Search Results for: financial services

September 19, 2024 @ 5:11 am By Omar Faridi  |  

ASIC expands operational resilience guidance for market participants. ASIC (in Australia) has officially released a letter to market participants “outlining technological and operational resilience guidance, clarifying how to identify critical business services and notification of a major event.” The guidance relates to the technological and… Read More

September 18, 2024 @ 12:30 pm By JD Alois  |  

In what may be a heated meeting of the House Financial Services Committee, SEC Chairman Gary Gensler is scheduled to testify next week in a hearing on the Oversight of the Securities and Exchange Commission. While the hearing memo nor prepared testimony is yet available,… Read More

September 9, 2024 @ 4:07 pm By JD Alois  |  

House Financial Services Committee Republicans have issued a statement on their efforts to “combat the economic threat from the Chinese Communist Party.” China has become more jingoist under the leadership of  President Xi Jinping. The Chairman of the CCP has sought to curtail economic freedom… Read More

September 8, 2024 @ 6:56 pm By Tony Zerucha  |  

Results of a recent J.D. Power survey suggest consumers are growing more comfortable with artificial intelligence in financial services, but the concept isn’t over the hump just yet. J.D. Power surveyed more than 2,000 financial services customers in the United States about their utilization and… Read More

September 8, 2024 @ 4:15 pm By Omar Faridi  |  

More than two-thirds (76%) of financial services operations leaders in the US believe that using AI would enable them to make faster, more effective decisions, but 62% lack the data management capabilities and data environment to capitalize on the technology’s potential. That is according to… Read More

September 8, 2024 @ 4:12 pm By Omar Faridi  |  

With the increasing reliance on digital processes, tools, and the economy itself, the financial services sector faces heightened exposure to operational risks, particularly Information and Communication Technology (ICT) risks. The latest volume of the Malta Financial Services Authority (MFSA)’s publication, “The Nature and Art of… Read More

September 8, 2024 @ 10:21 am By Omar Faridi  |  

barq, a Saudi financial services startup, has partnered with Mastercard (NYSE: MA) to empower its customers with a range of payment acceptance solutions through Mastercard Gateway. The strategic agreement will see barq leverage Mastercard Gateway technology “to further equip its merchants and consumers around the… Read More

September 7, 2024 @ 10:33 am By Omar Faridi  |  

Grath, a global platform for financial services and regulatory compliance technology, is expanding its presence into the Middle East with the opening of a new office in the prestigious Dubai International Finance Centre (DIFC). This expansion is said to mark a significant milestone in Grath’s… Read More

September 6, 2024 @ 5:45 am By Omar Faridi  |  

Complaint management is a crucial aspect of customer service and risk management in the financial services sector, according to an update from Spring Labs. These firms—including traditional banks, fintechs and insurance companies—must “adhere to various regulations and standards that require them to handle complaints in… Read More

August 29, 2024 @ 9:42 pm By Omar Faridi  |  

Aurem, a unified workplace wealth and benefits technology platform, announces its licensing by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), marking a significant milestone in the company’s mission to connect the world for a better financial future. The company is… Read More

August 26, 2024 @ 10:28 pm By Omar Faridi  |  

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has released the Consultation Paper No. 7 of 2024 containing proposals to enhance its regulatory framework to “allow the issuance of Fiat-Referenced Tokens (FRTs) from the ADGM and invites public feedback and comments on the… Read More

August 24, 2024 @ 10:48 pm By Omar Faridi  |  

Zumo, the B2B digital assets infrastructure, has signed the Abu Dhabi Sustainable Finance Declaration, reinforcing its commitment to a greener financial services industry as it extends its reach further into the region. The Abu Dhabi Sustainable Finance Declaration “is a voluntary membership-based initiative launched by… Read More

August 19, 2024 @ 10:27 pm By Omar Faridi  |  

Strategy consultants at OC&C have shared a report unveiling a significant opportunity for Embedded Finance for scale SaaS ERP (Enterprise Resource Planning) and payroll providers. Embedded Finance refers to the “integration of financial products into non-financial customer journeys.” The value chain for embedded finance typically… Read More

August 16, 2024 @ 9:15 pm By Omar Faridi  |  

Grab Holdings Limited (NASDAQ: GRAB) announced unaudited financial results for the second quarter ended June 30, 2024. Anthony Tan, Group Chief Executive Officer and Co-Founder of Grab said: “We continued to harness the strength of the Grab ecosystem, and improved the usage frequency and reliability… Read More

August 12, 2024 @ 10:13 pm By Omar Faridi  |  

In June 2023, the Financial Services Agency of Japan (FSA) amended the Payment Services Act (PSA) to provide an updated regulatory framework for crypto assets and stablecoins. According to an update from Blockdaemon, these regulations have clear implications “for Crypto Asset Exchange Service Providers (CAESP)… Read More

August 10, 2024 @ 10:52 am By Omar Faridi  |  

Consumer protection is a strategic pillar for the Malta Financial Services Authority (MFSA) and enabling financial literacy is part of this key objective. By supporting financial literacy and promoting a stable financial system, the Authority is committed to “fostering responsible and informed financial decision-making by… Read More

August 2, 2024 @ 12:46 pm By JD Alois  |  

The House Financial Services Committee Republicans have posted a report on ESG entitled, “The Failure of ESG: An Examination of Environmental, Social and Governance Factors in the American Boardroom and Needed Reforms.” In recent years, ESG has infiltrated corporate America as well as the political… Read More

July 29, 2024 @ 3:12 pm By JD Alois  |  

The Chairman of the House Financial Services Committee, Patrick McHenry, has named Kim Betz as the new staff director for the Committee. McHenry issued a statement indicating Betz has been a close confident and top advisor during his tenure as the Chair. “Her deep experience… Read More

July 28, 2024 @ 5:01 pm By Omar Faridi  |  

Embedded finance provider Weavr has obtained an Electronic Money Institution (EMI) License from the Maltese Financial Services Authority (MFSA) to support its European embedders. Weavr announces that it has “acquired a European e-money license.” The license is significant for both Weavr and the embedded finance… Read More

July 25, 2024 @ 12:38 pm By Omar Faridi  |  

The Malta Financial Services Authority (MFSA) has released a “Dear CEO” letter outlining the results emanating from a thematic review focused on Money Laundering Reporting Officers (MLROs) operating within Company Service Providers (CSPs) set up as corporate entities. As highlighted in the latest rendition of… Read More