Dublin
03 February 2017
Reporter: Stephanie Palmer
Deloitte and Irish Funds explore blockchain for regs
Irish Funds is working with Deloitte and a handful of industry participants to develop a blockchain proof-of-concept for regulatory reporting.

The project will focus on resident investment fund returns under the Money Market and Investment Funds Returns Reporting regulation, and is intended to result in a reporting platform that is easily accessible to both reporting entities and the regulator.

The platform will be developed in Deloitte’s new EMEA Grid Blockchain Lab in Dublin, with help from representatives from the likes of Northern Trust, State Street and Metzler.

Once developed, the platform will test the application of blockchain for improving compliance and transparency, and is intended to help determine the cost benefits of using blockchain for this kind of reporting.

Pat Lardner, CEO of Irish Funds, said: “Regulatory reporting is a key obligation for our members and an area of priority focus for the Central Bank of Ireland in 2017. This project and the development of the proof of concept with Deloitte will benefit industry, the regulator and demonstrates how Ireland is actively embracing financial technology.”

David Dalton, head of financial services at Deloitte Ireland and a sponsor of the EMEA Grid Blockchain Hub, commented: “We are delighted to be working with Irish Funds and their members in demonstrating the value of blockchain technology in investment management, blockchain technology has huge potential in financial services to reduce cost and improve efficiency. This is an important step in bringing this to reality.”

More technology news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Wolters Kluwer wins Russian reporting mandate
24 March 2017 | Moscow | Reporter: Stephanie Palmer
Nordea Bank Russia is set to go live with the Wolters Kluwer OneSumX Risk and Management Information Systems (MIS) reporting solution
SIX unveils DLT bond issuance solution
17 March 2017 | Zurich | Reporter: Katherine Brown
SIX Securities Services has created a distributed ledger technology solution to cover the entire bond lifecycle, from issuance to settlement, in partnership with Digital Asset Holdings
Asset management IT department’s role will change
15 March 2017 | London | Reporter: Barney Dixon
The IT departments of asset managers may see sweeping changes to their roles in the next 10 years
Cultural battle being waged over data
15 March 2017 | London | Reporter: Barney Dixon
Efficient data management in financial institutions is a cultural battle that is still being fought, heard attendees of the Summit for Asset Management
Robot out of it, say asset managers
15 March 2017 | London | Reporter: Stephanie Palmer
Traditional wealth management providers have nothing to fear from robo advisors, according to panellists at TSAM
Indata upgrades in MiFID II prep
14 March 2017 | Greenwich, Connecticut | Reporter: Stephanie Palmer
Software and technology provider Indata has upgraded its iPM Epic software suite in order to improve functionality ahead of the implementation of MiFID II
FCA and JFSA in innovative partnership
10 March 2017 | London | Reporter: Stephanie Palmer
Financial regulators in Japan and the UK have agreed on a cooperation framework to support financial technology companies in entering each market
More technology news