FCA warns stock trading apps against gamification
The regulator is “concerned about problem behaviours” linked to trading app design.
Regulation
What the FinTech? | S.3 Episode 17 | What’s next for BNPL?
In this episode of the podcast, we’re joined by Gaurav Sethi, chief product and strategy officer for Citizens Pay.
UBS partners iProov for automated customer biometric ID onboarding
With face verification tech, UBS key4 customers can onboard remotely in five minutes, iProov says.
Railsr taps Featurespace to boost payment fraud and AML protections
Railsr will utilise card and payment fraud prevention and AML solutions through Featurespace’s ARIC hub.
US Treasury outlines fintech consumer protection recommendations
“This report lays out actions that would maintain fair, transparent, and competitive markets,” says Janet Yellen.
Regnology acquires Belgian regtech b.fine
Regnology CEO says they were attracted to the “strong synergies” between the two companies’ offerings.
Research: Tech blockers 2022 – cutting the costs of AML compliance
Opportunities and barriers on the road to wider adoption of effective AML screening technology.
Iceland’s Arion Bank taps Lucinity to boost AML protection
Lucinity says its AML tech helps banks and fintechs increase their compliance productivity by more than 50%.
DFSA fines Bank of Singapore $1.1m citing inadequate AML controls
The regulatory authority also says that the bank acted outside the scope of its DFSA licence.
FinTech Futures: Top five stories of the week – 11 November 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Blockchain intel firm TRM Labs scores $70m expanded Series B
TRM will use the cash to invest in product development and new hires to meet growing demand for its services.
iBanFirst taps Fenergo for client lifecycle management solution
iBanFirst says Fenergo’s tech will allow it to offer “faster and more effective” digital customer onboarding.
Saudi Central Bank debuts new open banking framework
The framework includes legislation, regulatory guidelines and tech standards based on international best practices.
Fintech Galaxy lands TPP licence from Central Bank of Bahrain
The licence allows the firm to integrate its FINX platform with multiple bank APIs.
US OCC to establish office of fintech next year
The OCC says it wishes to “bolster its expertise and ability to adapt to a rapidly changing banking landscape”.
FinTech Futures: Top five stories of the week – 4 November 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FCA kickstarts discussion on Big Tech’s impact on competition
The regulator says Big Tech firms have the potential to change market outcomes quickly.
DFSA introduces new “crypto token regime” to boost digital asset regulation
The DFSA says it is a “progressive regulator” that recognises the growing interest in crypto.
Financial super-app Curve partners Salt Edge for open banking compliance
The partnership will enable the app’s 4m users across Europe to continue to make the most of open banking.
Target Group hires compliance veteran Kathy Griffin as chief risk officer
Griffin joins from UK challenger Monzo, where she held the position of director of compliance.
Danish investment bank Saxo taps Baffle for global data encryption solution
The bank will integrate Baffle’s Data Protection Services platform.
Danske Bank UK appoints Martin Stewart as new board chair
Stewart will replace current chair Gerald Gregory, who will leave the bank after nine years on the board.
Diebold Nixdorf partners Featurespace for real-time fraud prevention tech
Diebold Nixdorf will integrate Featurespace’s ARIC Risk Hub into its Vynamic Payments platform.
HSBC taps Oracle to power digital transformation
HSBC will upgrade and migrate select database systems to Oracle’s Exadata Cloud@Customer platform.
QUBE Events gathers world-leading payments & regtech experts in Cyprus
The 12th NextGen Payments & RegTech Forum is taking place on 2-3 November in Cyprus.
Gatehouse Bank handed £1.5m fine by FCA over “poor” AML checks
Gatehouse Bank agreed to settle early, which led to a 30% reduction to the original penalty of £2.2 million.
Video: ING at Sibos 2022 – Interoperability in trade finance
We chat with Lynn Ng of ING about whether cross-platform interoperability in trade finance is possible.
Crypto-powered banking platform BVNK secures Spanish digital asset registration
BVNK is looking to expand across the European Union and beyond.
Europe fintech funding round-up: Payable, Axyon AI, Cube and HeidiPay
A handy round-up of the recent funding endeavours of fintech companies across Europe.
Orange Bank takes sanctions screening real-time with SAS and Neterium
The AML-CTF platform powered by SAS and Neterium is “a game-changer”, says Orange Bank’s deputy CEO.
Sibos 2022: A problem defined is a problem solved – untangling ESG data
With a range of taxonomies, sources and utilities, ESG data is still some way from being standardised.
La Banque Postale automates regulatory reporting with Regnology
Abacus360 Banking will become the bank’s single platform for the European and French reporting regimes.
Sibos 2022: Breaking finance – how quantum technology will kill secrets
“Quantum, Revisited” with Avast CISO Jaya Baloo and Stacey Jeffrey, a senior quantum researcher at CWI.
OakNorth Bank buys 50% stake in specialist lender ASK Partners
Both firms say the transaction will enable them to continue providing “holistic” funding solutions to customers.
Sibos 2022: How to avoid a digital identity crisis
Bianca Lopes makes the case why banks, FIs and regulators should be paying attention to digital identity.
UAE fintech start-up Mamo receives regulatory approval
Mamo can now provide money services and expand operations without user restrictions.
State Bank of Pakistan stops fintech start-up Tag’s operations
The central bank says it has taken this decision to “protect the interest of the public at large”.
Payment Systems Regulator outlines card-acquiring market remedies
Focusing on 14 providers will ensure “around 95% of transactions for the merchants our remedies will protect will be regulated”.
Sibos 2022: How SmartStream draws wisdom from the noise of data
FinTech Futures chats with Andreas Burner, CIO at SmartStream, about the benefits of AI/ML tech.
Mind the gap: how the Fintech Growth Fund aims to boost the UK fintech scene
The fund is set to raise capital from investors and pump money into UK fintechs looking to scale.
