4138 Results from /regulation
Retired Member
In a world where everything has gone digital, and according to a statement made back in 2011, by the highly successful entrepreneur and investor, Marc Andreessen - "Software is eating the world" Why do people want to fill out a form with a pen? Over the past 6-12 months I have onboarded/opened accounts with the following products/services...
19 July 2017 /regulation Digital Banking Trends
A few years after Bautista closed his business I casually met him in a cafe nearby the Town Hall. After saying hello to him and asking how were things going (not very well, I must say) we started talking about his business and why he had closed it down. He said that he did not understand why the Town Hall passed a law to promote competition in fin
18 July 2017 /payments /regulation Online Banking
The Payments Services Directive 2 (PSD2) is shaking up the industry, and for good reason. There is sometimes a tendency for the payments ecosystem to expect doom and gloom when it comes to new regulation; seeing it as restrictive, unnecessary interference, or costly. The reality is that PSD2, along with other regulatory changes across Europe and t...
17 July 2017 /payments /regulation Transaction Banking
As the volume and market share of online payments explodes, are AML efforts keeping pace? The volume of online payments is skyrocketing. Worldwide, retail ecommerce sales reached $1.915 trillion in 2016 – nearly a 24% growth rate over 2015. This number is expected to continue to grow in 2017. eMarketer estimates that online retail now accounts for...
17 July 2017 /payments /regulation
I live in a town called Villa Arriba (uphill town in Spanish), which is very close to Villa Abajo (downhill town). Although they are close, they communicate through intricate mountain roads and there is not much business between both. Although in the recent crisis many banks merged, there are still plenty of them in Villa Arriba. However, there see...
15 July 2017 /payments /regulation Online Banking
When GDPR comes into effect in May 2018, financial institutions are going to feel the impact of this legislation throughout their entire business model, including how they execute and manage Know Your Customer (KYC) processes. At the moment, we accept that if we want to open a bank account, or get insurance, we have to submit a passport or birth ce...
13 July 2017 /security /regulation
Ivy Schmerken Editorial Director at FlexTrade Systems
A wave of consolidation has hit high-speed trading firms and brokers in the past few months, and many are blaming low volatility and weak trading volumes in the face of rising compliance and market data costs. Starting with electronic market-maker Virtu’s acquisition of rival KCG in April, Two Sigma Securities buying options market-marker Timber Hi...
12 July 2017 /regulation
Darren Thomas MD at IHS Markit
With the clock counting down to MiFID II compliance, impacted dealers and other financial institutions are steamrolling ahead to prepare. Regulatory change management leads within these firms face multiple workstreams in managing the path to becoming compliant with the wide-encompassing Directive. In managing timelines to adherence, dealers shoul...
12 July 2017 /regulation Financial Risk Management
Nanda Kumar CEO at SunTec Business Solutions
The Post API World The future of banking is being completely altered by the Payment Services Directive 2 (PSD2) which comes into play in January 2018. PSD2 opens the floodgates to financial services innovation. Instead of making banking more complex, PSD2 is forcing banks to open up their systems of record to third parties, including non-traditio...
12 July 2017 /regulation Trends in Financial Services
The soon to be enacted General Data Protection Regulation – better known as GDPR – has been a cause for concern for many financial institutions. Although it represents good news for consumers by strengthening their data privacy, for financial organizations all over the world, it has imposed quite the challenge. Those who do not comply with the new...
06 July 2017 /regulation
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