Konstantin Rabin Head of Marketing at Kontomatik
I recently stumbled upon a very interesting infographic that I think captures the current state of the cryptocurrency world very well. The infographic was published by Forexnewsnow and captures some of the important statistics about the world of cryptocurrency today. Cryptocurrency regulation map The first map on the infographic is the cryptocurren...
15 April 2019 /regulation
In our previous discussion about ESMA, we were praising the regulatory move by the EU for its potential to protect retail clients from irks. But, after taking a close look at the effect that the regulation was having on the operation of brokes, we became slightly skeptical. We realized that there were some issues with the regulation that we were n...
12 April 2019 /regulation
Chris Holmes Senior Vice President at KAE Consulting
When contemplating FinTech in China, Alibaba and Tencent – among the world’s largest FinTech disruptors – will most likely be at the forefront of discussions. With market capitalizations of around half a trillion US$, the two tech giants account for over 90% of mobile transactions in China (through Alipay and WeChat Pay). However, mobile payments ...
10 April 2019 /regulation Asia Financial Services
Nancy Weir Industry Principal at Pegasystems
A long, long time ago…. well, actually not so long ago, in the land of KYC, the customer was at the end of the food chain in the eyes of those operating in the KYC space, the Compliance and Back Office staff charged with preparing and approving the KYC due diligence cases. “A necessary step to getting the work done” or “the reason for not complet...
09 April 2019 /regulation Banking Strategy, Digital and Transformation
Freddie McMahon Director Strategy and Innovation at DF2020 Ltd
The growing recognition of new value creation from using chatbots has amplified market hype, even though there are many genuine cases delivering benefits. This growing momentum has cultivated a populist belief that natural language processing, powered by machine learning, is fit for purpose in any context. Furthermore, it has cultivated a sense-mak...
09 April 2019 /ai /regulation Innovation in Financial Services
Retired Member
Losses totalling £354m arising from Authorised Push Payment (APP) scams were recorded in 2018. This staggering number of losses represents a total of 83,864 victims, the majority of which were on personal accounts. To help reduce cases of APP scams and to minimise the impact the crime can have on consumers, a Voluntary Code and a Confirmation of P...
09 April 2019 /payments /regulation
Barley Laing UK Managing Director at Melissa
Recent research points to an increase in financial crime as criminals take advantage of access to billions of compromised data records for sophisticated application fraud attacks targeted at financial institutions. The research we carried out with the AITE Group in 2018 found that 13 billion data records were stolen or lost in the US since 2013, wh...
08 April 2019 /regulation Banking Strategy, Digital and Transformation
Breana Patel CEO | Thought leader in Bank Risk & Regulations at Bonova Advisory | Risk &Regulatory Advisory
The rapidly expanding realm of artificial intelligence (AI) presents a powerful tool for meeting the requirements of regulatory oversight. But like any powerful tool, using it incorrectly can lead to disaster. I have seen firms allocate large budgets to onboard extremely advanced technology to solve a particular challenge, but their efforts are no...
05 April 2019 /ai /regulation Banking Strategy, Digital and Transformation
The world will never be the same again - regardless of when and under what conditions Brexit will actually happen (and whether it will happen at all): certain things, including the financial world, will never go back to the way they were. First and foremost, financial companies with British licenses have realized the risk of losing authorization t...
05 April 2019 /regulation Fintech
In the wake of another whopping FCA fine of £34.3m to Goldman Sachs last week, following the £27.6m UBS fine, are the bigger players ignoring the regulations? MiFID and MiFID II introduced more regulatory overheads to firms in the UK, as well as the rest of Europe. Major projects have been set up and delivered on with overall costs amounting to bil...
04 April 2019 /regulation MiFID
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