Poor data management is the key obstacle to banks achieving their ESG goals and complying with increasing regulatory pressure, according to new research by Avanade and Efma

John Wilson, UK Managing Director at Avaloq, comments on an FCA review which found weaknesses in some challenger banks’ financial crime controls:

“Tink's research shows that consumers today expect strong environmental credentials from their financial services providers. Younger generations in particular are embracing open banking powered services that give them greater control over their environmental footprint. Many are even willing to switch providers to seek out greener options.

"Financial services providers without sustainability offerings run the risk of losing business, by failing to meet the expectations of a new generation of climate-conscious consumers.

New Solutions Advance Planning, Tracking, and Reporting of Critical ESG Data for Evolving Standards

New Solutions Advance Planning, Tracking, and Reporting of Critical ESG Data for Evolving Standards

After four successful Baltic fintech accelerators, Startup Wise Guys is expanding operations to Romania, while continuing its collaboration with the European Bank for Reconstruction and Development (EBRD) through EBRD’s TaiwanBusiness – EBRD Technical Cooperation fund.

“Wage growth is struggling to keep up with the cost of living crisis, meaning that despite pay rises, Brits are still left with less money in their pocket. Following today’s ONS figures announcement, it is more evident than ever the impact this is having on the nation. 

“The upside is that while inflation might rise further, we’ve reached a peak with the rising cost of living. In economic terms we’re nearing the end of the cycle. The cost of living will go down before increasing again, giving Brits some respite from heightened costs. 

A recent review conducted by the Financial Conduct Authority (FCA), and published online today, has found that some challenger banks have significant weaknesses within their financial crime controls, and need to improve how they assess financial crime risk.

F10 Secures Funding Round and Management Buy-in to Fuel Global Growth