ING invests in regtech Ascent
The Dutch bank backs AI-driven regulatory compliance solutions.
Compliance
Interac acquires Ottawa-based digital security company 2Keys
2Keys will operate as “2Keys – a subsidiary of Interac Corp”.
Immersive Labs lands $40m investment round, opens Boston office
The start-up sees clear demand for cybersecurity support in North America.
Bitcoin ATMs in Nevada now need a money transmitter licence and bond
Find out the basics about virtual currencies regulation in Nevada.
PRA warns insurers over work culture
Staff must feel able to speak up about their concerns.
UK Treasury makes paying back consumers victim to APP fraud ‘compulsory’ for banks
The phrase ‘gross negligence’ will also be defined.
German bank association fires shots at Libra, calls on politicians and central banks for digital euro
The association wants a crypto led by European commercial banks and politicians.
Monzo hires new CRO with blue chip banking career
Lisa Nowell leaves ClearBank after just six months.
Banking Technology November 2019 issue out now
The identity challenge.
OneSpan director: Banks need to implement AI’s full potential
Banks still have siloed data pools which can’t quite be pulled.
Temenos picked by Danish challenger Lunar to fight financial crime
Temenos says it was chosen to “address stringent regulatory demands”.
US fintech community dealt blow by federal court as charter is denied
The OCC will be appealing the decision by the US courts.
Investor rights lawyers investigate Wirecard securities fraud
Earlier this year, white-collar crime investigators raided Wirecard’s offices in Singapore.
Can compliance directors successfully reposition themselves as business leaders?
The role of banking compliance is in mid-evolution.
FCA will ‘take appropriate action’ against product greenwashing which misleads customers
The regulator will work on “common standards and product disclosures”.
Libra’s woes continue as Booking Holdings departs
The association has now lost 25% of its membership.
Queen’s Speech reinforces UK’s aim to be world-leading regulator
The report found London has the world’s highest concentration of finserv firms.
US regulators remind FIs of AML obligations for digital assets
The CFTC, SEC and FinCEN point to AML/CFT requirements for digital assets.
China to ditch some foreign ownership limits next year as trade-war concession
Limits to be scrapped for securities, futures and fund management firms next year.
Facebook’s Libra suffers additional regulatory scrutiny
FSB & G7 leaders believe it should halt operations until legal oversight is completed.
Mastercard, Visa, eBay and Stripe follow PayPal’s suit and leave Facebook’s Libra
Facebook’s hopes of a global cryptocurrency are hanging in the balance.
Federal Reserve shelves tougher liquidity rules for foreign banks
Minimum level of liquid assets not required by US branches.
Banks’ culture and governance next target for Australian regulators
There will be “deep dive” reviews if firms don’t deliver.
Standard Chartered Bank tackles reporting restrictions with BearingPoint
The new solution covers more than 130 jurisdictions.
Russia’s Sberbank catches internal culprit of data leak
The leak could have affected at least 200 of its customers.
PayExpo 2019: We will be taking action, says FCA on insufficient safeguarding
The regulators found banks are delaying safeguarding precautions.
ESAs identify weaknesses leaving high-volume transaction firms open to money laundering risks
The three European Supervisory Authorities (ESAs) publish their second joint opinion.
Banking Technology October 2019 issue out now
Lessons from Africa.
Regulators could delay Facebook’s Libra launch, says executive
Libra’s MD says regulators must be “fully onboard” first.
What you need to know before implementing artificial intelligence & machine learning
ML solutions should be trained in the three Cs of data visualisation: Correctness, context and category.
SEC introduces new rule to boost ETF competition
US regulator hopes to break open a market dominated by large players.
ISLA tells lenders how to avoid “unsustainable levels” of cost and risk
By standardising and automating, the industry will become “future-proof”.
LendIt Fintech Europe 2019: digital identity – a nut that remains to be cracked
Over time, like the isolated email systems before them, digital identity solutions will become interoperable.
US regulators targeted with bipartisan Financial Transparency Act
House wants US regulators to improve their data collection and transparency.
Sibos 2019: Final wrap-up of talks, interviews and daily news
See our final wrap-up of the London-hosted four day event!
ABN Amro under investigation for anti-money laundering failures
European crackdown on money laundering continues.
UK banks halt £820m of fraud in the first half of 2019
Figure means an increase of 14% in blocked criminal transactions.
Sibos 2019: “We don’t get rid of anything in this industry”, says Fiserv director
Fiserv talks on the evolution of payments.
Revolut to deploy BearingPoint regulatory reporting system
AnaCredit and EBA reporting covered by BearingPoint’s Abacus360.
HSBC deploys industry first automated AML system
New software developed by AI firm Quantexa.
