Poll reveals US falling behind in faster payments adoption
A lack of interoperability is cited as the main reason for slow progress.
Regulation
ISDA Technology Forum: Regulators struggling to match pace of innovation
Close alignment between policymakers and banks is needed.
ISDA Technology Forum: Small tech changes not enough for capital markets
Firms need to look beyond next year’s profits and losses, argues panel.
The case for a united financial marketplace
Can technology streamline the search for liquidity, the search for insight, and the search for capital?
PRA warns insurers over work culture
Staff must feel able to speak up about their concerns.
City National Bank of New Jersey shut down by OCC
Three US banks have been closed in two weeks by regulators.
Desjardins Group data breach affected all 4.2 million members
Internal leak forced change in government policy.
Central Bank of UAE plans new fintech office to power innovation
Governor Mubarak Rashid Al Mansouri says central bank has a “five pillar” approach.
UK Treasury makes paying back consumers victim to APP fraud ‘compulsory’ for banks
The phrase ‘gross negligence’ will also be defined.
Facebook target of financial services discrimination lawsuit
Facebook accused of allowing older and female users to be ignored by ads.
European regulators conform to EIOPA’s post-Brexit insurance recommendations
NCAs prepared to ensure a smooth transition for UK insurers after Brexit
German bank association fires shots at Libra, calls on politicians and central banks for digital euro
The association wants a crypto led by European commercial banks and politicians.
The dawn of T+3 minutes liquidity management
Help is at hand for intraday liquidity.
Monzo hires new CRO with blue chip banking career
Lisa Nowell leaves ClearBank after just six months.
Banking Technology November 2019 issue out now
The identity challenge.
EBA charges European Commission with cross-border services mission
A new report calls on the EC to help to smooth challenges facing cross-border business.
SME lender Lidya aims for top spot in Nigeria, next stop Eastern Europe
Lidya expanded to Central Eastern Europe (CEE) earlier this month.
Regulation and competition driving lending transformation
The key to success is a solution that provides effective data management.
UK Treasury Committee: Regulators must punish banks for IT failures
UK regulators “must have teeth and be seen to have teeth”.
Payment fraud in sights of UK cybersecurity force
The NCSC claims Operation Haulster is helping banks proactively prevent fraud.
OneSpan director: Banks need to implement AI’s full potential
Banks still have siloed data pools which can’t quite be pulled.
US regulators sign up to Global Financial Innovation Network
The CFTC, FDIC, OCC and SEC are all on board.
European Commission urged to clamp down on money laundering
A new document is ready to put new AML controls in place.
Temenos picked by Danish challenger Lunar to fight financial crime
Temenos says it was chosen to “address stringent regulatory demands”.
P2P lender Funding Score sinks into administration
Investors nervous as recovery firm takes control.
EBA’s migration deadline for SCA must be seen as a warning
Regulator has given plenty of time for merchants to whip themselves into shape.
US fintech community dealt blow by federal court as charter is denied
The OCC will be appealing the decision by the US courts.
Uncovering the hidden costs of liquidity
Liquidity is paramount and real time liquidity is now a must-have.
Investor rights lawyers investigate Wirecard securities fraud
Earlier this year, white-collar crime investigators raided Wirecard’s offices in Singapore.
FCA should overhaul EMIR supervision, says ESMA review
FCA ranks bottom among six major EU competent authorities for EMIR data supervision.
RegTech startup Apiax raises $6.6m in Series A round
Firm aims to digitise regulatory compliance into binary code.
Can compliance directors successfully reposition themselves as business leaders?
The role of banking compliance is in mid-evolution.
Bank of England finds two-thirds of industry using machine learning
Firms would like to see more guidance around ML regulations.
FCA will ‘take appropriate action’ against product greenwashing which misleads customers
The regulator will work on “common standards and product disclosures”.
EBA sets December 2020 migration deadline for SCA compliance
European watchdog gives payments industry just over a year to comply.
Industry apathy remains as SFTR deadline looms
Market participants suggest there is a worrying lack of preparedness for SFTR.
Libra’s woes continue as Booking Holdings departs
The association has now lost 25% of its membership.
Queen’s Speech reinforces UK’s aim to be world-leading regulator
The report found London has the world’s highest concentration of finserv firms.
US regulators remind FIs of AML obligations for digital assets
The CFTC, SEC and FinCEN point to AML/CFT requirements for digital assets.
China to ditch some foreign ownership limits next year as trade-war concession
Limits to be scrapped for securities, futures and fund management firms next year.
