4364 Results from /regulation
Karla Booe Chief Compliance Officer at Zeta Services Inc.
Artificial intelligence (AI) has been used in banking for decades now. AI-assisted decision-making, machine learning-led automation, and chatbots, have all been around and found their place in making banking more efficient and scalable. What’s changed is the sophistication of our computing power and, of course, Gen AI. 2023 saw a series of AI-f...
07 November 2024 /ai /regulation Artificial Intelligence and Financial Services
Francesco Fulcoli Chief Compliance and Risk Officer at Flagstone
The UK Government’s introduction of the "Failure to Prevent Fraud" offence under the Economic Crime and Corporate Transparency Act 2023 marks a significant milestone in the fight against corporate fraud. This new offence places a legal obligation on large organizations to actively prevent fraud by their employees, agents, or subsidiarie...
06 November 2024 /regulation /crime Fintech
Nkahiseng Ralepeli VP of Product: Digital Assets at Absa Bank, CIB.
South Africa’s regulatory landscape is witnessing a calculated embrace of digital assets, driven by the Financial Sector Conduct Authority's (FSCA) forecast in its Q3 Industry Newsletter (December 2023), projecting that 43% of South Africans will have exposure to crypto assets by 2030. This projection isn't merely optimistic—it reflects the country...
05 November 2024 /regulation /crypto
Raj Bakhru CEO at BlueFlame AI
Today’s finance leaders are increasingly tasked with privacy, security, and compliance concerns, particularly those in financial services firms as they race to harness the potential of generative AI for efficiency and productivity and elicit the most benefit. AI now presents these leaders with a new slate of concerns and level of complexity as the...
05 November 2024 /ai /regulation
Dirk Labuschagne Chief Information Security Officer at Direct Transact
The past year was the worst on record for ransomware attacks around the globe. In the past year, ransomware attacks were the worst on record due to an estimated 92% year-on-year global increase. Criminals made off with more than $1 billion in cryptocurrency payments from victims and left a trail of destruction in their wake. This is why ransom
04 November 2024 /security /regulation Information Security
Ben O'Brien Managing Director at Jaywing
UK banks face significant changes to regulatory capital requirements under the Basel 3.1 framework. The PRA’s recent publication, PS9/24, sheds further light on these changes but also brings new challenges for firms working to meet compliance standards. In this post, we’ll focus on the IRB part of the ruleset, detailing the essential steps firms ne...
31 October 2024 /regulation
With the FCA’s ongoing investigation into Discretionary Commission Arrangements (DCAs) and pivotal updates expected in May 2025, a recent Court of Appeal ruling has further shifted the balance in favour of consumers. On 25th October, the court declared the use of 'undisclosed commission' in motor finance contracts unlawful. This landmark ruling wil...
Klaas Stijnen Co-Founder & Co-CEO at Montoux
The pressure on actuaries today is relentless: growing regulation, cost pressure and a market hungry for smarter, more competitive pricing and products. The answer seems obvious - leverage the best technology to do more with less (or even just keep pace!). But innovation isn’t just a matter of ‘wanting it’; platform modernization comes with a uniq...
30 October 2024 /regulation /predictions
Kyrylo Reitor Chief Marketing Officer at International Fintech Business
The European Payment Services Directive (PSD2) has ignited a fintech revolution across Europe, spurring the growth of Electronic Money Institutions (EMIs). As fintech companies seek to capitalize on this opportunity, understanding the most conducive jurisdictions for obtaining an EMI license is paramount. In 2025, these five European countries sta...
30 October 2024 /payments /regulation Financial Services Regulation
Ilona Cohen Chief Legal and Policy Officer at HackerOne
Over the last few years, the financial industry has been tightening the rules to counter growing cybersecurity threats. Sensitive credit and payment card data are naturally a top target of cyber criminals and therefore a priority for security efforts, especially as the cost of data breaches rises to an average of $4.88 million. This is where the...
28 October 2024 /security /regulation Banking Regulations
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