Banking Infrastructure

ECB stress test reveals potential climate peril for European banks

A climate stress test by the European Central Bank (ECB) has found firms based in areas most open to physical risk could see their creditworthiness impacted by climate change.

Zūm Rails unveils new anti-fraud tools to strengthen payment security

Open banking firm Zūm Rails has introduced a new set of anti-fraud tools to bolster the security of its Instant Deposit feature on its platform.

Nigerian central bank to launch new CBDC through Bitt collaboration

The Central Bank of Nigeria (CBN) is teaming with Barbados-based FinTech Bitt to introduce a new central bank digital currency (CBDC) called eNaira.

How financial institutions can succeed in mobile banking post-pandemic

A OneSpan blogpost has underlined how financial institutions (FIs) can compete in the mobile banking sector following the shifts brought about by the Covid-19 pandemic.

ESMA slaps €408,000 penalty on derivatives firm due to EMIR data breaches

The European Securities and Markets Authority (ESMA) has fined DTCC Derivatives Repository for seven breaches of the European Market Infrastructure Regulation (EMIR).

Financial consortium calls for new social, environmental reporting rules for banks

A financial group has called for the adoption of impact-reporting standards that account for social and environmental factors to speed up a sustainable transition for banks.

HKMA sets out four-step initiative to drive bolstered RegTech adoption

The Hong Kong Monetary Authority (HKMA) has outlined four actions to promote the use of RegTech in the Hong Kong banking sector.

Is there a need for globally mandated ESG reporting requirement?

As dangers associated with climate change continue to become more inescapable in the lives of companies and individuals alike, the importance and need for ESG – Environmental, Social and Governance – in the financial sector is growing stronger. Is it time for globally mandated ESG reporting in the financial sector?

Hong Kong could introduce mandatory climate disclosures as early as 2022, HKMA claims

The Hong Kong Monetary Authority (HKMA) is apparently planning to speed up proposals to require financial organisations to disclose their climate change-related financial risks.

Study finds AML compliance costing UK firms over £28bn a year

A study by LexisNexis Risk Solutions has found anti-money laundering (AML) compliance is costing UK financial institutions £28.7bn and will raise to £30bn by 2023.
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