Níamh Curran - Community Author: Finextra Research

What you need to know about APP reimbursement

Níamh Curran Senior Reporter at Finextra

What you need to know about APP reimbursement

Authorised Push Payment (APP) victim reimbursement scheme comes into effect today under rules from the Payment Systems Regulator (PSR). Payment service providers (PSPs) are now required to reimburse victims of APP fraud, up to £85,000, split evenly between the sending and receiving PSP. Reimbursement is likely great news for many consumers, howeve...

07 October 2024 /crime

AI validation and governance: How banks are securing their AI models

Níamh Curran Senior Reporter at Finextra

AI validation and governance: How banks are securing their AI models

Artificial intelligence (AI) and generative AI have become one of the largest topics in banking in the last two years. From OpenAI’s launch to the EU AI Act coming into effect, things are heating up. Banks are becoming more comfortable with the use cases AI is offering them, which means that ensuring AI models are being validated properly (doing wh...

25 September 2024 /ai

What is the Regulated Liability Network?

Níamh Curran Senior Reporter at Finextra

What is the Regulated Liability Network?

UK finance announced the successful ending of the experimental phase of the Regulated Liability Network (RLN) last week. Following this UK Finance held a launch event with speeches from some of the partners who worked on the RLN – such as HSBC, EY, Barclays, Nationwide, and Lloyds – as well as announcing their next steps. While the outcome of the e...

23 September 2024 /payments

How MiCA is already being embraced by financial services

Níamh Curran Senior Reporter at Finextra

How MiCA is already being embraced by financial services

Banking Circle has launched the first EU Markets in Crypto Assets (MiCA) compliant stablecoin, among the first cryptocurrency-related assets to be launched under the new regulation. MiCA doesn’t come into full effect until the end of this year, 30 December. Banking Circle has taken a plunge into the no-so-unknown in releasing this product – MiCA ha...

29 August 2024 /regulation

Deepfakes: The role banks play in fraud education

Níamh Curran Senior Reporter at Finextra

Deepfakes: The role banks play in fraud education

Last week, Santander released deepfake images of their head of fraud risk management Chris Ainsley and ‘finfluencer’ Mr Money Jar, Timi Merriman-Johnson, to raise awareness of scam potential of this technology. Deepfake scams are a growing threat for financial services, although they are not necessarily a threat which many banks are deeply conce...

13 August 2024 /crime

Fintech Sentiment: EU AI Act comes into effect

Níamh Curran Senior Reporter at Finextra

Fintech Sentiment: EU AI Act comes into effect

The EU AI Act officially became law yesterday, the world’s first AI legislation and marking the end of a process which began back in April of 2021. We have already produced a guide on how to prepare for the AI regulation, and background on what the Act was proposing. Now that the AI Act is in law, here’s a look at how some fintechs are responding...

02 August 2024 /ai

Níamh Curran Senior Reporter at Finextra

Consumer Duty one year on

Today is Consumer Duty’s birthday! It is one year since the implementation of rules for open products and services. The Financial Conduct Authority (FCA), whose jurisdiction the legislation comes under, have taken this one year anniversary Consumer Duty as an opportunity to announce they will be attempting to relieve some of the burden financial fi...

31 July 2024 /regulation

Níamh Curran Senior Reporter at Finextra

How to pick a 3-D Secure provider

Amid increasing ecommerce sales, changing consumer expectations, and regulatory shifts, payments issuers and processors need to continually evolve to decrease risks from card not present (CNP) transactions and customer authentication process. As the number of online payments grows, organisations are at increased risk of loss as a result of CNP frau...

10 July 2024 /security

UK election 2024: What each party’s manifesto outlines for fintech

Níamh Curran Senior Reporter at Finextra

UK election 2024: What each party’s manifesto outlines for fintech

The countdown to the UK General Election is nearly up, with polling taking place this Thursday 4th July. With this in mind we decided to take another look at how each of the major parties’ manifestos addressed some of the key issues in fintech. Innovation Conservatives and Lib Dems have pledged to increase public spending on R&D. Tories said t...

02 July 2024 /regulation

Will generative AI make banking jobs more efficient or replace them?

Níamh Curran Senior Reporter at Finextra

Will generative AI make banking jobs more efficient or replace them?

Generative AI is now becoming a reality within banking. McKinsey found more than 50% of banks in US and Europe are adopting “more centralised” generative AI in their organisation. The debate, or rather big neon pink elephant in the room, is whether generative AI advances will improve efficiency or replace jobs. This is emphasised by a recent stu...

27 June 2024 /ai

Why variable recurring payments is the next step in growing European open banking

Níamh Curran Senior Reporter at Finextra

Why variable recurring payments is the next step in growing European open banking

Open banking in Europe is maturing. PSD2 legislation has driven this development across Europe, with the Financial Data Access (FiDA) and PSD3 now on the horizon, this may be the year we start to see the full potential of open banking and even open finance. This is an excerpt from the Future of Digital Banking in Europe 2024 report. There promis...

06 June 2024 /payments

Digital Pension Dashboards and why we need them

Níamh Curran Senior Reporter at Finextra

Digital Pension Dashboards and why we need them

The National Audit Office (NAO), recently released a report attributing the delays in the Pensions Dashboard Programme (PDP) to lack of digital skills and incapacity. This is a serious drawback to the progress in digital pensions. However, it does answer some of the questions those reliant on the programme have been asking for the past year. It le...

29 May 2024 /regulation

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