Regulation & Compliance news

Regulation & Compliance headlines

Swedbank integrates anti-financial crime into group products and advice

25 Apr

Unlimit secures online payment aggregator license in India

25 Apr

MQube adds complaince check feature to mortgage marketing product

24 Apr

Finance in Motion and Napier AI partner on AML for secure impact investments

24 Apr

PayU gets RBI approval to operate as payment aggregator

23 Apr

FCA confirms anti-greenwashing guidance

23 Apr

Singapore's Qashier awarded in-principle approval for a Major Payment Institution Licence

23 Apr

Indigita teams with Route Crypto Training

23 Apr

Verafin unveils Entity Research Copilot

22 Apr

DTCC urges market participants to up their game in anticipation of T+1

22 Apr

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NextGen Nordics 2024: A closer look at Confirmation of Payee

Moderating her last panel of the day, Finextra’s head of content Madhvi Mavadiya discussed Confirmation of Payee (COP) with Christina Fransson, senior payment product specialist of FIS in EMEA, Greg Huguet, European regional director at iPiD, Paulina Kudlacik, Confirmation of Payee scheme manager at the Nordic Payments Council, and Richard Ross, global payment market infrastructure expert at Swift.

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EU expands AML regulation impacting cryptocurrency compliance

“Ubiquitech” The five key pillars for digital transformation

RBI bars Kotak Mahindra from digitally onboarding new customers

NextGen Nordics 2024: How will incoming regulation shape payments infrastructure?

ComplyAdvantage buys Golden to boost financial crime intelligence

NextGen Nordics 2024: NPC promoting innovation and harmonisation in the Nordics

Apple offer to open up NFC payments access set for EU approval - Reuters

FCA turns the microscope on Big Tech

EBAday 2024: The future of CBDCs, tokenised deposits and stablecoin adoption

Blair Institute sets out 'progressive vision' for fintech

Join us at Money20/20 Europe 2024 - 4-6 June, Amsterdam | Use code FEX200 to save €200 on your ticke

Join us at Money20/20 Europe 2024 - 4-6 June, Amsterdam | Use code FEX200 to save €200 on your ticket

Regulation & Compliance blogs

The future of Payments in Europe

Europe is waiting for MiCA, but we should prepare for challenges — Ross Kolodiazhnyi, CEO at DCM

Ross Kolodyazhnyi

Ross Kolodyazhnyi - DCM - London

Digital Bank Transformation

Future of Payment Review – who will pay?

John Bertrand

John Bertrand - Tec 8 Limited - London

Artificial Intelligence and Financial Services

AI’s Impact on Digital Fraud and Financial Crime

Iain Swaine

Iain Swaine - BioCatch - London

Banking

FCA and BoE data sharing changes: the impact on lenders

Nick Green

Nick Green - Purple Patch Broking Ltd - Stratford-Upon-Avon

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Latest TV

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“Ubiquitech” The five key pillars for digital transformation

In this episode of Unplugged, Ruth Wandhofer, Chair of the Ubiquitech Group, discusses the UK’s transition from Fintech to “Ubiquitech”, the era of ubiquitous technology, and the road map to ensuring a sustainable, inclusive, and accessible digital economy. We review strategic recommendations for cyber security, digital systems in trade, and the digital skills education needed to support the UK’s digital economy.

Unveiling Fintech's Future: The innovations and regulations making change

During UK FinTech Week at IFGS 2024, Gurdeep Singh Kohli of Standard Chartered Ventures, discusses the impact of digital disruptors on UK FinTech, citing regulatory support and funding as key drivers. He highlights Challenger banks' success in improving client experiences and addressing SME needs. We look at approaches to innovation, emphasizing experimentation and the importance of security in emerging technologies like digital assets and artificial intelligence.

Project Nemo: Pioneering Disability Inclusion in Fintech

Live at IFGS 2024, Joanne Dewar, Project Lead at Project Nemo, discusses Project Nemo’s innovative initiative driving disability inclusion in fintech. With one in five individuals having disabilities, this project connects fintech firms with specialized service providers to promote awareness and change. We discuss upcoming workshops and events aimed at providing practical resources for inclusion efforts, aiming to set a new standard for inclusivity across industries.

Everybody in the room: Moving fintech forward

Lou Smith, Chair of Innovate Finance, discusses fintech's evolution in the past decade and its impact on consumer behaviour and industry collaboration. From challenger banks to widespread fintech app usage, we examine transformative trends like Open Finance, and amidst the challenges 2024 brings both nationally and internationally, we highlight opportunities for sustainable growth, charting a course towards fintech's fruitful future.

The long read

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Sehrish Alikhan

Apple’s digital wallet monopoly: The juicy drama

Sehrish Alikhan - Reporter, Finextra

Discussion

EBAday 2024: The future of CBDCs, tokenised deposits and stablecoin adoption

Jeremy Light

Jeremy Light

"we must not forget the contribution that retail central bank money has made to monetary and financial stability." The BoE ties itself in knots trying to justify a retail CBDC - in the same speech the deputy governor admits that cash has dropped from around two-thirds of transactions twenty years ago to 14% in 2022. This drop has had no impact on monetary or financial stability and it demonstrates consumers have no preference for central bank money over commercial bank deposits (and I doubt most have any idea of the difference risk profiles of the two). In the past, cash was a source of instability as it provided a mechanism for a bank run, with depositors able to withdraw their savings en masse. Nowadays, if a bank is in trouble depositors are highly unlikely to withdraw cash at scale but instead transfer deposits electronically to other banks (as happened with Northern Rock in 2008) - the banking system may freeze up for a while as banks refuse to lend reserves to each other when large volumes of deposits are transferred between banks, but the total value of deposits in the banking system remains the same and locked-in without cash withdrawals. A retail CBDC would reintroduce this stability risk if depositors are able to withdraw deposits instantly out of the banking system electronically into a retail CBDC, causing a run on multiple banks. The interesting aspect of this speech is that a wholesale CBDC is gaining traction in the BoE's plans. A wholesale CBDC is in the sweetspot of a central bank and has some real benefits - hopefully the BoE will focus more on a wholesale CBDC and quietly kick the retail CBDC idea into the long grass.

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Blair Institute sets out 'progressive vision' for fintech

Jamie French

Jamie French

Fintech funding in the UK is progressivly getting harder and smaller. Next.

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Blair Institute sets out 'progressive vision' for fintech

Martin Swanson

Martin Swanson

As a recent FinTech founder, the things that I think would make a significant difference and encourage more people to build startups: - remove tax on redundancy payments - lower 25% corp tax - 0% CT for first 3-5 years - govt SaaS service for accounts and payroll - govt ESOP scheme - restore entrepreneur tax incentives

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Blair Institute sets out 'progressive vision' for fintech

Steve Wilcockson

Steve Wilcockson

Putting the Labour/Blair thing to one side and responding to the fraud expansion comment, I do see UK Fintech leaders in real-time fraud detection and complex fraud detection (tax, AML, fincrime, etc). I've worked for two such firms. Complex financial crime is easier to detect than it used to be. Money launderers, organized criminals and tax dodgers have far fewer places to hide. Also, streaming real-time analytics, including model inference at scale in-memory and with distributed memory, with much-improved model deployments (types and agility to recalibrate) is powerful and increasingly democratized. That said, I'd also note that fintech favourite, crypto, is the criminal's friend and I'd hope there's a responsible crypto strategy in the bag of tricks of the next UK Govt.

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Blair Institute sets out 'progressive vision' for fintech

BoE forecasting held back by out-of-date tech - Bernanke

UK government announces open finance task force

The long read

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Simon Treacy

Generative AI: How to manage banking risks

Simon Treacy - Senior Associate, Linklaters

Elsewhere...

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Chris Holmes

UK AI regulation: The Data Protection and Digital Information Bill

Chris Holmes - Peer - House of Lords