Insights

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Singapore agreement offers opportunity for Cambodian retail banking market

12th April 2019

Company: bobsguide
A fintech agreement between Cambodia and Singapore authorities provides an opportunity for the former’s underbanked and underbanked population, according to lawyers, while the vice president of both Cambodia and Singapore’s fintech associations says lessons can be learned from both central banks’ implementations of blockchain. ... read more
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CFPB's fintech regulatory sandbox “completely overreaching”

11th April 2019

Company: bobsguide
The US Consumer Financial Protection Bureau (CFPB)’s proposed federal fintech sandbox and relaxed regulatory regime has met criticism from state attorneys, while some in the alternative finance space have called the measures “completely overreaching”. 22 state attorneys filed a letter in February urging the CFPB to reconsider... read more
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EU's CACM driving NEMO movement from power exchanges

11th April 2019

Company: bobsguide
Nord Pool’s splitting of its market coupling operator (MCO) operations from its power exchange business could be the first indication of a wider movement by nominated electricity market operators (NEMOs) in reaction to the EU’s Network Guidelines on Capacity Allocation and Congestion Management (CACM), according to a source close to the... read more
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Research finds in-house banking apps easier to hack

11th April 2019

Company: bobsguide
New research released this week has revealed that banking applications developed in-house are more vulnerable than those produced by third-party vendors. Some 81% of banks across the world are embarking on technology transformation programmes in order to keep costs low and bring out application functionality at the pace dictated by consumer... read more
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Wealth management gains from AI developments

11th April 2019

Company: Profile Software
Artificial intelligence is set to transform businesses in ways we’ve not seen since the industrial revolution. The digital era is evolving in the wealth management sector, leading to a dynamic increase of AI and robo-advisory tools. 25% of 600 banking professionals, surveyed by MoneyLIVE and presented at FStech, said they... read more
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US real-time payments are headed to ubiquity. Are banks ready?

10th April 2019

Company: Finastra
In 2017, the US joined the global move towards real-time payments (RTPs) with The Clearing House’s launch of the RTP system. Rapid take-up since then among the largest banks means the system now covers almost half of the total demand deposit accounts in the US. However, volumes remain low and many banks are still not connected. So,... read more
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Banks bite back over resolution frameworks

10th April 2019

Company: bobsguide
Recent comments made by Single Resolution Board (SRB) chair Elke Konig suggest opposition from banks on resolution frameworks, says Giles Edwards, senior director of financial service ratings at S&P Global Ratings. “There has been push back from the banks initially to say, ‘look you need to be clear about what you... read more
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China attempts to stem corruption and capital outflows with crypto mining ban

10th April 2019

Company: bobsguide
The Chinese government has proposed a ban on cryptocurrency mining in a bid to tackle corruption and stem capital outflows prevalent in the market, believe market participants.   “Because of rampant corruption, local authorities can make deals with miners, often without the knowledge of the central government,” said Erik... read more
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Banks become target for growing cybercrime syndicates

9th April 2019

Company: bobsguide
Internal audits and endpoint security systems won’t protect banks against increasingly dangerous and numerous cyber terrorists, say security experts. “These international crime syndicates operate in the same way any business does,” said Caroline Paddle, director at Skybox Security, in an email. “Ultimately, they want to... read more
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Conglomerates still struggling with commodity position calculations

9th April 2019

Company: bobsguide
A number of large conglomerates with exposures in European commodity derivatives are still relying on manual processes such as Excel to collate data and comply with the second Markets in Financial Instruments Directive (Mifid II), according to lawyers. “Some of our clients have had to do it manually, so they’ve had to allocate people... read more