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AI-powered financial fraud detection spending will exceed $10bn by 2027 as firms try to cope with increasingly complex attacks, according to a report from Juniper Research.
The US Department of the Treasury has called for more regulation on the partnerships between FinTech and banks to protect consumers.
The Hong Kong government is planning to bring in a range of financial incentives to address skill shortages in the FinTech sector.
It is no secret that regulators around the world are becoming increasingly tougher on financial services companies. There is an unrelenting level of regulation being drafted and fines are hitting eyewatering sums. A report from Finbold pegged fines for non-compliance with AML, KYC and data privacy regulations at a total of €12bn in 2020.
Almost half a trillion dollars has been wiped from the valuation of FinTech companies, according to a report from the Financial Times.
President of China Xi Jinping has officially approved a plan to standardise and develop regulations for the FinTech sector, MarketWatch has reported.
The chief of South Korea’s Financial Supervisory Service (FSS) has revealed he is seeking to ease restrictions on financial firms’ investment in FinTechs.
Digital banking transaction security developer OneSpan has published an eBook which outlines how to find a unique competitive edge with remote processes, blending human and digital experiences with e-signature practices.
A recent blogpost by Sigma Ratings has detailed how the FinTech industry is facing heightened scrutiny from regulators as issues around compliance comes to the forefront.