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Monetary Authority Of Singapore: What It Will Take To Win Digital Banking Licenses

PYMNTS

Other regulators in Australia, India and Singapore are examining financial innovation rules of their own, using GDPR and PSD2 as guidelines. Around The Data Protection And Security World. The regulation is now slated to roll out in July 2020, rather than the February 2020 deadline previously proposed.

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Deep Dive: How FIs, Customers Are Navigating The Coronavirus-Inspired Spike In Digital Banking Demand

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Banks must now consider how to best expand remote services and emphasize these channels once consumers can safely visit branches again. This month’s Deep Dive examines how consumers are approaching digital banking and how FIs are leveraging online and mobile channels to prevent service gaps during the pandemic.

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Compliance In The Clouds: How The Pandemic Is Affecting Banks' Cloud-Native Futures

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Banks in the EU have been racing to comply with the General Data Protection Regulation ( GDPR ) and the revised Payment Services Directive ( PSD2 ) since both measures were enacted in 2018. He explained that the cloud can help FIs swiftly respond to compliance and security challenges during the pandemic. Security Takes Center Stage.

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Innovating The ATM Beyond Cash

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The ATM has emerged as one of CUs’ most important tools in this member engagement effort, in fact, with many investing in digitally-enabled ATM kiosks that provide members with on-demand videoconference consultations and a full range of digital banking services. Deep Dive: Offering An End-To-End Customer Experience Through ATMs.

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APIs May Be The Key To Singapore’s Open Banking Future

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Banking is no longer just for traditional FIs, thanks to open banking’s spread. Digital banking development is poised to explode in Singapore, where legacy institutions have traditionally dominated. APIs are critical, as they enable further digital banking connectivity.

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Report: Helping Online Merchants Comply With The Middle East’s New Payments Regs

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The ongoing pandemic has caused many regulators in the MENA region to examine the digital and open banking infrastructure they have in place. The aim of doing so is to create a more robust framework for digital banking. The country’s Data Protection Law was announced in 2019 and officially came into effect in July 2020.

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Deep Dive: How Banks Are Innovating AML Strategies In The Face of Global Fraud

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Part of the problem is that money laundering controls are easier for fraudsters to anticipate than security measures for other cybercrimes. If a bank flags transactions over a certain limit, for example, a bad actor can easily avoid making transactions that surpass it. security standards from those in markets like Europe.

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