External News

Risk South Africa in Cape Town - 13th of November (https://events.risk.net/risksouthafrica)

The reference rate reform and the associated transition are considered as some of the broadest-reaching changes in the financial system since the global financial crisis. Graham Bruce, Associate Partner at TNP, will be leading the discussion at the IBOR panel for the 2019 Risk South Africa conference.

TNP White Paper on IBORs, ARRs and transition considerations
by Dr. Periklis Thivaios, CFA, FRM - Partner at TNP and Co-authors: Graham Bruce (associate partner at TNP), Vijay Krishnaswamy (partner at TNP), Niru Govender (senior consultant at TNP)

In the aftermath of the last financial crisis, it came to light that many of the interbank offered rates (IBORs) used for pricing financial instruments, loans and transactions were no longer fit for purpose.
As a consequence, the UK’s FCA and the US’s CFTC have simultaneously announced the discontinuation of IBORs post 2021 prompting the industry, regulators and trade bodies to engage on proposed replacement rates.
In parallel, several other regulators (including South Africa’s Reserve Bank) have initiated consultative processes for the migration or reform of existing reference rates to ones that are consistent with the IOSCO principles and the EU’s Benchmark Regulation (BMR).
The path towards Alternative Reference Rates (ARRs) is fraught with uncertainties:
1. What Risk Free Rates (RFRs) will be used in countries such as South Africa?
2. How do we develop term RFRs that comply with the IOSCO principles?
3. What are the operational, legal, risk management and client management implications of the transition?

For more information please contact: sonja.haug@tnp.eu

Risk Minds Asia, Hong Kong, October 2019

Presentation by Dr. Periklis Thivaios
Digital currencies, cryptos and the future of money

12th Annual ACFE Africa Fraud Conference hosted by the ACFE SA 2019

It is recognised as the largest anti-fraud event in Africa, and second largest in the world.   We aim to bring together 1000 + anti-fraud professionals from more than 20 countries over three days, all with a shared desire to gain leading-edge knowledge,  explore the newest resources for fighting fraud to achieve their goals more effectively, and meet fellow professionals within Africa expanding their network. The Conference program is carefully structured every year to include presentations and workshops by leading experts on fraud and corruption, and related fields.  The content is topical, relevant and exciting.

Adding to the theme, panellist Andries Schutte, director Riskscape and partner at True North Partners, said, technology played a profound role in shaping the global risks landscape. “Concerns about data fraud and cyber-attacks remain  prominent, along with technological vulnerabilities.” Some of the concerns Schutte listed included, “increased risk of identity theft; massive data breaches and the potential criminal uses of artificial intelligence; and difficulties introduced by regulations  particularly those governing Financial Services.

Risk Minds Americas, Boston USA, September 2019

Presentation by Dr. Periklis Thivaios

CRYPTOS, AML AND FINANCING OF TERRORIST ACTIVITIES – PROACTIVE AND PREVENTION STRATEGIES FOR REGULATED FINANCIAL INSTITUTIONS
Crypto characteristics and their potential impact on AML / FTA
Towards a digital money future – privacy, monitoring and other regulatory considerations
What can financial institutions and regulators do to minimise the use of cryptos for AML?

Blockchain in Supply Chain, Athens Greece, June 2019

Blockchain and Trade Finance

Risk Minds International 2018

Over the last 25 years, Risk Minds International has been the world’s leading risk management event and True North Partners has been a regular contributor to its speaker line-up. In the 2018 conference, our firm’s partner Periklis Thivaios (who is also an active researcher at IE Business School) chaired a panel discussion on ‘Challenger banks vs. incumbents: Where are the opportunities and risks?’. In addition, he also presented True North Partners’ research on Cryptos, Digital Currencies and the future of Money. If you would like to learn more, feel free to contact us at info@tnp.eu

White paper on Cryptos, digital currencies and the future of money

Up to now, crypto-assets have failed to satisfy the fundamental roles of ‘money’. Their deficiencies (primarily associated with the drawbacks of Bitcoin) have offered an excuse for inaction in developing Central Bank issued digital currencies that offer lower transaction costs (amongst other benefits) than existing forms of electronic money. The cogs of innovation however do not stand still, and electronic tokens constantly improve on transaction speeds, safety, privacy and -potentially- storage of value.

We envision a competitive path towards money digitisation, with Central Bank issued digital currencies and cryptos vying for consumer preference and trust. Even though it may appear to be early days, our opinion is that there is an imperative for Central Banks (primarily) and for Commercial Banks (as a consequence) to thoroughly analyse the implications of future scenarios for their role in an increasingly digitised monetary universe.

Nobody can control the future; but when it comes to the issuance and use of money, Central Banks should at least try to influence.

Download the white paper here and e-mail us for more information info@tnp.eu.

Asobancaria 17o Congreso de Riesgo Financiero

Organised in the gorgeous city of Cartagena, Colombia, True North Partners was invited to present at the Colombian Bankers’ Association (Asobancaria) annual risk management conference, commenting on the opportunities and risks from Blockchain technologies. For a copy of the presentation (in Spanish) or a copy of a relevant White Paper (in English), please email us at info@tnp.eu

Open Banking – TNP as international speakers

We are proud that TNP was asked to participate as “keynote international speakers” at this year’s “Open Banking” conference. Open Banking is the largest banking conference in Greece  with praticipation from all Greek Banks. The conference focuses on the factors driving the transition to Open Banking and the requirements for embracing innovation, new trends, solutions and services at the Financial, Technological, Business and Institutional level, as well as on formulating strategies by taking into account the timing parameter in the design of a sustainable Roadmap. One of our partners, Dimitri Anagnostopoulos presented on “Artificial Intelligence, Machine Learning and Big Data: Big insights or Big problems? Are you sure you’re ready for this?” and took the chance to have in-depth discussion with the audience on the future of banking. If you are interested to learn more feel free to reach out to us at info@tnp.eu.

Risk Minds Americas 2018

For the 2018 edition of the Risk Minds Americas conference series, TNP’s partners Periklis Thivaios and Dimitri Anagnostopoulos presented at the Disruption and Innovation Summit their views on blockchain, its applications to financial services, and the risks that the technology may entail. For more information or a copy of our blockbuster White Paper on “Managing the risks of blockchain” (originally published in December 2017, when Bitcoin valuations were at $20,000 and enthusiasm even higher), email us at info@tnp.eu

The InsurTECH Book

We are proud that one of our partners, Dimitri Anagnostopoulos, contributed to the making of “The InsurTECH Book”, sharing experiences and opinions with other thought leaders in this space. The book offers essential updates, critical thinking and actionable insights globally from start-ups, incumbents, investors, tech companies, advisors and other partners in this evolving ecosystem, in one volume. For some, Insurance is either facing an existential threat; for others, it is a sector on the brink of transforming itself. Either way, business models, value chains, customer understanding and engagement, organisational structures and even what Insurance is for, is never going to be the same. Be informed, be part of it.

TRUE NORTH PARTNERS

We always strive for excellence in what we do

Internal News

Seeking Talent!

In December 2018, two of our colleagues were on the lookout for new talent in Frankfurt to further strengthen our team. We had a lot of interesting talks with students from Goethe Universitys and took the chance to tell them more about our company. We hope to welcome some of them to our team in 2019!

CE Firm Day in Vienna, Austria | June 26 - 29

In June 2018, nearly all colleagues from Continental Europe as well as two “guests” from our South African office, took the chance to gather for a regional firm day in Vienna. Next to internal presentations, two trainers from London supported us in improving some of our soft skills. The evenings were filled with the soccer championship, good food, sightseeing in Vienna and a lot of chats with colleagues. We had a wonderful time together and are already looking forward to our next meeting!

Taste of South Africa | May 24

Working together – no problem at all. Cooking together – even better! Some of our South African colleagues accompanied with by some colleagues from Europe proved that we are a real team also beyond projects. After each group finished cooking  two meals, we enjoyed a wonderful dinner buffet at the cookery.

TRUE NORTH PARTNERS

We always strive for excellence in what we do