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Reuters reports that the European Central Bank (ECB) has decided to instruct Italy-based UniCredit to scale down its business activities with Russia.
compliance, regulation, financial sanctions, financial services
Digital identity experts, Lucy Yang & Kaliya Young explain the journey and value of the Modular Open Source Identity Platform (MOSIP) in providing governments with ‘open’ tools to build foundational ID systems.
digital identity, digital wallet, EIDAS, verifiable credentials, data protection, decentralized identity
Oscilar, a player in AI-Powered financial risk management, has unveiled its AI-Powered AML Risk Platform at the ACAMS Summit in Florida.
AML, compliance, regulation, BaaS
As businesses undergo digital transformation, the need for robust KYB processes has never been more stringent. Understanding and verifying the identity of businesses is not just a regulatory requirement but a strategic imperative.
KYB, KYC, digital onboarding, fraud prevention, AML, merchants, UBOs, data privacy
Shaul David, Embedded Finance Advisor: Despite regulatory challenges, the BaaS excitement remains strong, but the lack of cross-jurisdictional platforms hinders global Embedded Finance adoption.
BaaS, banking-as-a-service, embedded finance, fintech, banks, payments
In February 2024, Piermont Bank and Sutton Bank each became subject to consent orders issued by the Federal Deposit Insurance Corp.
BaaS, fintech, consent, regulation, AML
Eric Drésin, Secretary General at ECTAA, discusses the payment challenges, trends, and regulatory frameworks impacting travel agents and tour operators.
travel payments, payments , regulation, digital wallet, PSD3, Merchant of Record, pandemic, BNPL, Open Banking, digital currency, PSD2, SCA, PCI compliance, PCI DSS, payment processing, chargebacks, digitalisation
Evgeny Filichkin, Investment Advisor at neobank Keytom, shares major stablecoin trends to watch out for in 2024.
stablecoin, DeFi, digital currency, ecommerce, CBDC
Digital bank Monzo has engaged in advanced talks to sell a USD 50 million stake to Singapore’s Government Investment Corporation.
funding, digital banking, acquisition, fintech, neobanks
Vlad Macovei from The Paypers emphasises the worldwide move toward Open Data regulation, including the EU's Data Act, changing North American data privacy laws, and global legal approaches to data privacy.
open data, Open Banking, Open Finance, regulation, data sharing, GDPR, data protection, artificial intelligence, Digital Markets Act (DMA), PSD2, banking, fintech
US-based Metropolitan Commercial Bank has decided to wind down or limit its banking-as-a-service (BaaS) programme by the end of the year.
BaaS, financial services, banks, compliance
Following struggles to comply with local regulations, Binance is facing bans in The Philippines. Nigeria is also on the offensive against Binance and similar crypto firms.
cryptocurrency, cryptocurrency exchange, digital assets, regulation, compliance
Capital One has announced its acquisition of US-based credit card issuer Discover Financial Services in an all-stock transaction valued at USD 35.3 billion.
acquisition, payments , online payments, mobile payments, digital payments, ecommerce
Bob Hoyler of Euromonitor discusses slowing growth, citing changing consumer behaviour. Despite challenges, cross-border ecommerce thrives, driven by marketplaces.
ecommerce, cross-border payments, behavioural biometrics, marketplace, research
Kavita Kovvali, Worldpay: In 2023, gaming thrived; for 2024, operators face tougher competition, requiring a focus on fraud prevention, mergers, innovation, and optimisation amid cyberattacks and changing payment methods.
fraud prevention, gambling, payments , Augmented Reality, payment methods, digitalisation
India-based digital payments app Paytm has engaged in talks to acquire Bengaluru-based interoperable ecommerce startup Bitsila.
acquisition, digital payments, ecommerce, payments
France-base digital payments company Worldline has announced it would cut its global workforce by 8% as part of its cost reduction plan.
payments orchestration, merchants, fraud prevention, SaaS, payment processing
Tony Wood from Deloitte APAC explores the dynamic landscape of Open Banking in APAC – trends, regulatory shifts, and transformative innovations driving financial inclusion and competition.
Open Banking, financial services, Open Finance, report
As the global payments threat landscape becomes increasingly complex, and technology advances at an unprecedented rate, regulatory initiatives follow. Maya Shabi, Senior Threat Detection and Product Strategist at EverC, discusses how this will impact payment providers.
online payments, payments , AML, regulation, financial institutions, financial sanctions, terrorism, cybercrime, funding, compliance
Germany-based online bank N26 has revealed its plans to permit customers in Austria and Germany to trade stocks and exchange-traded funds (ETFs).
cryptocurrency, digital assets, online bank, mobile banking