Retired Member
There’s nothing quite like an impending deadline to shake you out of summer holiday mode – and PSD2, due to come into force on September 14th, is a significant one. Whilst the FCA recently confirmed an 18-month delay to the Secure Customer Authentication (SCA) aspect of the directive, PSD2 is about so much more than multi-factor authentication. It ...
13 September 2019 /security /regulation Open Banking
Keith Stonell Managing Director, EMEA at Guidewire
Cyber-attacks are hardly new news, but they are an ever-changing threat. The cyber landscape does not stand still for long, and with each new technological innovation, hackers find new vulnerabilities to exploit for their benefit. Even with existing technology, hackers never cease to find new ways or loopholes for intrusion. The threat is coming f...
11 September 2019 /security /regulation Fintech
Scott Cutler Director, at Fortinet
The financial services industry continues to be a prime target for cyber criminals. The opportunities available to steal payment card data, online banking accounts, compromise ATM machines using ransomware, cryptomining, and other malware, is simply too tempting. And the rate and sophistication of attacks is only getting more difficult to manage a...
10 September 2019 /security /regulation Information Security
Hugh Cumberland Director - UK & EMEA at txtsmarter
I always thought "Trust" was an album by Elvis Costello until I started working in the City of London. I quickly learned that much of everything we did in the City and in the global financial community relied on trust. You trust that your bank will look after your money, you trust that your broker will get you the best price for your shar...
09 September 2019 /security /regulation
KYC utilities provide access to a unique and validated source of data, but liability for satisfying KYC and AML obligations ultimately remains with Nordic banks. The Nordic banking landscape has witnessed significant upheaval over the past few years, moving from an untarnished reputation for having the safest financial institutions in the world to ...
06 September 2019 /regulation Banking Regulations
Freddie Frith Vice President at Corlytics
The Regulatory Landscape The rise of financial technology has drawn the attention of regulators to FinTech firms and how they function. FinTech companies like any other regulated institutions are required to comply with a growing set of regulatory rules. One of the latest examples is the FCA's roll-out of Secure Customer Authentication (SCA) for e...
05 September 2019 /ai /regulation Banking Regulations
The bygone decades have seen a rise in the trade regulatory requirements. While the growing regulations are intended for investor protection, it is ultimately resulting in higher compliance cost and manual workloads. Global spending on compliance and regulatory is closely around $270 billion and 10 – 15% of workforce in the financial firms are ded
03 September 2019 /regulation
Martin Kisby Head of Compliance at Equiniti Credit Services
Following the banking crisis in 2008, the Parliamentary Commission for Banking Standards (PCBS) recommended the creation of a new framework focused on increasing senior management accountability. Based on this recommendation, Parliament passed legislation in December 2013 that prompted the primary regulators of the financial services sector, the F...
30 August 2019 /regulation Operational Risk Management
The concept of governance, risk and compliance (GRC) isn’t new. However, the process of implementing GRC in an integrated and synchronised manner, aligned with business processes and strategic objectives, is something many organisations continue to struggle with. Integrated GRC demands that several roles work in harmony. Audit, risk management and...
28 August 2019 /regulation Fintech
Mark Demo Head of Community Development at AcadiaSoft
Friday, August 30 marks the end of the U.S. AANA (Average Aggregate Notional Amount) calculation period for uncleared over-the-counter (OTC) derivatives. By next week, all U.S.-based firms should know whether they are in-scope (or not) to move Initial Margin (IM) beginning September 1, 2020. What happens next? If your firm is not in-scope – cong...
28 August 2019 /regulation Financial Services Regulation
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