UBS vies for Chinese digital bank licence
The rules are designed to ease foreign access to China’s financial market.
Regulation
European Commission plans to plug gaps in AML and CTF rules
The EC wants to “shut down” any “loopholes” and remove any “weak links” in current rules.
White paper: The digitalisation of sell-side risk management
What are the latest trends in risk management for sell-side institutions and what shapes them?
IBM, R3, Mastercard, and Accenture form Trust over IP Foundation
The group want to create a standard for a decentralised digital identity exchange.
Citi’s Proxymity lands $20.5m from HSBC, JP Morgan and Deutsche Bank
The funding round will see it become its own London-based entity.
Only the best wealth management CRM can meet today’s regulatory challenges
It is not possible to overplay the economic and reputational importance of compliance.
Webinar: Transform your customer experience with modern information management
Real-life examples of how FIs delivered value to customers, reduced technology costs & transformed their businesses.
Path Solutions and Thomson Reuters extends GCC systems partnership
iMAL core banking and Onesource tax solutions to be offered in tandem.
UK banks see surge of interest in Bounce Back Loans Scheme
In the first minute after 9am, Barclays had received 200 applications.
IHS Markit acquires Singapore-based Catena Technologies
Previously a fintech consultancy, Catena was overhauled in 2014.
NatWest extends 7-year Artesian contract
The vendor will continue to provide its customer insights and relationship systems.
FCA extends SCA deadline for merchants by six months
The new timeline is 14 September 2021.
Video: Top fintech stories this week – 01 May 2020
FinTech Futures’ weekly news round-up.
ABA unveils suite of core banking selection resources
US association continues campaign to diversify core banking market.
The old-school approach to risk management you need to dump right now
Data that is submitted manually for compliance in many cases can be erroneous.
KPMG’s Wirecard audit fails to verify payments processing profits
Six-month investigation into the German firm encounters stumbling blocks.
Revolut seeks help applying for UK banking licence & loses four more execs
Revolut’s goals remain the same, despite coronavirus.
EU payments bodies call for further SCA delay
An open letter sent to the EBA recommends a June 2021 deadline.
FSB consults on effective practices for cyber incident response and recovery
The FSB welcomes responses to the questions set out in the consultation by 20 July 2020.
Portuguese government gets one step closer to approving fintech sandbox
The sandbox is part of the government’s Action Plan for Digital Transition.
Monzo applies for US banking licence
Monzo applied to the US OCC for the licence on Monday.
Webinar: Getting reconciliation right in the ‘decade of data’
A blueprint for consolidating, automating and driving efficiency across reconciliation.
Israeli fintech BioCatch raises $145m in Series C
More than 40 financial institutions use BioCatch’s technology.
Explained: Protecting your ideas
Does your fintech need a patent? Does your invention need protection, or will you need something else?
Certified liveness detection a must for FCA recommended customer selfies
How to comply with the legislation and ensure that appropriate safeguards and additional checks are in place.
FSB publishes consultation on stablecoin regulatory challenges
Regulatory body publishes recommendations in response to G20.
Hong Kong challenger ZA Bank picks OneSumX for regulatory reporting
The first virtual bank in Hong Kong selects Wolters Kluwer system.
Identity verification platform Onfido bags $100m from TPG
The start-up wants to create an alternative “identity verification” layer for the internet
Avaloq extends Actico partnership to integrate compliance tech
Swiss technology vendor to embed compliance solution into its platforms.
COVID-19: Weekly wrap
FinTech Futures’ weekly coronavirus news wrap.
French markets regulator backs extension of short-selling ban
“I would probably be in favour of extending [the ban],” says chairman of the AMF.
HSBC reports money laundering breaches in Australia subsidiary
The breaches involved small amounts of cross-border foreign currency transactions.
Swedish central bank signs agreement to join TIPS from 2022
Swedish krona to be settled by EU-wide payments scheme in a few years’ time.
FCA plans financial relief for customers amid COVID-19 pandemic
UK regulator wants a freeze on loan and credit card debt.
The ABCs of eKYC
A how-to guide for online identity verification and eKYC.
Biometric authentication to continue gaining ground in next decade
It’s a known fact, but it’s worth repeating: your personal data is never safe.
Trustonic lands security deal with South Korea’s biggest bank
“KB Bank are taking a more open market approach,” says Trustonic.
Driving revenue through data privacy and compliance
Financial leaders can lay the foundation for turning data privacy into a revenue driver.
ECB calls for bank bonus moderation
The ECB will act against banks which don’t comply.
JP Morgan vs fintechs: Who really owns your data?
The bank gave fintech firms a choice: abide by data access rules or get out.
