Thirty U.K. financial technology services firms have established their own organization for sharing data on suspicious activity and other legal and regulatory risks, but said their efforts will be limited without input from the mainstream banking sector.
The U.S. Office of the Comptroller of the Currency is moving ahead with plans to engage with financial technology services firms under a new presidential administration, a senior regulator told attendees of a recent industry conference.
Dozens of fintech firms are delaying their applications for special-purpose banking charters from the U.S. Office of the Comptroller of the Currency after state officials filed a civil complaint seeking to block the federal regulator, say sources.
Several dystopian novels describe a future in which homo sapiens become enslaved or extinct because of the rise of robots and computers. Current buzz in the compliance world doesn't include speculation on our extinction, but there is lots of talk about the rise of "regtech."
Technology-based financial service providers are struggling to obtain accounts at global banks which, despite investing millions of dollars to develop the industry, remain skeptical of their ability to manage its risks, say analysts.
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