248 Results from 2024, /regulation
Francesco Fulcoli Chief Compliance and Risk Officer at Flagstone
The Financial Conduct Authority (FCA) has set higher standards for financial services firms through the implementation of the Consumer Duty, a key part of its 3-year strategy to promote transparency, fairness, and consumer protection. In a recent multi-firm review conducted in early 2024 and published the 9th of October, the FCA evaluated how pay...
09 October 2024 /regulation /inclusion Fintech
Azimkhon Askarov Co-partner at CONCRYT
The use of biometrics to validate payments is far from a new concept, but so far, the market has been insufficiently ready for the evolution, instead encouraging consumers onto mobile payments from card-based solutions. Is all that about to change? The way we think about security has been transformed by the evolution of technology. While passwords...
09 October 2024 /payments /regulation
Saurabha Sahu Senior Solution Consultant at Wipro Limited
Let's delve into the key considerations that Regulators take into account to prevent Data Colonization. The aim is to establish a well-rounded framework that safeguards both individual rights and national sovereignty, fostering innovation and economic development. #DataColonization #Regulation #Innovation #EconomicGrowth ---------------- ---...
09 October 2024 /regulation /identity Data Management and Governance
Kyrylo Reitor Chief Marketing Officer at International Fintech Business
In the European Union, the regulation of electronic money (e-money) is a critical topic that bridges the gap between technological innovation and financial security. The legal framework primarily governing e-money in the EU is the Second Electronic Money Directive (EMD2), which was adopted in 2009 and implemented by Member States in 2011. This dir...
09 October 2024 /security /regulation Banking Regulations
Obirije Ndubuisi CTO at Afriex
Unstoppable Rise of Stablecoins in the Remittance Landscape The global remittance industry, a financial lifeline for millions of people around the world, is undergoing a seismic shift. Traditional remittance channels, on their part, have reached saturation and are plugging along with unnecessary high fees, snail-like speeds, and restrictive access...
09 October 2024 /regulation /crypto Cryptocurrency Insights
Rajat Deshpande CEO and Co- founder at FinBox
Remember the “good” old days when one needed to furnish copies of bank statements to avail financial services? It’s safe to say we’ve come a long way since then – for the most part, at least. Today, getting aboard a financial service platform takes mere minutes and fewer documents, if any. As for bank statements, the account aggregator (AA) framew...
07 October 2024 /regulation /inclusion Banking and Lending Solutions
The FCA has released a detailed report on the Price and Value Outcome as part of its ongoing Consumer Duty framework. This update provides crucial insights into how firms can ensure they deliver fair value to their customers and highlights examples of both good and poor practices across the financial services sector. Below are some of the most im...
07 October 2024 /regulation /inclusion Fintech
Anna Antimiichuk Head of Communications, PhD at Corlytics
With only three months remaining until the implementation date, AFME brings to the light DORA-readiness after the transition period The implementation of DORA – the Digital Operational Resilience Act that’s looming on the horizon – is being viewed as a significant operational uplift by all market participants, one of the AFME's panel discussio
02 October 2024 /regulation /markets Banking Regulations
Harriet Christie Chief Operating Officer at Mirrorweb
The Financial Conduct Authority’s (FCA’s) Consumer Duty officially came into action over a year ago, with an implementation deadline of 31st July 2023 for all new and existing products and services. The regulator favored a phased approach, with different obligations landing at different stages throughout the adaptation. This concluded in July 202
02 October 2024 /regulation /wealth RegTech
Correspondent banking relationships are vital for facilitating international transactions. However, the reliability of these correspondent bank accounts is crucial for mitigating risks, including fraud and financial instability. Here are five essential steps to ensure the reliability of correspondent bank accounts. Step 1: Verify Regulatory Compli...
02 October 2024 /security /regulation Financial Services Regulation
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