Managers of Wealth Fintech

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.

FCA register set for 62-hour blackout

Under the Senior Managers and Certification Regime firms are required to submit data to be published as part of a directory of certified and assessed persons on the register.

South Africa ditches paper cheques

This decision was taken due to the numerous challenges associated with the usage of cheques.

Santander buys Wirecard’s core European business for €100m

Spanish bank beats UK’s Lycamobile for continental payment-processing operations

Wolters Kluwer FRR Named Technology Partner for Regulatory Compliance in Central Banking Awards

OneSumX for FRR, Wolters Kluwer FRR’s best-in-class integrated regulatory compliance and reporting solution suite

Take off with Harneys Tech Accelerator Program

The recent regulatory sandbox regime that came into force on 31 August 2020 is designed to foster the growth of FinTech related businesses and provides a testing ground for start-ups in the jurisdiction.

SimCorp expands partnerships ecosystem with WTax

It comes at a time where many asset owners and asset managers around the globe, are increasingly struggling with the painstaking operational challenge of reclaiming withheld tax, across authorities and jurisdictions.

PwC solution utilises DueDil tech to automate KYB for banking client

Checks that were previously conducted manually will now be fully automated using the DueDil API, enabling the client to deliver an enhanced overall customer experience.

Cryptocurrency Lending Platform Cred Files For Bankruptcy: Users Worry For Their Funds

Cred, the US-based cryptocurrency lending platform, has filed for bankruptcy, as users become even more anxious about the state of their funds.

Canada’s Tax Agency Wants Coinsquare Crypto Exchange to Fork over User Data

The Coinsquare case is similar to the IRS's 2018 demands on cryptocurrency exchange Coinbase.

Ant setback signals reckoning for fintech

Decision by Chinese authorities over IPO underlines regulatory pressures on sector as it expands

OECD to release framework amid inconsistent rules on crypto taxation

The Organisation for Economic Cooperation and Development is next year planning to release a tax-reporting framework for crypto-assets based on the common reporting standard (CRS).

Legal,Regulation,Tax & Compliance