20 Mar 2017
Implementing PSD II presents a monumental task for banks - the breadth and scale of which is only just becoming apparent. Not only are you required to embark on a significant API (application programming interface) build, change the way you authenticate customers online and reconsider your fraud and payments processes, but there are a vast number of other organisational considerations to be factored in. We estimate 80% of your organisation will be impacted.
17 Mar 2017
The FCA is working with the Money and Mental Health Policy Institute to achieve real change by bringing together financial services and technology organisations, encouraging the industry to come up with practical innovative solutions that address the challenges faced by people with mental health problems when managing their personal finances.
16 Mar 2017
On February 3rd 2017, Donald Trump signed an executive order to review the Dodd-Frank Act (“DFA”), with the goal of repealing aspects of the regulation implemented following the 2008 financial crisis. Trump has asked Treasury Secretary Steven Mnuchin to perform an audit and submit recommendations for repeal or reform.
14 Mar 2017
The new Financial Reporting Council (FRC) Client Asset Assurance Standard presents Auditors and CASS firms with further challenges, as the task of documenting CASS compliance continues to balloon at an ever increasing rate.
03 Mar 2017
Where has Open Banking come from?
Open Banking has been born from a number of influences. Following the Fingleton Report, commissioned by HM Treasury in 2014 and later, the findings of the Open Banking Working Group in 2016, the UK's Competition and Markets Authority (CMA) issued its set of ‘remedies’ for the banking industry to encourage competition in the market. This set of remedies included a requirement for banks to introduce APIs into their ecosystems to open up the wealth of data that they hold. These have all contributed to the UK vision for Open Banking.