Retired Member
A business which asks for too much information or is confusing about their data needs will simply alienate the customer. Customer onboarding has always been important, but in the new digital world, where most things can be found, bought and sold with the touch of a button, customer expectations and demands have increased. So what happens if there i...
11 December 2020 /regulation /identity Innovation in Financial Services
Darragh Pelly COO at Reitigh Software
Change is the only constant in the financial services sector. This has long been the case; however, the coronavirus crisis has put it on a level like nothing else we have ever seen before. The implications of the pandemic have been far reaching. Falling credit ratings reduced the world of investment grade bonds, face-to-face selling became imposs...
11 December 2020 /regulation /cloud Financial Services Regulation
“The human face is, after all, nothing more nor less than a mask.” Dame Agatha Christie, the famous murder-mystery writer, once said. Our face is just a mask in an ocean of masks, and it only shows what we want to show, not who we really are or how we feel. While this quote refers to the process of how we tend to hide our true emotions, it could al...
10 December 2020 /regulation /identity Innovation in Financial Services
The United States has stepped up its anti-money-laundering practices after taking some heat. In the Financial Action Task Force's 2016 mutual evaluation, the group found: Lack of timely access to adequate, accurate and current beneficial ownership (BO) information remained one of the fundamental gaps in the US. [1] As a result, the United States re...
09 December 2020 /regulation /crime Financial Services Regulation
Barley Laing UK Managing Director at Melissa
The global growth of banks and challenger fintechs based in the western world has long been restricted because of issues related to effective identity (ID) verification. The stumbling block has been large parts of the world’s population, particularly in Africa and Asia, lacking verifiable private addresses and internationally recognised IDs. This ...
04 December 2020 /regulation /identity Banking Strategy, Digital and Transformation
Adam Lieberman Chief AI Officer at Finastra
Across industries, data is recognised as an organisation’s most valuable asset. From data comes knowledge and new insights that can be used to improve every function of a business, from new and better products and services for customers, to operational efficiencies. As data strategies mature, firms are turning an increasingly expectant eye toward ...
27 November 2020 /regulation /startups Artificial Intelligence and Financial Services
Since the 2008 financial crash, financial services have developed their compliance systems at pace. From tools that analyse trades and behavioural anomalies, to those that track and map changing financial regulation – manual, error-prone systems are fast becoming a thing of the past. CUBE’s Elliot Burgess reflects on the journey of automation so f...
27 November 2020 /regulation /people RegTech
Amanda Mickleburgh Director Product - Merchant Fraud at ACI Worldwide
One of the most prominent issues keeping stakeholders in the payments industry busy at the moment is Strong Customer Authentication, or SCA, the new European security standard that intends to protect consumers and businesses from fraud by making it more difficult for a fraudster to make payments from their accounts. After several delays SCA is due...
26 November 2020 /payments /regulation The future of Payments in Europe
Vladimir Ershov Head of Data Science & Machine Learning at Clausematch
How do we reimagine the regulatory framework? In an increasingly interconnected world financial services are rapidly blurring boundaries. They need to constantly keep track of changing regulatory obligations in different jurisdictions, fragmented and differing rules written in different languages and using different taxonomy. One specific area of ...
24 November 2020 /regulation /markets RegTech
Fraud and financial crimes perpetrated against insurers are on the rise. Although the banking industry remains the primary route for money laundering, stricter regulations and improved AML controls within that sector have driven criminals to other channels that may be more vulnerable to money laundering activities. Insurance providers, often less ...
24 November 2020 /regulation /crime Digital Insurance Trends
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