Paige McNamee - Community Author: Finextra Research

How digital banks’ legal departments weathered the Covid-19 storm

With digital platforms, smaller teams, and often cloud-based infrastructure, it seems that fresh-faced fintech banks weathered the Covid-19 storm better than their incumbent counterparts. More specifically, their legal departments did. According to a 2020 report by PwC, 62% of legal executives are very or moderately concerned about how major disru...

26 February 2021 /regulation

What does a Carney appointment mean for Stripe’s board?

Paige McNamee

What does a Carney appointment mean for Stripe’s board?

Mark Carney, current UN special envoy for climate action and head of impact investing for Brookfield Asset Management was recently announced as Stripe’s newest board member. He joins an esteemed group and will undoubtedly bring with him a fervour to push a green agenda. His profile will likely assist in Stripe’s global expansion projects, and their...

24 February 2021 /inclusion

Capital One: What its 390 million USD fine tells us about AML regulation

Paige McNamee

Capital One: What its 390 million USD fine tells us about AML regulation

The Financial Crimes Enforcement Network, or FinCEN, announced in January 2021 that Capital One would be required to pay a hefty $390 million penalty for AML violations under the Bank Secrecy Act (BSA). The bank admitted to wilfully failing to implement and maintain effective AML procedures to guard against money laundering, also failing to file t...

23 February 2021 /crime

The European Cloud User Coalition and the pursuit of cloud consistency

Paige McNamee

The European Cloud User Coalition and the pursuit of cloud consistency

The European Cloud User Coalition has been established. What does this mean for banks? Announced in late January 2021, the European Cloud User Coalition (ECUC) was established to promote consistency and enforcement of security standards for cloud use across the EU. A smattering of European players including Allied Irish Bank, BAWAG Group, Belfius...

12 February 2021 /cloud

Why small jurisdictions are forging ahead with crypto regulations

Paige McNamee

Why small jurisdictions are forging ahead with crypto regulations

The world has crypto on the brain. From this year’s early Bitcoin skyrocket, stablecoins approved for banking payments by the OCC, Christine Lagarde and Janet Yellen’s public wariness of the assets, to the FCA’s outright warnings, it seems the market can’t stop trying to make sense of digital currency’s place in today’s and tomorrow’s world. W...

05 February 2021 /crypto

Davos 2021: Key leader takeaways and what they mean for fintech and the environment

Paige McNamee

Davos 2021: Key leader takeaways and what they mean for fintech and the environment

Finextra attended a very different, digital Davos this year which centred on ‘The Great Reset’. Covering global insights into the impact that fintech has on wider issues such as responding to Covid-19, restoring economic growth, and advancing a new social contract, for its 50th year the event also focused on wider themes such as bolstering global ...

29 January 2021 /sustainable

Will Yellen’s Treasury 'invest' in the future of digital currency?

Paige McNamee

Will Yellen’s Treasury 'invest' in the future of digital currency?

Having officially been appointed Treasury Secretary, the digital currency world has its gaze fixed on Janet Yellen to determine precisely what her strategy around cryptocurrency, stablecoins, and digital banking will be. During her confirmation hearing on 22 January, Yellen raised concerns around the use of cryptocurrencies, stating “cryptocurrenci...

27 January 2021 /crypto

Paige McNamee

A new paradigm for capital markets

Yue Malan, senior analyst at Aite Group, recently wrote of the ‘new normal’ for capital markets: “The pandemic has impacted every aspect of the daily workflow for employees in capital markets firms. Today, a new wave of digital transformation will happen in capital markets firms.” From the perspective of Lisa O’ Connor, head of capital markets str...

25 January 2021 /payments

Are search engines the 'shop window' for online investment fraud?

Paige McNamee

Are search engines the 'shop window' for online investment fraud?

Online investment fraud has seen a rapid acceleration since the onset of the coronavirus pandemic, and much of society’s most vulnerable people are bearing the brunt. Despite industry players campaigning for the UK government to include online fraud within the scope of its response to the Online Harms White Paper, in December 2020 the government r...

19 January 2021 /crime

Plaid after Visa: Eyes on the open banking prize

Paige McNamee

Plaid after Visa: Eyes on the open banking prize

Keith Grose, head of Europe at Plaid, sat down to discuss the fallout from the great ‘would-have-been’ blockbuster acquisition of the fintech by Visa. When announced at the beginning of last year, Visa’s planned acquisition of Plaid for $5.3 billion was one of the largest in fintech during 2020. But when the Department of Justice filed a lawsuit on...

18 January 2021 /payments

Navigating core banking in Covid-19’s economic climate

Paige McNamee

Navigating core banking in Covid-19’s economic climate

At first glance, the premise of attempting to satisfy ever-more demanding consumer expectations seems an obvious pursuit. Yet, delivery of these products in the timeframe and friction-free format that customers crave isn’t always possible, due to the incongruence of ill-equipped core banking architecture and the advanced capabilities required to

23 December 2020 /predictions

Why digitising corporate onboarding should be at the top of banks’ agenda

Paige McNamee

Why digitising corporate onboarding should be at the top of banks’ agenda

First impressions matter. First impressions set the tone of a relationship, they inform how an initial interaction may blossom into a mutually beneficial affair, or (god forbid), how it may fizzle into a regretful obligation mired by conflict and frustration. The same logic rings true for financial institutions as they navigate the challenge of onb...

18 December 2020 /regulation

Long reads