The European Commission (EC) and ESMA have agreed on an improved process to draft the Level 2 texts for MiFID II. On the back of those discussions, ESMA asked for a 3-month extension on their own deadline to submit draft technical standards and the EC granted it. While the next Level 2 drafts will now not be published until September 2015, the benefit is that further changes are less likely.

This morning I read with interest a colleague’s blog post on the delay to the publication of the ESMA technical standards from July back to September. Whilst I appreciate that these things are complicated, it seems hard to understand how this won’t delay the implementation date without potentially increasing the very risks the regulations are trying to prevent. Building software and systems properly isn’t just a question of resource; it’s just as much about process.

Capco, the global business and technology consultancy dedicated solely to the financial services industry, today announced its expansion into Singapore with the launch of a new office to meet growing regional demand. The Singapore operation will be led by recently appointed Capco Partners Bao-Viet Lê and Charles Bokman. Mr. Bokman takes responsibility for wealth management consulting, while Mr. Lê will lead the banking practice in Singapore.

investUP (known as UP), the crowdfunding supermarket, has appointed Cary Depel as its Compliance and Legal Director. Cary will bring more than 20 years’ experience with him and will be responsible for compliance and legal, helping to transform the crowdfunding landscape.

FIS™ (NYSE: FIS), a global leader in banking and payments technology as well as consulting and outsourcing solutions, continues to garner recognition for the quality of its technology solutions and the strength of service it provides financial institutions.

SWIFT held its annual Business Forum London on 23 April 2015, where more than 1,100 industry leaders gathered to discuss the latest trends and innovations in financial services. The theme of this year’s forum was ‘Harnessing change in financial services’, and the programme explored how the industry can channel innovation to address challenges such as regulation, the technology revolution, new entrants and changing customer behaviour.

Temenos (SIX: TEMN), the market leading provider of mission-critical solutions to the financial services industry, today announces that Euro Pacific Bank Ltd, has selected T24, Temenos’ core banking platform and anti-money laundering solutions, to be delivered via the Microsoft Azure cloud.

With this move the bank gains access to a highly scalable and automated platform to support its rapid growth.

Denmark has moved one step closer to becoming the world's first cashless society, as the government proposes scrapping the obligation for retailers to accept cash as payment. How quickly will other countries such as the UK begin to follow suit?

Data from Worldpay, the UK’s leading payments processor, reflects a significant shift in the way British consumers are paying for goods, with High Street credit and debit card transactions rising just over 6% in 2014, following similar gains the previous year.

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that it was named a leader in both the IDC MarketScape: North American Mobile Banking Software Solutions Vendor Assessment (March 2015) and the IDC MarketScape: North American Mobile Banking Payments Software Vendor Assessment (April 2015). Fiserv was recognized due to its broad range of implementations, focus on mobile payments and money movement platforms, and high overall satisfaction levels from references.

Xendpay, the world’s first free money transfer service, has today launched a tailored Nepalese Rupee pay-out option to help friends and families all over the world transfer money to loved ones affected by the recent earthquakes in Nepal.