Implementation of regulatory changes in lending
The EBA guidelines on loan origination and monitoring are coming into force on 30 June 2021.
Regulation
The SEC confirms appointment of Gary Gensler as new chair
Gensler joins as the Democrats gain a majority among the commissioners of the US Securities and Exchange Commission.
Robinhood calls Massachusetts regulator “elitist” for trying to revoke its licence
“The complaint reflects the old way of thinking,” says Robinhood.
Cuba’s only telco ETECSA granted payment provider licence
The firm can now convert customers’ balances into electronic money.
Innovate Finance CEO Crosswell steps down
Head of industry body to be replaced by COO Janine Hirt.
France’s central bank warns fintech industry of rules when using term “neobank”
The industry has long called out the interchangeable use of the word “neobank”.
Ikano Bank picks TruNarrative to sit at regulatory centre of digital change
Swedish bank selects UK regtech firm to collate AML programmes.
US retail trade groups ask to join $5.54bn Visa and Mastercard lawsuit
The two bodies want permission to become parties in the lawsuit.
FTC shutters San Fran fintech Beam for not delivering on 7% interest rate
“Don’t lie about your customers’ ability to get their money when they need it.”
Triggers and obstacles to the development of the fintech sector in Poland
A deep dive on the benefits and challenges of the banking and payments landscape in Poland.
Taking charge and reducing charges
A major feature of Open Banking is relatively underused – Payment Initiation Services.
Fintech funding deals globally 22-28 March 2021
Featuring Dataminr, Blockchain, Feedzai, Jumio, and Pie Insurance.
FCA plans whistleblower support with new campaign
UK regulator to provide greater help to those willing to come forward.
Identity fintech Prove acquires research firm Medici Global
“This acquisition allows us to offer expert advisory coverage”.
Luminor Bank selects FIS Ambit Focus for risk management
Estonian bank aims to optimise its liquidity and manage risk.
Former HSBC exec Maguire joins UK regtech Napier
Maguire takes up a position as an advisory board member at the firm.
Jumio raises $150m in private equity investment
Firm lands “largest funding round” of the digital identity space.
Revolut applies for US banking licence days after Canada exit
Revolut’s US operations are led by banking veteran Ron Oliviera.
US Department of Justice sets antitrust sights on Visa
Visa’s hold on the debit market in the US under investigation.
London fintech Agitate latest to unveil open banking-powered payments solution
The solution skips the card ecosystem entirely.
Australia consults industry on more “sustainable” challenger bank licence
The APRA’s consultation closes at the end of April.
NatWest’s FCA laundering charge the “first of a few” to come in 2021
The FCA is currently still investigating 6 other cases.
Time to apply 2020 tax lessons
You should have a candid tax planning discussion with your advisors early
Nordea to deploy AxiomSL’s RegCloud for regulatory reporting
Scandinavian bank aims to meet Finrep, Corep, AnaCredit, and SHSG requirements.
NatWest faces FCA money laundering charge over £365m account
The bank will appear before Westminster Magistrates’ Court next month.
Regulating the Brexit deal
In spite of their clear importance, regulators have often met resistance.
Bank of England governor key architect in RBS scandal which left businesses in ruin
Bailey did not disclose his hand in creating the Asset Protection Agency.
Banking Technology March 2021 issue out now
Creating communities: celebrating women in fintech this Women’s History Month
Digital payments: why they are here to stay
It is not just individuals who are adapting to the shift.
MoneyGram and Ripple end partnership deal two years early
The two firms wind down their deal amid regulatory issues.
UK’s CMA launches consultation into OBIE successor
The CMA asks firms to send in suggestions before 29 March.
EBA shuts down email systems after damaging cyberattack
EBA affected by global infection of Microsoft Exchange servers.
Video: Top fintech stories this week – 05 March 2021
FinTech Futures’ weekly news round-up.
Budget 2021: The fintech industry reacts
We asked key market participants what they thought of the UK Chancellor’s budget.
Landesbank Saar signs BearingPoint RegTech for SFTR compliance
Franco-German bank to deploy Abacus/Transactions platform.
Budget 2021: What does it mean for UK fintech?
FinTech Futures scrolls through the UK chancellor’s new budget to pick out the fintech impact.
ABA Bank picks Alessa system to meet new AML regulations
Cambodian bank prepares to hit new regulatory targets.
UK Finance plans future revamp for Open Banking body
The OBIE is morphing into a new organisation to support innovation.
Regtech: watching personal mobile devices in financial services, but why?
The best policy is one which works. Soft policies, by their very nature, do not work as intended.
Robinhood pushes on with IPO plans despite facing 49 GameStop lawsuits
Robinhood has held talks with underwriters about filing “within weeks”.
