4474 Results from /regulation
Retired Member
Usually when a new regulation comes in, its goal is to make things more secure, more private, or more inclusive, but often, at the expense of the service provider or convenient ways of working. For once, we may see a regulation that comes in and everyone wins. The second payment services directive, PSD2, has a new requirement deadline coming in Se...
20 May 2019 /regulation Banking Regulations
Iain McDougall UK & Ireland Country Manager at Stripe
Europe is bracing itself for a big shake-up in how we pay for things online, which will have significant consequences for businesses across the region. Similar to how GDPR hugely impacted how millions of organizations handle personal data when it was enforced last year, Strong Customer Authentication (or SCA) will have profound implications for ho...
16 May 2019 /payments /regulation Fintech
Globally, banking M&A market is showing signs of improvement with 41 percent of companies intending to pursue acquisitions. The value of M&A deals in the Middle East region jumped to $33.7 billion last year, the highest level since 2007 as per Bloomberg research. While in the European market, M&As have stagnated with changing regulator...
14 May 2019 /regulation Digital Banking Trends
Evgeny Likhoded CEO & Founder at ClauseMatch
Artificial Intelligence (AI) is the latest technology to permeate the fast-moving financial sector, finding applications in everything from trading and fraud detection to credit risk evaluation and marketing. The widespread deployment of AI within financial services organisations stands to unlock an additional $1.2 trillion in value by 2035 accord...
14 May 2019 /ai /regulation Financial Services Regulation
The evolving requirements of ESMA and Market Abuse Regulation (MAR) persuade Reporting Entities to strategize the reporting structure of a trade. Since MiFID II implementation, it is aiming at increasing investor protection by creating a more efficient, risk-aware and transparent market for investment services and activities. This regulatory init...
14 May 2019 /regulation MiFID
Today, a well-established correspondent network is a major strength for many banks and payment services. If earlier the client’s choice and demand for services were driven by the size of the advertising budget, right now the issues of financial logistics are in the forefront: how the client money will be transferred to different countries and regi...
13 May 2019 /regulation /startups Fintech
PSD2 requires that Account Servicing Payment Service Providers (ASPSPs) shall design their channels in such a way so that Third Party Providers (TPPs) are able to identify themselves when accessing these channels. The ASPSP shall be able to recognize that it is a particular regulated TPP accessing the account and not the end-user himself. Article ...
13 May 2019 /regulation Open Banking
Tautvydas Medziukevicius Legal Counsel at Swiipe
The Second Payments Services Directive (PSD2) is opening many doors for small companies in a bank-dominated industry. With the new rules some of the competences are transferred from the banks to the hands of the consumers. Consumers have the authority, through consent, to allow smaller companies to use consumers’ bank accounts to provide unique se...
07 May 2019 /regulation /startups Open Banking
Freddie McMahon Director Strategy and Innovation at DF2020 Ltd
By Regulation we mean national law and its extensions such as defined by Regulators and Standards, and the way its applied in practice through Policies and Procedures. The problem is compounded through International Trade and Operations, which covers Regulations from multiple jurisdictions. An annual CEO survey has identified regulation overload a...
04 May 2019 /regulation Finextra site news
Ron Cogburn CEO at Exela Technologies
“Know your customer” (KYC), while a critical regulatory requirement, can quickly get gummy and frustrating when data is scattered across multiple systems. Financial institutions collect massive amounts of customer data—where people live, what they drive, whether they own homes, what credit cards they use—that can satisfy anti-money laundering (AML...
02 May 2019 /regulation Bigger than Technology
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