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Sunday, July 3, 2022
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, […]
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 […]
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 […]
If there is one truism about financial crime, it’s that the perpetrators are ever-present and ever-evolving. Just as technology has revolutionized banking and finance, so too has it given criminals more sophisticated tools. Indeed, as financial institutions work to keep pace with exponential technology advances, criminals seem to be pulling […]
PayPal reports that peer-to-peer payments tool Venmo is on a path to profitability. In a fourth-quarter earnings report Wednesday, PayPal CEO Dan Shulman told investors the company is pushing ahead on its Venmo monetization strategy. Key enablers include Pay with Venmo, which allows consumers to use the tool to pay […]
Technology giants from Google to Apple are looking to take on the financial services industry. Last year, Apple debuted its credit card; in 2020, Google is set to launch consumer bank accounts. But Big Tech companies share one thing in common: they don’t want to be regulated like banks. Big […]
Regulated financial institutions need to ensure that they are putting policies and procedures in place to effectively mitigate their exposure to risk. With scrutiny around regulatory compliance increasing, regulated financial institutions need to ensure that they are putting policies and procedures in place to effectively respond to, and mitigate, their […]
A year and a half after the introduction of the EU’s General Data Protection Regulation, Fieldfisher’s James Walsh reviews the fundamentals of supply chain security. Not that long ago, businesses were rushing to put in place contractual terms with their processors to comply with the General Data Protection Regulation’s (GDPR’s) […]
When Facebook CEO Mark Zuckerberg testified before Congress last month, he claimed that Libra as a global currency would solve major problems including banking the unbanked, lowering the costs of international payments and speeding up transactions. However, most politicians in the U.S. and abroad are resisting Facebook’s proposed payment system, calling it […]
What do interest rates and bank regulations have to do with social justice and environmental decay? Potentially, quite a bit. Central banks can and should pay close attention to key issues like income inequality and climate change even if these fall outside their traditional mandates, argues Patrick Honohan, former governor of the Central Bank […]