Al Ansari Exchange chooses Pelican’s AI-based AML solution
Al Ansari Exchange hopes to create “an industry-leading compliance framework”.
Regulation
Open banking: A move towards greater or lesser transparency in banking?
Will it reduce or increase information asymmetry between consumers and finserv companies?
Yapeal awarded Switzerland’s first fintech licence
Challenger plans to reinvent retail banking in the country.
Who owns your data?
The answer to competition is not to block access to customer data.
EBA suspends EU banks’ stress tests over coronavirus impact
European regulator encourages flexibility in reaction to the virus.
FCA issues coronavirus cryptocurrency scam warning
UK watchdog tells investors to be wary of deals too good to be true.
Western Union refunds $153m for scam victims
Western Union agreed to pay $586 million in monetary relief following a 2017 scandal.
CFPB files account fraud lawsuit against Fifth Third Bank
US regulator claims bank opened credit accounts without customers’ permission.
Step aside China, it’s Southeast Asia’s turn in the spotlight
The region is full of promise and possibility for investors and entrepreneurs alike.
Budget 2020: What’s the fintech impact?
FinTech Futures picks out the fintech tidbits in this week’s announcement.
FCA plans market changes to simplify mortgage switching
UK watchdog concerned that non-switching consumers are left out of pocket.
Revolut seeking UK banking licence before year end
The neobank currently only has one banking licence in Lithuania.
FCA to review data and analytics in wholesale financial markets
UK watchdog calls for input on market use of advanced analytics.
China leads the way in adoption of ISO 20022 for payments
PBOC published its ISO 20022 migration plan as long ago as 2011.
SIX picks Know Your Customer to support supplier risk calculations
Maintaining due diligence on market participants a high priority for SIX.
Banking Technology March 2020 issue out now
Keep calm and carry on: Where does COVID-19 leave the Chinese fintech market?
HPS to provide QR-based payments system in Saudi Arabia
Payments firm tapped up by Saudi Arabia’s Monetary Authority.
Banks test disaster recovery sites and send staff home amid coronavirus
Senior bank execs are concerned about broadband capacity at their employees’ homes.
Meet Equifax’s data privacy partner since 2018
FinTech Futures speaks to Active Navigation’s chief revenue officer Dean Gonsowski.
Financial regulators address the economic & operational effects of COVID-19
Regulators across the globe issue statements addressing coronavirus precautionary measures.
Nationwide picks AutoRek for reconciliation and data management
AutoRek to help Nationwide “face into the future.”
Starling Bank looks to Irish banking licence for European expansion
The challenger bank has been aiming for an Irish licence since last year.
Broadridge completes FundsLibrary acquisition
Regtech firm to be incorporated into Broadridge FundAssist.
Bank of Japan governor calls for digital currency caution
Masayoshi Amamiya warns central banks not to “jump immediately.”
FCA data leak branded “embarrassment”, former CEO called for review
Regulator’s former CEO Andrew Bailey called out for “tsunami of failure”.
Banking Circle nabs first banking licence from Luxembourg regulators
Banking Circle’s operation centers in the UK, Germany and Denmark will turn into bank branches.
Malaysia’s biggest telco Axiata reveals plans to bag digital banking license
The country’s central bank announced its plans in December to issue up to five licences.
Wells Fargo agrees to pay $3bn fine for fraudulent account furore
US bank agrees to pay hefty settlement fine on ongoing probe.
Sogexia nabs Luxembourg licence, starts migrating 180k UK customers
Neobank mitigates Brexit impact with new EU payment licence.
Central bank of Brazil plans launch of QR-based instant payments system PIX
All banks with more than 500,000 customers will have to use the new system.
Australia’s regulator flags new internal bank stress-testing framework
APRA will consult the industry on the development of the framework in H2 2020.
A look ahead to strong customer authentication
It’s vital that we use the year ahead to invest in long-term consumer testing.
Lloyds profits drop as PPI legacy takes its toll
The bank has eight times more than expected for PPI claims.
EU report omits Big Tech GDPR decision, Google moves UK data to US
UK users’ data stored by Google is no longer under GDPR laws.
Taking chances: An interview with Chuka Ikele, legal counsel at CrossLend
Drawing connections between the correlation of law and finance.
FCA: Innovative fintech entrants putting some customers at risk
UK watchdog warns of customer risk exposure from flashy fintech firms.
Moneybarn hit with £32.8m bill for not helping indebted customers
The firm did not treat customers fairly who had fallen into debt over a three year period.
GCC Capital AB picks BearingPoint for EBA reporting requirements
Swedish lending firm to deploy Abacus360 system on an outsourced basis.
Report: The digital drive to replace the passport in financial services
FinTech Futures publishes its latest industry report, on digital identity and fraud.
European Commission warns eight countries over late AML laws
Countries include Cyprus, the Netherlands, Portugal, and Spain.
