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Discussion around current trends in regulations for banks globally
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GDPR introduces ten new rights to data subjects. Chapter III of GDPR, Section 1 provides for some of the transparency requirements placed upon data controllers as they communicate with data subjects. It explicitly refers to several Articles 13 – 22 and Article 34. In plain English, that means: The controller has to provide certain information to ...
09 May 2018 /regulation
Nanda Kumar CEO at SunTec Business Solutions
10 years after the last financial crisis, a new upheaval in banking It’s been 10 years since the global financial crisis, considered by many to be the worst since the great depression. New regulations like the Banking Act of 2009, the FSA Remunerations Code, Know Your Customer (KYC), accompanied by stress tests, have been put in place in this dec...
04 May 2018 /security /regulation
GDPR outlines six principles that organizations need to abide by. These principles aren't new - they were already outlined in the 1995 directive, but GDPR has revised them slightly. We delve into each principle below: 1. Lawfulness, fairness and transparency Our last blog, on Legal Bases, falls within this principle. Controllers essentially need to...
03 May 2018 /regulation
Breana Patel CEO | Thought leader in Bank Risk & Regulations at Bonova Advisory | Risk &Regulatory Advisory
Best Practices in Managing Internal Capital AdequacyGuaranteeing a Solid Base of Capitalization Cooked down to its essence, the convulsion that overtook the international banking system in 2008 came down to institutions lacking adequate capitalization. The failure of Lehman Brothers — due to its holdings in the subprime market not being sufficientl...
30 April 2018 /regulation /wholesale
The first principle of data protection requires that all personal data be processed lawfully, fairly and transparently. A legal (or lawful) basis for processing must be satisfied before an organization can process any personal data. GDPR outlines six scenarios in which data processing is legally permitted. Unless the organization can show that the ...
24 April 2018 /regulation
There are very few things we can be certain of in regard to Brexit, other than the fact that it won’t be concluded in 2018. It would be premature, though, to dismiss Brexit as topic solely for the policy makers sitting in their ivory tower far removed from the technology and operations that keep financial markets running smoothly on a daily basis....
27 March 2018 /regulation
Reghunathan Sukumara Pillai Consultant at Infosys
Corporate Loans occupy significant size in the asset portfolio of large Banks. Most of the Banks have a well-defined corporate credit department comprising of relationship managers, credit appraisal officers, risk officers, approvers and Department heads. Corporate Loans not only generates interest and fee based income but also build the asset sid...
22 March 2018 /regulation
Lending is a major activity for major Banks and lending for capital investments, infrastructure, finances in Government sector and industries, heavy machineries contributes to the development of economy and also providing long term assured interest/fee based income to the Bank. Such corporate loans occupy a significant asset portfolio in many larg...
19 March 2018 /regulation
Brendan Jones CCO - Co-Founder at Konsentus Ltd
Open banking is not just for Europe, although many of us sitting in Europe probably think it is. Many other markets around the world have been noticing what Europe is up to and other countries and regions are also looking to adopt similar principles with the ultimate view of delivering better customer financial outcomes. USA Stakeholders in the ...
12 March 2018 /payments
Or maybe the headline should really read EU PSD2, open access APIs are not just for banks and the first thing we all need to be clear on is that UK open banking, that has been launched with the CAM9, is not the same as PSD2 open access APIs. So who does PSD2 open access APIs apply to? Well PSD2 uses the term ‘Transactional Account’ and in the UK t...
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