September 14, 2024
https://www.pexels.com The use of fintech has grown at a very rapid pace in different fields and has changed the way they perform and complete financial transactions. The legal sector, which has traditionally been considered the slowest to adopt technology, is experiencing a revival of innovation due to the emergence of financial technologies. This has led
September 14, 2024
The area of regulatory compliance is complex and dynamic, presenting an ongoing challenge that is critical to the operational strategies of financial institutions. Ascensionan integrated regulatory lifecycle management platform, recently explored how businesses can ensure they effectively manage their regulatory lifecycle. Every day, businesses face an onslaught of new regulatory content—including topical updates, guidance, speeches,
September 13, 2024
The Reserve Bank of India (RBI) on Thursday released its final guidelines for fintech companies to set up a self-regulatory organisation (SRO) to enforce regulatory norms and promote transparency in the sector. According to the guidelines, OARs must be development-oriented, be genuine representatives and be legitimate arbiters of disputes. An OAR for fintechs (OAR-FT), an
September 11, 2024
Financial regulators In all countries, they have the "delicate" task of finding a balance between regulations and innovationgiven the rapid advances in technology, said Matthew Blake, director of World Economic ForumCenter for Financial and Monetary Systems. Countries in the Asia-Pacific (Apac) region have a more accommodating regime for fintech companies than others, said Blake, a
September 11, 2024
Banks, non-banks and fintechs have just one year to prepare for some of the biggest regulatory upheavals that will fundamentally impact the way they do business. Alex Reddish, Tribe Payments CEO delves into the intricacies of PSD3, PSR and FIDA – regulations set to reshape open banking, data access and security in the financial sector.
September 10, 2024
The Reserve Bank of India has released a draft framework for self-regulatory organisations focused on the fintech sector (SRO-FT). The main idea behind these guidelines is to enable the nascent sector to operate and innovate responsibly, even in the absence of formal regulations. “The SRO-FT is expected to play a crucial role in promoting responsible
September 10, 2024
Regulation and fraud were the dominant topics at the recently concluded Global Fintech Fest (GFF) 2024. For fintech founders, keeping up with regulatory changes and protecting customers from fraud has become a central concern.India’s fintech ecosystem is the third largest in the world, according to the “State of the Fintech Union 2024,” a joint report
September 10, 2024
The financial crime compliance landscape is rapidly changing. Amid political upheaval and technological advances, the cost of compliance has become an integral part of business operations. Traditional systems struggle to keep up with market changes, prompting move to more modern solutions, says RegTech company IA Napier. Neobanks and FinTech companies are at the forefront, adopting
September 9, 2024
Moody's Analytics I recently took a deeper dive into the role AI regulation will play as the technology changes risk and compliance. Artificial intelligence (AI) is poised to revolutionize the fields of compliance and risk management. With laws on the safe application of AI technologies in sight, several companies are proactively developing policies that promote
September 8, 2024
Recent election years have been busy ones in the world of financial regulatory policy, and 2024 promises to be no different. This year could be even busier given the large backlog of proposed rules and the fallout from the regional banking crisis of spring 2023. Regulators will also continue to adapt to evolving innovations in
September 8, 2024
Following last week exciting announcement—a strategic partnership between The FR And Marcel van Oost—we sat down with Marcel to learn more about his journey in fintech, his unique perspective on the fintech space, and why he decided to partner with The FR through its newsletters “Connecting the dots in FinTech”. The following interview has been
September 7, 2024
By Adelia Castelino – Co-Founder and CEO, In-Solutions GlobalIndia financial technology The fintech industry, which is currently the third largest in the world, is expected to generate a significant annual revenue of $70 billion by 2030, according to a recent report by Elevation Capital and McKinsey. In the dynamic world of fintech, where technological progress
