20 Sep 2018
On 13th September, the final regulatory technical standards (RTS) on settlement discipline were finally published in the Official Journal of the European Union following numerous delays. With the RTS on internalised settlements reporting finalised in March 2017, many firms in the industry have been greatly anticipating its publication. Central Securities Depositories (CSDs), custodians and investment firms in the context of securities settlement now have two years to implement and fully comply with the technical standards.
Fascinating day yesterday at the Financial Times Digital Energy Summit. My key takeaways were, in no particular order:
19 Sep 2018
Why is it important?
First, it’s a matter of scale. A large percentage of an organisation’s customer base will be in vulnerable circumstances at some point in their lives. A few figures from the FCA’s Occasional Paper on Consumer Vulnerability highlight that in the UK:
For energy suppliers in particular, the end-to-end lifecycle of a customer is underpinned by a large number of high volume, transactional and repetitive processes. Across the UK, thousands of meter reads are obtained every day, bills are sent, and the associated data is reconciled across a number of disparate systems. Automation offers an opportunity for energy suppliers to deliver step change in efficiency and the associated customer experience quickly, cheaply and to a high standard.
05 Sep 2018
Demands on established energy companies mean that some are now making a loss from significant segments of their customer base. Incremental cost reduction is no longer sufficient; a step change is required – suppliers need to drive truly transformational efficiency across the enterprise. With a myriad of transformative options often available, the challenge can be where to start, and what to do first.