FCA levies £90m penalty against Lloyds Bank General Insurance for misleading comms
Insurer offered “competitive pricing” the FCA found to be false.
Regulation
AirAsia subsidiary BigPay bids for Malaysian banking licence
E-wallet firm aims to capture one of five offered by the Malaysian central bank.
FINRA orders Robinhood to pay $70m penalty for “false and misleading information”
The sanction is the largest financial penalty issued by the regulator.
BayernLB picks Broadridge to cover regulatory reporting needs
Broadridge to help German bank with SFTR, EMIR, SiFIR, and MMSR reporting.
Saudi Arabia grants first digital banking licences
STC Pay and ARTAR given green light by central bank.
Dear Luc: Can my start-up succeed while working from home?
This week our writer wonders if they really need a London address, or can working from home be just as good?
Open Banking Expo Canada meet-ups launch virtually this June
Free and open to banks, credit unions, fintechs, regulators, Big Techs, and other industry players.
Hanseatic Bank to streamline transaction authentication with Netcetera
German bank aims to unify payment confirmation to help users.
What the Fintech? | S.2 Episode 13 | The terror of technological debt
Vincent Kilcoyne, executive vice president at SmartStream, joins us on our What the Fintech? podcast.
Federal appeal overturns New York block on US Fintech Charter
The three-judge panel said NYDFS failed to show it had suffered “actual or imminent injury”.
Afterpay user files US class action lawsuit over “huge undisclosed fees”
The user says Afterpay doesn’t educate customers about the bank’s overdraft fees
Sri Lanka’s NDB Bank deploys video KYC with OneConnect and Axion
The bank aims to comply with new regulatory mandates.
FCA: “Significantly high” number of crypto firms not meeting AML standards
The UK watchdog has extended application deadlines for firms to seek regulation.
Trading floor: overcoming the dangers of personal mobile devices
There is now an immediate requirement for proper enforcement tools and the first line of defence.
FinovateFall Supplement: be part of one of the biggest fintech events of the year
The perfect platform for your organisation to deliver a strong message to engaged fintech professionals.
Innovate Finance hires Adam Jackson as new policy director
Industry body preps to push the sector’s regulatory interests.
Video: Infosys Finacle on adapting to business model innovation
We talk about how traditional banking models have become disrupted, and how consumer demands need new experiences
Catch up in the cloud – regulatory reaction to COVID-19
What are the regulators doing to keep track with the acceleration of digital in banking?
UK payments industry reacts to second SCA deadline extension
Many firms are still unhappy with “the disruption” SCA is presenting.
ComplyAdvantage extends funding round with Goldman Sachs investment
The funding is an extension of its Series C funding round from July 2020.
Video: pick of the week – UK regulators not happy with some fintechs and AmEx
A top pick of stories from the world of finance and tech in bitesize video format, twice a week.
Video: Top fintech stories this week – 20 May 2021
The FinTech Futures weekly round-up of the industry’s top stories and happenings from across the globe.
UK regulator fines AmEx over sending four million unsolicited emails
Subscribers “had not provided adequate consent” for a portion of the 50 million messages Amex sent in 2019.
FCA demands UK fintechs clarify non-bank status to customers
Companies have six weeks to write to their customers.
Why EU regulators are pushing for more explainable AI
The EU regulators are seeking to mitigate undesirable outcomes and risks arising from AI-generated decisions.
EML Payments halts trading over Central Bank of Ireland probe
Australian payments firm suspends shares over “significant regulatory concerns”.
Scottish Equity Partners invests in compliance firm FundApps
FundApps says it can “transform” investment management.
UK government should confirm that NFTs are “works of art”
The UK’s legal and regulatory framework has lagged behind in the rapidly moving NFT area.
N26 issued order by German regulator to improve AML measures
To oversee these changes, Bafin has appointed a “special commissioner”.
Facebook shifts crypto project Diem from Switzerland to the US
Diem says the partnership “is an important step in preparation for a Diem USD pilot”.
What the Fintech? | S.2 Episode 10 | Too cool for school
Riten Gohil, partner and co-founder at Sphonic, joins us on this latest episode of the What the Fintech? podcast.
Video: pick of the week – European regulator in tech selection; new challenger bank in the US
A top pick of stories from the world of finance and tech in bitesize video format, twice a week.
Banking Tech Awards 2021 now open for entries!
The awards are open to banks, financial institutions, technology and service providers, teams and individuals.
Commerzbank finalises 10,000 job cuts after agreement with employees
German lender moves forward with widescale restructure plan.
Video: Top fintech stories this week – 7 May 2021
The FinTech Futures weekly round-up of the industry’s top stories and happenings from across the globe.
European Payments Council starts Malware Information Sharing Platform search
The EPC has launched an RFP for a Malware Information Sharing Platform.
Lanistar secures FCA approval less than six months after regulatory warning
Lanistar also filed its unaudited accounts last month.
Singapore pledges $32m to help regtechs take POCs to market
Welcome to “the Valley of the Valuable POCs”, says MAS chief fintech officer
French watchdog says banks risk “marginalisation” by Big Tech payment apps
The paper focuses on Big Tech-associated threats to competition.
Blockchain compliance firm Securrency raises $30m in Series B round
The new injection will help Securrency’s expansion in the UAE and the US.
