With more financial decisions now in consumers’ hands, the changing digital landscape and the global economic crisis we are facing it is the time for us to set a higher
Last month, our Project Regulator team spoke to the FCA about its new Consumer Duty. With only 6 months to implement the principle into business plans, what does this mean
The exponential growth of the eCommerce sector in recent years has fueled demand for easily accessible consumer credit. One of the fastest growing trends in the online payment sphere has been that of Buy Now, Pay Later schemes, with transactions using this payment method growing by 292% between 2018 and 2020, and providers attracting $11bn in venture capital funding in 2021 alone.
Fintech regulation in Europe shows no signs of slowing. So what are the main challenges and frameworks fintechs should be aware of to ensure their future success.
A webinar with Philip Creed, fscom’s Director and Head of Financial Crime was recently held, to help firms understand and respond to this development – and this blog captures some of the highlights. We will unpick the Financial Conduct Authority’s (FCA) approach to Skilled Person reports, explain why your firm might be reviewed, and advise how best to approach one – or better yet, to avoid it happening in the first place.
Buy Now, Pay Later is a rapidly growing trend in a number of market sectors, including retail, entertainment and travel. During the COVID-19 pandemic, use of the payment scheme increased fourfold in the UK, to the tune of £2.7 billion in transactions.
In this article, I’ll give a brief overview of how BNPL works and the industries where it’s most prevalent, before discussing the recent regulatory changes that have been enacted and what they mean for the future of this popular payment method.
Speakers With more financial decisions now in consumers’ hands, the changing digital landscape and the global economic crisis we are facing it is the time for us to set a
Today, The Financial Conduct Authority (FCA) has published its finalised rules on the new consumer duty, which aims to “fundamentally improve how firms serve consumers”. The FCA states that the
Companies across the payments sector have 12 months to implement the Financial Conduct Authority’s new consumer duty rules that intend to improve how firms serve consumers.
We recently held a webinar on this topic with fscom experts Nick Gumbley (Associate Director) and Will Finn (Senior Manager). In this blog, we summarise their advice on what companies need to know about regulations on customer data, and how they can set up a framework to meet these challenges head on.
Tune in to hear our expert panel explore the risks of cross-border payments, discuss how to achieve more efficient and commercially viable compliance processes, and provide a ‘crystal ball’ forecast on regulatory and market opportunities.
Speakers include:
Nkosi Moyo, Head, Global Payments – Mobile Sales, Crown Agents Bank
Robert Wade, Global Head of Cross-Currency Solutions, J.P. Morgan
Livia Benisty, Global Head of AML, Banking Circle
Chryssi Chorafa, Founder & CEO, StarLiX
Kazım Rıfat Özyılmaz, Co-Founder, Arf
SCA, or Strong Customer Authentication, is not a topic exclusive to the EU (or the PSD2, for that matter). Today, we can see it popping up in financial conversations across the globe. And even though global SCA regulations all share the same stigma of ‘expensive’ and ‘inconvenient’, the need to implement SCA and increase the security level of our authentication systems is as relevant and urgent as ever before. Read on to see what is brewing in the world of payment authentication across the US, Asia, Europe and the Nordics.
Hear from Paul Roe, Head of Department for Payments Supervision, James O’Connell, Senior Manager: Banking, Payments and Insurance Authorisations and Helene Oger-Zaher, Payments Policy Manager of the FCA on the
The Payments Association welcomes the opportunity to contribute to the FCA “New Consumer Duty”. The community’s response contained in this paper reflects views expressed by our members and industry experts
This paper sets out the Payment Association’s response to the BoE/FCA discussion paper: Diversity and inclusion in the financial sector – working together to drive change. It contains recommendations on
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