Credit Suisse has been hit with a £147 million penalty by the Financial Conduct Authority, as part of a $475 million global resolution agreement, for serious financial crime due diligence failings related to loans worth over $1.3 billion, which the bank arranged for the Republic of Mozambique.

Source: FCA

Due to the coronavirus (Covid-19) pandemic, firms are already familiar with working in a remote environment and adapting their systems and controls.

Source: CapGemini

Payments are entering a new experience-driven era (Payments 4.X[1]), ushered in by an accelerated transformation timeline due to COVID-19 and the growing digital appetite of customers, according to the World Payments Report 2021 published today by Capgemini.

Source: Federal Reserve

The Federal Reserve Board on Monday announced that the Federal Reserve Banks will adopt the ISO 20022 message format for the Fedwire Funds Service.

Source: Fintech Australia

FinTech Australia has released a new tool for early-stage fintechs and global fintechs expanding into Australia, offering clear guidance on financial services licensing in Australia and which government bodies are responsible for managing them.

Source: Glue42

North Rock Capital, an investment management firm built upon a global multi-manager investment platform, has selected Glue42, the company that delivers integrated desktop experiences to financial institutions globally, to serve as the foundation to its next-generation trading and risk platform.

The Financial Conduct Authority is working with the Bank of England on a blockchain-based digital regulatory reporting initiative to tackle the growing costs of compliance checks.