Elizabeth Denham, the UK’s information commissioner, made an astute point when she recently called for senior bank executives to get the same cybersecurity training as front-line staff, following the global WannaCry ransomware attack. But implementing the kind of comprehensive cyber defence strategy which includes such training will require a monumental culture shift at the top.
Is fintech to banking what craft ale is to brewing? If so, what can banks learn from the rise and rise of craft ale? Aden Davies, principal consultant at ABZD, looks at ten trends seen in the craft ale industry that have interesting parallels with the rise of fintech.
Quickly following on from the round-up on 16 August, here’s more blockchain and Bitcoin action. Features the Australian government, Blockchain (as in the firm), ShapeShift, Bitstamp and Payza. The Australian government has launched a crackdown on money laundering and terrorism financing – including the digital currency exchange sector being regulated for the first time. The […]
Market players are bullish on the near- and longer-term promise of fintech, according to new research by Opimas, “Fintech Spending and Innovation in Capital Markets”. In 2017, it estimates fintech spending across all capital markets participants to exceed $127 billion.
The second edition of Regtech Supplier Performance Report, featuring some 50 regtech suppliers, published by Market Fintech Limited and supported by Banking Technology, says that with over 50,000 regulatory documents published across the G20 since 2009, and an average of 45 new documents every week, we must assume that the future of banking will be driven by technological developments.
Abu Dhabi Global Market and KPMG are launching the first Fintech Abu Dhabi Innovation Challenge—a five-week program for “innovative and mature startups across the globe,” with a chance to win $15,000 in prize money.
Join the world’s largest banks and cut compliance reporting budgets up to 60%. In this brief, Trifacta takes a closer look at how financial services companies are leveraging data wrangling to accelerate their regulatory reporting.
With less than one month left to nominate for the Banking Technology Awards, now is the time to polish up on your entry. The question we get asked often is how to write a winning entry. Well wonder no more, we have a few tips for you on what to include. The more detail the better! Dates […]
This year’s Banking Technology Awards will be taking place on 13 December in London and once again we will be celebrating people that make things happen! The Leadership Awards will recognise individuals and teams that made a considerable contribution to our industry. What are the categories you can nominate in? Woman in Technology (W.I.T.) Award, in partnership with FemTechGlobal, will […]
It’s no secret that increased regulations are a significant pain point for commercial and community banks. According to Thomson Reuters Global Cost of Compliance 2016 Survey, more than one-third of participating financial institutions reported spending at least an entire day each week keeping track of regulatory changes. The good news? Regtech, or regulatory technology, is […]
For any organization regularly processing card-not-present (CNP) payments, boarding the fintech bandwagon is a must. There are three key fintech developments—APIs, regtech and cybersecurity strategies—you need to embrace (or face disruption).
This open letter from German fintech figo is not about the usual pros and cons of this debate, but intends to provide the European Council with actual solutions, i.e. smart trade-off ideas that could mean an end to the everlasting screen scraping debate and eventually the RTS process.
Nasdaq will acquire Sybenetix, a surveillance provider that uses behavioural analytics and cognitive computing. The addition of Sybenetix to Nasdaq’s risk and surveillance suite of solutions, including Smarts and TradeGuard, will allow Nasdaq to “bring deeper technology savviness and expertise to buy-side compliance officers across the global capital markets who require future-focused surveillance capabilities to […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
In preparation for GDPR compliance, a global financial services organisation embarked on a journey to assess its core information processing environments with the objective of identifying opportunities to strengthen its privacy data protection programs. This article focuses on the technology challenges, approach, and lessons learned for the centralised testing environment.
You’ve come to the right section for cash injection. Today’s fintech funding round-up features Contego, Privitar, Form3 and Barclays. Maven Capital Partners, a UK private equity house, has led the £3.5 million investment in Contego Fraud Solutions to support its growth plans. Maven is putting in £1.8 million, NVM Private Equity is investing £1.5 million, […]
From a mystery to a European duet. Our latest blockchain and Bitcoin round-up features the secretive SafeToken, China’s Asset Collection Chain, Swissquote and Bitstamp. A former (and anonymous) Goldman Sachs employee has launched the first “anti-bubble” derivative for Bitcoin. They didn’t reveal their name in their email or on the website. A search around hasn’t […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Set sail for fintech! The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
This year’s Banking Technology Awards are taking place on 13 December in London and there are plenty of reasons why you and your team should be a part of this prestigious event. Besides having a good chance at winning, entering the Awards also allows you to: Make global headlines in the industry if your entry […]
There is far more to regtech than regulatory technology, or at least there can and should be. Regtech, as it is coming to be understood, must be something qualitatively different from what it’s replacing and not just a faster and better version of the same thing.
A handy round-up of who’s investing in what in the fintech space. Featuring Revolut, Tango Card and ClauseMatch.
Tax evasion and tax fraud have been affecting governments finances all over the world over the decades. It occurs within a country and across countries. Thus, a single country cannot solve the problem on its own. Countries need to work more together and internationally to combat the problem home and abroad.
The shift from analogues to digital – according to Michael Meyer, Middlegame Ventures, during a regtech discussion at Money20/20 Europe – a major European bank he spoke with files over 50,000 pages as part of its quarterley regulatory reporting.
Banking Technology is on the lookout for all the best FinTech projects of the year! Recognising excellence, innovation and the use of IT in banking and financial services, the Banking Technology Awards will be taking place on 13 December in London. Think your achievements deserve a special recognition? Or know projects that do? Nominate today […]
This year’s Banking Technology Awards are taking place on 13 December in London and once again we will be recognising individuals for leading and playing an instrumental role in devising and/or delivering the technology strategy to support the key business objectives of an organisation. The Tech Leadership Award category is open to all industry participants worldwide – those […]
Know any innovative products, inspirational projects, skilled teams or visionary leaders that deserve a special recognistion this year? Nominate them for a Banking Technology Award!
Banking Technology and BearingPoint conducted a survey to find out the industry view on regtech and its implications for all parties involved. The findings are now available in this nifty infographics.
DLA Piper’s John D. McGonagle speculates on what the rise of blockchain technology might mean for the future of banking, the feedback which the UK regulator FCA may receive from interested stakeholders, and some of the regulatory and legal hurdles which blockchain technology may need to negotiate in the near future.
International Regtech Association (IRTA) is a new worldwide industry body with over 100 founding members.
UK-based regtech and risk management vendor Lombard Risk is still reporting losses in its latest full year results. For the period ended 31 March 2017, pre-tax loss came in at £1.6 million, an improvement on the £2.2 million from the year before. As reported in May 2016, as a result of its loss for 2015/16 […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
What support does the fintech industry, and the broader financial ecosystem actually want (or need) from government?
The Bank for International Settlements (BIS) has unveiled its FX Global Code, a set of global principles promoting good practice in the foreign exchange (FX) market. The code has been developed by a partnership of central banks and market participants from 16 jurisdictions for “integrity and effective functioning”. Many organisations are welcoming the code, such […]
Exploring how the robotic process automation (RPA) powered digital workforce looks to disrupt the manual effort intensive regulatory compliance landscape in BFS, what edge it has over its human counterpart, the roadmap towards RPA driven compliance, challenges in this digitisation journey and success mantras, and innovations that are underway towards building intelligent RPA to replicate human decision-making.
Asset management firm Jabre Capital Partners has chosen Broadridge’s integrated trading, portfolio management, and risk management platform to help manage its front, middle and back-office operations. Broadridge says its solution will enable Jabre to streamline and automate workflow, and help meet its pre- and post-trade compliance requirements while providing connectivity to brokers and EMS platforms. […]
What President Trump’s record on regulatory reform means for payments and financial services so far, and what comes next.
Good days and good times have come to Australia’s fintech scene with the 2017-18 Australian budget bringing in some useful initiatives. Some of the positives include open financial data reforms, reduced barriers for banking licences, an expanded regulatory sandbox and digital currency tax cuts – all welcomed by Fintech Australia, a national industry association. Australian […]
Correspondent banking relationships have reduced globally by 25%, despite the fact that global GDP per capita grew during the same period, following the 2008 financial crisis, according to research by Accuity. Henry Balani, global head of strategic affairs at Accuity, says: “The irony is that regulation designed to protect the global financial system is, in […]
A group of fintech companies and associations are asking for changes to the second Payment Services Directive (PSD2) due to fears it will force them to become technologically dependent on banks. The coalition of 60 European Union (EU) based entities have signed a seven-page manifesto seeking the European Commission (EC) to make changes to the […]
