Claus Christensen CEO at Know Your Customer
Over the last few years, the success of so-called digital and challenger banks has depended largely on their ability to market themselves as “different”. An increasing number of retail customers have been abandoning traditional banking in favour of new digitally minded players, in part, because they felt that a lot of the fees that were imposed on...
15 March 2019 /regulation /retail Disruption in Retail Banking
Jennifer Locker CMO at Accuity
Some of the best advice I have received as a woman has been from my mother. At a very early age she instilled in me two core pearls of wisdom. Firstly, that I could do whatever I wanted as long as I stayed focused on achieving it. Secondly, to not ever end up being financially dependent on a man in my relationships. What that translated into was an...
12 March 2019 /regulation Women in FinTech
Gustav Korobov Senior Sales Executive - Core Banking platform at Advapay
Recently we published news on the survey that indicated that about a third of UK businesses are considering relocation due to Brexit. Many Authorised Payment Service Institutions and Authorised E-money Institutions based in the the UK also acquired licenses in the EU Member States and established subsidiaries or at least made applications. There ...
12 March 2019 /regulation Financial Services Regulation
Bob Lyddon Consultant at Lyddon Consulting Services
This is the first of 8 blogs on the Contingent Reimbursement Model code (or “CReM”) that has been finalised by an offshoot of the UK’s Payment Systems Regulator called the Authorised Push Payments Scams Steering Group. The PSR announced the unveiling of the final version of the CReM with the usual fanfare. This is the code, a year or more in the pr...
08 March 2019 /payments /regulation Transaction Banking
Neil Crammond risk education & real time market abuse at DIVENTO FINANCIALS
It must be election year in Europe as the "tobin Tax " has yet again appeared on our radars ? James Tobin in the early seventies tried in vain to introduce this idea and most governments since have attempted to implement it as seeing the £££££$$$$ falling into their laps , luckily poiliticans are not businessmen/women . Back in 201...
08 March 2019 /regulation
Anne Plested Regulation at ION Markets
ESMA has released a statement which amongst other things includes clarification for EU investment firms that they will have to publish their OTC trades via an EU APA if a UK counterparty is involved. Whilst in Europe this approach may serve to ensure post-trade transparency within the EU27, it is also true that the UK counterparty could be requir...
07 March 2019 /regulation
Retired Member
In my last article I highlighted the importance for any business handling payment security data to keep it adequately protected by adhering to PCI DSS standards. The consequences for those that do not comply with the regulations could be dire; including loss of consumer and supplier trust, but also a fine from regulators if a data breach occurs. O...
06 March 2019 /payments /regulation Banking Regulations
James Varga CEO at The ID Co.
Following the one-year anniversary of Open Banking going live in the UK, I was struck by how many headlines suggested it had somehow “failed” or is otherwise not fit for purpose. The negative press surrounding Open Banking has stemmed from a variety of viewpoints. Some from a lack of understanding by journalists on the subject, some concerned wit...
06 March 2019 /regulation Open Banking
Bloomberg recently identified an uptick in ads for in-house compliance roles at influential fintechs. Positions at the likes of Betterment LLC, Coinbase Inc and the Wealthfront Corp started to crop up, suggesting a wider trend towards in-housing regulatory roles. Cynics might say this latest trend is simply a PR exercise, but there are other benef...
06 March 2019 /regulation Innovation in Financial Services
Nancy Weir Industry Principal at Pegasystems
Let’s face it. Onboarding and KYC operational processes have had to change significantly over the last 10 years as regulatory requirements and customer expectations have changed. Long gone are the days of financial institutions being able to rely on relationship managers “knowing” who their customers are, and where they got their wealth. The fi...
05 March 2019 /regulation Banking Strategy, Digital and Transformation
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