Author: RegTech Expo

Explore the RegTech Revolution

RBS sets £100 million aside to cover Brexit uncertainty

LONDON (Reuters) – Royal Bank of Scotland (RBS.L) has set an extra 100 million pounds aside to account for possible bad loans as a result of Brexit uncertainty, in the first concrete sign this is clouding the outlook of a big British bank. The provision means RBS is concerned that its customers might become less…
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28th October 2018 0

The Clean Slate approach to Banking

Both in life and in banking technology, few have the luxury to start over with a clean slate. Banks usually have to build upon the investments (and mistakes) of prior years. Banks built their entire business eco‑system around core banking solutions and technology that were designed, developed, and enhanced over the last 3 decades. These…
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26th October 2018 0

Bad news for fraudsters as bank account name checks finally come in

From July next year if the name doesn’t match with the account and sort code the payment won’t go through. It’s taken too long to get to this point With a little luck 2019 will not be a happy new year for fraudsters. Pay UK, which maintains the UK’s payments systems, today unveiled plans that will…
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25th October 2018 0

Amphora announces certified native integration with CubeLogic

Enables Symphony CTRM users to seamlessly leverage the market leading KYC onboarding, business process management and credit risk management capabilities of the RiskCubed platform   Wednesday 24th October 2018 – Houston and London. Amphora, a leading vendor of multi‑commodity trading and risk management solutions to streamline operations, reduce transaction costs and manage financial and physical…
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24th October 2018 0

DLT can help banks boost regulatory compliance – Euro Banking Association

Distributed ledger technology has huge potential to improve regulatory compliance processes, according to a report from the Euro Banking Association. Cryptotechnology-based regtech answers could be particularly attractive for KYC data management, says the EBA report, because current processes are often fragmented and redundant, leaving financial institutions with higher costs and dissatisfied customers. José Vicente, chair,…
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23rd October 2018 0

Six-fold increase in RegTech spending forecast by 2023

Regulatory technology investment is set to explode over the next few years, with spending forecast to jump six-fold by 2023 as firms encounter a growing number of compliancy challenges. That is according to a new report from Juniper Research, which predicts that spending on RegTech platforms will increase from an estimated $18bn (£14bn) this year…
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22nd October 2018 0

UK heading to CASHLESS future ‘SOONER than we think’ – but consequences could be DIRE

BRITAIN could be heading towards a cashless future “sooner than we think” as debit cards continue to overtake physical money as our main payment method. The number of people using notes and coins has more than halved compared to figures from 20 years ago, according to This is Money, with forecasts predicting just one in…
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19th October 2018 0

Bank of England raises alarm over surge in high-risk lending

Central bank draws parallels to 2008 financial crisis in warning about leveraged loans. The Bank of England has issued a stark warning over the rapid growth in lending to indebted companies around the world, drawing parallels with the US sub-prime mortgage market that triggered the 2008 financial crisis. Threadneedle Street said Britain was not immune…
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18th October 2018 0

Ripple to launch payment service, XRP price surges 74%

Ripple has major institutions and companies — including MoneyGram, Western Union, Mercury FX and Cambridge Global Payments — testing xRapid, which could use the XRP token. The price of XRP, the cryptocurrency associated with Ripple — a company that uses blockchain for providing financial services — has spiked by almost 74 percent in four days.…
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16th October 2018 0

Report examines venture capital-backed endeavors

National Venture Capital Association (NVCA) officials maintain third quarter investment in venture capital-backed companies topped $27.8 billion, adding 2018 could be a record year for most venture capital investments. The projection stems from the PitchBook-NVCA Venture Monitor, the authoritative quarterly report on venture capital activity in the entrepreneurial ecosystem jointly produced by PitchBook and the…
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15th October 2018 0