Latest long reads: Finextra Research

Hamish Monk Reporter at Finextra

How to prepare for DORA

As the result of a partiality for fierce innovation, the financial sector is increasingly dependent on technology to deliver its offering. The sector has therefore become highly vulnerable to cyber-attacks and other digital ‘slip-ups’. If not handled correctly, a compromised IT system could spark a knock-on disruption to financial services, the co...

16 May 2024 /regulation

Reverse solicitation: Is this the end to license-free provision of financial services?

Renate Prinz Partner at McDermott Will & Emery LLP

Reverse solicitation: Is this the end to license-free provision of financial services?

The reverse solicitation rule has become increasingly important in the cross-border financial services sector since Brexit. In short, it enables the cross-border provision of financial services or the granting of loans without the necessary authorisation in the recipient country if the service is requested at the customer’s exclusive initiative. F...

15 May 2024 /regulation

Hamish Monk Reporter at Finextra

How to leverage quantum computing

Earlier this year, researchers devised a breakthrough method for creating supremely pure silicon – the fundamental material in quantum computers. Imperfections in existing silicone mean that today’s quantum computers can maintain coherence (or more simply, operation) for only a fraction of a second. This newly-created, ultra-pure element sustains ...

14 May 2024 /devops

Greenhushing: How will it impact sustainability efforts in financial services?

Sehrish Alikhan Reporter at Finextra

Greenhushing: How will it impact sustainability efforts in financial services?

We have all heard of greenwashing – when companies lie or exaggerate their sustainable efforts to gain ESG brownie points and falsely reassure customers of their dedication to the environment, there is a new term that companies are getting the hots for called greenhushing. This terrible name for an even worse activity is when companies simply will...

13 May 2024 /sustainable

Ukraine’s crypto adoption: Why alternative finance is increasingly vital

Hamish Monk Reporter at Finextra

Ukraine’s crypto adoption: Why alternative finance is increasingly vital

For those well-read on the economic and financial pressures induced by conflict, it will come as no surprise that Ukraine ranks highly in CryptoCasino’s recent survey of cryptocurrency adoption globally. Researchers analysed each country against four key metrics: percentage of the population holding cryptocurrency, the cost and profit of mining o...

10 May 2024 /crypto

Hamish Monk Reporter at Finextra

How to recover from a data breach

On 7th May, several China-sponsored cyber-attacks on the Ministry of Defence (MoD) compromised data from its outsourced payroll system, SSCL (a subsidiary of Paris-based Sopra Steria) – exposing the names and banking information of 270,000 past and present military personnel from the Royal Navy, Army, Royal Air Force. In the wake of this news, Fin...

09 May 2024 /security

Open banking next step: A request for public input on how to structure the 'Future Entity'

Chris Holmes Peer at House of Lords

Open banking next step: A request for public input on how to structure the 'Future Entity'

The Joint Regulatory Oversight Committee (JROC) consists of the Financial Conduct Authority (FCA), Payments Systems Regulator (PSR), HM Treasury (HMT) and the Competition and Markets Authority (CMA), and is tasked with realising the full potential of open banking. To this end, they have published recommendations for the next phase of open banking...

08 May 2024 /regulation

The ICO’s new regulations on biometric technology in the workplace

Chris Cook Partner at SA Law LLP

The ICO’s new regulations on biometric technology in the workplace

When someone mentions biometric technology, many of us still visualise the futuristic utopias popularised in movies such as Minority Report, or Blade Runner. Yet biometric technology is very much commonplace in today’s world – particularly from a consumer perspective. We are using facial recognition systems to gain access to our smartphones, voice ...

07 May 2024 /regulation

Levelling the playing field for sustainable, green investments

Scott Hamilton Contributing Editor at Finextra Research

Levelling the playing field for sustainable, green investments

“Our point is now, the real place this world is going is not back to 1950. In fact, we're going to a clean world, a sustainable, a healthy world, and a safe world. That's where we're going. And it's inevitable. So, you might as well get on the train and make some money.” That’s Tom Steyer’s message, in response to an audience question on the role ...

03 May 2024 /sustainable

Understanding ethical AI: Why financial services are leading the charge

Hamish Monk Reporter at Finextra

Understanding ethical AI: Why financial services are leading the charge

Unlike the preceding technological revolutions of history – perhaps with the exception of the third, computation – artificial intelligence has the potential to move into almost any industry and, critically, supplement or replace white collar work. There is no precedent for a technological development of this size, which is why the battle plans of ...

03 May 2024 /regulation

US Federal Reserve leaves interest rates unchanged, what’s next for banks and customers?

Scott Hamilton Contributing Editor at Finextra Research

US Federal Reserve leaves interest rates unchanged, what’s next for banks and customers?

With the US Federal Reserve’s announcement Wednesday to hold interest rates steady at a target benchmark of 5.25-5.50%, broad implications of this decision are starting to line up across the financial services arena. Continuing at the highest level since 2001, current rates are being held in place by the central bank board because of what they cal...

02 May 2024 /markets

Top payments stories you missed in April

Sehrish Alikhan Reporter at Finextra

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