AI in Fintech
Explore how artificial intelligence is reshaping financial services. Fintech Review covers the impact of AI on automation, customer experience, risk analysis, and innovation across banking, crypto, payments, and financial platforms.
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FCA Officer Highlights Role of Tech in Fintech Regulation
At the recent Travers Smith’s Future of Fintech 2025 event, held at Merchant Taylors’ Hall, Jessica Rusu of the Financial Conduct Authority (FCA) emphasised the role of technology and innovation in fintech regulation. Agreeing with the event’s focus, she confirmed it has been a pivotal summer for regulation. Rusu highlighted the key interplay between technology,…
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Legal Challenge Halts Selection of Bond Tape Provider
A legal challenge currently questions the selection process of a bond consolidated tape provider. The disputed contract aims to ensure high-quality tape delivery and value for money. The decision followed a competitive 2-stage process to meet the industry’s strict demands. However, an undisclosed party has legally objected. Find more details here. Despite the challenge, the…
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FCA Chief Economist Urges for Rebalance of Risk in UK Finance
Recently, FCA chief economist, Kate Collyer, addressed Warwick Business School. She discussed financial regulation’s role in fostering UK’s growth. She highlighted the financial sector’s stagnant productivity over the past decade and UK’s sluggish economic growth post-financial crisis. Collyer suggested that this mediocre performance might hint at a deeper issue within the sector. She emphasized the…
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FCA to Cut Data Reporting for 11,000 Retail Firms
The Financial Conduct Authority (FCA) plans to further lessen data reporting requirements, potentially benefiting around 11,000 retail intermediary firms. This decision focuses on the regular submission of the Retail Mediation Activities Return (RMAR), a report that helps firms understand consumer outcomes and spot potential retail intermediary issues. More information on this subject is available at…
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Fintech Update 202509271812
In an age where technology is swiftly advancing, many financial services firms are grappling with the challenge of modernising their core systems. The traditional method of a full rip-and-replace of legacy systems is often seen as a risky move. However, a new approach has surfaced, promising to connect old and new while unifying data and…
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Legal Challenge over Bond Consolidated Tape Contract
The recent decision to award the contract for the bond consolidated tape provider has sparked a legal challenge. The awarding body defended their decision, asserting that they held a fair, competitive two-stage process. Their aim was to ensure the selected provider could deliver a high-quality tape at the best value for money. The role of…
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FCA’s Collyer Urges Risk Rebalance for UK Growth
The Financial Conduct Authority’s (FCA) chief economist, Kate Collyer, recently delivered a speech at Warwick Business School. The main thrust of her discourse was the need for a shift in risk balance to stimulate innovation and economic growth in the UK. The talk was part of the programme, “Financial Regulation in Support of the UK’s…
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FCA Launches £1M Campaign for Motor Finance Scheme Awareness
The Financial Conduct Authority (FCA) is launching a £1 million campaign to promote an upcoming motor finance compensation scheme. This significant move aims to increase transparency and protect consumers by informing them about their ability to access the scheme directly, eliminating the need for a claims management company (CMC) or law firm. Designed to demystify…
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FCA Warns of High-Risk Schemes from Unregulated Firms
Unregulated firms propose high-risk schemes, presenting potential hazards to investors. The Financial Conduct Authority (FCA) has voiced concerns about this increasing trend. A significant number of investors could be jumping in without a complete understanding of the associated risks. These firms often sidestep FCA authorisation through legal loopholes. Unlike their regulated counterparts, unregulated firms don’t…
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Monmouth’s New Banking Hub Celebrates FCA Cash Rules
Recently, the Welsh town of Monmouth celebrated a new banking hub’s inauguration, a noteworthy event. This celebration coincided with the Financial Conduct Authority’s (FCA) first anniversary of implementing access to cash regulations. These rules aim to preserve community access to cash services amidst the rising popularity of digital banking. According to FCA regulations, banks and…
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FCA Chief Highlights Tech’s Role in Future Finance
Jessica Rusu, the FCA’s Chief Data, Information and Intelligence Officer, recently emphasized the crucial role of technology and innovation in the future of finance. She made this statement at the Travers Smith’s Future of Fintech 2025 conference, amid a significant regulatory evolution. This evolution, as highlighted by the conference invitation, aims to keep up with…
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FCA Drops Investigation into Wellesley & Co Limited
The Financial Conduct Authority (FCA) recently wrapped up its investigation into Wellesley & Co Limited (WCL). They confirmed that they won’t take any further action. The FCA launched the investigation into WCL in 2022. This followed the entrance of Wellesley Finance Ltd (WFL), an unregulated entity, into a Company Voluntary Arrangement (CVA). They announced the…
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Legal Challenge to Bond Tape Provider Contract Stirs Fintech
Recent news highlights a legal challenge to the bond consolidated tape provider’s contract. The awarding body has acknowledged this challenge, illuminating their decision-making process. They implemented a transparent, competitive two-stage process. This approach aimed to ensure the selected provider could deliver a high-quality tape at the best value. The goal was to assure fairness and…
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Taunton man charged under Data Protection Act by FCA
An individual was recently charged for a data protection breach under the Data Protection Act. This landmark decision marks a critical milestone in the fight against cybercrime. Nicholas Harper, a 26-year-old resident of Taunton, admitted guilt on Monday 1 September. However, he was cleared of additional charges of fraud and unauthorised business offences. The Financial…
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FCA Launches £1m Campaign for Motor Finance Customers
The Financial Conduct Authority (FCA) is launching a £1 million awareness campaign. The campaign’s goal is to educate motor finance customers about their ability to directly access a proposed industry-wide compensation scheme. Importantly, they can do so without the need for a claims management company (CMC) or law firm. Given the rising complexity of financial…
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Canadian Accountants Embrace Digital Shift, Xero Report Reveals
In this era of economic uncertainty, Canadian accounting practices are boldly moving forward. The State of the Accounting Industry Report by Xero credits this boost in confidence to a decisive move towards advisory services and accelerated technology adoption. The report uncovers that a remarkable 80% of practices feel positive about the future. This optimism stems…
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APAC Leads Global Surge in Cryptocurrency Adoption
The Asia-Pacific (APAC) region continues to strengthen its role as a significant hub for cryptocurrency innovation and adoption. Chainalysis provides recent insights, revealing a remarkable surge in on-chain activity in the area. Furthermore, this growth is speeding up at an unparalleled rate. By July 2022, APAC’s total on-chain activity had reached $81 billion. Yet, by…
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Taunton Man Convicted for Breaching Data Protection Act
Recently, a Taunton-based individual was convicted for breaching the Data Protection Act, underscoring the importance of data confidentiality. Nicholas Harper, 26, admitted to aiding or abetting an offence. The Financial Conduct Authority (FCA) initiated this prosecution. Breaching the Data Protection Act is a grave offence, serving as a warning to others to protect sensitive information…
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FCA Chief Economist Suggests Risk Rebalance for UK Growth
In a recent speech, Kate Collyer, the Chief Economist of the Financial Conduct Authority (FCA), highlighted a significant stagnation in financial sector productivity over the past decade. She made this announcement at the Warwick Business School’s event titled “Financial Regulation in Support of the UK’s Growth”. Moreover, she pointed out that the UK’s economic growth…
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FCA Launches £1m Campaign for Motor Finance Rights
The Financial Conduct Authority (FCA) intends to pour £1 million into a campaign. This campaign aims to enlighten motor finance customers about their entitlement to an industry-wide compensation scheme. Importantly, customers can access this without needing a claims management company (CMC) or law firm. Primarily broadcast on radio, the campaign underscores the regulator’s dedication to…
