Former Bank of England Governor Mark Carney has emphasised the financial sector's crucial role in the transition to a low carbon and eventually a net zero economy. In the closing keynote of Sibos 2021, Carney also injected a note of cautious optimism on the question of how quickly progress can be made in reducing carbon emissions.
Crypto technologies “offer a prospect of radical improvements in financial services”, but could pose financial stability risks in their current form, according to the Bank of England's deputy governor for financial stability. Speaking at Sibos 2021, Sir Jon Cunliffe said: “Although crypto finance operates in novel ways, well-designed standards and regulation could and should enable risks to be managed in the crypto world as they are managed in the world of traditional finance.”
The national roll-out of the new £100 spending limit for contactless card payments begins today. The UK chancellor announced the new limit from £45 this March, in response to wider contactless use among consumers and the pandemic, which saw less use of cash in shops and restaurants, for instance.
Charles Randell is to step down as chair of the Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) in Spring 2022. Randell took up the appointment as chair of the FCA and PSR boards in April 2018. The term of his appointment was 5 years.
The experience of the past two years has proved the strength and the economic value of banks – and they can retain that role even in the face of unprecedented commercial, technological and environmental disruption during the next decade, according to Societe Generale's CEO. Speaking during an In Conversation session at Sibos 2021, Frederic Oudea, whose 13 years in post make him one of the most experienced CEOs in the sector, outlined key trends that will reshape in the infrastructure of the financial sector during the next few years.
Representatives from the G7 economies have said that any central bank digital currency (CBDC) must "support and do no harm". The G7 highlighted that though the introduction of CBDCs offers ‘significant benefits’ they also said they raise “considerable public policy and regulatory issues".
Credit reference agency Credit Kudos has launched Signal, an “explainable” Open Banking credit score to help lenders “serve more customers and reduce defaults”.The scoring system enables lenders to move beyond the limitations of traditional credit data, allowing them to accurately score all applicants, not just those with credit history.
The asset management industry has not been immune to the COVID challenges faced by the financial services industry. In fact, as one of the sectors slowest to digitally transform and be disrupted by challengers, things like app operational resilience and secure remote working have been particularly difficult. To tackle some of these issues, FStech virtually sat down with Arrow Global head of data governance Dave Parker.
Quantum computing could change the game for several key activities in the City of London according to some experts. However, some commentators remain less convinced. Will McCurdy explores whether quantum computing is set to have a concrete impact on the UK financial services industry any time soon.
To mark International Women’s Day, Alexandra Leonards spoke to a group of women leading the way in financial services, discovering some of the challenges they have faced, and exploring why men still dominate the boardroom
My role involves ensuring that existing technology within Markets and Securities Services is fit for purpose from a regulatory, commercial and functional standpoint and meets the performance required to support the business. This means ensuring our platform is optimised to deliver the best outcomes for our business, while also managing the inherent technology related risks.
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.
Instant payments are creating new business opportunities for banks by providing more touchpoints than ever. With these evolutions underway, Featurespace brought leading industry experts together to discuss how they are protecting customers from fraudsters in real time, utilizing innovative and disruptive solutions to reduce fraud. Click here to find out more.
As cyber attacks and data breaches are in the news on an increasingly regular basis - with regulatory penalties and customer trust on the line for financial services firms - it has never been more crucial to be compliant in the cloud.
This video, with Akamai’s EMEA director of security technology and strategy Richard Meeus, will help explain what your company can be doing to make sure it’s not embroiled in the next big fine or front-page scandal.
99% of experience driven FS Businesses consistently use analytics for testing and optimisation, improving customer satisfaction metrics by 1.8 times.
To learn more – please read the 2019 Digital Trends: Financial Services in Focus report. Download here