Fintech is still too small a chunk of the global financial system to present a compelling stability risk but the sector's fast-paced development means that international regulators should collaborate closely to guard against future risks, says a new report.
Barclays has approached the UK's Financial Conduct Authority (FCA) to talk about how it can bring cryptocurrencies like Bitcoin "into play".
Trade groups representing over 5000 European savings and co-operative banks have called on the European Banking Authority to reject Commission amendments to the revised Payment Services Directive which would require banks to provide a fall-back interface to screen-scraping technology for third party access to consumer bank data.
As the 4th EU AML Directive comes into force today, a pair of studies suggests that while most UK FS industry financial crime professionals think the new rules will make it easier to prevent money laundering, they are likely to cost banks millions in inefficient KYC checks.
UK startup TrueLayer, a fintech developer platform that provides access to bank APIs, has secured $3 million in series A funding to pursue opportunities created by PSD2.
Payments professionals from across Europe are gathering in Dublin this week for EBAday 2017, hosted by the Euro Banking Association and Finextra. We're liveblogging events here.
Alternative trading system (ATS) operator OTC Markets Group has argued that the Securities and Exchange Commission should revise the proposed fee schedule for the Consolidated Audit Trail (CAT) system the SEC is creating to monitor trading in all exchange-listed equities and options following the 2010 "flash crash".
The UK's banks will have to change one million customer sort codes under new ring-fencing rules set to be introduced in 2019.
The Financial Conduct Authority has selected 31 firms for its second cohort of regulatory sandbox participants, narrowing down the field from an initial list of 77 submissions.
© Finextra Research 2017