4226 Results from /regulation
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
Ben Parker CEO at eflow uk ltd
The global financial landscape is currently battling a variety of simultaneous shocks that have made it vulnerable to market abuse. In March of last year, Fabio Panetta, of the European Central Bank’s Executive Board, delivered a speech where he declared that we are in the wake of a series of global shocks. From events such as the pandemic, supply...
12 February 2024 /regulation /crime RegTech
The era of tiresome, hidden cross-border payments is ending, giving way to a smooth, digitized future powered by open banking APIs. This blog explores how these new connections alter the financial environment, giving your bank unprecedented growth and consumer happiness. Imagine a future where : Sending money across borders feels as easy as send...
07 February 2024 /payments /regulation Finextra site news
Paul Holland CEO at Beyond Encryption
The UK is currently in the midst of a pension fund crisis. With state pensions now funded on a pay-as-you-go basis, the average life expectancy rising and the cost-of-living crisis worsening, pensioners are feeling the pressure. Consequently, we’re now seeing a rise in private pensions, but these are not enough to resolve the issue. In addition, ...
05 February 2024 /regulation Regulatory Reporting
Retired Member
In this epoch of AI, serious questions about regulations and laws for AI are being raised but why now, and if not now, what will be the consequences. The question seems valid since we have been working and utilizing AI in many forms like probabilistic estimation studies of Economics to Video games for the last 70 years after the name Artificial In...
04 February 2024 /regulation /people Artificial Intelligence
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