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Friday, April 26, 2019
As the concept of fintech has come to symbolize the growing importance of technology in the financial sector, innovations are continuously being developed around the globe. Financial technology, often called fintech, now covers a wide range of technological innovations in the financial sector affecting virtually every industry that can be […]
Advances in digital technology are challenging our concept of privacy. In today’s world, huge volumes of data are being collected, shared and stored in unprecedented ways and at tremendous speeds. Everything we do with our connected devices generates data that can be used or misused without our knowledge. Controlling when […]
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’ […]
New blockchain-based financial networks like the one launched by IBM last week will enable faster and more transparent cross-border payments and eventually become the platform for retail and other consumer transactions. As more blockchain-based payment networks and fiat-backed digital currencies – including one from the largest U.S. bank – emerge, […]
Regulatory compliance is a time and resource-consuming burden for every financial institution – since the global financial crisis, regulatory requirements have increased exponentially. Regulators are increasingly demanding more detailed information, and firms now have to demonstrate greater levels of responsiveness, accuracy and monitoring of their data, transactions, governance and policies. […]
Swiss lawmakers have recently voted to include cryptocurrencies in an adapted form of the country’s existing financial regulations. The vote was introduced by lawmakers who are concerned about the illicit use of anonymous cryptocurrencies, which could change the regulatory landscape for digital assets in Switzerland’s ‘crypto valley’. Switzerland’s Recent Vote […]
Threat detection investment, security aligning to business goals and passwordless authentication are among the top trends in security and risk management, according to Gartner Security and risk management are two of business’ biggest considerations in today’s increasingly volatile cyber security landscape — failings in this arena will lead to potentially […]
“For companies, regulatory compliance does not mean just checking a box to keep the dogs at bay. It can mean achieving performance benchmarks that move the company forward,” says Ronald Lear, the CMMI Institute’s Director of IP Development. Organisations of all sizes are coming to grips with an increasingly troubling […]
European Union banks will face higher hurdles in dealing with clients from countries including Saudi Arabia as the bloc moves to tighten controls on illicit financial flows. Panama and the U.S. Virgin Islands will also be put alongside Iran and North Korea on a new EU roll call of 23 […]
I predict we’ll look back on 2019 as the breakthrough year when the U.S. financial agencies moved, each and all, to begin the digital modernization of regulation and compliance. Regulatory change is slow by nature — by design, really, because getting things wrong can do so much damage. It’s also […]
