International regulators investigating tech firms’ cloud dominance
Financial Stability Board casts a wary glance at cloud giants
Regulation
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Banks must improve cyber risk culture, says MAS panel
Singaporean regulator’s experts call out bank culture.
Regulators could delay Facebook’s Libra launch, says executive
Libra’s MD says regulators must be “fully onboard” first.
UK Finance launches cash initiative, calls for bigtech collaboration
It’s “vital” that telecoms, retailors and infrastructure providers take part.
FCA fines Prudential £23.8m for misselling retirement products
Thousands of customers will receive £6,380.51 each
SEC introduces new rule to boost ETF competition
US regulator hopes to break open a market dominated by large players.
German government aims to correct MiFID II “excesses”
Federal Ministry of Finance is keen to kick off revisions before Spring 2020.
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.
Danish fintechs partner to set new standards for accounting industry
Businesses can see transactions in seconds rather than days.
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.
Australia orders audit of PayPal’s reporting compliance
The company reported itself following an internal review.
Sibos 2019: Cultural barriers need to fall to make cybersecurity more transparent
Banks need to go beyond ISO requirements, says Cramer.
Sibos 2019: SEB launches new environment-friendly product for Nordic SMBs
Th trend is shifting from last year’s focus on renewable energy.
BNG Bank heads to the cloud with Wolters Kluwer OneSumX
Dutch bank believes Wolters Kluwer was the “natural choice”.
Sibos 2019: Banks must improve data handling to root out financial crime
Applying AI needs to be done when data is set right, says panel
Sibos 2019: “Blockchain is not a magic wand,” says Euroclear
The panel agrees blockchain is not a ‘one size fits all’ solution.
Sibos 2019: “Digital transformation will happen quicker in LatAm than Europe”
McKinsey predicts “the spike” will hit soon.
Sibos 2019: Banks should stop waiting for political uncertainty to end, it won’t
Banks need to adapt to a permanently unstable status in politics.
National Bank of Canada chooses CGI’s All Payments platform
The bank is modernising its payments ecosystem.
FICO fights financial crime with Falcon X
A unified environment for the detection and investigation of both fraud and financial crimes.
Sibos 2019: Interconnection will mean more flash crashes in FX
“You ain’t seen nothing yet,” says UBS.
Latitude Financial preps $2.5bn IPO
It will be the largest IPO in the country since 2014.
France warns UK to avoid Brexit derivatives clash
AMF wants Britain to guard against potential for arbitrage opportunities.
Cappitech and Kaizen find firms are behind for SFTR implementation
Kaizen describes the figures as “somewhat concerning”.
FCA review finds investor happiness with MiFID II research unbundling
MiFID II is improving asset managers’ accountability over costs.
German blockchain strategy fires warning shot at Facebook’s Libra project
Germany vows to fight any efforts to issue parallel currencies.
CFPB puts Bank of America under fake accounts microscope
The regulator has been investigating BofA since March 2019.
Nationwide invests in digital lettings agency Bunk
The investment will help Nationwide’s campaign to improve the rental market.
LexisNexis Risk Solutions says companies will struggle with upcoming 5MLD
The regulation follows from the Panama Papers leaks and crypto.
Research reveals Belgium issued 95% of AML fines in last four months
Authorities handed down three AML-related fines May, totaling to $336.7 million.
CFPB and state regulators launch US consumer network for fintech
The network will drive competition, consumer access and financial inclusion.
UK fintech PrePay Solutions gets Belgium e-money licence
The licence was secured in a bid to curb Brexit uncertainty.
