FCA lifts partner onboarding restrictions on UK fintech Modulr
Modulr can now resume onboarding A&D partners but must inform the FCA when doing so.
Regulation
UK paytech RC365 acquires Money Lenders Licence to provide digital lending services in Hong Kong
RC365 purchased the licence from private investment and advisory firm HC Capital Group for HK 230,000.
Airwallex branches out into retail investment products with new Australian licence
The fintech is to leverage the AFSL licence, granted by ASIC, to expand Airwallex Yield.
HKMA unveils latest additions to stablecoin issuer sandbox
The new sandbox aims to facilitate the “sustainable and responsible” development of HK’s “stablecoin ecosystem”.
US Federal Reserve fines digital bank Green Dot $44 million over “unfair and deceptive practices”
Green Dot has been anticipating the arrival of the consent order since February.
CFPB proposes new rule to include payday advances under Truth in Lending Act
The fees associated with payday advances must be accompanied by the appropriate consumer disclosures.
FinTech Futures: Top five news stories of the week – 19 July 2024
Our pick of the top fintech news stories this week includes HSBC, Stripe, the FCA and more.
What’s next for UK fintech under the new Labour government?
After Labour’s election victory, FinTech Futures explores what the future might hold for UK fintech.
FCA announces “biggest changes” to the UK’s listing regime “in over three decades”
The new rules aim to “support a wider range of companies to issue their shares on a UK exchange”.
Covering the exposed: The effects of the FCA’s PEP review on financial compliance
The FCA is set to publish its review of the treatment of politically exposed persons (PEPs) this month.
US regulators fine Citigroup $136m for “insufficient progress” towards compliance with 2020 consent order
The OCC and the Federal Reserve Board have fined Citigroup $75 million and $60.6 million, respectively.
Banking Technology Magazine July / August 2024 issue out now
Cover story: MONEY TALKS – Cash still playing an important role in society.
Visa and Mastercard to extend inter-regional interchange fee caps in the EEA until 2029
The payments giants originally agreed to the caps to settle an EU antitrust investigation in 2019.
Banque de France partners HKMA to explore interoperability between wholesale CBDC infrastructures
The exploratory study will focus on “real-time cross-border and cross-currency payments”.
How DORA is fortifying Europe’s financial future with a new take on operational resilience
With the DORA deadline fast approaching, FinTech Futures examines its expected impact on financial services.
Paxos secures Singapore MPI licence and DBS Bank partnership for stablecoin issuance
Singapore becomes the third market worldwide where Paxos is licenced to issue stablecoins.
Silvergate to pay $63m in penalties to settle with US regulators
Silvergate announced it was winding down crypto-focused Silvergate Bank in March 2023.
US FDIC issues consent order to Thread Bank
The consent order, effective 21 May, mandates Thread Bank to enhance its oversight of its BaaS programme.
The rise of instant payments: protecting consumers from criminals in 10 seconds
How can financial institutions strike a balance between speed and safety with instant payments?
FinTech Futures: Top five news stories of the week – 28 June 2024
Our pick of the top fintech news stories this week includes Klarna, iBusiness Funding, Norm Ai, Nubank and more.
ECB publishes progress update on digital euro preparation phase
Privacy, offline functionality and possession caps are the key focus points of the progress report.
US regtech start-up Norm Ai raises $27m Series A funding
The investment brings the total raised by Norm Ai over the past 11 months to $38 million.
What the FinTech? | S.5 Episode 10 | Generative AI and cloud core modernisation
In this podcast episode, we chat with Zac Maufe, Head of Regulated Industries at Google Cloud.
FinTech Futures: Top five news stories of the week – 21 June 2024
Our pick of the top fintech news stories this week includes Sainsbury’s, Viva Wallet, Laybuy and more.
ICYMI fintech funding round-up: Ramify, Hawk, Cadana, Prosper and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Founders Video: evolution of industry compliance
Fintech founders discuss a decade of shifting perspectives and practices.
Reserve Bank of Australia set to conduct “holistic review” of retail payments regulation
The review will begin after the Australian government evaluates the Payment Systems Regulation Act 1998.
FINMA takes action against HSBC Private Bank Switzerland over “serious breach” in PEP due diligence
HSBC says it plans to appeal FINMA’s ruling.
Binance to pay $2.25m fine to India’s FIU over AML deficiencies
The exchange allegedly violated the country’s Prevention of Money Laundering Act (PMLA).
DORA and your uncle Joe
DORA has no appetite to understand why your selective facts are better than the whole truth.
FINMA pulls the plug on FlowBank as bankruptcy proceedings commence
The Swiss regulator has found the challenger bank to be in a “serious breach of supervisory law”.
UK’s FCA imposes restrictions on e-money firm AstroPay
AstroPay blocked by the regulator from accepting new customer funds and providing payment services.
Payzli in search of new CEO amid leadership restructuring
Arash Izadpanah will transition from CEO to chief risk officer.
The AI Summit: Real world AI
Use cases, pathways and challenges to implementation, and the evolving regulatory frameworks.
Moldindconbank taps Salt Edge for PSD2 compliance in Moldova
Moldindconbank is to leverage the vendor’s open banking compliance solution.
ICYMI fintech funding round-up: Fizz, Torpago, Sibill, WealthOS and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Robinhood to acquire Bitstamp in $200m deal
Robinhood set to leverage Bitstamp’s 50+ global licenses to fuel its planned expansion.
Money20/20 Europe explores blockchain, payments and personalisation on day two
Leading figures from financial services gathered in Amsterdam for day two of Money20/20 Europe on Wednesday.
Money20/20 Europe brings tokenisation, AI and digital transformation into focus
Day one’s proceedings took a specific focus on the topics of AI, tokenisation and digital modernisation journeys.
PSR names David Geale as new interim managing director after Chris Hemsley steps down
The PSR will commence the recruitment process for a new permanent MD after the UK general election.
