Insights

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Banks "marooned" by mainstream technology development

5th June 2019

Company: bobsguide
Financial services has found itself cut off from the technological developments of other industries, and an unwillingness to catch up will see it experience further problems, according to a panel at Money 20/20 in Amsterdam. “Banks have found themselves marooned from the main development strand of technology,” said Paul Taylor,... read more
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Tensions rise as CFTC, BoE, and market participants debate CCP supervision

5th June 2019

Company: bobsguide
The role of central banks in the supervision of central counterparties (CCPs) was greatly debated on a panel discussion at the FIA’s IDX in London this week. “It is a great test for a domestic marketplace, or a domestic clearing house when you can ask the question, when is a market regulator alone overseeing a CCP not enough?”... read more
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Emir 2.2 tiering decision not expected before end of year

4th June 2019

Company: bobsguide
A decision on the tiering between systemically important and non-systemically important third country central counterparties (CCPs) is unlikely to come to a conclusion before the end of this year, said Patrice Aguesse, head of the market regulation division at France’s national conduct authority the Autorité des Marchés... read more
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MEPs see failure in derivative rules

4th June 2019

Company: bobsguide
MEP and vice chairperson of the economic and monetary affairs committee at the European Parliament Kay Swinburne urged caution to derivative operators who wish to increase volume because EU policy makers believe rules to move over-the-counter derivatives to the clearing space has failed due to derivatives having grown disproportionately to their... read more
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Banks’ direct investment in fintech competition harming industry

4th June 2019

Company: bobsguide
Banks and financial services firms are harming the industry by attempting to go on a “startup safari” and invest directly in innovative fintech companies to get a competitive advantage, according to Starling Bank CEO and founder, Anne Boden. Speaking on a panel at Money 20/20 in Amsterdam, Boden said new banks and fintechs get emails... read more
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Mastercard’s Wadsworth: Banks need time to fit into Open Banking future

4th June 2019

Company: bobsguide
There will be no instantaneous change when September's final deadline for Europe's second payments directive (PSD2) passes, and the industry can expect an acclimatisation period for many of its large institutions according to Jim Wadsworth, senior vice president of Open Banking at Mastercard. Speaking on the sidelines of... read more
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Citi’s Fenwick: Cost of compliance hitting banking

3rd June 2019

Company: bobsguide
The cost of regulatory compliance for international banks has become too burdensome and has started to impact the market, according to Anthony Fenwick, Citi’s head of AML advisory compliance. “We’re delighted to have all the digital technology that has come out, and this idea of driving down the cost of compliance,” he... read more
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Chinese technology giants to reimagine financial services

3rd June 2019

Company: bobsguide
Chinese technology firms are set to make huge inroads into global fintech markets, according to Melissa Guzy, co-founder and managing director of Arbor Ventures, speaking on a panel at Money 20/20 in Amsterdam this week. “Chinese tech companies are going to southeast Asia, going to old banks running older infrastructure and telling them:... read more
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OakNorth CEO: Defaults and downturn inevitable

3rd June 2019

Company: bobsguide
Small and medium sized enterprise (SME) lenders can expect defaults and losses as they aren’t fully prepared for a downturn, according to OakNorth co-founder Rishi Khosla. “A default is inevitable in the business cycle,” said Khosla, who was speaking at Money 20/20 in Amsterdam. Khosla is adamant that OakNorth will perform... read more
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How bank-based payout services are holding your business back

3rd June 2019

Company: Hyperwallet
Emerging technologies have changed practically every facet of our daily lives. From smartphones to flying drones, the pace of innovation continues to accelerate at almost maddening speeds. But, as is the case with any race, there are those who get left behind. While still functional, legacy technology can often create more problems than solutions;... read more