Steven Rackham CTO for Financial Services at NetApp
The enforceable deadline for DORA is now under a year away and organisations in the FS sector are in a difficult position. Preparing for any change in regulation is hard enough, but with the European Banking Authority yet to publish the final technical specification or a list of critical IT providers, businesses are effectively still in the dark i...
22 February 2024 /regulation /cloud Banking Regulations
Julija Jevstignejeva Banking infrastructure for business at Magnetiq Bank
In an era where digital transactions are the backbone of the global economy, ensuring the integrity and transparency of information on cross-border payments and card transactions has become critical for governments worldwide. Recognizing this, the European Union took a significant step on 18 February 2020, when the Council adopted a legislative p
22 February 2024 /payments /regulation Banking
John Bertrand MD at Tec 8 Limited
EU mandatory regulations for instant credit transfers within the Single Euro Payments Area (SEPA) are right on the money. The key requirement is verification of payee. Today this is absent in the UK, apart from ten mandated banks plus a few more. IBAN (International Bank Account number) is being supplemented to identify the actual owner of the ac...
21 February 2024 /payments /regulation Banking Strategy, Digital and Transformation
Craig Butterworth Chief Commercial Officer at Droit Fintech
As I spend my days meeting with clients, chatting with partners and speaking at conferences, I've noticed a considerable shift in attitudes towards pre-trade controls. There is a tacit acknowledgement that regulators are preparing to crack down in this area. In effect, regulators, led by the UK’s PRA (and soon to be followed by the Fed and ECB), w...
21 February 2024 /regulation /markets
Paul Marcantonio Head of UK/Western Europe at Ecommpay
Card schemes were planning to increase fees, according to reports last autumn. Then the UK Payment Systems Regulator (PSR) announced in December 2023 provisional proposals to introduce a price cap for cross-border interchange fees. What’s the alternative? A perennial hot potato Many merchants and industry players feel that there’s a duopoly betwee...
19 February 2024 /payments /regulation
Nick Green Director at Purple Patch Broking Ltd
Andrew Bailey is under pressure. While there’s been progress in getting UK inflation down, it’s too early to declare victory, just yet. If they cut interest rates too soon and too rapidly—they risk a resurgence of price pressures. If they wait too long—they could do unnecessary damage to the economy, consumer affordability, and labour market. At t...
15 February 2024 /regulation /retail Banking
Steve Dance Managing Partner at RiskCentric
High, medium or low? What does it mean? Does anyone know? This concept of risk appetite as a means to set a risk management strategy has, I must admit, baffled me since it first started to creep into the vocabulary of risk management. And, frankly, I'm not sure any of the statements really mean anything: if company A says their risk appetite [t...
15 February 2024 /security /regulation
Joris Lochy Product Manager at Intix | Co-founder at Capilever
In the financial services sector, Anti-Money Laundering (AML) continues to be a topic of intense debate. Discussions oscillate between advocating for stricter regulations and questioning the extent of banks' responsibilities in overseeing (policing) financial transactions. AML regulations are pivotal in preventing the use of financial institutions...
13 February 2024 /regulation /crime Banking Regulations
Abhinav Paliwal CEO at PayNet Systems- A Neo Banking Software Platform
In an era of rapid technological innovation, the landscape of payment authorization is changing. The Reserve Bank of India (RBI) recently highlighted the necessity to look at alternatives to One-Time Passwords (OTPs) for protecting digital transactions. The call for development offers an array of options, offering both increased security and a bet...
13 February 2024 /payments /regulation Finextra site news
The FCA recently unveiled new consumer protection guidelines that signal a major shift in credit data management. These rules require financial services firms not only to meet formal compliance standards but also to proactively consider customer interests and welfare. In addition, the FCA simultaneously signaled that crowdfunding and peer-to-peer ...
13 February 2024 /regulation /retail Banking
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.