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FinTech Pulse

Sensitive Matters: Data & Legislation - Part 1

 

Proper management of personal information has been a topic of discussion since the 1970s, leading to comprehensive information safety laws in over 80 countries and to the creation of public institutions dedicated to safeguarding privacy rights. In recent years, however, the rise of alternative finance or “FinTech” companies has disrupted this tightly guarded space, raising an entirely new set of concerns due to their occupation of a regulatory “grey area”.

So what kind of regulatory environment is needed specifically for FinTech, and what could it look like? Understanding the current regulatory situation makes for clearer perspective, not only to encourage consumer trust in FinTech, but also when it comes to influencing the direction policymakers take and what can be expected from the rise of FinTech in the coming years.

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Topics: Big Data, PSD2, psd2 impact on banks, LEGISLATION

Author: Pablo Reyes, Software Engineer on Nov 14, 2017

What makes London the Fintech Capital of the World?

After completing my first 2 years at university, I jumped at the opportunity to work at one of Strand’s headquarters in Barcelona as part of their marketing team.

Since arriving, I have been made to feel extremely welcome by my colleagues, and in my first week alone, I felt like I had already learnt more than in 6 months of studying at university - and in particular about FinTech.

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Topics: online banking, digital banking, open banking, PSD2, psd2 impact on banks

Author: Gabriel Moreno on Sep 22, 2017

Open Banking: Open for Business or Closed to Progress?

The future of banking is indisputably Open Banking. Open in all senses of the word: transparency, ease of access to information and a place at the table for new market players.


Open for everyone, without exception.

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Topics: online banking, digital banking, open banking, PSD2, psd2 impact on banks

Author: Pau Velando, General Manager on Sep 12, 2017

PSD2: Where Customers Call the Shots

Change, in all its forms, brings with it concern and unrest, but also huge opportunity.

Particularly when change is imposed, it is often hard to see beyond the regulations and embrace the possibilities.  Banking, having experienced relatively little change in recent times, is now on the cusp of considerable transformation in the shape of PSD2, or the Revised Payment Service Directive.

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Topics: Personal Financial Management (PFM), PFM, digital banking, PSD2, personalized finance, psd2 impact on banks

Author: Aoife Crean - Content Manager on Aug 3, 2017

PSD2 and API Banking: Are banks ready for the challenge?

With the revised Payment Service Directive (PSD2) on the horizon, banking institutions are increasingly eager to take action - though most have yet to make a move - to get a head start on this new regulation and weather the storm of industry disruption that will no doubt ensue.

To consider PSD2 a threat to banks would be the short-sighted view, as the reality is that the opportunities are numerous.  However, with approximately a year to 18 months until this legislation is implemented, many financial establishments may be misled into thinking time is on their side. With the inherent strategic and operational challenges this mandate will bring, they would be ill-advised to delay.  

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Topics: FinTech, digital banking, PSD2, psd2 impact on banks

Author: Vaida Pakulyte on Apr 10, 2017

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