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IFGS 2024 brought together industry leaders spanning innovators, fintech executives, institutions, regulators, policymakers, startups, and investors for two days of thought-provoking discussions in one venue.
fintech, financial inclusion, Open Banking, Open Finance, payments , regulation, financial data, cryptocurrency
The AFM has raised concerns about minors accessing BNPL services, despite a Code of Conduct by Billink, In3, Klarna, and Riverty to prevent such access.
BNPL, regulation, age verification, payments , financial services
UK-based fintech Navro (formely Paytrix) has secured an Electronic Money Institution licence from the Central Bank of Ireland.
EMI licence, expansion, financial services, payments , fintech
The European Union has reached a provisional deal to improve how national authorities collaborate to combat money laundering.
AML, money laundering, regulation, cryptocurrency
AEON Bank has obtained approval from the Bank Negara Malaysia and the Minister of Finance to launch its digital banking operations in the region of Malaysia.
expansion, digital banking, banking, online banking, mobile banking, financial services, financial institutions
Open Finance Network Canada has submitted a letter to the country’s Finance Minister urging government action towards Open Banking implementation.
Open Banking, Open Finance, financial services, banks
Digital bank GX Bank Berhad (GXBank), led by superapp Grab has received approval from the Minister of Finance and Bank Negara Malaysia (BNM) to commence operations.
product launch, certification, digital banking, banking, fintech, financial services, financial inclusion, SMEs
UK-based Cynergy Bank has received a GBP 20 million Tier 2 capital facility from British Business Investments to be used across Cynergy Bank and Cynergy Business Finance.
SMEs, SME lending, funding, digital banking, COVID-19
India and Indonesia have engaged in talks to settle bilateral transactions in local currencies and link up their fast payments systems.
partnership, cross-border payments, transactions , local payment method, trade finance
The EU has reached an agreement on changes to the Capital Requirements Regulation and Directive, including new regulations for crypto assets.
cryptocurrency, regulation, crypto asset, banks, compliance
Lithuania’s main fintech representatives have just signed a Memorandum of Understanding confirming the country’s National Fintech Guidelines for 2023-2028.
fintech, banks, regulation, AML
The government of Russia has given up on its plans to create a national cryptocurrency exchange and will direct its focus elsewhere.
cryptocurrency exchange, cryptocurrency, cross-border payments, regulation
The government of Pakistan has announced that cryptocurrencies will never be legal in the country in a bid to prevent illegal digital currency transactions.
cryptocurrency, regulation, compliance, digital assets
The council of the EU has made it more difficult for criminals to circumvent AML rules via cryptocurrencies by making the transfers traceable.
cryptocurrency, regulation, AML, CFT, fraud prevention
The Bank of Russia has revealed that the digital rouble platform will support interactions with other central bank digital currencies (CBDCs).
cryptocurrency, CBDC, central bank, digital assets
The parliament of Russia has published a draft law that considers using digital assets for cross-border payments in a bid to overcome sanctions.
cross-border payments, digital assets, digital payments, regulation
Brazil’s Finance Minister Fernando Haddad has advised that the country’s government is set to announce measures towards the improvement of credit conditions.
payments , lending, credit card, interest rate, instalment payments, financial inclusion, fintech, banking
In the wake of the FTX meltdown from November 2022, governments and financial regulators from around the world are working on regulating crypto.
regulation, compliance, cryptocurrency, digital assets, crypto asset, crypto
Switzerland-based multinational investment bank UBS has agreed to buy lender Credit Suisse for CHF 3 billion following a series of urgent talks.
acquisition, banks, lending, banking
The Minister of Finance, Budget, and National Planning has issued a new Electronic Money Transfer Levy (EMTL) regulation focused on domiciliary accounts.
regulation, digital currency, online banking, digital banking, online payments