For any FCA regulated firm, the risk and compliance function is an essential and integral part of the business – but it wasn’t always that way. Martin Kisby, Head of Compliance at Equiniti Credit Services, explores the motivations behind the evolution of compliance functions in consumer credit firms.

The Ofcom Claims Management System will allow real-time claim processing, communication and payments throughout the project.

Equiniti Limited, the multinational technology and payments specialist, is delighted to announce that it has been selected by Ofcom, the UK’s communications regulator, to run the Programme Making and Special Events (PMSE) grant funding scheme. 

Global payments disrupter Paysend, which has the only global card to card money transfer network, has launched another innovative service called PaySendLink.

The new service means that consumers will need just the recipient’s mobile phone number to send money to somebody overseas.

Kamakura Corporation is pleased to announce that RHB Banking Group, (http://www.rhbgroup.com/), the fourth largest fully-in

Mastercard today announced that Donald Chesnut will join the company as its first chief experience officer, effective January 14, 2019.

In this newly created role, he will lead a team that supports the organization’s delivery of the best consumer payment experience, while providing merchants, issuers and other partners a more holistic way to work with Mastercard’s products and services.

Nets, a market leader in the payments industry, has today announced the completion of the acquisition of leading Polish online payment service providers Dotpay/eCard. Andrzej Budzik will continue as CEO of Dotpay/eCard and the brands of Dotpay and eCard will remain. 

• Top bosses earn 133 times more than the average worker 

• Latest CIPD/High Pay Centre analysis finds that the average FTSE 100 CEO is paid £1,020 per hour and £3.926 million a year, an increase of 11% on the previous year

• Excessive pay and the business culture of ‘Superstar’ CEOs is increasingly being recognised as a failure of corporate governance, affecting employee engagement and trust in business leadership

One of the most important trends we’ll see in 2019 is the global adoption of Open Banking, especially in the United Kingdom, the European Union and Asia-Pacific (primarily in Singapore, Hong Kong and Australia). Open Banking allows third-party payment service providers (TPPs) to obtain consumer data from banks about financial history, and to initiate payments directly through bank accounts.

The global securities finance industry generated just under $9.96 billion in revenue for lenders in 2018, according to market data provider DataLend.

It was a record year in terms of revenue generated for investors that lend out securities from their portfolios, referred to as beneficial owners, since DataLend began tracking the market in 2013. Beneficial owners include asset managers, insurance companies, pension funds and other institutional investors. 

The Consumer Financial Protection Bureau (Bureau) today announced a settlement with USAA Federal Savings Bank, a federally chartered savings association headquartered in San Antonio, Texas.