Three new security strategies for financial services
Continuous compliance remains a challenge because many organisations lack contextual data.
Regulation
SWBC picks Finicity Pay to meet new ACH requirements
Account verification needs a boost under new Nacha rules.
Biden reshuffles US financial regulators to reign in corporates
Consumer protection fines against financial corporates have declined under Trump.
Video: Top fintech stories this week – 15 January 2021
FinTech Futures’ weekly news round-up.
2021 predictions: don’t overlook the phone call
Due to the explosion in illegal robocalls, many consumers have simply stopped answering the phone.
Mizuho Americas deploys Fenergo tech for automated client onboarding
Mizuho plans a global rollout of Fenergo systems afterwards.
Six trends that will change the crypto world in 2021
Which coins will rise in price and which ones will fall?
Crypto platforms drop support for XRP amid SEC’s Ripple lawsuit
Some crypto exchanges have delisted it while others have halted, suspended, or disabled trading for XRP.
Jamaican central bank plans electronic payments regulation revamp
Jamaicans sent $4 billion in electronic payments in 2019.
2020 has been the year of change, including EMTs
European MiFID Template (EMT) 1.0 is moving to EMT 3.0.
2020 review: 10 largest regulatory fines this year
The fines kept flowing even in a year as turbulent as 2020.
Banks and bad actors: the race to digitally adapt
Financial services are far from reaching a “new normal”.
Combination of weaknesses led to massive data breach at Desjardins
The incident compromised the data of nearly 9.7 million Canadians.
US state regulator says Robinhood is “aggressively marketing” to novices
The regulator calls out Robinhood’s approach of “gamifying” trading.
Swift calls for collaboration to help build the future of global transactions
Swift’s ambitious new strategy to reinvent global financial transactions.
Fear of enforcement uptick just compliance theatre, says AML panel
“Compliance doesn’t solve financial crime,” says Fenergo’s Rachel Woolley.
Video: Top fintech stories this week – 04 December 2020
FinTech Futures’ weekly news round-up.
CFTC marks 2020 as record year for penalties issued
US regulator issued a record number of notices this year, even as fines remain roughly the same
AI will explain it to you
Explainable AI removes removes the last barrier in entrusting transaction monitoring to algorithms.
Banking Tech Awards 2020 hosted online by Tom Ward
Join comedian Tom Ward for the 2020 Banking Tech Awards. Broadcast online on 10 Dec, 3:30pm GMT and is free to attend.
Report: Digital KYB – a springboard to customer onboarding success
FinTech Futures’ latest in depth industry report on KYB, in partnership with DueDil.
Credit Karma secures $7.1bn Intuit acquisition, sells tax ops to Square
Square enjoyed a 4% jump in stock market value following the announcement.
San Fran alternative lender Oportun applies for banking charter
Oportun currently has licences in 12 states.
E-book: The dawn of end-to-end AML compliance
The components of an end-to-end AML compliance solution and how to put your organisation on the right path.
Blockchain-based lender Figure seeks US bank charter
Figure wants to simplify its regulatory and compliance procedures.
The question of building backdoors into encryption
The battle between tech companies and authorities.
Banking Technology November 2020 issue out now
Without limits: The Barclays accelerator races ahead
US Department of Justice moves to block $5.3bn Visa-Plaid deal
US regulator files lawsuit against Visa, accusing it of monopolistic tactics.
Report: Cloud readiness – banking technology in transition
Cloud-ready SDS IREG enables customers to take the step towards next-generation tax reporting.
Stability of financial institutions during and beyond COVID-19
How should banks provide consumers with what they need and can afford?
Restrictive covenants during COVID-19: are they enforceable?
Can you enforce such clauses in a post-pandemic world – and should you?
FCA and PRA fine Goldman Sachs £96.6m for 1MDB scandal
The investigation found that GSI breached a number of FCA and PRA principles and rules.
Woman-owned de novo Agility Bank gains regulatory green light in Texas
Agility Bank aims to raise $30 million prior to launch in 2021.
Three major US banks make up half of 2020’s $11.39bn fine total
Together, Goldman Sachs, Wells Fargo, and JPMorgan Chase paid $7.85 billion of this total.
Thoma Bravo buys majority stake in risk and reporting firm AxiomSL
AxiomSL’s services cover more than 110 regulators across 55 jurisdictions.
Silent Eight lands $9m to help firms tackle money laundering
The start-up says it has doubled its valuation in just over a year.
Enveil CEO: Fragmented AML regulation creates “Russian doll effect”
Williams likens it to the “Russian doll effect”.
Video: Top fintech stories this week – 16 October 2020
FinTech Futures’ weekly news round-up.
Morgan Stanley fined $60m for improper disposal of personal data
The OCC found examples in 2016 and 2019 of failure to oversee third party companies.
OCC issues $85m penalty to USAA Federal Savings Bank
Military-supporting lender found to have failed risk management.
