Chris Holmes Senior Vice President at KAE Consulting
During the past months, the Federal Reserve’s Faster Payments Task Force has made huge steps towards the implementation of a faster payments / real-time payments system in the US. As a result, the Fed’s RTGS (Real Time Gross Settlement) system is said to be ready to launch in 2020. Immediate loan availability, mobile payments, real-time invoicing ...
30 May 2019 /payments /regulation Financial Services Regulation
Dmitrii Barbasura Chief Operating Officer at Fintech Galaxy
According to PSD2, the financial institutions that act as ASPSPs should have in place at least one interface for regulated TPPs (including other ASPSPs that act as TPPs) for identification and secure communication. Identifying themselves is mandatory for all TPPs that wish to get access to ASPSP’s sandbox, live API, and/or non-dedicated interface ...
30 May 2019 /regulation Banking Regulations
Retired Member
Today ESMA changed their mind on the share trading obligation (STO) in the event of a No-Deal Brexit. Under their new approach, any ISIN with the GB country code is now out of scope. Obviously, this change reduces the number of ISINs where EU buy-sides are forced to trade at home. Most importantly, among those instruments no longer subject to the ...
29 May 2019 /regulation MiFID
Anjani Kumar Principal Consultant - FS Risk & Compliance at Infosys Limited
If we think trade abuse and market manipulation is generally passé and that financial institutions (FIs) should no longer worry about rogue trading activities such as those perpetrated in the past by the likes of Nick Leeson, Jérôme Kerviel, Toshihide Iguchi, John Rusnak and Yasuo Hamanaka, we need to think again! The reality is that still today r...
27 May 2019 /regulation
Artificial intelligence (AI) is being used throughout digital transformation initiatives and is changing how banks perform client on-boarding, anti-money laundering (AML) and know-your-customer (KYC) compliance. Additionally, for the purposes of anti-money laundering, artificial intelligence systems can mine large amounts of transaction data and i...
24 May 2019 /ai /regulation Banking Strategy, Digital and Transformation
The arrival of e-commerce and digital banking has been revolutionary for both financial services firms and customers alike. We have saved not only time, but also money as new marketplaces and low-asset business models have thrived on the flexibility afforded by open banking. Never before have we had better control over our money and financial serv...
24 May 2019 /regulation Fintech
Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions
Since I wrote Flight Delay Insurance – Why Blockchain?, I've come across several updates that have reinforced my skeptical views around the claim of decentralization and raised new doubts about the touted advantage of resilience. UPDATE #1: Let me take the following observation in my original post: Data is distributed across multiple nodes, so the...
23 May 2019 /regulation
Financial institutions, which are preparing to meet Regulatory Technical Standards (RTS) of Open Banking, are currently facing a shortage of live Open APIs. For any bank that wishes to get ready for the Open Banking era, the only viable choice is using account aggregators, many of whom provide solutions based on “screen scraping”. What is screen s...
22 May 2019 /regulation
Jackie Barwell Director at ACI Worldwide
The eCommerce industry is continuing its rapid growth and the lines between physical and digital shopping are becoming increasingly blurred. This change in the way consumers conduct purchases is creating a number of challenges for merchants, especially when it comes to customer visibility and fraud prevention. Providing a good customer experience...
20 May 2019 /security /regulation Transaction Fraud Systems and Analysis
The US has more than 250 million drivers today and we are curious about how car insurance is impacting them. Are they paying more in the recent years or less and how technology has been able to change (or not) the impacted rates. Consumers need to be educated and informed about auto insurance. They need to be given all data which determines the rat...
20 May 2019 /regulation
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