PYMNTS

JUNE 26, 2020

Dombrovskis told the Times he will ask the 27-nation bloc’s markets supervisor to evaluate BaFin’s handling of the one-time rising star German financial technology company. “We We need to clarify what went wrong.”.

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PYMNTS

JULY 15, 2020

The European Securities and Markets Authority (ESMA), the European Union’s (EU) financial watchdog, plans to examine how German regulators handled oversight of Wirecard AG , the collapsed payments company that is facing a series of criminal allegations. It reported nearly $4 billion of debt to creditors, after it revealed that $2.1

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PYMNTS

NOVEMBER 10, 2020

The announcement did not specify the regulations, but it did note that the approach will ensure that the CBDC meets “the same minimum standards we expect of other payment methods.”. Regulators are slow, and there’s a reason we’re slow,” she said, speaking at CoinDesk ’s Bitcoin for Advisors event. “We

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PYMNTS

JANUARY 26, 2021

When it comes to the Chinese government and its regulators, it’s hard to read the tea leaves. But it is also a major Chinese lender , and that has attracted negative attention from regulators. Problems with regulators hit full force in November when the Shanghai Stock Exchange acted to delay Ant Group’s plan to go public.

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PYMNTS

MARCH 20, 2018

Regulators from around the world are teaming up to create a blueprint for a global FinTech “sandbox.”. According to Reuters , Britain’s Financial Conduct Authority (FCA) announced the plans for a global testing bed for new financial technology apps.

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PYMNTS

DECEMBER 23, 2020

That arm of the financial technology (FinTech) giant offers a virtual credit card. Chinese regulators are looking to strengthen the rules for FinTechs. The Chinese government’s action took place after a falling out between regulators and Alibaba billionaire Jack Ma. The company did not elaborate.

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Chris Skinner

MAY 12, 2017

He is also one of the Top 5 most influential people on BankInfoSecurity’s list of information security leaders, as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal. Regulators are also working with startups, which is what the regulatory sandboxes are all about.

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Bank Innovation

DECEMBER 24, 2019

Financial technology startups will enter the next decade with a little more street cred than the last time around. Nearly 60 upstarts focusing on financial services — from Stripe Inc. to Chime Inc. to Plaid Inc. — have garnered valuations of more than $1 billion in recent years, according to CB Insights.

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Perficient

JULY 12, 2023

Perficient provides risk management to more than 500 financial services organizations, many of whom have multiple bank regulators. Often an organization will have a state-charted non-member bank, which has the FDIC as its primary federal regulator. The complete 60+ page guidance is available to readers here.

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PYMNTS

SEPTEMBER 14, 2016

Pivoting from concerns and risks around financial technology innovation in the banking system, the U.S. Comptroller of the Currency said the agency will roll out a new framework for regulating marketplace lending. The agency regulates, supervises and charters national banks and is an independent bureau within the Treasury.

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Chris Skinner

MARCH 19, 2018

I had a chat with The Financial Times the other day, and provided lots of background as to why I don’t think cryptocurrencies are the choice of criminals.

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American Banker

JANUARY 3, 2023

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PYMNTS

JUNE 29, 2020

Valdis Dombrovskis , the EU’s executive vice president of the European Commission for an Economy that Works for People, told attendees of the Digital Finance Outreach 2020 , a series of events for the 27-nation bloc on financial technology companies, that Europe must become the leader in crafting rules for digital finance.

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Chris Skinner

MAY 17, 2016

Things we’re reading today include … Financial technology start-ups need power of the EU behind them Costs of overdrafts to fall as part of UK banks overhaul Big Four banks benefit from regulator’s featherlight approach Lloyds shares yield £130m for Treasury Chinese bank buys London gold vault Lending Club shares dive on regulatory (..)

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Accenture: Banking

MARCH 30, 2016

I still hear a lot of rationalizations for why financial technology (fintech) won’t fundamentally change the banking industry. They range from “it’s all hype and no revenue” to “wait ‘til they get big enough for the regulators to go after. Read more.

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PYMNTS

FEBRUARY 7, 2020

The Strong Customer Authentication (SCA) regulations say a bank has to verify a person’s identity whenever they make a payment that totals 100 euros ($109.45). A digital bank called Bó , started by Royal Bank of Scotland (RBS), has had to issue 6,000 new cards because of the new regulation.

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PYMNTS

MAY 18, 2016

JJ: Regulatory Technology, or RegTech, has emerged as a result of the growing need for businesses to effectively and efficiently stay compliant in the face of increased regulatory protocols. Being actively engaged with our clients, partners, regulators, policymakers and industry leaders and influencers fuel innovation at our company.

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CFPB Monitor

DECEMBER 5, 2019

In this podcast, we are joined by Tom Vartanian, who leads the Financial Regulation & Technology Institute of George Mason University Antonin Scalia Law School, to discuss his proposal for the President and Congress to establish a National Financial Technology Commission. Click here to listen to the podcast.

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PYMNTS

NOVEMBER 27, 2019

It started a FinTech-targeted Innovation Hub this month, saying that the hub should “foster international collaboration among central banks on innovative financial technology.” . The president of the European Union is less on board, saying coins should be regulated, but that he didn’t want to make them.

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Chris Skinner

MAY 10, 2017

Here’s the summary: Financial Technology, more commonly referred to as FinTech, looks set to reshape the financial sector in the coming years and present Hong Kong with both challenges and opportunities. Jurisdictions such as the UK, Singapore, Switzerland and Australia are introducing FinTech-friendly policies and regulations.

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Payments Source

NOVEMBER 13, 2018

Policymakers and industry officials should join forces in creating regulations and standards for cryptocurrencies, artificial intelligence and other innovations before they become more widespread.

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PYMNTS

FEBRUARY 14, 2020

STC Pay, which does financial technology work for both companies and individuals, works with the Saudi Arabian Monetary Agency. The company also recently teamed up with Almoayed Technologies, based in Bahrain, to promote expansion into Africa and more of the Middle East.

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PYMNTS

JULY 24, 2020

Since then, the financial technology (FinTech) company has expanded its portfolio to also offer business banking. Revolut is also backed by Index Ventures, the global venture capital firm with dual headquarters in San Francisco and London, and a half dozen others. In June, Revolut added American Express to its open banking platform.

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PYMNTS

MARCH 23, 2017

The European Commission is hoping to consult with the public concerning the growing market of financial technology as the agency looks to manage policies in the sector. Last year, the commission setup its financial technology task force in response to the effects of digital innovations changing the banking industry.

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PYMNTS

MARCH 6, 2020

Digital payments sent internationally are expected to move past $1 trillion in 2025, but getting to that point will require support from payment providers, regulators and other such firms still building out the necessary infrastructure. Real-time payments are imperative for running successful operations in today’s global ecosystem.

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PYMNTS

JANUARY 6, 2021

Chinese regulators want billionaire Jack Ma to share consumer-credit data collected from his financial technology company Ant Group , which he's largely resisted doing for years, The Wall Street Journal (WSJ) reports.

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PYMNTS

JANUARY 7, 2019

Government Accountability Office (GAO) said that financial regulators should look more closely at the role of non-bank tech companies in the small business (SMB) lending and consumer lending markets. Late last week, the U.S. But they have not provided lenders and banks with specific guidance on using the data in underwriting.

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Perficient

DECEMBER 22, 2023

Looking Forward The OCC maintains a technology-neutral stance and supports continuing efforts by national banks and federal savings associations to explore safe and sound uses of new and emerging financial technology such as AI.

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Payments Source

SEPTEMBER 17, 2020

Ant Group was dealt another blow by more regulations to contain risks in the country’s burgeoning online lending industry as Jack Ma’s financial technology giant prepares for its initial public offering.

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PYMNTS

NOVEMBER 8, 2016

According to the company, Open Banking is an emerging trend in financial technology that uses Open APIs to enable third-party developers to build applications and services around a financial institution. With it, Wipro said it enables greater financial transparency and helps financial institutions create new revenue models.

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PYMNTS

JULY 21, 2020

A panel established to grow the United Kingdom’s (UK) financial technology (FinTech) sector plans a review of the industry to identify opportunities for growth, the government announced Tuesday (July 21). Tech-based solutions in financial services have experienced wide scale adoption in the U.K.,

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PYMNTS

JUNE 9, 2019

Reuters reported Lagarde said that technology companies’ use of big data and AI i ncreases big tech companies’ dominance in the mobile payments market, which could result in policymakers around the world rethinking how they regulate the banking system and how they ensure financial settlements are made safely and securely. “A

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PYMNTS

MARCH 26, 2019

The organization will “provide bank leaders with a high-level platform to establish clear points of contact with senior representatives and thought leaders from the financial technology industry and consumer organizations,” the statement said. The group plans to hold its first meeting on April 1.

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PYMNTS

JANUARY 21, 2021

It all started in November when the Shanghai Stock Exchange acted to delay his Ant Group’s plan to go public, after he met with Chinese regulators. But China’s financial regulators are starting to view it as being more like a bank. Ma had reportedly dropped out of sight after his IPO was scrapped by Chinese regulators.

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PYMNTS

NOVEMBER 3, 2020

3), stock exchanges in Shanghai and Hong Kong have suspended the looming IPO (initial public offering) in Ant Group, citing regulatory changes in the financial services landscape — and summoning executives including controller Jack Ma to meet with Chinese regulators at the China Securities Regulatory Commission.

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PYMNTS

JUNE 29, 2020

The report said firms such as Pockit, the London-based financial technology company that offers an alternative to traditional banks, and U Account, the Sheffield, England digital bank, a subsidiary of subprime lender Morses Club PLC that provides finance to poorer clients, are among those hardest hit. authorities.

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PYMNTS

APRIL 23, 2020

Cannabis operations that partnered with Hypur to leverage the company’s financial technology can tap into the digital HypurPay app to access a safer and more convenient payment environment. Hypur serves more than 600 clients throughout the country and has over 25 partnerships with banking and financial institutions.

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