Managers of Wealth Fintech

Crypto payment service Payeer hit with record $10M fine in Lithuania

Payeer was fined approximately $10 million after it allegedly allowed transfers to sanctioned banks.

Regulators Wary of Banks Outsourcing to Tech Firms

The committee is proposing 12 principles for banks and regulators, saying that banks’ boards have the final responsibility in overseeing third-party arrangements.

Edfapay enters Morocco

This significant achievement aligns with EdfaPay's vision to empower the global financial landscape.

EBA issues 'travel rule' guidelines

This rule will help tackle the abuse of such transfers for money laundering and terrorist financing purposes.

Fintechs accuse banks of sabotage on ‘open banking’

After the Australian Banking Association released a report by Accenture showing only 0.3 per cent of customers are using open banking

EQS Group to acquire Data Legal Drive

The strategic move will confirm EQS Group's leading position in the European compliance SaaS market

Kuwait’s central bank approves launch of new WAMD instant payments system

Among the latest adopters of WAMD are the National Bank of Kuwait (NBK), Kuwait Finance House (KFH) and the country’s first digital bank, Weyay Bank.

EBA Clearing publishes specs to provide PSPs with Verification of Payee at a pan-European level

The specifications are based on the proposal of the European Payments Council’s VOP Scheme Rulebook.

Broadridge Expands Disclosure Capabilities to Help Clients with Complex SEC Filings

Acquires CompSci, a Web-based, collaborative platform for SEC disclosure preparation, XBRL tagging, and EDGAR filing; platform simplifies disclosure complexities with both managed and self-service capabilities

BPI and Other Major Players Join Fintech Alliance Philippines as Members

Looking ahead, the Alliance is preparing for the Manila Tech Summit on AI Unlocked: Shaping Our Digital Future, scheduled for 6-8 August 2024.

Bahamas to regulate banks to offer cbank digital currency

The European Central Bank has signalled it will make it mandatory for euro zone retailers and banks to accept and distribute a future digital euro

Australian AI assurance framework for public sector an important benchmark for private sector

Australia’s state and territory governments are expected to develop their own frameworks that will address their specific considerations while still being consistent with the national framework.

The EU Corporate Sustainability Due Diligence Directive is final: how can companies prepare?

Many companies that will face extensive obligations under the CSDDD will also be subject to requirements pursuant to the Corporate Sustainability Reporting Directive

Apple faces potential Digital Markets Act fine over App Store rules

The Commission’s preliminary view is that none of Apple’s terms “allow developers to freely steer their customers”.

Digital euro would maintain freedom to choose how Europeans pay - ECB

A digital euro would combine the convenience of digital payments with cash-like features

Raiffeisen Bank International reinforces trade finance customer engagement with Surecomp

Thanks to swift onboarding and no service interruptions, RBI will be able to seamlessly enhance its trade finance business operations.

Nuvei secures UAE license

Nuvei already has a strong commercial presence and existing high-profile partnerships in the region.

Central banks should exploit AI ‘gold rush’, report says

The study for the Bank for International Settlements calls on central banks to raise their game and rethink their use of data in the wake of the tech tsunami.

FinCEN’s latest AML requirements: Impact and strategies for RIAs and ERAs

This constant updating is crucial for preventing non-compliance and ensuring that the financial services business remains reputable and secure against potential legal challenges.

Legal,Regulation,Tax & Compliance