4465 Results from /regulation
Anna Kuzmina Expert at Fintech
Issyk Kul Photo by Igor Tverdovskiy on Unsplash I love to share personal stories of the troubles I get into in different places around the world. Especially when it comes to payments, my professional field. This is a story of the payment product UX gone wrong because of one teeny tiny detail, and the
25 September 2024 /payments /regulation Fintech
Adam Preis Global Strategist at Ping Identity
The UK’s financial regulatory landscape is known for its comprehensive oversight, securing consumer interests and rights, and focus on maintaining fair, competitive markets. While the country’s financial rules aim to protect consumers and ensure market stability, they also emphasise innovation, particularly in the post-Brexit era. Central to this ...
25 September 2024 /regulation /identity Banking Regulations
Jeremy Takle Founder and CEO at Pennyworth
Artificial Intelligence (AI) is the world’s next transformative technology, offering unprecedented opportunities for productivity and growth. However, instead of embracing the transformative power of AI, some governments are reacting with excessive caution. This is often driven by fear and zero-sum thinking that fails to grasp the massive potentia...
24 September 2024 /ai /regulation Artificial Intelligence and Financial Services
Erica Andersen Marketing at smartR AI
Recently SCOTi®AI answered the following controversial questions: If large language models (LLMs), like SCOTi, are beginning to ‘express opinions’ on such controversial topics, then does SCOTi have the right to free speech? Who is responsible for SCOTi’s opinions and what right(s) does SCOTi have to express them? With the first case of libel bei
23 September 2024 /ai /regulation Artificial Intelligence
Ben O'Brien Managing Director at Jaywing
On 12 September 2024, the Prudential Regulation Authority (PRA) issued PS9/24, marking the second part of the near-final ruleset that addresses credit risk, the output floor, and Pillar 3 disclosures. These rules were accompanied by supervisory statements on Internal Ratings-Based (IRB) approaches and the definition of default. The PRA also release...
19 September 2024 /regulation
Anand Naik CEO at Sequretek Inc
In today’s financial services sector, the approach to cybersecurity has fundamentally shifted. Traditional defenses, focused on protecting a defined perimeter, are no longer sufficient. As organizations adopt cloud-led digital transformation, mobility, and hybrid work environments for their employees, these access points have become prime targets ...
18 September 2024 /regulation /identity
Kyrylo Reitor Chief Marketing Officer at International Fintech Business
Securing an Electronic Money Institution (EMI) license in the European Union is a pivotal move for businesses wanting to offer electronic payment services. This license not only boosts a company's credibility but also allows it to operate across all EU member states. Here’s a streamlined overview of the licensing journey. 1. Grasp the Regulatory ...
18 September 2024 /payments /regulation Electronic Bank Account Management
Lars Frösslund Head of Strategy & Transformation at SkySparc
The new Instant Payments Regulation (IPR), effective April 8, 2024, mandates that European banks and payment service providers offer instant euro transfers at the same cost as regular transfers, with full implementation deadlines set for January 2025 for Eurozone banks. This regulation requires payments to clear within 10 seconds, 24/7, impacting ...
16 September 2024 /payments /regulation
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
Home- and SME-business e-banking was introduced in Finland in the early 80s. It became a success first because of bill payments and as employees were allowed to use workplace computers for personal banking (modems for home PCs were not that common first). Share trading and other bank services were added soon after. Interconnecting customers with e...
11 September 2024 /regulation /identity Innovation in Financial Services
A correspondent bank account is a vital system of relationships between financial institutions that facilitates international payments. Here’s a breakdown of the types and benefits of these accounts: Types of Correspondent Accounts 1. Nostro Account: An account a bank holds with a foreign bank. For instance, a Ukrainian bank may have a Nostro accou...
11 September 2024 /regulation /wholesale Banking
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