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Regulation & Compliance

FCA Regulatory Scalebox Workshop

In line with recommendations made in the Kalifa review​, the FCA has committed to introducing a new Regulatory Scalebox to ensure that high growth firms have the appropriate support and oversight. The FCA also committed to providing stronger regulatory oversight for newly authorised firms in its Business Plan​. As part of this commitment they are inviting EPA members to join them at one of their 2 virtual workshops running on 22nd and 29th September. These workshops will be particularly valuable for members that are either currently experiencing rapid growth and scale, have experienced this in the past, or are newly regulated. 

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THE ONLY CONSTANT IN FRAUD IS CHANGE

– What is Behavioral Biometric Analysis?
– What is a BionicID™?
– What makes Revelock’s BionicID™ solution unique in fraud prevention?
– How can BionicIDs™ be used to stop Impersonation and Manipulation attacks?
– What is BionicID™ analysis best suited for?
– Does BionicID™ data collection or analysis impact the User Experience (UX)?

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Compliance meets digital

One of the most discussed subjects in the industry today is how digital has transformed banking and financial services. And of course this has been even further amplified by the Coronavirus pandemic.

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Netcetera 3DS ACS is Discover Global Network certified

Discover Global Network, an international payment network, certified the Netcetera ACS for Diners Discover Network card transactions. Certified with all major card networks, the access control server improves user experience and promotes secure and frictionless transaction authentication worldwide.

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HMT confirms introduction of new financial promotions gateway

On 22 June 2021, HM Treasury (HMT) confirmed that it will take forward legislation to introduce a gateway for the approval of financial promotions of unauthorised persons. Once the gateway is in place, only firms which have successfully applied to the FCA to approve financial promotions will be permitted to approve the financial promotions of unauthorised persons.

Compliance with regulatory requirements regarding the approval of financial promotions has been a recent supervisory concern for the FCA, especially in circumstances where the products being marketed are complex and targeted at the retail market, and the FCA has issued a number of letters and publications setting out concerns and guidance for authorised firms approving financial promotions

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A Payments Regulation Road Map – EPA in partnership with Eversheds Sutherland

To make it easier for members of the Emerging Payments Association to navigate the evolving landscape of payments regulation, the EPA and Eversheds Sutherland are providing you with a resource that will keep you on track. The Payments Regulatory Roadmap is designed to give an overview of the areas of payments regulation that our members should be anticipating in the next two years and to know the next steps and action required. And to help you prioritise what is of critical importance and what is less impactful.

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Monzo Could Be Gonzo After Regulatory Investigation

Monzo Bank has been in financial danger for some time and now, in its latest annual report, has admitted that the UK’s Financial Conduct Authority (FCA) is investigating it for its compliance or otherwise with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

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PSD2: Enabled but not yet excelling

PSD2 is a hot topic for the UK market. How can we tackle it?
We take a look at challenges and solutions for the UK payment ecosystem in complying with PSD2 requirements.
With PSD2 now live in most European countries, being 5 months past the December 31, 2020 deadline, the UK is next, as the deadline for March 2022 is approaching. In order for the cardholder and merchant to properly adopt additional authentication without abandoning the transaction, the main focus is eliminating as much friction as possible. Testing data¹ from merchants such as Amazon, Google and Microsoft has shown that although Strong Customer Authentication has been enabled for most of the UK ecosystem, it is still grappling with several issues. Examples of this are relying on Risk Based Authentication for lower challenge rates, issuer readiness on latest protocols, issuer latency and lastly confusion on what exemptions to properly utilize.

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5 THINGS FRAUD FIGHTERS ARE SAYING ABOUT ONLINE FRAUD RIGHT NOW

– Introduction
– Poor hygiene & Persistent threats – ‘perfect storm’ of online fraud
– Customers expect Banks to Know Your User
– Fraud Fighting Collective – Fraud Fusion Centers
– Overwhelmed with Alerts, Automation is key
– Clear ‘risk calculation’ – Frictionless First
– No silver bullet – but there are best practices

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USING BIONICIDS TO STOP IMPERSONATION AND MANIPULATION ATTACKS

– Introduction
– What is BionicID™ analysis best suited for?
– Does BionicID™ data collection or analysis impact the user experience?
– Does BionicID™ data collection/analysis comply with SCA/PSD2?
– Does BionicID™ data collection/analysis (behavioral biometric digital identity) comply with GDPR?

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WHAT IS BEHAVIORAL BIOMETRIC ANALYSIS?

– Introduction
– Physical vs. Behavioral Biometrics
– What is a BionicID™
– What makes Revelock’s BionicID™ solution unique in fraud prevention?
– What makes Revelock’s BionicID™ more accurate than other behavioral biometric solutions?

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WHAT IS ACTIVE DEFENSE?

The need for a new kind of fraud defence
– What we mean by Active Defence
– The problem Active Defence solves: Identity attacks and manipulation attacks
– Three capabilities to avert any ID attack

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Currencycloud Superhero Spotlight Series | 7-11 June

We are really excited to shine the spotlight on some of the best-known brands in #Fintech during our Superhero Spotlight Series.

A week-long event packed with articles, research reports and LinkedIn and YouTube live streamed interviews with over 30 of Fintech’s finest superheroes.

Register for the agenda: https://bit.ly/3ySP2lL and keep an eye out for reminders of the #livestream sessions.

#Payments #Banking #FintechSuperhero

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