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 […]
Capital market
ESMA Issues Statement of De-Facto Postponement of SFTR Go-Live
As the world deals with the Covid-19 virus, SFTR is set to go live with its first phase on April 13th in the EU. However, due to shutdowns across Europe and difficulties preparing for the regulation, banks and industry associations have approached ESMA about postponing the start of SFTR. Today, […]
Cyber, cyber everywhere
Is your cyber strategy everywhere too? Organizations are embedding connected digital technologies in their information technologies, operational technologies, and end products, making cyber a top organizational priority. Innovating fast is now contingent on a well-orchestrated cyber program. IN the 21st century, the connective power of technology is giving rise to […]
Giant Financial Institution, the BBVA, Asks Fintech Firms to Develop Regtech and Finance Solutions via its Open Talent Program
BBVA (Banco Bilbao Vizcaya Argentaria, S.A)., a Spanish multinational financial services company, is making changes to its Open Talent competition for early-stage firms and startups, in order to work cooperatively with Fintech businesses. BBVA is one of the world’s largest financial institutions. It offers services in Spain, South America, North […]
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 […]
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 […]
Deutsche Bank’s latest compliance failures risk post-Brexit ‘passport’: FT
Bank of England officials have voiced concerns that Deutsche Bank is failing to improve its anti-money laundering (AML) and compliance controls and have warned the German lender that it could lose access to the UK market following Brexit, the Financial Times reported Monday. The bank’s latest compliance troubles come four […]
The impact of Brexit on the AML KYC Compliance and trade in the UK
AML/KYC screening is a mandatory part of the compliance operations of businesses. Nowadays every business is liable for some sort of KYC and AML compliance, and heavy non-compliance fines and penalties have left no choice but to invest in compliance. The regulations have changed and are more strict for financial […]
The buy-side is saving compliance and control professionals from the cold
If you work in compliance or regulation in an investment bank, you probably have very good reason to fear the rise of technology. As so-called ‘Reg-tech’ has taken hold, compliance spending is banks’ new target for cost-cutting. It’s fortunate, then, that compliance jobs are still very plentiful on the buy-side. “The buy-side has […]
ZignSec launches new anti-money laundering product as the RegTech company views global markets
The Swedish RegTech company ZignSec has rolled out a new anti-money laundering (AML) product as the Nordics are still dealing with the fallout of a massive banking scandal. The identity verification venture, which went public in 2019, made the announcement at an event hosted by Sthlm Fintech Week on Monday, […]