4423 Results from /regulation
Lars Frösslund Head of Strategy & Transformation at SkySparc
The new Instant Payments Regulation (IPR), effective April 8, 2024, mandates that European banks and payment service providers offer instant euro transfers at the same cost as regular transfers, with full implementation deadlines set for January 2025 for Eurozone banks. This regulation requires payments to clear within 10 seconds, 24/7, impacting ...
16 September 2024 /payments /regulation
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
Home- and SME-business e-banking was introduced in Finland in the early 80s. It became a success first because of bill payments and as employees were allowed to use workplace computers for personal banking (modems for home PCs were not that common first). Share trading and other bank services were added soon after. Interconnecting customers with e...
11 September 2024 /regulation /identity Innovation in Financial Services
Kyrylo Reitor Chief Marketing Officer at International Fintech Business
A correspondent bank account is a vital system of relationships between financial institutions that facilitates international payments. Here’s a breakdown of the types and benefits of these accounts: Types of Correspondent Accounts 1. Nostro Account: An account a bank holds with a foreign bank. For instance, a Ukrainian bank may have a Nostro accou...
11 September 2024 /regulation /wholesale Banking
Jeffrey Wheatman SVP, Cyber Risk Strategist at Black Kite
As the financial services industry undergoes constant change, managing the complexities of compliance presents a challenge. Compliance teams are overwhelmed with many regulations, each with unique controls and requirements. These often encompass over 100 compliance sets and thousands of controls, making it difficult to balance regulatory demands w...
10 September 2024 /ai /regulation Financial Services Regulation
Elaine Mullan Head of Marketing and Business Development at Corlytics
Buying regulatory technology is a little different than assembling IKEA furniture but then there's effort justification and the sneaky mental trap that makes decision making messy. Effort justification is a sneaky mental trick that makes us value things more just because we worked hard for them. Imagine spending hours assembling a piece of furnitur...
10 September 2024 /regulation RegTech
Alessandro Hatami Managing Partner at Pacemakers.io
The banking industry is at a crossroads, driven by the disruptive potential of artificial intelligence (AI). More than just a shiny new technology, AI is fundamentally changing how banks operate, interact with customers, and manage risk. What makes AI so compelling for banks is not just its ability to automate tasks but its potential to enable dee...
09 September 2024 /ai /regulation Artificial Intelligence and Financial Services
John Bertrand MD at Tec 8 Limited
It was good news to hear that the regulators changed the ceiling of reimbursements to £85,000 from £415,000 and stopping the yellow journalism of all APP frauds would immediately rise to £415,000. The £85,000 level covers 90% of today’s APP scams. It’s important to match the ceiling on bank deposit compensation schemes world-wide. The new regulati...
06 September 2024 /payments /regulation The Payments Business
Alexander Boehm Chief Executive Officer at PayRate42
Stablecoins have emerged as a key component in the digital asset ecosystem, offering a bridge between traditional fiat currencies and cryptocurrencies. They provide the stability of fiat currencies while retaining the benefits of digital assets, such as rapid transaction speeds and global accessibility. Key players in this space include Circle, Te...
05 September 2024 /regulation /crypto
Ben O'Brien Managing Director at Jaywing
The message is clear: Payment Service Providers (PSPs) will soon be required to reimburse victims of Authorised Push Payment (APP) fraud up to £85k. In this post, we explore the upcoming changes, examine how fraudster behaviour is evolving, outline what lenders need to do to comply with the new regulations, and discuss ways to protect vulnerable cu...
05 September 2024 /regulation /crime
Andrew Abraham Global Managing Director of Data Quality at Experian
We are working in a world where digital transformation is happening at pace with technology rapidly transforming our lives and work. With that, data governance has emerged as a key priority for business leaders. Why? Putting it simply, there is an immense amount of data being created but many organisations struggle to manage data effectively due t...
04 September 2024 /ai /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.