Retired Member
The European Commission’s draft EU law to regulate instant payment (IP) services has arrived. It’s a development we’ve all been expecting, yet earlier than planned. The intervention and early publication stresses to the industry just how important the Commission views the need for ubiquity in payments pan-EU. Despite its many attempts to nudge and...
17 November 2022 /payments /regulation Payments strategies 2015-2020-2030
Since the creation of the Mesopotamian shekel, the first known currency minted 5,000 years ago, some medium for exchanging goods and services has existed. People like money so much that our world revolves around its creation and exchange. In 2008, a new currency entered the financial lexicon. This innovation in monetary exchange was based on a pap...
16 November 2022 /regulation /crypto
Over the past few years, the financial services sector has undergone a complex regulatory evolution. Even past the usual flow of regulation change and shifting reporting standards, there are two key trends driving this change, and which put firms at risk of falling behind if not grappled with effectively. The first trend is the ever-growing inves...
15 November 2022 /regulation /sustainable Financial Services Regulation
Martin Bradbury Regional Director, Financial Services UK&I at Dynatrace
Financial services providers operate some of the most critical systems that both consumers and businesses interact with on a daily basis. Everything from buying a coffee to paying an invoice or taking out a mortgage is dependent on having continuous access to a bank and its services. It is vital that these services are resilient and always availab...
15 November 2022 /regulation /cloud Banking Regulations
David Ritter Director, Financial Services Strategy at CI&T
There’s an anonymous quote that circulates social media, often used to lament today’s ‘Age of Undiscovery’ and the drab lack of exploration, and excitement, within: “Born too late to explore the Earth, born too early to explore the galaxy.” This may be true in the physical sense. Yet it’s easy to forget our generations are the first to navigate mul...
14 November 2022 /regulation /crypto Cryptocurrency Insights
Harriet Christie Chief Operating Officer at Mirrorweb
The UK Financial Conduct Authority’s (FCA’s) latest strategy document sets out its overarching strategy for the next three years, with the new Consumer Duty being the ‘cornerstone’. The long-awaited overhaul signifies a pivotal moment in UK financial services, as the regulator attempts to modernise the framework through which the sector is govern...
09 November 2022 /regulation /retail Financial Services Regulation
Aiming to guarantee UK’s place in the forefront of sustainable investment internationally, the FCA has just launched their consultation paper on Sustainability Disclosure Requirements (SDR) and investment labels. According to the regulator, the market for UK-listed investments funds grew 64% in 2021 to reach 79 billion pounds ($89.34 billion). Ho...
07 November 2022 /regulation /wealth Banking Regulations
Farnoush Mirmoeini Co-founder at KYC Hub
Such is the frustration around frictions in cross-border payments the G20 decided to put its stake in the ground and make the improvement of cross-border payments a priority back in 2020. A couple of years on and the state of play has been assessed, 19 building blocks have been identified and set out in a roadmap and the G20 has provided much need...
07 November 2022 /payments /regulation
Last week the European Commission published a draft proposal to amend SEPA legislation. They have commented that the adoption of SEPA Instant Credit Transfers has lagged, and this set of new rules will act as a much-needed push for banks and Payment Service Providers (PSPs) to offer 24/7 instant euro payment services. This move is very welcome. A...
03 November 2022 /payments /regulation SEPA and European Payments
Paul O'Sullivan Chief Executive Officer at Aryza Lending Solutions at Aryza
Despite regulations being designed to simplify compliance processes and minimise credit risk, the pace of change in the financial services world is so fast that staying on top of these changes can be challenging. The IFRS 9 is one such example. Since it came into force four years ago, we’ve suffered from a global pandemic, the increased use of buy...
02 November 2022 /regulation RegTech
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