Managers of Wealth Fintech

iFast maintains digibank ambitions despite failed wholesale licence bid in Singapore

iFast's consortium, with China's Yillion Group and Hande Group, did not succeed.

CBA granted banking licence for Dutch subsidiary

Commonwealth Bank of Australia is a step closer to providing better access to European markets for its institutional clients post-Brexit.

Global Fintech Regulatory Rapid Assessment Study due to Covid-19

This global study seeks to assess how central banks and other financial regulators are responding to the challenges of Covid-19 in regulating and supervising FinTech activities and other forms of Digital Financial Services (DFS).

ISDA using Digital Asset clearing and DLT technical advances and international legal issues

The ISDA functions to promote safer and more efficient derivatives markets by developing standards like the ISDA Master Agreement and a wide range of related documentation.

Dutch competition watchdog calls for tighter EU rules to rein in Big Tech role in payments

A market study conducted by the competition watchdog at the behest of the Dutch Ministry of Finance finds that Big Tech companies are strengthening their positions in the payments market through acquisitions and collaborations.

Updraft raises £16m to help Brits break up with their credit cards

Updraft, a London-based startup promising to help users ditch their credit cards, has raised £16 million in equity and debt.

US lawmakers introduce act to make stablecoin issuers get banking charter

They also claim that the Covid-19 pandemic has left many low and moderate income Americans shut out of traditional financial services.

FCA: Robo advice assets up 700% in three years

Consumer awareness of robo advice was also on the up, the FCA found, with the number of people having heard of these services up from 10 per cent in 2017 to 19 per cent in 2019.

Ardan International implements Financial Risk Solutions (FRS) tech to grow wealth management business

Ardan International, an Isle of Man-headquartered wealth management provider, has adopted Financial Risk Solutions (FRS) technology for its newly launched tier-one wealth management platform.

Are you ready for the new rules on ESG investment coming into force in March 2021?

The right digital solution isn’t just a tick in the box or a way to avoid further administrative burden – it can enable an increase in client engagement and loyalty and deliver long-term growth.

Climate change - The low-carbon transition

These policy shifts will drive major changes in business across entire value chains from product design to production, distribution and recycling.

TransferWise wins restricted banking licence in Australia

TransferWise has been granted a licence to gain direct access to Australia's real-time payment system by the country's Prudential Regulatory Authority.

Central Bank of Sri Lanka selects SimCorp for front-to-back reserve management

The agreement* aims to deliver the CBSL with increased operational resilience, improved automation and strong support of the bank’s investment strategy.

New UK tech regulator to limit power of Google and Facebook

Alok Sharma says dominance of a few big companies hurts innovation and curtails customer choice

Digitisation, COVID-19 prompt reduced headcount at Absa

The economic upheaval caused by the COVID-19 crisis, combined with the group’s digital transformation strategy, resulted in the bank reducing its headcount to 38 472 in 2020 – down from 41 703 in 2017.

Tax administrations around the world were already going digital. The pandemic has only accelerated the trend.

For tax authorities, the challenge is the lack of information about the users and the amount of payments made for the activities facilitated by the online platforms. Without such data, identifying the place of consumption is very challenging

Platform launches with 0.1% fee

The Digi product is paperless, can be completely branded and offers a client portal within which firms can share valuations, messages and documents with their clients.

Google faces UK scrutiny over new advertising data revamp

That means login, advertising and other features would be taken off the open web and placed under Google’s control, the group said.

Ireland Update - Virtual Assets / Proposed AML Requirements

Virtual Asset Service Providers ("VASPs") to be 'designated persons': AML/CFT requirements will apply to a range of VASPs businesses for the first time.

China drafts new antitrust guideline for internet companies

China proposed an amendment to this law in January, including internet companies.

Legal,Regulation,Tax & Compliance