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Financial Regulators Race to the Bottom
Haydn Lightfoot, Senior Director at Synechron Business Consulting, said: “The US treasury secretary has recently published proposals to loosen several regulatory demands and raise thresholds, among other actions, to reduce regulatory obligations on banks in the US.”
“The financial sector is reaching a tipping point over maintaining regulatory standards. Attempts to attract banking business by creating favorable banking conditions is slowly becoming the priority for global financial watchdogs.
“If European regulators require further banking functions to be performed within the EU by banks operating in the region, this could push a soft Brexit relocation strategy into a hard Brexit scenario regardless of what happens in UK parliament.
“As such, UK based financial institutions working on their Brexit relocation scenarios may also want to consider a post March 2019 (phase 2) Brexit relocation plan to reflect future scenarios based on the relative risks of specific banking functions being required to move within EU boundaries to maintain access to EU clients. Whilst banks may want to limit Brexit re-location costs to a minimum, these risks could well influence location decisions for future growth.”
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EXCLUSIVE: “Leaning In and Stepping Up” – Radha Suvarna, Finastra in ‘The Paytech Magazine’
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Pikl Pioneers a New Category of Insurance-Enabled Business Models, Earning it 20% UK Short-Term Rental Market Share
Pikl announced that it has achieved 20% market share in the UK short-term rental market – the first industry in which its insurance-enabled growth solutions have been delivered
Australian Fintech Sector to Be Worth $71 Billion by 2035
Australia's fintech sector currently supports more than 109,200 full-time jobs and revenue could grow to be worth $71 billion within the next decade
Huawei Announces Expansion of Curve Pay Contactless Payments Across Huawei Watch Devices
Consumer technology pioneer Huawei is thrilled to announce the integration of Curve Pay across its wearables portfolio in Europe
Globant and Adyen Establish Global Partnership to Accelerate Merchant Payment Integrations and Time to Revenue
Globant will serve as a strategic integration partner for Adyen, helping clients streamline payment system integrations, and expand their payment capabilities across global markets
At-Bay Launches Post-Cyber Event Hardening Service, Targeting Unresolved Vulnerabilities That Drive Repeat Claims
At-Bay has launched Post-Cyber Event Hardening, a new post-claim service available to eligible policyholders that delivers up to 100 hours of hands-on security remediation
Tide Appoints Bernie Miles as CDTO to Help Tide Accelerate at Scale
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