Latest Reporting/compliance News: Finextra Research

Company update/people

FinTech Australia names first policy lead

FinTech Australia has appointed former Federal Government adviser Nick Kavass as its first Policy Lead.

19 July 2022

FCA continues ‘heavy’ tech investment for decision making

In a speech delivered this week by Nikhil Rathi, chief executive of the UK’s Financial Conduct Authority (FCA), to the Peterson Institute of International Economics, Rathi explained that the regulator has “invested heavily in data and technology” to take a more proactive stance and, crucially, spot harm and intervene more quickly and more broadly.

15 July 2022

News/crime

Bank of America fined $225 million for unlawfully freezing accounts during Covid-19 pandemic

The Consumer Financial Protection Bureau (CFPB) and Office of the Comptroller of the Currency (OCC) have fined the Bank of America (BofA) for their deficient disbursement of state unemployment benefits during the Covid-19 pandemic.

15 July 2022

News/regulation

CFPB strengthens data privacy and cybersecurity with new rules

The Consumer Financial Protection Bureau (CFPB) has rolled out new regulations on cyber security and data privacy under the Fair Credit Reporting Act.

08 July 2022

Company update/security

Shufti Pro to deliver AML verification for Mintus art platform

UK-based Shufti Pro, a leader in identity verification solutions, today announced it has been selected by art investment platform Mintus to provide leading-edge KYC and AML identity verification solutions.

07 July 2022

Company update/security

FullCircl enhances HMRC Import and Export Data Extension

FullCircl, the Customer Lifecycle Intelligence (CLI) platform that helps B2B companies in financially regulated industries do better business faster, has launched its latest Premium Data Extension (PDE). The new HMRC Import and Export Data Pack allows users to understand which of their customers are trading internationally – critical for KYC, AML, and continuous due diligence monitoring, as well as identifying opportunities to support customers and cross-sell products and services.

07 July 2022

Company update/crime

Lucinity secures $17 million to fight financial crime

Lucinity today announced the closing of a $17 million Series B investment round, led by Keen Venture Partners and joined by Experian and its major existing investors, Crowberry Capital, Karma Ventures, and byFounders.

07 July 2022

Company update/startups

Nstart secures credit institution license

Swedish fintech Nstart has been granted a license to operate as a credit institution by the Swedish Financial Services Authority. The license will allow Nstart to offer both deposits and lending and give more Europeans the opportunity to free themselves from over-indebtedness.

06 July 2022

Company update/people

Former Estonian financial regulator tasked with securing crypto license for SG Veteris

Today, global cryptocurrency-based fintech services group, SG Veteris, which is headquartered in London, has announced the appointment of industry heavyweight, Raul Malmstein, to establish a new office in Estonia, SG Veteris Estonia OÜ and to secure a cryptocurrency license.

06 July 2022

News/regulation

Landmark Digital Services Package passed by European Parliament

The European Parliament has approved the Digital Services Package, comprising the Digital Services Act (DSA) and Digital Marketing Act (DMA), originally put forward by the European Commission in December 2020.

06 July 2022

Company update/security

allpay launches Confirmation of Payee solution

allpay are delighted to announce the launch of their Confirmation of Payee solution. Built inhouse, the technology will allow the Hereford based payment service provider’s 16,000 Banking Lite cardholders to benefit from the Open Banking ecosystem.

05 July 2022

Company update/sustainable

Aviva adds to ESG profiling tool

Aviva has today announced further enhancements to their ESG Profiling tool on the Aviva Advised platform. ESG Profiler, powered by FNZ Impact, an ESG solution integrated into FNZ’s wider global wealth management platform, will now offer a downloadable customer report, enabling advisers to include ESG factors in client conversations. An additional ESG-focussed preference – Air Pollution – has also been added.

05 July 2022

News/regulation

ECB to issue eurozone warning over crypto regulation – FT

The European Central Bank (ECB) is expected to issue a strong warning to eurozone countries around the pressing need to harmonise regulation across the crypto industry, the FT reports.

04 July 2022

News/sustainable

Research reveals ESG data challenge

Buy-side firms are having to user a greater number of ESG data providers in order to make up for the lack of corporate disclosures around sustainability.

27 June 2022

News/regulation

India proposes tougher IT outsourcing rules for banks

India's central bank, the Reserve Bank of India (RBI), is set to introduce new rules for IT outsourcing within the financial services sector.

27 June 2022

Research/Reporting/compliance

Real Time Payments: Solving today's problems for tomorrow's success

23 June 2022 835 downloads

Finextra TV/sustainable

How we will Measure and Manage Nature in Financial Services

David Craig, Co-Chair of the Taskforce on Nature-related Financial Disclosures (TNFD) and the former CEO of Refinitiv, knows a thing or two about data and he shares with Richard Peers the approach the TNFD is taking.

16 June 2022

News/regulation

US Senator requests FSOC review into risks of consumer data use

US Senator and Democratic chair of the Senate Banking Committee this week requested that the Financial Stability Oversight Council (FSOC) examine financial institutions’ use of consumer data, and the risks they pose to US financial stability.

10 June 2022

News/payments

EBAday 2022: Balancing smooth onboarding with sanctions screening

During her fireside chat on day two of EBAday, Sabine Zucker, head of trade finance and transaction banking, Raiffeisen Bank International addressed a range of factors influencing the connection between banks and corporates.

01 June 2022

News/payments

EBAday 2022: Preparing for the operational resilience ‘sea change’

Kicking off the EBAday session titled ‘Building Operational Resilience’, moderator Tom Zink, research director, IDC Financial Insights, posed a poll question to the audience, asking ‘how familiar are you with DORA?’

31 May 2022