4478 Results from /regulation
Mike O'Keeffe General manager at Corlytics
In 2017, it was reported that the payment protection insurance (PPI) scandal had cost some of Britain’s largest high street banks more than £34bn. Yet our analysis of over 1.25 complaints shows that the last kicks of PPI are still to come. With the PPI complaints deadline looming on August 29th 2019, our data shows that many banks are experiencing...
23 April 2019 /regulation /retail Financial Risk Management
Joey Kim
In stark comparison to how technologically advanced South Korea is (say for instance, introducing the world’s first 5G internet for smartphones) and being recognized as the most innovative country in the world according to Bloomberg’s annual Innovation Index, the Korean financial system is astoundingly outdated because of bank incumbents that are...
17 April 2019 /regulation Asia Financial Services
Retired Member
London was home to many European fintech companies - currently almost 50% of all payment institutions of the European Economic Area (EEA) are clustered in the UK. However, Brexit means that they will face the risk of losing authorization to provide financial services within the European Union (EU), e.g., lose the opportunity to serve clients from ...
16 April 2019 /regulation Fintech
Konstantin Rabin Head of Marketing at Kontomatik
I recently stumbled upon a very interesting infographic that I think captures the current state of the cryptocurrency world very well. The infographic was published by Forexnewsnow and captures some of the important statistics about the world of cryptocurrency today. Cryptocurrency regulation map The first map on the infographic is the cryptocurren...
15 April 2019 /regulation
In our previous discussion about ESMA, we were praising the regulatory move by the EU for its potential to protect retail clients from irks. But, after taking a close look at the effect that the regulation was having on the operation of brokes, we became slightly skeptical. We realized that there were some issues with the regulation that we were n...
12 April 2019 /regulation
Chris Holmes Senior Vice President at KAE Consulting
When contemplating FinTech in China, Alibaba and Tencent – among the world’s largest FinTech disruptors – will most likely be at the forefront of discussions. With market capitalizations of around half a trillion US$, the two tech giants account for over 90% of mobile transactions in China (through Alipay and WeChat Pay). However, mobile payments ...
10 April 2019 /regulation Asia Financial Services
Nancy Weir Industry Principal at Pegasystems
A long, long time ago…. well, actually not so long ago, in the land of KYC, the customer was at the end of the food chain in the eyes of those operating in the KYC space, the Compliance and Back Office staff charged with preparing and approving the KYC due diligence cases. “A necessary step to getting the work done” or “the reason for not complet...
09 April 2019 /regulation Banking Strategy, Digital and Transformation
Freddie McMahon Director Strategy and Innovation at DF2020 Ltd
The growing recognition of new value creation from using chatbots has amplified market hype, even though there are many genuine cases delivering benefits. This growing momentum has cultivated a populist belief that natural language processing, powered by machine learning, is fit for purpose in any context. Furthermore, it has cultivated a sense-mak...
09 April 2019 /ai /regulation Innovation in Financial Services
Losses totalling £354m arising from Authorised Push Payment (APP) scams were recorded in 2018. This staggering number of losses represents a total of 83,864 victims, the majority of which were on personal accounts. To help reduce cases of APP scams and to minimise the impact the crime can have on consumers, a Voluntary Code and a Confirmation of P...
09 April 2019 /payments /regulation
Barley Laing UK Managing Director at Melissa
Recent research points to an increase in financial crime as criminals take advantage of access to billions of compromised data records for sophisticated application fraud attacks targeted at financial institutions. The research we carried out with the AITE Group in 2018 found that 13 billion data records were stolen or lost in the US since 2013, wh...
08 April 2019 /regulation Banking Strategy, Digital and Transformation
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.