Why remote onboarding is going to make or break banks
A number of onboarding steps can be automated, streamlined and simplified to deliver a better customer experience.
Regulation
Banking Technology July/August 2020 issue out now
Unlocking the benefits of open banking.
Ardent Financial picks SteelEye for MiFID II and MAR compliance
Newly-launched securities firm aims for automation.
How financial institutions can capitalise on open banking benefits
The median open banking spending lies between €50-€100 million according to Tink.
Deutsche Bank faces $150m fine for Jeffrey Epstein ties
“The bank’s failure to recognise this risk constitutes a major compliance failure.”
Belgian cooperative NewB picks Wolters Kluwer’s OneSumX
The new Belgian bank wants OneSumX to manage its ALM ops.
Commerzbank plans 10,000 job cuts as CEO and chairman step down
Shareholder pressure saw Martin Zielke and Stefan Schmittmann depart earlier this week.
LIBOR transition: everything you need to know
How NIIT Technologies is supporting businesses grappling with LIBOR transition.
Commerzbank fined €650k by Cypriot regulator
German bank sanctioned in relation to dealings with now-defunct Laika
Introducing CRUX Digital Days – getting the crux of the tech matter
What’s shaping the financial services technology industry of today and what awaits it tomorrow?
Union Investment Group picks BearingPoint for tax reporting
BearingPoint also expects to win East-West United Bank in Luxembourg.
The Philippines launches government-owned OFBank for overseas citizens
Filipinos will be able to sign up to the new service with a selfie.
TransferWise lands licence from FCA to offer investment products
The move marks its second side-step from cross-border payments.
FCA lifts restrictions on Wirecard Card Solutions
UK watchdog allows payments to restart.
IDnow hopes to bring video authentication to UK banks’ onboarding
Customers include Commerzbank, solarisBank, N26, and UniCredit.
SEB fined $107m by regulator for Baltic AML failures
The Swedish bank failed to identify risk among its subsidiaries.
US regulators relax Volcker Rule restrictions
Major US banks allowed to unlock wider range of investment options.
Report: Five success factors for an ideal ISO 20022 migration
ISO 20022 represents an opportunity for banks to reinvent the way they operate.
Adverse media screening: a key pillar of financial crimes compliance
Can we leverage AI to enhance the effectiveness and efficiency of adverse media screening?
Video: Top fintech stories this week – 26 June 2020
FinTech Futures’ weekly news round-up.
FCA suspends Wirecard’s UK subsidiary
This has prompted a handful of fintechs to issue warnings to their customers on Friday.
Wirecard files for insolvency amid accounting scandal
The paytech owes creditors almost $4 billion after disclosing a gaping hole in its books.
New York regulator plans to ease cryptocurrency rules
DFS announces batch of changes amid MOU with New York university.
Five ways to streamline your online checkout process
The commercial case for streamlining the online payments process is clear.
WhatsApp Pay suspended by Brazilian central bank
WhatsApp’s service has been live in Brazil for just over a week.
Memo Bank launches business offering and lands €20m
The funding round was led by Paris-based BlackFin Capital Partners.
Zopa lands UK bank licence, set to launch credit card and saving account
The company announced its plans to become a bank nearly four years ago.
Wirecard’s former CEO Markus Braun arrested
Munich police say a criminal investigation into Wirecard has been launched.
FCA prepares shift to new data collection platform RegData
This is in response to industry feedback about the Gabriel system over the past three years.
LSE-Refinitiv merger under competition spotlight from EC investigators
The European watchdog has concerns about the $27bn merger.
Data privacy versus data security: why is it so hard to have both?
Blockchain and other DLT secure data by making it immutable.
Liquidity risk COVID-19: big vs small data
Banks must be prepared to perform deep due diligence on their credit lines and loan books.
Intesa Sanpaolo pushes for UBI Banca acquisition
The verdict next month will reveal if the acquisition can go ahead.
FCA appoints LSE chief Nkihil Rathi as new CEO
Chancellor Rishi Sunak called Rathi “the outstanding candidate”.
Postbank replaces 12m cards after employees steal master key
The employees stole the bank’s master key back in December 2018.
Europe battles on with digital tax plans despite US walk out
Almost 140 countries are part of the talks to bring in a digital tax.
CFTC fines Deutsche Bank $10m for swaps failure & trade spoofing
Banking giant caught out by US regulator.
FCA permanently bans marketing of mini bonds
The FCA will extend it to other speculative investments that are hard to trade.
Commerzbank fined £37.8m by FCA for AML failings
The London branch of the bank dragged up for issues between 2012 and 2017.
Partnering is a solution to the regulatory “new normal”
FinTech Futures speaks to James Buckley, vice-president and Europe director for Infosys Finacle.
