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Survey: Risk pros sound alarm on asset liability management readiness

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SAS-sponsored research by Celent reveals a financial industry shaken by recent bank failures and mobilizing to improve risk management practices and capabilities; June 28 virtual event offers more insights

CARY, N.C., June 27, 2023 /PRNewswire/ — The sudden fall of Silicon Valley Bank (SVB) in March was a staccato siren shattering a period of relative calm in the financial services industry. Between 2015 and 2022, bank failures averaged less than four per year – with none at all in 2021 and 2022. SVB’s ripple effects have intensified attention on asset liability management (ALM), a long-overlooked facet of risk management. How financial firms are adapting is the subject of a new ALM research study by Celent, sponsored by analytics leader SAS.

“At the start of the year, few would have predicted that [ALM] would take center stage the way it has.” SAS.com/almstudy

The resulting report, Modernizing Asset Liability Management, is based on a global survey of 266 risk-focused finserv professionals in 22 countries. It provides timely insights into firms’ strategies for strengthening their balance sheets amidst rising interest rates and soaring liquidity risk, the one-two punch that triggered the bank runs that toppled SVB and, subsequently, Signature Bank and First Republic Bank. Among the study’s key findings:

ALM modernization is mission-critical. Most firms (80%) are considering significant improvements to their ALM functions, although planned investments vary by firms’ asset size. A majority of Tier 1 firms ($750 billion or more in assets) are focused on implementing next-gen ALM technology (e.g., cloud-native, API-driven systems and machine learning), whereas nearly half of Tier 3 and Tier 4 firms ($50 billion to $249 billion in assets) are contemplating new systems.
 Foresight, alignment and automation are firms’ top three near-term ALM enhancement priorities. Nearly six in 10 firms (59%) aim to boost their forward-looking simulation capabilities. More than half seek better alignment of ALM with their risk, treasury and finance functions (53%) as well as increased automation in regulator-mandated areas of risk (52%).
 Integrated balance sheet management is most firms’ end goal. Less than a third (29%) of banks have fully automated data sharing between ALM and other risk or business functions. But 40% of firms say they’ve already achieved integrated balance sheet management – and another 39% are striving for it.

Months in planning, the survey was fielded globally in March, giving the research collaborators a unique vantage point to snapshot the changing state of ALM.

“The survey could not have been better timed to capture how firms are responding to evolving disruption,” said Neil Katkov, Director of Risk at Celent. “The good news is that nearly all banks and capital markets firms are using technology systems for ALM, but about half are using dated, monolithic systems that have rather inflexible, prebuilt functions. Such systems simply cannot support the processing speeds and model granularity needed to support ALM best practices, including intraday analytic capabilities and process automation and orchestration.”

A special anniversary – join SAS virtually on June 28
The study’s release coincides with the one-year anniversary of SAS’ acquisition of Honolulu-based Kamakura Corporation, hailed by industry analysts last year as the “joining of matching puzzle pieces” in the risk management realm. The unification of two such esteemed risk technology players was widely recognized for its market-changing potential in ALM and integrated balance sheet management more broadly.

Commemorating the acquisition anniversary, SAS will host a LinkedIn Live virtual event, Navigating Risk in Volatile Markets, Wednesday, June 28, at 1 p.m. ET. No registration is required. Connect with experts from SAS and Kamakura live, or later on demand, to:

Explore the latest trends in credit risk and the future of ALM.Hear practical strategies for managing liquidity in uncertain markets.Get the latest integration updates and a peek at what’s ahead in tech developments and risk research.

“At the start of the year, few would have predicted that asset liability management would take center stage the way it has – but SAS did, and the truth is that we’ve been preparing for this moment for a long time,” said Troy Haines, Senior Vice President of Risk Research and Quantitative Solutions at SAS. “SAS’ acquisition of Kamakura was orchestrated as part of a long-term strategy to bolster our deep expertise and industry-leading IP to help our customers navigate the most treacherous risk climate the world has seen in more than a decade.

“Even before the recent bank failures, SAS’ strategic investment was delivering on its vision. The retooling of SAS®Asset and Liability Management on SAS® Viya® is already helping financial firms better predict and mitigate the interest rate, liquidity and balance sheet risks that sparked the industry’s current upheaval.”

ALM insights by region and more, available on demand
In complement to the ALM research report and LinkedIn Live event, the GARP ALM webcast Fresh Insights for Financial Services: Analytics Modernization and Next-Gen ALM delves deeper into the study’s findings. Join risk experts from SAS, Celent, GARP and American AgCredit on demand to probe:

Essential analytic capabilities and must-have functionalities.Regional priorities for supporting ALM advances.Preparations for the IBOR transition.

About SAS
SAS is the leader in analytics. Through innovative software and services, SAS empowers and inspires customers around the world to transform data into intelligence. SAS gives you THE POWER TO KNOW®.

SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2023 SAS Institute Inc. All rights reserved.

Editorial Contacts:
Danielle Bates
danielle.bates@sas.com
+1 919-531-1959
sas.com/news

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SOURCE SAS

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AB DAO Partners with AB Charity Foundation

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4 hours ago

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May 11, 2025

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Building a Trustworthy Infrastructure, Advancing Global Philanthropy Through Technology

DUBLIN, May 11, 2025 /PRNewswire/ — On May 8, 2025, AB DAO and the AB Charity Foundation jointly hosted the inaugural “Technology-Driven Philanthropy Closed-Door Forum” in Dublin, Ireland.

The forum was chaired by H.E. Bertie Ahern, Chairman of the AB Charity Foundation, former Prime Minister of Ireland, and former President of the European Commission. He delivered a keynote speech titled “Technology and Trust – A New Order for Philanthropy.”

Distinguished attendees included H.E. Olusegun Obasanjo, former President of Nigeria and former Chairperson of the African Union, as well as Mr. Malcolm Byrne, Member of the Irish Parliament and Chairman of the Committee on Artificial Intelligence. The forum featured deep discussions on how emerging technologies can empower global welfare systems.

Anthony Tsang, representing AB Chain, presented the latest technical developments, including the high-performance mainnet, cross-chain protocol AB Connect, and the gas-free transaction protocol Universal Transfer. These innovations reflect AB DAO’s vision of building a globally compliant blockchain infrastructure dedicated to philanthropy.

Key proposals from the forum will be compiled by the AB Charity Foundation and submitted to the United Nations and global partner networks to further promote the global practice of “technology for good.”

About the AB Charity Foundation

The AB Charity Foundation is a legally registered international NGO in Ireland with full legal status under EU law. Supported by AB DAO in both funding and technology, the foundation is committed to building a transparent and traceable global philanthropic infrastructure using blockchain and artificial intelligence technologies.

For more information, please visit: www.ab.org

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SOURCE AB Foundation

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Miracle-48 Launches in the U.S., Bringing Regenerative Skincare to the Forefront

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5 hours ago

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May 11, 2025

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Beauty-Stem debuted Miracle-48™ in the U.S., featuring a patented microsphere delivery system and exosome-derived extraction. The launch event included a live performance and testimonial by actress Victoria Summer, who praised the product’s visible skin-renewing effects. Experts call it a breakthrough in medical-grade anti-aging skincare, as the brand begins its global expansion starting with the U.S. market.

LOS ANGELES, May 11, 2025 /PRNewswire-PRWeb/ — Beauty-Stem Biomedical, a biotech-driven beauty and wellness company, officially unveiled its flagship product Miracle-48™ at a high-profile brand event held in Southern California. Attended by leaders from the business, medical, and philanthropic sectors, the evening marked a significant milestone for the brand’s U.S. expansion and showcased its latest innovation in skin rejuvenation.

A Science-Based Breakthrough Years in the Making

Developed by an international R&D team led by Dr. Chai-Ching Lin, President of Power-Stem Biomedical, Miracle-48™ is the result of years of cross-disciplinary research and clinical testing. The formula blends regenerative science with modern skincare, powered by a patented microsphere delivery system that precisely carries and releases exosome-derived extraction deep into the skin’s layers.

Each milliliter contains over 100,000 microspheres and 800 million active factors, delivering 48 skin-revitalizing ingredients that help reduce fine lines, dullness, and sagging—kickstarting the skin’s natural renewal process.

Victoria Summer‘s Testimonial and Performance

International actress and singer Victoria Summer, fresh off a Best Supporting Actress win at Portugal’s FARO International Film Festival, lit up the launch with a heartfelt live performance. She also shared her personal experience using Miracle-48™, saying it made a visible difference in her skin.

“In just two months, my skin looked smoother, firmer, and more radiant,” said Victoria. “It brought back a youthful glow—and my confidence too.”

Inspired by Beauty-Stem‘s mission, she now serves as the brand’s global ambassador, supporting its message of natural beauty and wellness from the inside out.

A Promising Contender in the High-End Skincare Market

With demand growing for high-performance skincare backed by science, Miracle-48™ hits the U.S. at the right moment. “This isn’t your average moisturizer,” said Dr. Sahar Lashin, MD, PhD, founder of IntegrUtopia. “It brings medical-grade technology into daily routines—and raises the bar for what skincare can do.”

Doctors, beauty experts, and media at the event called it a “game-changer” in anti-aging, with some describing it as a modern-day fountain of youth.

Global Strategy, Local Impact

The Los Angeles launch was more than just a product reveal—it marked the first major step in Beauty-Stem‘s global growth strategy. With North America as a key market, the brand plans to build its presence through continued innovation and strategic partnerships in regenerative skincare.

Beauty-Stem remains committed to delivering high-efficacy, science-backed solutions that support both beauty and long-term skin health for customers worldwide.

Media Contact

Customer Service, Beauty-Stem Biomedical US, 1 888-341-7505, Service.us@beauty-stem.com, https://beauty-stem.com/us/index.php

View original content:https://www.prweb.com/releases/miracle-48-launches-in-the-us-bringing-regenerative-skincare-to-the-forefront-302451611.html

SOURCE Beauty-Stem Biomedical US

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Beijing Review: 50 Years of Growing Partnership

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10 hours ago

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May 11, 2025

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BEIJING, May 11, 2025 /PRNewswire/ — On May 6, 1975, China and the European Economic Community, the predecessor to today’s European Union, established diplomatic relations. This historic moment opened a new chapter of friendship and cooperation.

 

Over the past half a century, both sides have championed multilateralism, deepened collaboration and achieved mutually beneficial outcomes. Their enduring efforts have played a constructive role in advancing global peace and development. A healthy and stable partnership not only serves their interests, but also helps shape a better world.

“The wise find common ground; the unwise dwell on differences.” This slightly adapted line from the earliest known text on Chinese medicine, The Yellow Emperor’s Inner Canon, reflects the spirit of cooperation between the two sides across decades and offers a guiding vision for the future.

In March 2014, shortly before his state visit to Belgium and visit to the EU headquarters, President Xi Jinping cited this ancient Chinese quote in his article published in Belgian newspaper Le Soir. The sentence emphasizes that wise people focus on shared values and embrace diversity to achieve mutual benefit; whereas the unwise amplify differences, foment conflict and invite failure.

Through this quote, Xi conveyed his hope that China and the EU will respect each other, treat each other as equals, seek common ground while respecting differences, deepen communication and stay committed to mutually beneficial cooperation. He called for finding the greatest common interests, sharing opportunities and jointly tackling challenges.

Given their differences in history and culture, social institutions and stages of development, it is only natural for China and the EU to have varying perspectives, and even disagreements, on certain issues. Like-mindedness makes for partnership, and seeking common ground while respecting differences is also a feature of partnership.

Both past experiences and present realities have shown that as long as both sides adhere to mutual respect, treat each other as equals and engage in candid dialogue, differences cannot stand in the way of dialogue, nor can disagreements impede collaboration.

To date, China and the EU have established over 70 consultation and dialogue mechanisms, covering a broad spectrum of sectors including politics, economy and trade, people-to-people exchange, science and technology, energy and the environment.

Bilateral trade expanded from just over $2.4 billion in 1975 to over $780 billion in 2024. Two-way investment, once negligible, surged to nearly $260 billion. Since its launch in 2011, the China-Europe Railway Express, dubbed the “steel camel caravan,” has reached 227 cities across 25 European countries, completing over 100,000 freight trips, and become a key link between Asia and Europe.

Throughout history, both Chinese and European civilizations have made lasting impacts on the progress of humanity. In recent years, exchanges in education, science and technology have flourished. Cultural exchange is becoming more vibrant and connections between people are growing ever closer, continuously enriching their shared stories of mutual understanding, cooperation, exchange and mutual learning.

“The wise find common ground; the unwise dwell on differences.” At the new starting point that is the 50th anniversary of diplomatic relations, China and the EU should remain true to the original aspiration of their partnership, seek common ground while respecting differences, build mutual trust and pursue mutually beneficial cooperation. Together, they will foster global peace and prosperity, as well as usher in a new, promising chapter in the next 50 years.

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