India’s central bank says there are no curbs for banks to serve crypto traders
“No such prohibition exists” for banks, says regulator.
Regulation
Contracts: a picture paints a thousand words
Visualisation is a growing trend within the enterprise space.
Strong customer authentication suffers another delay
Biometrics authentication is fast & easy to deploy, benefitting all stakeholders in an online payment transaction.
The Bancorp announces release from consent order
Restrictions related to growth within The Bancorp’s Payments businesses are removed.
OP Financial chooses Finnish fintech Enfuce for turn-key PSD2 services
The services will help develop APIs alongside evolving regulations.
Four EU banking bodies request one-year delay to T2-T2S consolidation
The consolidation is due to be completed in November 2021.
New digital business models depend on agile and adaptive compliance processes
Flexibility, rhythm, and simplification are vital in helping institutions survive and thrive in this riskier world.
E-book: Are you using the best approach to verify customer identities?
Safely onboard more customers, supercharge your operations team, address identity AML & KYC compliance.
Banks investigate sales push linked to corporate loans
Barclays, Deutsche, HSBC and Santander among lenders conducting internal reviews.
European regulators lift short-selling bans
Austrian, Belgian, Greek, French, Italian and Spanish regulators took a joint decision to lift the restrictions.
UK SME lender B-North adds TruNarrative to its tech stack
The two have been working together since early 2019.
COVID-19: Highlight of the week
We focus on one particular coronavirus news item affecting the fintech industry.
Chinese regulator preps for market clampdown
CSRC has promised a greater crackdown on fraud, insider trading and market manipulation.
Niche Global picks Volante to underpin European entry
Hong Kong payments firm plans market expansion with Volante.
Morgan Stanley pays $5m fine for misleading investing clients
The bank’s retail “wrap fee” programmes incurred non-transparent charges.
Global fintech sees worst Q1 since 2016 for VC-backed deals
The quarter saw just 404 deals and ended on $6.1 billion.
UBS vies for Chinese digital bank licence
The rules are designed to ease foreign access to China’s financial market.
European Commission plans to plug gaps in AML and CTF rules
The EC wants to “shut down” any “loopholes” and remove any “weak links” in current rules.
White paper: The digitalisation of sell-side risk management
What are the latest trends in risk management for sell-side institutions and what shapes them?
IBM, R3, Mastercard, and Accenture form Trust over IP Foundation
The group want to create a standard for a decentralised digital identity exchange.
Citi’s Proxymity lands $20.5m from HSBC, JP Morgan and Deutsche Bank
The funding round will see it become its own London-based entity.
Only the best wealth management CRM can meet today’s regulatory challenges
It is not possible to overplay the economic and reputational importance of compliance.
Webinar: Transform your customer experience with modern information management
Real-life examples of how FIs delivered value to customers, reduced technology costs & transformed their businesses.
Path Solutions and Thomson Reuters extends GCC systems partnership
iMAL core banking and Onesource tax solutions to be offered in tandem.
UK banks see surge of interest in Bounce Back Loans Scheme
In the first minute after 9am, Barclays had received 200 applications.
IHS Markit acquires Singapore-based Catena Technologies
Previously a fintech consultancy, Catena was overhauled in 2014.
NatWest extends 7-year Artesian contract
The vendor will continue to provide its customer insights and relationship systems.
FCA extends SCA deadline for merchants by six months
The new timeline is 14 September 2021.
Video: Top fintech stories this week – 01 May 2020
FinTech Futures’ weekly news round-up.
ABA unveils suite of core banking selection resources
US association continues campaign to diversify core banking market.
The old-school approach to risk management you need to dump right now
Data that is submitted manually for compliance in many cases can be erroneous.
KPMG’s Wirecard audit fails to verify payments processing profits
Six-month investigation into the German firm encounters stumbling blocks.
Revolut seeks help applying for UK banking licence & loses four more execs
Revolut’s goals remain the same, despite coronavirus.
EU payments bodies call for further SCA delay
An open letter sent to the EBA recommends a June 2021 deadline.
FSB consults on effective practices for cyber incident response and recovery
The FSB welcomes responses to the questions set out in the consultation by 20 July 2020.
Portuguese government gets one step closer to approving fintech sandbox
The sandbox is part of the government’s Action Plan for Digital Transition.
Monzo applies for US banking licence
Monzo applied to the US OCC for the licence on Monday.
Webinar: Getting reconciliation right in the ‘decade of data’
A blueprint for consolidating, automating and driving efficiency across reconciliation.
Israeli fintech BioCatch raises $145m in Series C
More than 40 financial institutions use BioCatch’s technology.
Explained: Protecting your ideas
Does your fintech need a patent? Does your invention need protection, or will you need something else?
