US banks are opening themselves up to increased strategic risk by moving into new products and services as a way to take on emerging fintech rivals, warns the Office of the Comptroller of the Currency (OCC) in a report which also highlights the threat of cyber attacks and an increased reliance on third-party tech service providers.

During its meeting on 5 July 2017, the Federal Council adopted an amendment of the Banking Ordinance. It will enter into force on 1 August 2017. The revision should ensure that barriers to market entry for fintech firms are reduced and that the competitiveness of the Swiss financial centre is enhanced.

Britain’s SMEs are shifting the billions spent each year on hiring traditional experts, such as legal and procurement consultants, to leverage the skills required to survive in an increasingly digital world, including those for cybersecurity and new payments technology.

Incorporated in Switzerland on May 16, 2017, the non-profit International RegTech Association (IRTA) is a united community of individuals and organizations, with a shared vision to innovate, advance, and influence the future of Regulatory Technology (RegTech).

Several Ukrainian banks are understood to have been affected by what appears to be a coordinated ransomware cyberattack targeting firms around the world. The Ukrainian central banks says that a number of banks in the country are "having difficulties with client services", while media reports say that the Kiev metro system is not accepting card payments.

Fintech is still too small a chunk of the global financial system to present a compelling stability risk but the sector's fast-paced development means that international regulators should collaborate closely to guard against future risks, says a new report. Put together by the international Financial Stability Board (FSB), the report identifies 10 fintech-related areas that "merit authorities' attention".

As the 4th EU AML Directive comes into force today, a pair of studies suggests that while most UK FS industry financial crime professionals think the new rules will make it easier to prevent money laundering, they are likely to cost banks millions in inefficient KYC checks.