Increased regulatory burden is hampering smooth and timely onboarding of customers, as banks struggle with technology implementation and budget parameters, according to financial industry professionals surveyed in a new paper by Finextra Research.
Clearing houses in the UK will have to complete regular cybersecurity reports due to new legislation likely to be introduced in May 2018.
A recently published report states that, contrary to the fears of Brexit-sceptics, the UK's exit from the European Union will create as many as 80,000 new jobs - the majority of which will be in financial services. The only problem for Brexiteers is that the jobs will be in Frankfurt rather than London.
The Australian government has announced plans to strengthen its anti-money laundering rules with new reforms that will include digital currencies for the first time.
NatWest is trialling the use of artificial intelligence technology from a company set up by a former FSA regulator to monitor and analyse the context of sales conversations recorded between clients and front-life staff.