4465 Results from /regulation
John Bertrand MD at Tec 8 Limited
A superb discussion at EBAday 2023 was on the move to real-time cross border payments everywhere. Movement from next day payment delivery into the bank account to within an hour to become the new norm. “The G20 proposed standard of 75% payments made within 60 minutes.” The G20 standard coupled with the EU are mandating instant euro payments by year...
09 July 2023 /payments /regulation Payments strategies 2015-2020-2030
Mete Feridun Chair at EMU Centre for Financial Regulation and Risk
The Basel Committee on Banking Supervision (BCBS) issued a public consultation on revisions to the Core principles for effective banking supervision ("Core Principles") on 6 July 2023, reflecting supervisory developments and structural changes affecting the banking system since the previous update in 2012 in six areas: financial risks; o...
08 July 2023 /regulation /retail Banking Regulations
Michael Saadat
At this year’s edition of London Tech Week held last month, advocates of the city’s tech scene once again convened to showcase its benefits as a global hub for innovative business. But, while much of the conversation was understandably focused on AI’s role in the future economy, this year’s event also marked a critical moment for the UK’s pioneer...
06 July 2023 /payments /regulation BNPL
Maysam Rizvi CEO at Elifinty
The FCA’s new consumer duty regulations, coming into force on the 27th of July, require firms to deliver good outcomes for retail customers. Financial Institutions are concerned about the new regulations, often requiring them to overhaul many processes left untouched for decades on end. Herein lies the golden opportunity for nimble fintechs; by bu...
06 July 2023 /regulation /startups Financial Inclusion
Steve Morgan Banking Industry Market Lead at Pegasystems
Bringing together two financial organisations to offer better value to customers, greater organisational efficiencies and to be a platform for ongoing innovation is quite simply the toughest challenge any financial institution has to face. Notwithstanding the regulatory scrutiny, there are so many moving pieces to work with and you need to minimis...
05 July 2023 /payments /regulation Banking Regulations
Neil Glover Senior Director, Customer Solutions at Quantanite
Most readers of this journal will have some awareness of the FCA Consumer Duty. The important date when the new rules will apply is 31 July 2023 - not long now. In short it sets out to achieve an improvement in consumer protection by requiring financial service companies to deliver good outcomes for customers. Surely all financial service companie...
05 July 2023 /regulation /people Outsourcing Banking, Financial Services Operations
Retired Member
According to Wikipedia, “in science, computing, and engineering, a black box is a system which can be viewed in terms of its inputs and outputs, without any knowledge of its internal workings. Its implementation is "opaque" (black) .The opposite of a black box is a system where the inner components or logic are available for inspection, ...
04 July 2023 /regulation RegTech
Daniel Schlaepfer CEO at Select Vantage Inc
Last Thursday, the European Union said that member states and the European Parliament had reached a deal on updating the bloc's MiFID-related securities trading rules. The EU has been reviewing its rules to reflect advances in trading technology as well as the departure of the United Kingdom from the bloc, presenting new competition to EU markets. ...
03 July 2023 /regulation /markets MiFID
The new Payment Services Directive (PSD3) proposed by the European Commission (EC) on 28 June 2023 marks a significant milestone in the evolution of the financial services industry. Designed to address emerging fraud risks and ensure that the European Union's (EU) financial sector remains adaptable in the face of digital transformation, PSD3 place...
02 July 2023 /payments /regulation Banking Strategy, Digital and Transformation
Something has to be done to reduce the gargantuan amount of time it takes European consumers on average to get through checkout on an eCommerce website. That was our main takeaway from the PhocusWright EU 2023 that took place earlier this month in Barcelona. The European eCommerce landscape is often characterized by a slow checkout process, with an...
29 June 2023 /payments /regulation The future of Payments in Europe
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