Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

Chris Holmes Peer at House of Lords

How will AI be regulated in the UK?

AI is impacting all sectors across financial services - capital markets, investment and retail banking; you name it, it’s algorithm-ed it. If you are seeking out a financial product, mortgage or de-materialized instrument, AI is likely in the mix. Last year NVIDIA reported over 75% of companies employing at least one of the traditional AI use cases...

12 July 2023 /regulation

How banks can prepare for the ever-growing risk of litigation

Tom Webley Partner at Reed Smith

How banks can prepare for the ever-growing risk of litigation

Given the recent high-profile bank collapses and restructurings, it is logical to consider the similarities between the current situation and 2008, and if recent events will lead to industry-wide litigation to the same extent that we saw previously. As a starting point, we should remind ourselves what happened in 2008. On one level, the Global Fina...

04 July 2023 /regulation

Consumer Duty: the importance of trust in the age of customer empowerment

Aalekh Bhatt GTM lead - Digital Marketing, UK Banking at Capgemini

Consumer Duty: the importance of trust in the age of customer empowerment

This article was co-written by Chandramouli Venkatesan, vice president, Digital Transformation, and Aalekh Bhatt GTM lead – Digital Marketing, Banking and Capital Markets UK at Capgemini. The entire world is currently attempting to manage financial downturn, and the UK has not been left untouched by this upheaval. The International Monetary Fund p...

03 July 2023 /regulation

The Financial Services and Markets Bill reaches final stages

Chris Holmes Peer at House of Lords

The Financial Services and Markets Bill reaches final stages

The Financial Services and Markets Bill could be described as epic – in terms of proportions (346 pages), in terms of impact (biggest shake up of financial services in a generation), and in terms of the time it is taking to make its way through all parliamentary stages. The Bill was introduced in the Queen’s speech in May 2022 and given first rea...

28 June 2023 /regulation

Suptech, APIs, and the future of innovation in risk management

Sehrish Alikhan Reporter at Finextra

Suptech, APIs, and the future of innovation in risk management

This is an excerpt from The Future of Risk Management and Compliance 2023 report. Suptech will reduce threats with data analytics Financial supervisor technology (suptech) uses innovative technology to digitise regulatory strategies and curate a more risk-based approach to financial supervision. Currently, suptech is implemented through data analy...

27 June 2023 /regulation

How to prepare for the new European legislative landscape

Madhvi Mavadiya Head of Content at Finextra

How to prepare for the new European legislative landscape

Geopolitical uncertainties and macroeconomic challenges have resulted in increased innovation that have ensured that RTGS and Faster Payments rails are superseded by instant payments and paved the way for ISO20022. This could not have been possible without legislation and support from regulators. October 2022 saw the European Commission announce a...

21 June 2023 /regulation

AI and machine learning will dominate new solutions

Sehrish Alikhan Reporter at Finextra

AI and machine learning will dominate new solutions

This is an excerpt from The Future of Risk Management and Compliance 2023 report. Innovation and preservation In the era of digital transformation, there are an endless number of innovations taking place for risk management among all levels of financial institutions. Lurking in the shadowy corners of cyberspace, new threats arise for increasingly d...

15 June 2023 /regulation

Banks must prepare for the next Black Swan event

Níamh Curran Senior Reporter at Finextra

Banks must prepare for the next Black Swan event

This is an excerpt from The Future of Risk Management and Compliance 2023 report. Within the context of these arising risks, financial institutions are looking to increasingly sophisticated ways of preparing themselves for these events, and the crimes they make institutions vulnerable to. Roshni Patel, Quantexa, refers to these global events as, ‘B...

14 June 2023 /regulation

Níamh Curran Senior Reporter at Finextra

New risks in an uncertain market

This is an excerpt from The Future of Risk Management and Compliance 2023 report. External global factors continuously have an impact on on the challenges faced by financial institutions around regulation. The last few years have challenged the compliance departments in most financial institutions, but 2022 moving into 2023 has offered a host of n...

13 June 2023 /regulation

Consumer Duty will require institutions to deliver good outcomes for retail customers

Paige McNamee Senior Reporter at Finextra

Consumer Duty will require institutions to deliver good outcomes for retail customers

This is an excerpt from The Future of Risk Management and Compliance 2023 report. The UK ’s long awaited Consumer Duty is due to come into force on the 31st of July 2023, and financial institutions are being encouraged to “eat the frog” in the coming months and ensure they are fully prepared for the impending regulation. The FCA’s Consumer Duty wi...

25 May 2023 /regulation

CBDC and progress across digital currencies could be feasible

Paige McNamee Senior Reporter at Finextra

CBDC and progress across digital currencies could be feasible

This is an excerpt from The Future of Risk Management and Compliance 2023 report. Under the technology and innovation pillar of The Edinburgh Reforms, the UK Government outlined its desire to ensure the regulatory framework supports innovation and leadership in emerging areas of finance, facilitating the adoption of cutting-edge technologies. The R...

24 May 2023 /regulation

Open banking reviews should lay the groundwork for open finance

Paige McNamee Senior Reporter at Finextra

Open banking reviews should lay the groundwork for open finance

This is an excerpt from The Future of Risk Management and Compliance 2023 report. During 2022, European regulators launched consultations into revisions for the Second Payment Services Directive, otherwise known as PSD2. Since coming into effect in 2016, payments have evolved dramatically, and regulators are motivated to understand the impact PSD2...

15 May 2023 /regulation

Long reads