Regulation Archives - FinTech Futures

Regulation

Cuba’s only telco ETECSA granted payment provider licence

The firm can now convert customers’ balances into electronic money.

Innovate Finance CEO Crosswell steps down

Head of industry body to be replaced by COO Janine Hirt.

France’s central bank warns fintech industry of rules when using term “neobank”

The industry has long called out the interchangeable use of the word “neobank”.

Ikano Bank picks TruNarrative to sit at regulatory centre of digital change

Swedish bank selects UK regtech firm to collate AML programmes.

US retail trade groups ask to join $5.54bn Visa and Mastercard lawsuit

The two bodies want permission to become parties in the lawsuit.

FTC shutters San Fran fintech Beam for not delivering on 7% interest rate

“Don’t lie about your customers’ ability to get their money when they need it.”

Triggers and obstacles to the development of the fintech sector in Poland

A deep dive on the benefits and challenges of the banking and payments landscape in Poland.

Taking charge and reducing charges

A major feature of Open Banking is relatively underused – Payment Initiation Services.

Fintech funding deals globally 22-28 March 2021

Featuring Dataminr, Blockchain, Feedzai, Jumio, and Pie Insurance.

FCA plans whistleblower support with new campaign

UK regulator to provide greater help to those willing to come forward.

Identity fintech Prove acquires research firm Medici Global

“This acquisition allows us to offer expert advisory coverage”.

Luminor Bank selects FIS Ambit Focus for risk management

Estonian bank aims to optimise its liquidity and manage risk.

Former HSBC exec Maguire joins UK regtech Napier

Maguire takes up a position as an advisory board member at the firm.

Jumio raises $150m in private equity investment

Firm lands “largest funding round” of the digital identity space.

Revolut applies for US banking licence days after Canada exit

Revolut’s US operations are led by banking veteran Ron Oliviera.

Gavel

US Department of Justice sets antitrust sights on Visa

Visa’s hold on the debit market in the US under investigation.

London fintech Agitate latest to unveil open banking-powered payments solution

The solution skips the card ecosystem entirely.

Australia consults industry on more “sustainable” challenger bank licence

The APRA’s consultation closes at the end of April.

NatWest’s FCA laundering charge the “first of a few” to come in 2021

The FCA is currently still investigating 6 other cases.

Time to apply 2020 tax lessons

You should have a candid tax planning discussion with your advisors early

Nordea to deploy AxiomSL’s RegCloud for regulatory reporting

Scandinavian bank aims to meet Finrep, Corep, AnaCredit, and SHSG requirements.

NatWest faces FCA money laundering charge over £365m account

The bank will appear before Westminster Magistrates’ Court next month.

Regulating the Brexit deal

In spite of their clear importance, regulators have often met resistance.

Bank of England governor key architect in RBS scandal which left businesses in ruin

Bailey did not disclose his hand in creating the Asset Protection Agency.

Banking Technology March issue out now

Creating communities: celebrating women in fintech this Women’s History Month

Digital payments: why they are here to stay

It is not just individuals who are adapting to the shift.

MoneyGram and Ripple end partnership deal two years early

The two firms wind down their deal amid regulatory issues.

UK’s CMA launches consultation into OBIE successor

The CMA asks firms to send in suggestions before 29 March.

EBA shuts down email systems after damaging cyberattack

EBA affected by global infection of Microsoft Exchange servers.

Video: Top fintech stories this week – 05 March 2021

FinTech Futures’ weekly news round-up.

Budget 2021: The fintech industry reacts

We asked key market participants what they thought of the UK Chancellor’s budget.

Landesbank Saar signs BearingPoint RegTech for SFTR compliance

Franco-German bank to deploy Abacus/Transactions platform.

Budget 2021: What does it mean for UK fintech?

FinTech Futures scrolls through the UK chancellor’s new budget to pick out the fintech impact.

ABA Bank picks Alessa system to meet new AML regulations

Cambodian bank prepares to hit new regulatory targets.

UK Finance plans future revamp for Open Banking body

The OBIE is morphing into a new organisation to support innovation.

Regtech: watching personal mobile devices in financial services, but why?

The best policy is one which works. Soft policies, by their very nature, do not work as intended.

Robinhood pushes on with IPO plans despite facing 49 GameStop lawsuits

Robinhood has held talks with underwriters about filing “within weeks”.

FCA boosts data strategy with new executive hires

Stephanie Cohen, Jessica Rusu, Sarah Pritchard, and Emily Sheppard all join the watchdog.

Photo by Photo by RDSmith4 / CC BY

US Federal Reserve’s payment system down for more than three hours

Both Fedwire and FedDACH went down this week, and remained so for a few hours.

Bank of England governor brands EU relocation wishes a “very serious escalation”

The EU granted the UK temporary equivalence last September for derivatives clearing.

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