4367 Results from /regulation
Ilia Dragan Co-Founder | Chief Product Officer at ShoppingOS
According to the second Payment Service Directive (PSD2), all the financial institutions that provide payment accounts (ASPSPs) - banks, e-wallets, prepaid cards, neobanks and e-money institutions with their agents - must have in place at least one channel for secure communication with third party providers (TPP). They can choose to offer a dedica...
18 June 2020 /regulation /retail Banking Regulations
Adam Holden Chief Executive Officer at NorthRow
On the 31st December 2020, the UK will complete its transition period to leave the European Union (EU), with or without a trade deal agreement in place. Whilst we anticipate that Brexit will affect regulatory compliance for many sectors, the full extent of the impact is somewhat unclear until negotiations have been finalised. In this article, we d...
15 June 2020 /regulation
Retired Member
A commonly heard term in the banking industry is KYC (Know Your Customer). KYC is the process or step in which there is an assessment of the customers’ profile. It evaluates the risk of the customers of a bank or financial institutions to ensure that they comply with the Anti-Money Laundering (AML) laws. With the emerging technologies like Artifi...
13 June 2020 /regulation Banking Strategy, Digital and Transformation
The term Artificial Intelligence is nothing but a computer program embedded with aspects of human intelligence i.e the ability to think like human beings. In the upcoming years, AI along with machine learning, data analytics and deep learning would be a major thing across industries. One such industry that has been revolutionized by AI is the fina...
12 June 2020 /regulation /covid-19 Artificial Intelligence and Financial Services
Adam Krug CLM Ambassador at Pegasystems
2019 saw the FCA dishing out the highest level of fines ever, totalling nearly £400m in a twelve-month period. This included hefty penalties relating to anti-money laundering failings. However, in the FCA’s 2019 thematic review the organisation did provide its recommendations for how banks can better their AML processes, stating, “For an effectiv
09 June 2020 /regulation /crime Financial Services Regulation
Anna Monteiro Global Head of Business and Product Development at www.solutions-atlantic.com
Late 2018 into early 2019, there was increasing attention put on foreign direct investment in sensitive sectors by several major jurisdictions. At that time, the driver for this focus was a volatile political landscape stemming from the breakdown of trade between the US and China, as well as uncertainty of the US’ involvement in NATO and Russia’s ...
08 June 2020 /regulation /markets Financial Services Regulation
Saloni Ramakrishna Author; Senior Director at Oracle
I have always maintained that at a fundamental level commercial banking, as the name itself suggests, is a business and has the core values and principles of a commercial enterprise - that of Liquidity, Solvency and Profitability. Safety, Stability plus Social and Economic relevance are as critical given that banks are powerful economic instrument...
08 June 2020 /regulation /retail Banking Strategy, Digital and Transformation
Richard Price, UK&I Sales Director, TIBCO Software More than ever before, banks need to stay relevant, as traditional financial services companies are competing with far nimbler challenger brands that are changing traditional service models and product mixes. We’ve seen this accelerate, as the world continues to be turned upside down by COVID-1...
05 June 2020 /regulation /markets Open Banking
Konstantin Rabin Head of Marketing at Kontomatik
The unbounding exemptions for MIFID II have mostly to do with the costs of research services from asset management companies. Due to the very clear monetary difference between the services provided by EU and US-based managers, companies often feel cheated or not obligated to provide the payment for services rendered. To put it more into perspect...
04 June 2020 /regulation MiFID
Sassan Danesh Managing Partner at Etrading Software Ltd
Finance is very much a data business with financial firms critically dependent on good information. They need fast access to comprehensive data, which provides them with insight in order to provide services and compete effectively. As a result, firms have been making significant investments in new technologies to improve their analysis and store l...
02 June 2020 /regulation /markets Banking Regulations
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