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In the finance world, everything’s gone digital. If you’re still trying to verify customers’ identity by asking where they lived ten years ago, or making them jump through manual hoops like sending small “test” transactions to verify a linked account, you’re falling behind. How you verify identifications and authenticate customers has a big impact...
27 April 2021 /regulation /identity Banking Strategy, Digital and Transformation
Depite the long road to recovery from the Covid-19 pandemic pockets of hope emerge. Many organisations across the world, including banks were surprised at how fast they were able to adapt and move to remote working. It took an average of just 10.5 days to migrate assets to the cloud. This was around 24 times faster than anticipated according to Mc...
26 April 2021 Banking Strategy, Digital and Transformation
A €3 million fine is the latest in a number of anti-money laundering fines for ING, but what can they and the rest of the sector learn? At the beginning of March, ING was fined €3 Million for failures in anti-money laundering regulation. It’s the latest major AML case involving European regulators and confirms this will continue to be one of th
26 April 2021 /regulation
Regardless of your beliefs on the extent of climate change and global warming, we can safely assume all of us want a healthier and cleaner planet to live in. For some reading this, it can be difficult to find the link between fintech (financial technology) and the environment. But the actual relatability of the two may surprise you, even at the ma
22 April 2021 /sustainable /predictions Climate Fintech
The ship has sailed. Remote working will remain, post-Covid, even in wealth and asset management. The debate now centres around the balance between remote and office working, and the long term effects of each. Schroders was the first London asset manager to take a stance, announcing its decision in August 2020 to offer long-term homeworking. There...
21 April 2021 /people /wealth Capital Markets Technology
Non-Fungible Tokens (NFTs) are becoming more and more prominent in the crypto market recently. They began as a very niche phenomenon revolving around crypto artists yet now are on the verge of transforming into an ecosystem with billions of dollars floating around. Before going too far into the matter of why they are attracting so much interest, ...
19 April 2021
Remote working has changed our working model and while most people will welcome it, firms must ensure they have identified all regulatory risks. Lockdown has changed the world of work as we know it. Almost overnight firms were forced to shift to a remote working pattern. Although it has generally gone ahead smoothly, research suggests many firms ar...
16 April 2021 /regulation
Know-Your-Customer (KYC) measures are among the topics which the crypto community treats with a lot of controversy. Many users don't want regulations breathing down their necks - to them sharing personal data goes contrary to the basic premise of cryptocurrencies. Opinions on the usefulness of KYC differ because these measures actually do help in p...
14 April 2021
Recently, I published an article on Banking-as-a-Service (BaaS) and why it made sense for banks to build out capabilities for their banking services to be adopted by brands (both financial and non-financial). I argued that the potential for banks is huge as it is expected to become a US$3.6 trillion industry by 2030 according to Bain Capital Vent
14 April 2021 /cloud /predictions Embedded Finance
Financial institutions are some of the most heavily targeted organizations by cyber criminals, and it’s easy to see why; financial institutions have the most to lose. Reputation is king in financial institutions since they can only function with an underlying consumer trust in the safe handling of their monetary assets, and data breaches typically...
12 April 2021 /security /predictions Information Security
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