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How to prepare for the EU AI Act
Hamish Monk

Hamish Monk Senior Reporter at Finextra

How to prepare for the EU AI Act

The European Union’s AI Act has formally been signed by the presidents of its parliament and Council. Imminently, the regulation will be published in the EU’s Official Journal – 20 days after which, the law will be put into force. For financial institutions, there will be just two years’ implementation period. So, how should banks prepare for the...

/ai

How can financial institutions hit G20 targets for cross border payments?
Hamish Monk

Hamish Monk Senior Reporter at Finextra

How can financial institutions hit G20 targets for cross border payments?

Finextra’s latest webinar, ‘Cross Border Payments: Hitting G20 targets for speed, cost, and transparency’ – hosted in association with Bottomline – explored why embracing new protocols, technologies, and data structures around cross-border payments is a non-negotiable for all financial institutions in 2024. Moderated by Finextra’s head of research...

/payments

AI and Quantum pack a dual punch for financial institutions
Scott Hamilton

Scott Hamilton Contributing Editor at Finextra Research

AI and Quantum pack a dual punch for financial institutions

Attorney and Certified Information Systems Security Professional (CISSP) Megan Moloney delivered the keynote address to the Northwest Association for Financial Professionals (NWAFP) annual Summit. The event brought together treasury practitioners, financial services and fintech providers, and community leaders to Bellevue, Washington, USA for a fu...

/ai

Majority of UK believes flexible working boosts productivity
Kirstie McDermott

Kirstie McDermott Senior Content Editor at Amply

Majority of UK believes flexible working boosts productivity

Flexible working has taken a bit of a hit recently across the financial and tech sectors, as company after company rolls back on pandemic era remote-working policies. Dell’s CEO Michael Dell raved about remote in 2022, saying that it was “the future of work”. He had a change of heart recently, announcing that the company will pass over remote emplo...

/people

How to prepare for DORA
Hamish Monk

Hamish Monk Senior Reporter at Finextra

How to prepare for DORA

As the result of a partiality for fierce innovation, the financial sector is increasingly dependent on technology to deliver its offering. The sector has therefore become highly vulnerable to cyber-attacks and other digital ‘slip-ups’. If not handled correctly, a compromised IT system could spark a knock-on disruption to financial services, the co...

/regulation

Reverse solicitation: Is this the end to license-free provision of financial services?
Renate Prinz

Renate Prinz Partner at McDermott Will & Emery LLP

Reverse solicitation: Is this the end to license-free provision of financial services?

The reverse solicitation rule has become increasingly important in the cross-border financial services sector since Brexit. In short, it enables the cross-border provision of financial services or the granting of loans without the necessary authorisation in the recipient country if the service is requested at the customer’s exclusive initiative. F...

/regulation

How to leverage quantum computing
Hamish Monk

Hamish Monk Senior Reporter at Finextra

How to leverage quantum computing

Earlier this year, researchers devised a breakthrough method for creating supremely pure silicon – the fundamental material in quantum computers. Imperfections in existing silicone mean that today’s quantum computers can maintain coherence (or more simply, operation) for only a fraction of a second. This newly-created, ultra-pure element sustains ...

/devops

Greenhushing: How will it impact sustainability efforts in financial services?
Sehrish Alikhan

Sehrish Alikhan Reporter at Finextra

Greenhushing: How will it impact sustainability efforts in financial services?

We have all heard of greenwashing – when companies lie or exaggerate their sustainable efforts to gain ESG brownie points and falsely reassure customers of their dedication to the environment, there is a new term that companies are getting the hots for called greenhushing. This terrible name for an even worse activity is when companies simply will...

/sustainable

Ukraine’s crypto adoption: Why alternative finance is increasingly vital
Hamish Monk

Hamish Monk Senior Reporter at Finextra

Ukraine’s crypto adoption: Why alternative finance is increasingly vital

For those well-read on the economic and financial pressures induced by conflict, it will come as no surprise that Ukraine ranks highly in CryptoCasino’s recent survey of cryptocurrency adoption globally. Researchers analysed each country against four key metrics: percentage of the population holding cryptocurrency, the cost and profit of mining o...

/crypto

How to recover from a data breach
Hamish Monk

Hamish Monk Senior Reporter at Finextra

How to recover from a data breach

On 7th May, several China-sponsored cyber-attacks on the Ministry of Defence (MoD) compromised data from its outsourced payroll system, SSCL (a subsidiary of Paris-based Sopra Steria) – exposing the names and banking information of 270,000 past and present military personnel from the Royal Navy, Army, Royal Air Force. In the wake of this news, Fin...

/security

Open banking next step: A request for public input on how to structure the 'Future Entity'
Chris Holmes

Chris Holmes Peer at House of Lords

Open banking next step: A request for public input on how to structure the 'Future Entity'

The Joint Regulatory Oversight Committee (JROC) consists of the Financial Conduct Authority (FCA), Payments Systems Regulator (PSR), HM Treasury (HMT) and the Competition and Markets Authority (CMA), and is tasked with realising the full potential of open banking. To this end, they have published recommendations for the next phase of open banking...

/regulation

The ICO’s new regulations on biometric technology in the workplace
Chris Cook

Chris Cook Partner at SA Law LLP

The ICO’s new regulations on biometric technology in the workplace

When someone mentions biometric technology, many of us still visualise the futuristic utopias popularised in movies such as Minority Report, or Blade Runner. Yet biometric technology is very much commonplace in today’s world – particularly from a consumer perspective. We are using facial recognition systems to gain access to our smartphones, voice ...

/regulation

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