Tag: compliance

Explore the RegTech Revolution

Will KYT drive technology innovation in banking compliance?

From KYC to KYT: the need to “know your transaction” Know your customer (KYC) forms the bedrock of financial crimes compliance, from customer identification and acceptance to monitoring customers’ transactions against their recorded profile, expected behaviour and peer group behaviour. So understandably, customer profile creation and risk classification become the starting point of banking compliance.…
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15th May 2019 0

What is Sustainable Finance and how will impact the EU’s new rules impact financial services?

What is sustainable finance and what are the consequences for the existing or future governance framework of financial institutions? While the EU’s fight against climate change through changes to the regulatory structure is in full swing, the financial services industry is only at the beginning of the paradigm shift that will change the way it…
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10th May 2019 0

How Regulated Industries Can Put Their Compliance On Autopilot

Corporate compliance is a hot topic these days. From the General Data Protection Regulation (GDPR)’s the big introduction in the EU last year to the daily headlines about data breaches, we’re constantly reminded of the impact and costs of noncompliance. For example, in 2017, Nissan Co. lost its ISO 9001 certificates on quality management for domestic…
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7th May 2019 0

Mercury Payment Solutions and Arion Bank Select Fiserv Anti-Money Laundering Technology

(NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that a payment scheme in the Middle East and a universal bank in Iceland have chosen Fiserv technology to streamline anti-money laundering (AML) processes and effectively manage fraud risk. Mercury Payment Services and Arion Bank were seeking a provider with proven expertise and join more than 1,200 organizations worldwide that rely…
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2nd May 2019 0

MiFID II Compliance and Transaction Reporting Reviews Featured in FCA 2019/20 Business Plan

The FCA has published its 2019/20 Business Plan. The document features the regulator’s focus of supervisory priorities for this year and next. Included are eight priorities across the seven sectors that the FCA regulates. Not surprising, MiFID II compliance and review of data was included in areas the FCA will be focusing on. Specifically, the…
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26th April 2019 0

Four Major Trends For Compliance Professionals In 2019

Accenture recently issued its annual Compliance Risk Study to gain insight into the different strategies that firms are pursuing to create compliance functions that meet the demands of a rapidly changing financial services industry. Facing regulatory pressure and seeking to regain customers’ trust, financial institutions have spent heavily on compliance in the ten-plus years since…
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23rd April 2019 0

EU Aims To Improve Fintech Coordination

Today the European Commission and the European Supervisory Authorities (ESAs) are launching the European Forum for Innovation Facilitators (EFIF), with the objective to improve cooperation and coordination in support of the application of new technological developments in the EU financial sector. Innovation facilitators usually take the form of ‘innovation hubs’ and ‘regulatory sandboxes’. Innovation hubs…
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11th April 2019 0

Big banks’ clampdown on data puts Silicon Valley apps on alert

Long-simmering tensions between the financial industry and Silicon Valley startups are erupting behind-the-scenes into a battle over the reams of valuable data held inside Americans’ bank accounts Bloomberg File photo by Michael Nagle. The app was quickly becoming a cult favourite among penny-pinching U.S. consumers — and also a bane for their banks. In just…
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9th April 2019 0

CoCoNet revolutionises corporate banking online security with its new MULTIVERSA Token for Mobile and Desktop

Banks have the opportunity to make huge cost savings on their corporate customer authentication services for online banking, thanks to CoCoNet’s new MULTIVERSA Token for Mobile and Desktop. These revolutionary app-based tokens remove any need for banks’ corporate customers to use additional authentication tools when logging in to their online banking platforms. Instead, corporate customers…
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8th April 2019 0

What Can Your Company Do To Attract Top Cybersecurity Talent?

Last year’s cybersecurity scorecard did little to reassure consumers that large companies are serious about security and privacy Massive data leaks hit the news every month against the background buzz of hundreds of smaller breaches that didn’t make the front page. As the first quarter of 2019 comes to a close, it looks like this…
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4th April 2019 0