China Merchants Bank opts for OneSumX regtech solution
China Merchants Bank chose Wolters Kluwer’s OneSumX for its regulatory reporting activity in Luxembourg.
Regulation
Regulatory reporting automation: mid-size banks face increased regulatory scrutiny
As regulations evolve globally, data has become both an essential currency and a pain point for financial institutions.
Banking Technology December 2017/January 2018 issue out now
In the eye of the storm we provide clarity.
Banking Technology Awards 2017: and the winners are….
The glamorous Banking Technology Awards 2017 took place on 13 December at the elegant Millennium Mayfair hotel in London.
PSD2: regulation as a catalyst for innovation
PSD2 comes into force on 13 January 2018. It aims to open up the European payments market to greater competition and transparency, but its effect will be more far-reaching, acting as a catalyst for innovation not just in payments, but in the wider financial services market.
GDPR vs PSD2: a challenging contradiction or two sides of the same coin?
Are GDPR and PSD2 really that dissimilar and incompatible? Or do they combine to create a robust security mind set?
UK regulator finally acts as compere for bank account compares
Nothing quite compares to go compare for bank accounts in the UK.
Rise of the machines will be monitored
The Financial Stability Board has stated in its first report on AI that the risks they pose need monitoring.
Blockchain and Bitcoin round-up: 11 December 2017
Featuring the Gibraltar Parliament; Cboe Global Markets; and Waves Platform, Ethereum and Deloitte teaming up.
Fintech companies will be a new kind of business in 2018
Fintech companies will find that they are a different kind of business in 2018 than they were in 2017.
Report: Global security spending will top $96bn in 2018
New regulations are forcing enterprises to spend more of their IT budgets on security.
Infographic: GDPR & B2B marketers – less aware but more prepared
According to the latest research by DMA, a UK trade association for the one-to-one marketing industry, those in the B2B space are trailing slightly when it comes to having a detailed awareness of what the new General Data Protection Regulation (GDPR) laws entail.
White paper: eIDAS and e-signature – a legal perspective
In this eIDAS paper, legal expert Lorna Brazell of Osborne Clarke LLP explains electronic signatures under the EU’s new Electronic ID and Trust Services Regulation.
Top fintech stories this week – 1 December 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Stress is less for banks after Bank of England test
It’s been a good year for banks as in a first since the launch in 2014, the (BoE) reveals that no bank needed to strengthen its capital position as a result of its latest stress test.
EC’s PSD2 regulatory technical standards set for 2019
With PSD2 on its way in January next year, the European Commission has confirmed the deadline for its regulatory technical standards (RTS) will be around September 2019. By way of recap, the security measures outlined in RTS stem from two key objectives of PSD2: “ensuring consumer protection and enhancing competition”. RTS introduces requirements that payment […]
Debunking six myths on regulatory sandboxes
We are living through a period of unprecedented innovation in finance, and regulators know they need to adapt to keep up with the fast pace of change. To understand and manage the risks posed by new products, services, and business models, many financial authorities are setting up regulatory sandboxes or reglabs.
Fintech alliance round-up: 23 November 2017
It’s that time again where alliances are formed and friendships are made in our latest co-operative filled round-up. Featuring the Monetary Authority of Singapore, Abu Dhabi Global Market, Dubai Financial Services Authority, Australian Securities and Investments Commission, and Iran and Malaysia planning to establish banking ties.
Al Salam Bank Seychelles selects iFinancial’s AMLtrac solution
Al Salam Bank Seychelles (ASBS) has chosen International Financial Systems’ (iFinancial) anti-money laundering (AML) solution, AMLtrac, as it plans to introduce domestic banking services for local and regional SMEs and corporates. As part of that planned expansion, ASBS, an offshore financial institution, has selected the know your customer (KYC) and document management, account monitoring, transaction […]
UK urged to improve data protection for the digitally naive
Several consumer groups have written to UK Minister for Digital Matt Hancock urging changes to data privacy and protection rules, removing grey areas which allow companies to navigate breaches unscathed, reports Telecoms.com (Banking Technology‘s sister publication). Many rules and regulations should be viewed as dated today. This is not necessarily anyone’s fault, but is more […]
HPE adding AI to data centres with Nimble acquisition
Earlier this year, Hewlett Packard Enterprise (HPE) went on an acquisition spree meant to help the company improve its standing in the data centre market with products to address a range of issues customers faced as they moved to the cloud, reports Enterprise Cloud News (Banking Technology’s sister publication). Now, one of those deals is […]
Blockchain and Bitcoin round-up: 21 November 2017
From major crimes to KYC times. Our latest blockchain and Bitcoin round-up features Tether, Metal, Deutsche Bank and IBM. Digital currency firm Tether is feeling under the weather as it has reported that “funds were improperly removed from the Tether treasury wallet through malicious action by an external attacker”. The amount is a rather large […]
Co-op Money NZ wins credit union legal fight
Co-op Money NZ, the industry body for credit unions and mutual building societies in New Zealand, has won its legal fight to continue providing wholesale banking. The organisation has successfully appealed against the decision of the Registrar of Friendly Societies and Credit Unions. By way of recap, earlier this year, a former Co-op member, Westforce […]
Singapore regulator calls for more feedback on payments law
The Monetary Authority of Singapore (MAS) has launched a second consultation on its proposed regulatory framework, known as the Payment Services Bill. According to MAS, the Bill will streamline the regulation of services under a single legislation, expand the scope of regulated activities to include virtual currency services and “calibrate regulation according to the risks […]
Interview: Javier Santamaría, EPC – SCT Inst, catalyst for a new world?
It may not provide all the ticks on everyone’s wish list, but the new SEPA Instant Credit Transfer Scheme (SCT Inst) could well be the start of something even more seismic for the European payments sector and also pave the way for a different, more immediate way of conducting business.
BNP Paribas in “global transformation” with Fenergo’s client lifecycle management tech
Fenergo says its flagship Client Lifecycle Management (CLM) solution has been selected by BNP Paribas “as part of its global transformation project”.
RiskMinds Live: streamed sessions from RiskMinds International
We’re live streaming from RiskMinds International 2017!
Payments round-up: 20 November 2017
It pays to pay attention to the pacey payments precinct. Our latest round-up comprises Glint’s golden launch, BillPro’s licence and QR codes in Singapore. Glint, an electronic payment system that enables gold to be used as a currency, has launched its account and app based technology in the UK. Jason Cozens, CEO, Glint, says: “Everyone […]
Fiorano launches PSD2 solution for banks
Fiorano Software, a specialist in integration middleware and API management, has launched Fiorano PSD2, a solution enabling banks to comply with the European Union’s PSD2 regulations.
White paper: demystifying PSD2
This free white paper discusses the implications of PSD2 from an end-user standpoint.
Faure to fintech – what music can teach us about communicating the benefits of tech
On the surface Handel or Shostakovich seem a world away from the world of finance. Yet, strange as it may seem, the similarities are there. This is because both the mechanics behind music and the technology underpinning the digital transformation are – unless you’ve had first-hand experience of either – pretty abstract concepts to understand.
Fintech funding round-up: 17 November 2017
Following on from yesterday’s (16 November) fintech funding fun, here’s another summary. Features Flender, Tipigo Ventures, India Accelerator, Kuants, Sumeru and a handy $2 billion in Singapore. Return to Flender. Address known. As reported in May, peer-to-peer lending start-up Flender was seeking to get €1 million in funding and is targeting a UK launch after […]
Actiance acquired by K1 Capital Management
Communications compliance and analytics company Actiance has made its exit this week. The California-based company has been acquired by K1 Investment Management, an investment firm focused on acquisition-based growth opportunities, reports Julie Muhn at Finovate (Banking Technology’s sister company). K1 will join Actiance with its rival, Smarsh, which specialises on archiving compliance. The combined company will reach […]
Blockchain and Bitcoin round-up: 16 November 2017
Coming straight after yesterday’s (15 November) action, here’s our latest blockchain and Bitcoin round-up. Features Mastercard in a patent place, ING Bank opening up, and another warning from the UK’s Financial Conduct Authority. Let’s start with yet another patent. Mastercard has jumped on the blockchain payments bandwagon by filing “Method and System for Instantaneous Payment […]
Slow growth, new regulation and digitisation – driving innovation in the banking sector
Since the global financial crisis the banking industry has witnessed three mega-trends: slow growth, digitisation and new regulation. None of these trends look likely to abate any time soon and in fact, it appears that all of them are set to intensify in the short to medium term.
Blockchain and Bitcoin round-up: 15 November 2017
Following on from yesterday’s (14 November) news, here’s our latest blockchain and Bitcoin round-up. Featuring Trustology, Accenture, Monetary Authority of Singapore, Association of Banks in Singapore, Square and London Block Exchange. Another day, another new firm. Trustology has emerged from stealth and revealed it is building a peer-to-peer network of smart contract compute services. Trusted […]
Fintech alliance round-up: 15 November 2017
Shoot it in the right direction, make making it your intention, live those fintech dreams, scheme those schemes, and hit me with those alliances and teams. Our friendly round-up features ASEAN Fintech Network, Monetary Authority of Singapore, Polish Financial Supervision Authority and Hong Kong Monetary Authority. Welcome to the ASEAN Fintech Network (AFN), a new […]
Hong Leong Finance in risk management tech revamp with Kamakura
Hong Leong Finance has signed for Kamakura Corporation’s risk management software, following “a comprehensive upgrade exercise involving its risk management processes”, according to the vendor.
Aegon opts for Wolters Kluwer’s OneSumX for operational risk
Pension, insurance and investment management firm Aegon is replacing its local risk systems with Wolters Kluwer’s OneSumX for operational risk management. Charles Garthwaite, global head of operational and conduct risk at Aegon, says his company needed “a global solution” that could “comprehensively manage Aegon’s requirements”. Following local implementations in the UK and within its asset […]
Reality Clash looks to make cash splash with cryptocurrency trading
While the fintech industry is no stranger to initial coin offerings (ICO) as a method of sourcing capital for start-ups, a firm is offering a novel way to make money via cryptocurrency trading.
