4463 Results from /regulation
Jeremy Light Co-founder at Fourdotzero
770 words, 3 minute read The Wirecard debacle has hit the headlines with a vengeance, begging the question: flawed regulation or flawed Fintech models? On first appearance, it feels like that there is a regulatory problem. However, it looks like this is an old fashioned accounting fraud, that just happens to be with a payments processor. The missin...
06 July 2020 /payments /regulation Fintech
Retired Member
PSD2 obliges ASPSPs including banks, e-wallets, prepaid cards and other companies that offer payment accounts to provide at least one channel for secure communication with third party providers (TPP). Even neobanks or e-money institutions, including their agents, have to provide such channels with sandbox environments published 6 months before goi...
30 June 2020 /payments /regulation Open Banking
Mitzi Pryce Senior Consultant at BCS Consulting
2020 is an unprecedented year for business. The global COVID-19 pandemic has decimated economies worldwide and with Brexit looming, the future for UK business is unclear. Just as Alice fell into Wonderland in Lewis Carroll’s Through the Looking Glass, we have fallen down an economic rabbit hole where nothing is certain and everything is possible. ...
25 June 2020 /regulation /covid-19 Financial Services Regulation
Yamen Bousrih Manager Business Expert at Vermeg
SRD II won’t be postponed! The verdict came from the European Commission earlier this month! Despite the joint letter sent by several post-trade groups and the call to postpone the deadline of SRD II and the Implementing Regulation, the European Commission decided earlier this month to go ahead with the implementation of the directive as originall...
25 June 2020 /regulation /covid-19 Banking Regulations
Adam Krug CLM Ambassador at Pegasystems
30 years ago, financial services built everything in-house. Nowadays, with so many off the shelf software products for trading and transaction systems – accounting, HR, CRM to name a few – the challenge now is which vendor to select. In the words of Tony Soprano, “Believe none of what you hear and half of what you see.” When it comes to investing...
24 June 2020 /regulation /crime Financial Services Regulation
James Gannaway Head of Financial Services at Board International
The Bank of England (BoE) is postponing its climate stress tests, which have been previously well regarded as a ground-breaking initiative to enable in-depth analysis of the impact of global warming on business models and operations of both banks and insurers. The bank’s Prudential Regulation Authority (PRA) and the Financial Policy committee in a ...
24 June 2020 /regulation /sustainable
Paul Shumsky Founder at @Finpace.tech
KYC and AML complicance can be considered as the most costly policies to implement and maintain. Furthermore, it is one of the factors holding back the financial innovation as early-stage startups have to deal with complicated processes, hire compliance teams and pay huge amounts to KYC data providers. And while many digital banking platforms alr...
23 June 2020 /security /regulation Digital Identity Management
The financial services industry has seen ISO 20022 grow firmly over the last 15 years. What was then a small pocket of countries tackling migration has now become widespread adoption for domestic and international payments. And with momentum building, it is clear that IS0 20022 is playing a foundational role for banks in the transformation of their...
22 June 2020 /payments /regulation Banking Strategy, Digital and Transformation
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
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