Month: October 2019

Explore the RegTech Revolution

Wirecard launches payment app boon Planet

Wirecard has announced the launch boon Planet, a payment app with neo-banking services. Users can manage their entire everyday financial life within the app and will benefit in the future from additional services such as insurance, mobility, and loyalty features, along with additional financial services. With boon Planet, a fully comprehensive digital bank account can…
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31st October 2019 0

Payments Regulation – Restriction or Growth Opportunity?

The platform economy and cryptocurrency spaces are booming global industries. But as a result of regulatory changes, they’re not easy spaces to penetrate. PSD2 was introduced in January 2018, dictating that non-regulated businesses who held customer funds were no longer acting compliantly. Prior to this, businesses had been able to hold funds citing the Commercial…
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29th October 2019 0

National Cyber Security Centre stops over 600 cyber-attacks in the UK across the year

The National Cyber Security Centre (NCSC) has revealed it has protected the UK from more than 600 cyber-attacks in the past year This announcement comes as the NCSC releases its third annual review where it also explains other actions it has taken to protect the public. This includes an initiative to stop hundreds of thousands of people…
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25th October 2019 0

Innovative Technology That Works for Compliance

Most organizations think their compliance training efforts reduce regulatory fines; however, a 2016 survey found only 66 percent of organizations measure the effectiveness of their compliance training. Considering the cost of compliance violations, you would think more organizations would want definitive performance improvement data. So, why not measure? Often, it’s simply a lack of infrastructure.…
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24th October 2019 0

Firms lagging in choosing SFTR systems

A large portion of the market is yet to choose systems for Securities Financing Transactions Regulations (SFTR) compliance due to uneasiness around interpretations of the rules, according to Herve Carrere, director of post-trade product management at Finastra. “We can see that several firms are still in the phase of considering choosing a system, or to…
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23rd October 2019 0

7 Tech Trends to Watch Out for In 2020

This current year has already ushered in a tidal wave of tech innovations, from the rise of social robots and personal assistants to Amazon Prime’s one-day delivery gamble and the proliferation of voice search. The latter alone became a $1.8B retail segment in the US in 2017 and is predicted to rise to around $40B by 2022. Amazon Prime’s…
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22nd October 2019 0

UK Contactless Payments Grow

New data from U.K. Finance shows that contactless payments in the country continue to grow. In fact, almost 50 percent of all debit card payments are contactless. In July of this year, cardholders in the U.K. made 1.5 billion transactions with their debit cards, which is a jump of 8.9 percent from the previous year.…
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18th October 2019 0

GDPR non-compliance worse than feared

Over half of UK businesses do not yet appear to be fully GDPR-compliant, and many have de-prioritised their compliance efforts  As the European Union General Data Protection Regulation (GDPR) legislation nears its 18 month anniversary, research by security software supplier Egress has suggested that 52% of UK businesses are not fully compliant with the rules,…
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17th October 2019 0

Give regulators new powers or risk missing net zero, NIC warns

Regulators must be given new powers to ensure utility firms invest in sustainable infrastructure or the UK’s net-zero emissions target is at risk. In a new report, published today (11 October 2020), the National Infrastructure Commission has warned that ministers must move to strengthen power the country’s utility regulators – Ofgem, Ofwat and Ofcom –…
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15th October 2019 0

Beyond the Horizon

As the number of financial advisors continues to decrease, firms must think creatively to breathe new life and excitement into the financial services profession. As the number of financial advisors continues to decrease year after year due to planned retirements, unforeseen events, or simply the frustration of increased regulation, firms must think creatively to breathe…
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11th October 2019 0