huge Millennial demographic--or face the disintermediation experienced by other industries. Continue reading →

Big Data for Banks: Friend, or Foe?

big-data

While the jury is still out on the matter, a realistic answer at the present time would most probably be “both”. In this blog, I will explore and share the rationale for why this is so and how to manage … Continue reading →

Safeguarding Asset Managers Against Mounting Cybersecurity Threats

safeguarding data

On 15 April 2014 the Securities and Exchange Commission Office of Compliance Inspections and Examinations (OCIE) released a cybersecurity initiative risk alert announcing it would be examining 50 registered broker-dealers and investment advisors to assess their cybersecurity preparedness. The announcement … Continue reading →

Stress Within the Financial Industry: Building Business Athletes

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The financial services sector has always had a reputation for being a highly pressurised and stressful working environment. Continue reading →

M-Payments – New Ways and New Risks in Moving Money

mobile payments

Electronic payment systems are nothing new. The first electronic payments were made over telegraph wires in the 19th century, hence still referring to ‘wire transfers’ today. Mobile-based payments (m-payments) are, however, a much more recent development. Continue reading →

To Bit or Not to Bit: Virtual Currencies, Real-World Risk

Bitcoins

What do Ashton Kutcher, Bill Miller, Marc Andreessen, the Winklevoss twins, and Daniel Master all have in common? They are all supporters, investors or owners of virtual currency. While bitcoin is the name we frequently hear, there are actually other … Continue reading →

Is International Hacking an Act of War?

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Historians will tell you that, despite the bloodshed in the Middle East and Africa, we are currently in one of the most peaceful periods in human existence. However, this era of ostensible peace has us wondering what future war will … Continue reading →

What Effect are New Regulatory Requirements Having on Risk and Insurance Managers?

overwhelmed risk manager

While I have been a broker for eight years, the 20-plus years I spent as a risk manager at a financial institution still dominate my outlook on issues. I will no longer fight it—resistance is futile! So welcome to my … Continue reading →

The End of Banking: De Novo No More

bank vanishing

In just 11 years, all banks in the U.S. will be gone. At least, that’s what extrapolating the current pace of bank consolidation would suggest. Less than 30 years ago there were over 18,000 banks; the FDIC reports that as … Continue reading →