AI proves helpful for banks facing new cash penalties for settlement failures

According to one report, banks have been hit with penalties of up to €5 million per month under new CSDR settlement rules. As a result, banks are turning to AI to help.

Firms should not be quick to dismiss settlement failures, especially given regulators’ interest in preventing those failures.

The Settlement Discipline Regime phase of the European Union’s Central Securities Depositories Regulation (CSDR) that took effect on February 1, 2022, introduced new rules for cash penalties. According to fintech firm AccessFintech, banks were hit with penalties as high as €5 million ($5.4 million) per month. Firms could also be further squeezed by proposals to shorten

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Brown Brothers Harriman unifies busy suite of AI products

It’s a new world, contend BBH’s Kevin Welch and Josh Fine. After a few years of experimentation that yielded several AI products for the bank and its clients, it was time to put the puzzle pieces together to serve a different way of working post-Covid.

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