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This isn’t a question of profit or people, but rather people in order to profit.
Compliance
BoE’s Carney says finance is too slow on tackling climate change issues
Carney is due to become the United Nations’ special envoy for climate change.
ISO 20022: stepping in the right direction
Market participants should assess the impending transformation and work on action plans.
Australia delay open banking regulation by six months over cybersecurity concerns
Banks are “extremely concerned about cybersecurity”, says ACCC.
Signing up to the future
A legal evangelist explains why she expects the future of contracts to be autonomous.
Supplement: the 2019 fintech review
Ruby Hinchliffe dissects her top five 2019 fintech trends from this year’s top stories!
PayPal sues US regulator over its “misleading” digital wallet rules
PayPal wants the Consumer Financial Protection Bureau (CFPB) to change its rules.
Finovate: fraud prevention, cybersecurity and regtech
The eMagazine features unique insights from the FinovateAsia and Middle East shows.
Bank of Lithuania opens up reporting API tests to three local fintechs
ConnectPay, Interpaylink and Paysolut will all be part of the regtech sandbox.
Banking Technology December 2019 / January 2020 issue out now
A year in review.
Trulioo opens GlobalGateway to Nigeria and Ghana
Nigeria & Ghana have taken significant steps toward increasing access to digitisation.
Unpacking Europe’s 2019’s major tech milestones with NIIT
FinTech Futures breaks down this year’s trends with Gautam Samanta at NIIT.
CMFG Ventures hands BankBI Series A investment to tap US market
BankBi will use CMFG Ventures’ US credit union connections.
Westpac hires familiar tech partner IBM to probe its AML bust up
Westpac has been using IBM’s infrastructure since the 1990s.
Where has trust gone – can banks even recover their standing in the community?
Traditional banks might find themselves facing a future where the front doors are locked for them!
US fintech Robinhood pulls OCC banking application
The start-up is calling the withdrawal “voluntary”.
Goldman Sachs fined $1m for not recording traders’ calls in 2014
The bank failed to record calls for three weeks.
Customer involvement in fraud mitigation
Pressure for speed has impacted the time available to ensure accuracy.
Citigroup fined record £43.9m for ‘widespread’ regulatory reporting failures
Citigroup fell “fell significantly below the standards expected”.
MLRO’s in the regulatory “cross-hairs”
The role of AML compliance officer/MLRO has never been more challenging.
How blockchain transforms banking and financial services
Who’s adopting this tech and what’s in store for it down the line?
Crypto compliance start-up TRM Labs raises $4.2m with help of PayPal
Backers include Reddit’s founder and PayPal Ventures.
China’s Ant Financial is actively looking for Singapore banking licence
The Monetary Authority of Singapore (MAS) has five licences on offer.
US government plans strict enforcement of AML ‘travel rule’ for crypto firms
The rule requires crypto firms to share information about their customers.
Ex-Virgin Money execs’ venture Snoop gets FCA approval
It can now receive financial data from banks as a registered third party.
English law makes crypto assets property and smart contracts binding
Barristers from Twenty Essex, 3 Verulam Buildings and 4 Pump Court signed.
Why has Lithuania become a key destination for licensing in Europe?
As part of its newly devised strategy, Lithuania put several tools in place.
Regional KYC utilities: Genesis of global collaboration on shared compliance platforms
Several countries are now adopting this model of a unified platform.
CSConnect 2019: Lloyds head says tech firms don’t get enough heat for banking app glitches
Lloyds head: “We’re either in this together or we’re not”.
How is AI augmenting compliance practices?
SAS are seeing early AI entries in the Regtech space.
FCA exposed for ‘shameful’ behaviour at its London HQ
Behaviors include defecating on the toilet floors and verbally abusing outsourced staff.
AFME calls for supervisory convergence on the regulation of crypto-assets
Europe’s AFME lists five recommendations.
Investment firm Castle Trust to become UK challenger bank
The firm calls it the “natural next step”.
Hungary’s National Bank fintech strategy combats digitisation lag
The national bank has drawn up its own fintech guidelines “to speed things up”.
Apple Card issuer investigated after claims of sexist credit checks
Goldman Sachs faces official inquiry in NY over alleged Apple Card sexism.
ING invests in regtech Ascent
The Dutch bank backs AI-driven regulatory compliance solutions.
Interac acquires Ottawa-based digital security company 2Keys
2Keys will operate as “2Keys – a subsidiary of Interac Corp”.
Immersive Labs lands $40m investment round, opens Boston office
The start-up sees clear demand for cybersecurity support in North America.
Bitcoin ATMs in Nevada now need a money transmitter licence and bond
Find out the basics about virtual currencies regulation in Nevada.
PRA warns insurers over work culture
Staff must feel able to speak up about their concerns.
