FinTechNI, a collaboration between stakeholders in the local FinTech community to spearhead, publicise and promote Northern Ireland as a major FinTech hub, today announced it will host an evening with US-based financial services veteran, Bo Brustkern, on Thursday 13th June 2019, at Catalyst Belfast FinTech Hub.
Last month Standard Chartered bank agreed to pay a $1.1 billion for both Anti-Money Laundering and Sanctions violations. This blog is an overview of the bank’s failures in relation to both cross-border violations and what they mean for firms.
Better customer service, cleaner user interfaces, simpler language, spending insights and even gambling blocks…digital banks or ‘challenger banks’ as they are commonly referred to, have taken the UK banking market by storm and with features like these, no wonder they are signing up thousands of new customers every day. However, as the large incumbents awaken from their slumber, are they starting to realise they must fight back no matter how much they make light of these new players?
Jamie Cooke, Managing Director of fscom, gives his opinion...
Whether you call them cryptocurrencies, cryptoassets or virtual assets, these tokens and their underlying technology, Distributed Ledger Technology (DLT), remain at the forefront of regulators thoughts, often operating in an unregulated or semi-regulated world which sits somewhere between a land of opportunity and the wild wild west.
For some, Brexit may still seem like something out of a fairy tale but, whether you are for or against, it will become a reality next March 2019.
In a previous blog post, I took a look at the upcoming access changes to the UK’s RTGS system (the Clearing House Automated Payment System) and, in the blog post before that, the UK’s new payment architecture. In the latter, you might remember, we touched on the consolidation of three separate payment service operators (PSOs) – Bacs, Faster Payments Service and the Cheque & Credit Clearing Company – under a New Payments Service Operator (NPSO).
Drawing on my experience of heading up the Payment Services Authorisations Team at the FCA for many years, I spoke last week (http://blog.fscom.co.uk/psd2-a-glimpse-inside-the-regulator) about the FCA’s expectations for authorisations and re-authorisations, and offered some insight into how they might approach the challenges brought about by PSD2. I now explore the risks inherent in firms wishing to ‘upgrade’ their licences, the new entrants under PSD2 and the FCA’s approach to supervision.
We're delighted to welcome Karen Vickers as our new Head of Financial Crime.
In her new role, Karen will be responsible for managing our rapidly growing client base, advising them on how to meet their legal and regulatory obligations in respect of financial crime, including anti-money laundering, sanctions terrorist financing and anti-bribery and corruption.