RegulationsRSS

FIs and fintechs set up new industry group, Consumer Financial Data Rights

Consumer rights

Financial services and fintech firms in the US come together to form a new industry group – Consumer Financial Data Rights (CFDR) – “to defend consumers’ access to their data and fuel innovation in fintech”.

AxiomSL adds Raymond James to customer list

Raymond James

AxiomSL, a regulatory reporting and risk management software vendor, has added financial services firm Raymond James to its customer list.

Trade group report offers post-Brexit licensing guidance for fintechs

It'll be hard

With last year’s Brexit decision casting uncertainty on UK-based e-money passporting, the Emerging Payments Association (EPA) has released a new report recommending the best options for UK-licensed fintech and financial services companies in danger of losing their European Union passporting rights following the UK’s exit from the EU.

Deutsche Bank bans texting and messaging apps on work phones

deutsche-bank-logo

No more texting or using messaging apps such as WhatsApp on company issued phones, Deutsche Bank tells its employees. According to a memo issued by COO Kim Hammonds and chief regulatory officer Sylvie Matherat, the functionality will be switched off this quarter.

Fintechs making strides in PSD2

Fintechs making strides

In November last year, German fintech firm figo completed a financing round that totalled €6.8 million. Figo has developed a banking application programming interface (API) and various products and services related to the Payment Services Directive 2 (PSD2). It is just one of the many fintech firms that are poised to grab the considerable opportunities that PSD2 opens.

Europe a pushover for machine takeover

I'll be back...

In another example of glacial bureaucracy, a committee from the European Parliament has written a report which recommends a meeting about robots and artificial intelligence (AI).

Indonesia issues new fintech law for lending firms

Indonesia flag

The financial services authority (Otoritas Jasa Keuangan or OJK) of Indonesia has issued a new law affecting all fintech P2P lending firms in the country. The new law, applicable to all such business units operating in or intending to set-up in Indonesia, is aimed at protecting the consumer. The new law stipulates that such business […]

PSD2: Who wins?

Conor Ogle, Sapient

I was recently asked who the biggest winner would be to emerge post-PSD2, the banks or the fintech firms. If we ignore for a moment that the biggest winners are clearly you and I, the end consumer of these services, it did reveal an interesting thought process and dynamic at play.

Regtech in 2017: the big sweep

2017 is tipped to be a big year for regtech, with many predicting the beginning of fundamental, tech-enabled transformation of the middle and back office. While the excitement around what the coming year holds for regtech is clear, it could be useful to cast our minds back to December when regtech entrepreneurs and representatives of […]

Country spotlight: Lithuania – the young ones

Aerial view of Vilnius, Lithuania

Banking Technology explores a less known – but a noteworthy – destination for fintech in Europe, Lithuania, and its capital Vilnius. Whilst it is realistic that it cannot compete with the European Goliaths such as London or Paris, it wants to carve its own niche in the fintech space, and has quite a lot to offer.

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