Libor’s demise set to rock the foundations of finance?
With greater protection comes considerable challenges and risks, none more so than with Libor.
Regulation
CSConnect 2019: Lloyds head says tech firms don’t get enough heat for banking app glitches
Lloyds head: “We’re either in this together or we’re not”.
How is AI augmenting compliance practices?
SAS are seeing early AI entries in the Regtech space.
Standard Chartered taps Quantexa to boost AML controls
Dynamic entity resolution and network analytics to be implemented at the bank.
FCA exposed for ‘shameful’ behaviour at its London HQ
Behaviors include defecating on the toilet floors and verbally abusing outsourced staff.
AFME calls for supervisory convergence on the regulation of crypto-assets
Europe’s AFME lists five recommendations.
Open Banking Expo 2019: Vested interests preventing international adoption
Industry panel discusses the reaction other markets have had to the UK’s Open Banking initiative.
Investment firm Castle Trust to become UK challenger bank
The firm calls it the “natural next step”.
Hungary’s National Bank fintech strategy combats digitisation lag
The national bank has drawn up its own fintech guidelines “to speed things up”.
Tencent plans blockchain-based virtual bank on back of new Hong Kong licence
Chinese conglomerate nabs its second licence from regulators.
ING invests in regtech Ascent
The Dutch bank backs AI-driven regulatory compliance solutions.
Fintech Talents 2019: Bank leaders still struggling with digital transformation
Responsibility is on both sides to ensure bank execs understand the benefits, argues Locsin.
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.
Digital banking 2019: top opportunities and cornerstones in IT product development
People want nothing but financial flexibility and convenience when it comes to money management.
Swift and EBA Clearing kick off ISO 20022 migration for EURO1
Swift has provided the messaging layer for EURO1 since 1999.
Poll reveals US falling behind in faster payments adoption
A lack of interoperability is cited as the main reason for slow progress.
ISDA Technology Forum: Regulators struggling to match pace of innovation
Close alignment between policymakers and banks is needed.
ISDA Technology Forum: Small tech changes not enough for capital markets
Firms need to look beyond next year’s profits and losses, argues panel.
The case for a united financial marketplace
Can technology streamline the search for liquidity, the search for insight, and the search for capital?
PRA warns insurers over work culture
Staff must feel able to speak up about their concerns.
City National Bank of New Jersey shut down by OCC
Three US banks have been closed in two weeks by regulators.
Desjardins Group data breach affected all 4.2 million members
Internal leak forced change in government policy.
Central Bank of UAE plans new fintech office to power innovation
Governor Mubarak Rashid Al Mansouri says central bank has a “five pillar” approach.
UK Treasury makes paying back consumers victim to APP fraud ‘compulsory’ for banks
The phrase ‘gross negligence’ will also be defined.
Facebook target of financial services discrimination lawsuit
Facebook accused of allowing older and female users to be ignored by ads.
European regulators conform to EIOPA’s post-Brexit insurance recommendations
NCAs prepared to ensure a smooth transition for UK insurers after Brexit
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.
The dawn of T+3 minutes liquidity management
Help is at hand for intraday liquidity.
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.
EBA charges European Commission with cross-border services mission
A new report calls on the EC to help to smooth challenges facing cross-border business.
SME lender Lidya aims for top spot in Nigeria, next stop Eastern Europe
Lidya expanded to Central Eastern Europe (CEE) earlier this month.
Regulation and competition driving lending transformation
The key to success is a solution that provides effective data management.
UK Treasury Committee: Regulators must punish banks for IT failures
UK regulators “must have teeth and be seen to have teeth”.
Payment fraud in sights of UK cybersecurity force
The NCSC claims Operation Haulster is helping banks proactively prevent fraud.
OneSpan director: Banks need to implement AI’s full potential
Banks still have siloed data pools which can’t quite be pulled.
US regulators sign up to Global Financial Innovation Network
The CFTC, FDIC, OCC and SEC are all on board.
European Commission urged to clamp down on money laundering
A new document is ready to put new AML controls in place.
Temenos picked by Danish challenger Lunar to fight financial crime
Temenos says it was chosen to “address stringent regulatory demands”.
