Technology tackles financial rogues
When news broke that Swiss investment bank UBS had lost $2.3bn (£1.5bn) through alleged rogue trading, the shock was matched by an equally exasperated response of "not again!" as another financial risk management disaster hit the headlines.
It leaves a sceptical public scratching its collective head and wondering just what needs to happen for risk to be kept under control in the financial sector.
Financial firms have back office functions that are there to confirm transactions are above board, but such is the volume that the only way they can keep up is with increasingly advanced technology.
Michael Millar reports.
26 Sep 2011
- From the section Business