211 Results from 2021, /regulation
Retired Member
Insurance companies have been relying on the same legacy technology for many years now, but it is increasingly clear that what has kept their businesses running smoothly for so long will not be up to the daunting challenges of the future. For one thing there are new compliance and regulatory hurdles ahead that need computational and analytical cap...
09 July 2021 /regulation Fintech
Dmitry Dolgorukov CEO at GiniMachine
First, there was open banking — a considerable step forward in democratizing the financial services industry. With third-party access to banking via application programming interfaces (APIs), consumers were able to connect with a broader range of financial products and take greater control over their financial future. Now, the wave of open techno...
08 July 2021 /regulation /predictions Open Banking
Andreas Hobbelin Head of AML & FCP at ZTL PAYMENT SOLUTION
In February 2021, I asked the Swedish company registry (#Bolagsverket) about some statistics regarding beneficial ownership, this is the response: Approx.: - 70.000 companies have registered that they don't have a beneficial owner. - 13.500 companies with a beneficial owner that is a non-resident and or not registered with a Swedish national ID. ...
07 July 2021 /regulation /crime Banking Regulations
King Leung Global Head of Financial Services and FinTech at InvestHK
Traditional banks, insurers, and financial service providers in Hong Kong are jumping on board with fintech adoption, with a Hong Kong Monetary Authority (HKMA) study showing 86 per cent of incumbents are currently adopting fintech technologies. These financial institutions have succeeded to varying degrees in digitalising their businesses. Yet, m...
07 July 2021 /regulation /inclusion Banking Regulations
Barley Laing UK Managing Director at Melissa
With more people engaging and transacting with organisations online during the pandemic, there has been a corresponding rise in fraudulent activity. In the banking industry the Office for National Statistics (ONS) found a 68 per cent increase in remote banking fraud in 2020. Furthermore, research from UK Finance reveals that £479 million was lost...
02 July 2021 /regulation /identity Digital Identity Management
Shagun Varshney Senior Product Manager at Signifyd
Risk professionals and retail leaders for months have been fixated on the new strong customer authentication (SCA) requirements that arrived with PSD2 — and rightfully so. The new payments regulation, set for enforcement in the UK in March 2022, is a once-in-a-generation change with the potential to massively disrupt an enterprise or to push an ent...
01 July 2021 /payments /regulation Digital Sales
No, it’s not a Bank, it’s an offshore bank located east of Malta (35°53'N 14°45'E) and hardly visible on the map What about Hurds bank? If I say bypassing sanctions, do I have your attention? Since at least 2015, Russia, Venezuela, Iran, Syria, Libya and even North Korea as well as terrorist organizations such as Hamas and Hezbollah, have been r...
01 July 2021 /regulation /crime Transaction Banking
Vivek Pingili Director at ACA Group
The private markets fund industries have seen a significant proliferation in both the volume and complexity of side letters over the course of the last decade. Given the long-term nature of investing in the private markets via closed-end structures, where investors are often locked into such vehicles for periods of 10 years or longer, investors h...
25 June 2021 /regulation Private Equity Investing in Financial Technology
Kartik Swaminathan Author - 3F: Future Fintech Framework & Founder at Fintastech (Fintech Consulting & Coaching)
Artificial Intelligence, Machine Learning & Deep Learning (AI, ML & DL) are being increasingly looked at w.r.t bringing in benefits of automation and reducing human limitations or bias in the system. I recently attended some online sessions on AI, ML & DL, where presenters shared some good perspectives. I learnt that, while AI, ML &...
24 June 2021 /regulation /retail Artificial Intelligence and Financial Services
Data is produced and collected at an unprecedented scale by users and companies. However, GDPR regulations impose strict restrictions on internal and external data sharing for public and private organizations. This is problematic in many ways. Consider healthcare, for instance, where clinicians would like to understand possible outcomes of availab...
24 June 2021 /regulation /predictions Synthetic Data
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