Experienced Advisors Driving Efficiency & Cost Optimisation

TORI were asked to help develop a proof-of-concept presentation for the Board to describe the proposed approach in more detail and validate the underlying concept, including potential revenue increases, cost savings, and implementation costs. ​

Despite advancements in encryption and secure storage technologies, a critical vulnerability persists: data in use, or data actively processed in memory, often remains exposed to sophisticated cyber threats.

The report notes that reviews of the US implementation “suggest that insufficient focus was given to automation leading to firms post implementation having to deal with increased volumes of manual processing and exception management” and current feedback is that this has resulted in significant increases in staff working hours and costs.

The Society, as part of its BAU operations, required support to augment its IT Risk team, orientated to Cyber Security and IT Controls.

The client identified three initiatives to support the delivery of its strategic objectives. The three initiatives centred around Training, Call Centre transformation and Data.

People need to be working effectively, with roles in the right locations with the right levels of skill, experience and oversight and control.

The UK and Europe moves to T+1 settlement in 2027 means regulatory projects that will force firms to change to support same-day processing. Batch processes and controls need to become near real-time, exceptions need to be identified and addressed quickly, and manual processes need to be automated.

A prominent international insurer was confronted with a set of data security challenges during a tenant migration to a new MS Azure environment with enhanced security requirements.​

In 2023, the banking industry globally faced more than £670 million in fines for inadequate AML Governance processes. Indicatively, it is imperative organisations to bolster their detection capabilities and stay ahead of evolving risks.

Are there opportunities for firms to significantly reduce costs and risks by automating more manual processes and controls? The answer seems to be ‘Yes, but…’. If it was easy, it would have been done efficiently & effectively already.

UK Financial Services firms reported a more than threefold increase in the number of cyber security breaches to the Information Commissioners Office (ICO) in 2023 compared to the previous year.

In this blog we explore the opportunities DeFi presents, including faster and cheaper payments, improved lending and borrowing, transparency, and accessibility. Following on the same trajectory, this also discusses how within the contemporary and rapidly evolving financial landscape, digital and data transformation  have become paramount for success

Artificial Intelligence (AI) refers to the capability of a computer system to replicate human cognitive functions and simulate the reasoning that humans use to learn and solve problems by employing maths and logic. Machine Learning (ML), a subset or application of AI if you will, involves using mathematical models of data to facilitate computer learning without direct or explicit instructions.

TORI completed an 8-week engagement and collaborated closely with the Client’s internal IT, procurement / product owners, examining and constructively challenging the cost base, procurement practices and licence utilisation taking account of over overarching business objectives and desired cost savings targets.

Consumer Duty is NOT a new version of the existing “fair treatment of customer” published by the FCA. The intention of this new regulation is to ensure Financial institutions re-think and shape their business models to deliver customers with “fair” value-for-money and transparency.

You acknowledge the rapidly-changing face of operations driven by global trends, shifting industry ecosystems, and digital technologies. You are continually being challenged to review cost structures and increase productivity, all the while making deeper, faster, safer and more automated changes to keep pace with competitors.

AI is a general term which describes any technology that performs tasks which demonstrate characteristics of human intelligence. Machine learning is a subset of AI which can achieve ‘intelligence’ with the use of algorithms to ‘learn’ with data, without being explicitly programmed.