Community
Discussion around current trends in regulations for banks globally
As the owner, you will also give up ownership if you leave this group.
John Byrne CEO at Corlytics
The global regtech market is exploding. By 2023 revenues are expected to be worth $12.3 billion, growing at a compound annual growth rate of 25.4% over the next five years[i]. The pace at which it is evolving has even led Deloitte – who we are proud to be collaborating with on some new client engagements – to call regtech “the new fintech”[ii]. Th...
21 February 2019 /regulation
Retired Member
Maintaining payment security compliance is key to preserve consumer and supplier trust in a brand. However, the Payment Security Report (PSR) 2018 showed that compliance with the Payment Card Industry Data Security Standard (PCI DSS), the standard that protects this data is slipping. In order to stop this downward trend, businesses need to reasses...
Brandon Li Product Manager at Austreme
The rapid development and rising volume of e-commerce transactions in recent years has encouraged the outbreak of cybercriminals – who are finding more and more complex ways to conceal profits that are likely to have been earned illegally, via an online environment. The extensive range of payment systems available along with the exponentially grow...
29 January 2019 /payments /regulation
Shirish Netke President at Amberoon
Money laundered through the banking system is estimated to be over 2 trillion dollars a year. A recent study by BAFT (Bankers Association of Finance and Trade) estimates that 1% of the proceeds from financial crimes are intercepted. Meanwhile, nine out of ten suspicious activities flagged by AML software in banks are false alarms. Let’s put these ...
20 January 2019 /regulation
Matt Smith CEO at SteelEye
We are close approaching the 1st anniversary of the most anticipated regulatory change in recent years – MiFID II. Sweeping into force on January 3, 2018 MiFID II brought with it a huge overhaul of the financial services industry that aimed to increase transparency, reduce costs for investors and clampdown on market misconduct in the financial ind...
02 January 2019 /regulation
Anna Kuzmina Expert at Fintech
“Central Bank of Russia takes control over foreign payment systems and e-wallets”, “Alipay and WeChat Pay will be restricted in Russia”, “Russian Central Bank will strengthen regulation towards Apple Pay and Google Pay” — these were the business news headlines after new amendments to payment laws were introduced to the Russian government last week...
18 December 2018 /payments /regulation
Since the beginning of the financial crisis in 2008, financial institutions have had to deal with a series of regulations to increase transparency. The objective? Creating a safer, more robust and more transparent financial system. Level of Fines at a Distant Second to the USA Europe accounts for 7% of global AML fines levied in the last 10 years, ...
07 November 2018 /regulation /wholesale
Rik Coeckelbergs Independent Advisor, Opinion Maker and Consultant at The Banking Scene
Last week I represented The Banking Scene at 5th NPF and Regtech Leaders Forum, a boutique conference in the middle of Brussels, with about 75 participants. The Banking Scene was a media partner at this Forum. The topics and speakers were great: diverse and straight to the point. An international audience gathered, open for interaction and networki...
02 November 2018 /regulation /inclusion
Michael Kerman Marketing Executive at Self-Employed
After the 2008 crisis, financial institutions faced a mountain of new regulations and related challenges around data collection, monitoring and reporting. Hundreds of Regulatory Technology (RegTech) startups sprang up to help. But there’s one thing that’s often overlooked in the dynamic RegTech space: it’s not just about startups. RegTech is abo...
29 October 2018 /regulation
Revise Payment Service Directive (PSD2) is a new regulation provided by EU Directive, administered by the European Commission (Directorate General Internal Market) to regulate payment services and payment service providers throughout the European Union (EU) and European Economic Area (EEA). PSD2 provided enormous opportunities to Banks, Customer...
21 October 2018 /regulation
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.