Banking Regulations

Discussion around current trends in regulations for banks globally

Shirish Netke President at Amberoon

The Red Pill Realities of Anti Money Laundering

Money laundered through the banking system is estimated to be over 2 trillion dollars a year. A recent study by BAFT (Bankers Association of Finance and Trade) estimates that 1% of the proceeds from financial crimes are intercepted. Meanwhile, nine out of ten suspicious activities flagged by AML software in banks are false alarms. Let’s put these ...

20 January 2019 /ai /regulation

Matt Smith CEO at SteelEye

MiFID II - One Year On

We are close approaching the 1st anniversary of the most anticipated regulatory change in recent years – MiFID II. Sweeping into force on January 3, 2018 MiFID II brought with it a huge overhaul of the financial services industry that aimed to increase transparency, reduce costs for investors and clampdown on market misconduct in the financial ind...

02 January 2019 /regulation

Anna Kuzmina Expert at Fintech

Russia wants to adapt its payment laws to market reality

“Central Bank of Russia takes control over foreign payment systems and e-wallets”, “Alipay and WeChat Pay will be restricted in Russia”, “Russian Central Bank will strengthen regulation towards Apple Pay and Google Pay” — these were the business news headlines after new amendments to payment laws were introduced to the Russian government last week...

18 December 2018 /payments /regulation

Retired Member 

Examining Anti-Money Laundering Enforcement Across Europe

Since the beginning of the financial crisis in 2008, financial institutions have had to deal with a series of regulations to increase transparency. The objective? Creating a safer, more robust and more transparent financial system. Level of Fines at a Distant Second to the USA Europe accounts for 7% of global AML fines levied in the last 10 years, ...

07 November 2018 /regulation /wholesale

Rik Coeckelbergs Independent Advisor, Opinion Maker and Consultant at The Banking Scene

When Regtech meets Payments

Last week I represented The Banking Scene at 5th NPF and Regtech Leaders Forum, a boutique conference in the middle of Brussels, with about 75 participants. The Banking Scene was a media partner at this Forum. The topics and speakers were great: diverse and straight to the point. An international audience gathered, open for interaction and networki...

02 November 2018 /regulation /inclusion

Michael Kerman Marketing Executive at Self-Employed

RegTech Aren't Just for Startups

After the 2008 crisis, financial institutions faced a mountain of new regulations and related challenges around data collection, monitoring and reporting. Hundreds of Regulatory Technology (RegTech) startups sprang up to help. But there’s one thing that’s often overlooked in the dynamic RegTech space: it’s not just about startups. RegTech is abo...

29 October 2018 /ai /regulation

Retired Member 

PSD2 - A New Open Banking Payment Ecosystem

Revise Payment Service Directive (PSD2) is a new regulation provided by EU Directive, administered by the European Commission (Directorate General Internal Market) to regulate payment services and payment service providers throughout the European Union (EU) and European Economic Area (EEA). PSD2 provided enormous opportunities to Banks, Customer...

21 October 2018 /regulation

John Byrne CEO at Corlytics

Data analytics could be the key to making sense of principles-based regulations

Knowing the rules Principles-based regulation was introduced in 1990 by the Financial Services Authority, the UK’s financial services regulator at the time (since superseded by the FCA and PRA). The approach has since found widespread support among regulators elsewhere, adopted to varying degrees by those from the Hong Kong’s SFC to France’s AMF. ...

08 October 2018 /ai /regulation

Reghunathan Sukumara Pillai Consultant at Infosys

Whether mergers of public sector banks will solve the banking crisis in India ?

The nationalization of Banks in 1969 paved the way for growth of banking business in the country with improvement in economy. Banking was perceived as a lucrative white collar job with security and respectability in the society. Further nationalization of another set of banks happened in early 1980s considering the success of nationalization of B...

27 September 2018 /regulation

Retired Member 

6 Pieces of Advice for Implementing Global Client Lifecycle Management

Implementing a Client Lifecycle Management program is strategically important. However, it is one that spans many different stakeholders across the business, bringing with it many obstacles and challenges to a streamlined implementation process. Having implemented CLM for 60+ financial institutions across the world, there are six key pieces of...

26 September 2018 /regulation /inclusion