Aleks Stefanovski VP Banking at Currencycloud
The rise of global e-commerce (particularly mobile commerce) and the emergence of fintech have significantly reshaped customer expectations on cross-border payments. Customers have come to expect simplicity, transparency and standardisation; whether this be paying with a card at the point of sale, making a transfer via a mobile app or conducting a...
09 August 2019 /payments /regulation Banking Strategy, Digital and Transformation
Zac Cohen COO at Trulioo
With a new regulatory update issued every seven minutes and more than $243B in fines levied against financial institutions since the 2008 financial crisis, it’s no wonder compliance professionals are feeling the pressure. With upcoming updates to the Anti-Money Laundering Directive (AMLD) and sweeping changes wrought by the second Payment Services ...
01 August 2019 /regulation
Retired Member
It would be an understatement to say the last 4 years have been a game-changer when it comes to anti-financial crime regulation and the know your customer (KYC) and customer due diligence (CDD) requirements. We’ve seen several important initiatives here in Europe, first with the 4th Anti-Money Laundering Directive (4AMLD), followed by further ame...
01 August 2019 /regulation Banking Regulations
Matt Smith CEO at SteelEye
In today’s highly digitalised world, data is at the core of everything we do. The increased use of technology means that firms now produce and process more data than ever before. This is particularly pertinent in the financial sector, where the widespread adoption of technology and introduction of a number of significant regulatory mandates now re...
01 August 2019 /regulation Financial Services Regulation
Ivy Schmerken Editorial Director at FlexTrade Systems
U.S. lawmakers authorized a study focusing on the provision of investment research for small issuers, a sign they are wary of the U.S. adopting the European Union’s MIFID II unbundling rules which have brought sweeping changes to the research business. On July 9, the House of Representatives passed a bipartisan bill requiring the Securities and Exc...
31 July 2019 /regulation MiFID
Gareth Williams CEO at YellowDog
It’s not news that fraudsters are developing more sophisticated methods than ever before to launder money. But, as Financial Institutions (FIs) are working hard to remove friction from their customer onboarding processes and actively reduce face to face customer interactions, the war on money laundering is being fought on very risky battle lines. ...
31 July 2019 /regulation /cloud Banking Regulations
Today’s financial markets participants must comply with emerging and existing regulatory requirements that dictate the level of precision and accuracy of time needed for transactions. Timestamping and clock synchronisation are an important part of operations in any business that trades. In heavily regulated industries like finance, participants al...
31 July 2019 /regulation Fintech
Dmitrii Barbasura Chief Operating Officer at Fintech Galaxy
According to PSD2, regulated TPPs are allowed to access banks’ PSD2 interfaces. TPPs can choose whether to integrate with banks on their own or to rely on an aggregator - Technical Service Provider (TSP). Regardless of the chosen method, TPPs should identify themselves toward banks for security and traceability reasons. According to PSD2, such ide...
30 July 2019 /regulation Financial Services Regulation
Luke Trigg Co-founder at Logical Construct
Document remediation projects are not new. Anyone working in Capital Markets in recent years can probably describe the steps involved as they tend to be similar each time. Recent battle scars in the derivatives world include Uncleared Margin Reform (UMR) where large volumes of derivatives documents had to be amended – first for variation margin ...
29 July 2019 /ai /regulation Banking Regulations
Mike Kiser Senior Identity Strategist at SailPoint
September 14, 2019 is rapidly approaching, and with it the full mandate of PSD2: open banking will continue to make inroads into the financial fabric of society. While the full realisation of this concept provides opportunity to innovators, it also represents a unique privacy challenge. An Opportunity for Innovation Opening up a stolid market by a...
26 July 2019 /security /regulation Banking Strategy, Digital and Transformation
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