The FCA annual report is out and it’s not just Brexit under the microscope. As expected, operational resilience continues to be an area of concern, building on the issues raised in their business plan of 2019/2020 in April. It’s clearly an area they feel deserves more attention. And it’s not just the FCA, other regulators have all raised similar such as European Securities and Markets Authority (ESMA), Luxembourg Commission de Surveillance du Secteur Financier (CSSF); and Central Bank of Ireland (CBI).
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With Thales’s new Gemalto Digital ID Wallet, governments will issue a secure digital version of official documents including identity cards, health cards and dri
Positive Technologies has today announced that researchers Leigh-Anne Galloway and Timur Yunusov have discovered flaws that allow hackers to bypass the payment limits on Visa contactless cards. Positive Technologies tested the attack with five major UK banks, successfully bypassing the UK contactless verification limit of £30 on all tested Visa cards, irrespective of the card terminal. The researchers also found that this attack is possible with cards and terminals outside of the UK.
Linedata (Euronext Paris: LIN), a global provider of lending and leasing, and asset management technology, data and services, announced that Copper Street Capital LLP, a leading UK-based global alternative investment firm, selected Linedata’s comprehensive portfolio management and compliance solution, Linedata Global Hedge. Implementing Linedata’s solution empowers Copper Street to capitalize on new business opportunities, through access to real-time data, optimized operations and strategic oversight of its investment process.
Al Ahli Bank of Kuwait has partnered with EdgeVerve Systems, a subsidiary of
Sberbank has personalised the menu of its ATMs. Now, after a client enters their PIN code they will see a main screen that features the options they have used the most in the past, as well as relevant personal offers from the bank.
In particular, the system suggests the amount the client should withdraw based on their past cash withdrawals and even wishes them a happy birthday and offers a present.
This new feature is available on 44,000 Sberbank ATMs. By the end of 2019, it will be available on all of the bank’s self-service devices that have touchscreens.
Bitstamp, Europe’s largest cryptocurrency exchange, and BCB Group, one of the world’s leading global digital asset prime brokers, today announced a new partnership that will enable investors from the UK to transfer GBP directly to and from their Bitstamp accounts.
Through this partnership, Bitstamp will be able to support deposits and withdrawals directly in GBP, providing increased efficiency and reduced costs for clients. The new GBP service will be available to Bitstamp’s customers by the end of the year.
ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced a number of tools and solution updates to ready payment service providers (PSPs), acquirers, issuers and merchants for Strong Customer Authentication (SCA) and exemptions.
The business of transforming risk
Chief Risk Officers in the financial services sector currently have their work cut out to stay on top of complex regulatory change while overseeing the digital transformation of their bank’s risk function. At their fingertips, they have a wealth of knowledge and data resources that they must make best use of in achieving this task, applying data science and smart, AI-driven analytics as well as appropriate governance to help them.
Striking a balance
According to the results of a survey conducted by the European P2P platform Robo.cash, the strategy of P2P investors depends on their mentality, socio-economic and geographic aspects. Thus, the survey revealed that investors from Central Europe tend to make long-term plans - 50% of them invest in P2P lending to prepare for retirement. In the meantime, investors from South European countries are more focused on quick results. Among them, 56% prefer investing in short-term loans compared to 47% of respondents from Central Europe.