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Maintaining data integrity in the cloud amid regulatory change

/cloud

Maintaining data integrity in the cloud amid regulatory change

The cloud is beckoning, and security is job number one. Regulatory reporting has shifted from accounting values to full-fledged risk management, encompassing credit, liquidity and market risk as financial institutions (FIs) increase in size, have larger geographic footprints and continue to offer complex products.

Wells Fargo's Irish arm fined for regulatory breaches

/Reporting/compliance

Wells Fargo's Irish arm fined for regulatory breaches

The Irish central bank has issued a record fine to Wells Fargo for reporting failures by its Irish subsidiary, citing the bank's weak IT systems.

Regulators and politicians respond to Facebook's crypto plans

/Reporting/compliance

Regulators and politicians respond to Facebook's crypto plans

Regulators, politicians and other crypto players have all responded to yesterday's unveiling of Facebook's Libra project and suggested that the social media giant's digital currency plans may face several challenges.

UK fintech salaries on the rise - report

/Reporting/compliance

UK fintech salaries on the rise - report

Jobs in the UK's fintech sector have grown by 61% in the last year while demand for skilled workers has seen salaries rise by as much as 25% according to a recently published report.

India to review payments data storage rule

/Reporting/compliance

India to review payments data storage rule

The Indian central bank has been persuaded to reconsider a controversial law that mandates payments data should not be allowed to leave India's borders.

Facebook reveals digital wallet plan

/Reporting/compliance

Facebook reveals digital wallet plan

Social media platform Facebook has unveiled further details of its much-anticipated digital currency offering, which it hopes will transform financial services.

Nordic banks to cut compliance staff in favour of robots

/Reporting/compliance

Nordic banks to cut compliance staff in favour of robots

Two of the Nordics' biggest banks, Nordea and Danske Bank, expect to significantly reduce the number of staff employed in its compliance and financial crime departments and instead turn to robotics and artificial intelligence.

Blockchain benefits limited for retail banks - report

/Reporting/compliance

Blockchain benefits limited for retail banks - report

A report from management consultant McKinsey suggests that retail banks have been slower to adopt blockchain technology because they face more challenges in reaping the potential benefits.

Payment firms raise fears over EU security rules

/Reporting/compliance

Payment firms raise fears over EU security rules

A lack of preparedness for the EU's new regulations on authentication could cost Europe's online economy more than €50bn according to a number of payment processors and e-commerce merchants.

Innovation driving digital acceleration in Latin America

/Reporting/compliance

Innovation driving digital acceleration in Latin America

Swift's Latin American Regional Conference (LARC) explored how banks in the region are looking to increase digitisation, while managing cyber and compliance challenges.

Live: Swift Latin American Regional Conference - day one

/Reporting/compliance

Live: Swift Latin American Regional Conference - day one

Welcome to Finextra's live coverage of the Swift Latin American Regional Conference 2019, in Panama City. This event will focus on important issues affecting the financial industry in the region, and how the financial community can accelerate digital transformation.

Metro Bank faces shareholder revolt

/Reporting/compliance

Metro Bank faces shareholder revolt

Shareholders in Metro Bank have been advised to reject the British retail bank's latest remuneration report and abstain in the vote of its directors amid ongoing concerns over accounting practices.

Middle East bank chief calls for more regtech spending

/Reporting/compliance

Middle East bank chief calls for more regtech spending

The secretary general of the Union of Arab Banks has called on financial institutions in the region to increase their investment in regtech.

41% of banks missed PSD2 deadline says survey

/Reporting/compliance

41% of banks missed PSD2 deadline says survey

Close to half of banks (41%) failed to meet a recent deadline for the Payment Services Directive (PSD2) to provide a testing environment or 'sandbox' for any third party service providers (TPPs).

Developer experience is crucial to the consumer Open Banking offering

/devops

Developer experience is crucial to the consumer Open Banking offering

In an interview with Finextra, ForgeRock’s VP of financial services and regulatory, Nick Caley reveals that both PSD2 and Open Banking have created a template that other countries are looking to mimic by implementing standards in Europe.

India central bank convenes digital payments panel

/Reporting/compliance

India central bank convenes digital payments panel

Reserve Bank of India (RBI) has recruited the Infosys chairman Nandan Nilekani to head up an advisory panel on the development of digital payments.

Open Banking is in the customer’s hands in the age of data breaches

/Reporting/compliance

Open Banking is in the customer’s hands in the age of data breaches

Following news of the Marriott data breach, panelists at Fintech Connect 2018 believe that while concern about the security of data retention still exists, open APIs have resulted in a paradigm shift around how data is controlled.

Switzerland adopts new fintech authorisation rules

/Reporting/compliance

Switzerland adopts new fintech authorisation rules

The Swiss government has amended its Banking Act to include new authorisation rules for fintechs in its latest bid to boost innovation in the sector.

Danish watchdog could face EU inquiry over Danske Bank scandal

/Reporting/compliance

Danish watchdog could face EU inquiry over Danske Bank scandal

Denmark's Financial Services Authority (FSA) is bracing itself for a formal enquiry from the European Banking Authority over the money laundering scandal at Danske bank that was reported last week.

Tesco Bank facing £30m fine over cyber breach

/Reporting/compliance

Tesco Bank facing £30m fine over cyber breach

The UK's banking watchdog is threatening to charge Tesco Bank £30m for its failure to prevent a cyber attacks that affected thousands of customers in 2016.

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