Category: management

Explore the RegTech Revolution

More than four out of five anti-money laundering and customer onboarding professionals simply use Google

While the growing number of money laundering scandals have confirmed the need to protect businesses against fraud, many analysts simply rely on Google. Having surveyed 156 anti-money laundering (AML) and know your customer (KYC) professionals, RegTech company Arachnys has revealed that 85% used Google for their due diligence or risk investigations. Moreover, 16% even stated…
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24th March 2020 0

Thoughts on the market rout, compliance and working from home

  Having worked in the financial industry for 20 years, I always found it interesting how stock markets have been the proxy for gauging public fear. My first job was working as a trader at a Wall Street firm. The first taste I got about the connection between the markets and panic was during the…
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23rd March 2020 0

FCA issues coronavirus cryptocurrency scam warning

The UK’s Financial Conduct Authority (FCA) has warned investors to avoid coronavirus-related cryptocurrency schemes that may seem too good to be true. Crypto scams are on the rise to exploit investors In a warning published on its website, the regulator says criminals and scammers are trying to take advantage of confusion and market instability in…
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17th March 2020 0

Financial regulators address the economic & operational effects of COVID-19

Financial regulators across the globe have issued statements announcing precautionary measures to address the economic impact of the coronavirus (COVID-19), signalling a growing willingness to intervene. The Bank of Japan (BoJ), European Central Bank (ECB), UK’s Financial Conduct Authority (FCA) and the US Federal Reserve have all announced a range of measures that target the…
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12th March 2020 0

Estonian e-Residency MD: No deal Brexit is no problem thanks to digital identity

Digital residency could nullify the worst-case scenario of a no-deal Brexit for small companies and entrepreneurs, according to Ott Vatter, managing director of Estonia’s e-Residency programme. “E-residency can be a solution for some companies due to the uncertainty,” he tells Finextra Research. While much of the uncertainty around Brexit has lifted in recent months since…
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6th March 2020 0

Sweden is now testing its digital version of cash, the e-krona

The Riksbank, Sweden’s central bank, has announced the launch of a year-long pilot project of its proposed e-krona. The project will use distributed ledger technology inspired by the blockchains that run cryptocurrencies. Cashless in Sweden: Physical cash is headed toward obsolescence in Sweden. Nearly everyone uses a mobile payment application called Swish, and it’s been…
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28th February 2020 0

European Union unsure how to regulate Facebook’s Libra

The EU cannot work out exactly what Libra is according to a memo by European Commission executive vice-president, Valdis Dombrovskis. Dombrovskis refers to the “need to ensure clarity” about what Libra is, but that the information provided by Facebook is not sufficient. Libra is described as a “moving target” that does not easily within existing…
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26th February 2020 0

Lithuania’s fintech sector now fastest growing in EU

Lithuania is home to the fastest-growing fintech sector in the European Union, and the second-fastest growing in Europe, behind only the UK. A study carried out by Invest Lithuania and Rockit Vilnius, which looked at the state of fintech in 2019, reveals an impressive 24 per cent increase in the number of Lithuanian companies operating in…
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20th February 2020 0

Why 67% of companies fear they can’t sustain privacy compliance

True privacy depends on where and how data travels. Data privacy management and protocol got a facelift with the enactments of the General Data Protection Regulation and the California Consumer Privacy Act. Many companies failed to meet compliance standards in time for GDPR. And for companies that met the deadline, 67% fear they won’t be able to…
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17th February 2020 0

Red Deer teams up with Cappitech to improve MiFID II compliance

Research platform Red Deer has teamed up with Cappitech, a regulatory reporting and intelligence solution for financial services has formed a partnership to improve MiFID II and MAR compliance. As part of the deal, the company will offer the other’s services to its respective clients, providing an integrated solution which helps manage regulation. Red Deer’s…
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6th February 2020 0