UK’s PRA fines HSBC £57m for “historic depositor protection failings”
The PRA says the fine is the second-largest issued by the regulator to date.
Standards
EBA addresses ESG and climate change risks with new proposed guidelines
The EBA says it is accepting comments on the proposals via its consultation website until 18 April 2024.
UK’s PSR proposes cross-border interchange fee cap
The PSR is proposing a cap of 0.2% for debit transactions and 0.3% for credit transactions made online.
E-invoicing in Europe 2024: a country by country policy overview
Delving into the mandates, legal changes and harmonisation efforts in B2B and B2G e-invoicing in Europe.
And sometimes… less is just less
Doing more with less often reaches a point where it is no longer possible.
How Europe’s PSPs are bracing for SEPA instant payments
The European Parliament approved final implementation deadlines for SEPA instant payments on 7 November.
UK financial services firms cautious but keen to adopt GenAI, new survey says
The study surveyed 23 members of UK Finance, including banks and non-banking financial services firms.
A glance ahead: the European payments landscape in 2024
2024 is set to be a year of innovation and change for the European payments landscape.
Klarna prepares for SEPA instant payments with Form3 partnership
The agreement will directly connect Klarna to STEP2 and the gross settlement payment system RT1.
Jordan Ahli Bank taps Fintech Galaxy to comply with open banking standards
The bank’s customers will now be able to share their financial and banking data with third-party apps.
Report: State of verification and monitoring in the crypto industry
Data-driven study into verification practices among crypto businesses: checks, budgets, pass rates.
European regulators agree on new rules for SEPA instant payments
The rules state that instant transfers must not cost more than standard services.
Improving safety in AI
Having regulators test AI before release will ensure a much better understanding of its capabilities.
UK Finance calls on government to form new quantum computing taskforce
The taskforce would seek to explore the “multibillion-pound opportunities” of a quantum-enabled economy.
HM Treasury sets out phased regulatory approach for stablecoins
Legislation covering “activities relating to fiat-backed stablecoins” will arrive early next year.
Regulators of UK, Singapore, Switzerland and Japan launch collaborative effort to explore digital asset use cases
Project Guardian aims to share knowledge about the benefits and risks of asset and fund tokenisation.
How the UK’s FCA is set to scrutinise banks’ treatment of PEPs with new review
Dr Henry Balani of Encompass Corporation discusses the impact of the review on the UK banking system.
What the FinTech? | S.4 Episode 17 | Open banking innovation
In this episode of the podcast, we’re joined by Arthur Ribakovs, Director of Financial Partnerships at Ecommpay.
Can banks connect the dots in their pursuit of sustainability?
As ESG transitions towards a matter of law and compliance, a lack of focus could have very serious consequences.
Australian government proposes new regulations for digital wallet providers
The proposals will be introduced to the Australian parliament this year.
FCA’s new crypto marketing regime comes into force, regulator issues 146 alerts in first 24 hours
The regulator’s new rules for the promotion of cryptoassets went live on 8 October.
Video: Standard Chartered at Sibos 2023 – ISO 20022 and the push for global adoption
We chat with David Rego of Standard Chartered about the switch to ISO 20022 and the progress being made globally.
Video: NatWest at Sibos 2023 – Building standards into green finance
We chat with Caroline Haas of NatWest about the key actions banks can take when it comes to achieving net-zero.
Central Bank of Ireland proposes minimum knowledge requirements for credit union workers
The reforms will take effect from 1 October 2024 and will incur a four year transition period.
Fairer Finance appoints Tim Hogg as director to strengthen Consumer Duty expertise
Hogg describes Consumer Duty compliance as “a comprehensive, multifaceted obligation that demands a nuanced approach”.
Sibos dreams of a T+1 settlement utopia on eventful day three
Panels at this year’s Sibos have discussed the benefits of T+1 settlements across all global capital markets.
Sibos 2023: Empathy and AI – banking’s duty of care
Ultimately, the responsibility lies with humans to decide where, when, and how AI is deployed.
Sibos highlights ISO 20022 as key enabler of financial innovation
Experts at Sibos evaluated how enriched data is enabling innovation in AI and the rise of predictive analytics.
Romania’s Libra Internet Bank taps Temenos to modernise payments
With Temenos Payments, the bank aims to facilitate ISO 20022 cross-border payments and reporting on the Swift network.
Sibos 2023: You can’t manage what you can’t measure – the role operational data will play in the successful transition to T+1
Automated solutions enabling the timeliness of middle office processes can be key to the T+1 readiness.
Sibos 2023: How data enables the paradigm shift to accelerated settlements
SmartStream’s Vincent Kilcoyne explains why the success of accelerated settlements hinges on quality data.
How the UK is making the fight against financial crime more connected than ever
The Economic Crime and Corporate Transparency Bill could revolutionise how the UK fights financial crime.
What the FinTech? | S.4 Episode 14 | Financial vulnerability and the Consumer Duty
In this episode of the podcast, we’re joined by Helene Panzarino of the London Institute of Banking and Finance.
Cartoon: Are we ready?
AI/ML is advancing at pace, but we might not have all the unintended consequences worked out yet.
State of play: 2023 so far
What’s the current state of play for the financial services sector and what can we expect for the remainder of 2023?
Principles, practices and persistence: the Consumer Duty deadline arrives
The regulation is set to completely transform the relationship between financial services firms and consumers.
Fintechs call on UK government to put an end to hidden fees in cross-border payments
15 fintechs including Wise, Monzo, Revolut and Klarna have penned an open letter to UK chancellor Jeremy Hunt.
Go green software – your bonus may depend on it!
Embracing green software principles can unlock numerous benefits for financial services firms.
FinTech Futures: Top five stories of the week – 7 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
An open approach to open banking
To grow open banking worldwide, governments and industries must have an open, collaborative attitude.
