THINK Compliance - New article on the blog Instant Payment Compliance: A Strategic Overview for the finance sector. Moritz Moser-Böhm made the deep dive and knows a strategy how to meet instant payment compliance requirements. Read on and comment if you have questions towards Moritz Moser-Böhm https://bit.ly/49rRAbo #kyc #instant #payment #beyondsmartcompliance #pythagorassolutions
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Understanding upcoming regulations in their wider context can help payment service providers adopt a strategic approach to compliance.
How PSD3 and PSR will shape trends in EU financial services
ey.com
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Excited to share Deloitte's latest report on the EU payments landscape! 📊 It's so important to stay on top of the changes and challenges in this fast-moving industry. This report covers key trends, new regulations, and market insights, helping payment service providers stay compliant and competitive. Check out the full report for valuable insights - https://lnkd.in/edPYjMUu #Payments #Fintech #EU #Compliance #Innovation #Deloitte
Key players in the EU payments landscape, 2024 edition | Deloitte Luxembourg
deloitte.com
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As an ex-FCA Supervisor, Thistle Initiatives Anthony Corner talks about what lies beyond the bare essentials of regulatory compliance. These are very important considerations, and will give your business the best chance of regulatory reslience.
In the ever-evolving regulatory landscape, payment services and e-money firms must go beyond simply meeting the Financial Conduct Authority (FCA) requirements if they are to ensure compliance and stability. Here are some essential strategies to thrive: 1. Capital Reserves: Exceed the FCA’s minimum requirement to signal robustness and avoid unwarranted scrutiny. 2. Safeguarding Accounts: Expedite by securing a bank’s intent letter before authorisation. 3. Competent Leadership: Ensure your team has proven industry expertise. 4. Local Accountability: Key decision-makers should be UK-based for better compliance. 5. Outsourcing: Keep strategic decisions in-house while outsourcing non-core functions. 6. Adapt to Case Officers: Flexibility in dealing with individual styles can smooth interactions. 7. Automation: Implement scalable automated processes to maintain efficiency. By adhering to these unspoken rules, your firm can navigate FCA regulations effectively, fostering resilience and growth. 🛡️📈 Read the full blog here for more details: https://hubs.la/Q02KqxMR0 #FCA #Compliance #PaymentServices #EMoney #Fintech #Regulations #FinancialServices #Leadership #Automation
Navigating FCA Requirements: Unspoken Rules for Payment Services and E-Money Firms
thistleinitiatives.co.uk
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Understanding upcoming regulations in their wider context can help payment service providers adopt a strategic approach to compliance. Learn more: https://ow.ly/zbuX30sC6L6 #EYCanada #BetterWorkingWorld
How PSD3 and PSR will shape trends in EU financial services
ey.com
-
In the ever-evolving regulatory landscape, payment services and e-money firms must go beyond simply meeting the Financial Conduct Authority (FCA) requirements if they are to ensure compliance and stability. Here are some essential strategies to thrive: 1. Capital Reserves: Exceed the FCA’s minimum requirement to signal robustness and avoid unwarranted scrutiny. 2. Safeguarding Accounts: Expedite by securing a bank’s intent letter before authorisation. 3. Competent Leadership: Ensure your team has proven industry expertise. 4. Local Accountability: Key decision-makers should be UK-based for better compliance. 5. Outsourcing: Keep strategic decisions in-house while outsourcing non-core functions. 6. Adapt to Case Officers: Flexibility in dealing with individual styles can smooth interactions. 7. Automation: Implement scalable automated processes to maintain efficiency. By adhering to these unspoken rules, your firm can navigate FCA regulations effectively, fostering resilience and growth. 🛡️📈 Read the full blog here for more details: https://hubs.la/Q02KqxMR0 #FCA #Compliance #PaymentServices #EMoney #Fintech #Regulations #FinancialServices #Leadership #Automation
Navigating FCA Requirements: Unspoken Rules for Payment Services and E-Money Firms
thistleinitiatives.co.uk
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Mining and Renewable energy passionate | Proficiency in emerging and complex markets | Partner, Assurance at EY
Understanding upcoming regulations in their wider context can help payment service providers adopt a strategic approach to compliance. Learn more: https://ow.ly/jokp30sC0e8 #EYCanada #BetterWorkingWorld
How PSD3 and PSR will shape trends in EU financial services
ey.com
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Partner at EY, Leader of Tax Technology and Transformation practice. Helping clients to drive an efficient tax function.
Understanding upcoming regulations in their wider context can help payment service providers adopt a strategic approach to compliance. Learn more: https://ow.ly/ZTgn30sC43w #EYCanada #BetterWorkingWorld
How PSD3 and PSR will shape trends in EU financial services
ey.com
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📢 Important update on the Instant Payments Regulation (IPR)! Regulation (EU) 2024/886, commonly referred to as the Instant Payments Regulation (IPR), entered into force in April 2024, bringing significant changes to the SEPA Regulation. This regulation introduces new mandatory requirements for instant credit transfers in Euro, impacting Payment Service Providers (PSPs) located in the European Economic Area (EEA). These requirements will enter into effect starting on 9 January 2025 and 9 October 2025, and initially affect credit institutions based in the Euro area. 🔍 The European Payments Council confirms that the 2023 SEPA Instant Credit Transfer (SCT Inst) scheme rulebook is ready to meet the January 2025 IPR deadline. No further changes are needed for compliance. 📅 For the obligations coming to effect in October 2025, the 2025 SCT Inst rulebook and related guidelines will be published by November 2024. Note that these rulebooks will already be in effect from 5 October 2025, providing a shorter implementation period. Read more here: https://lnkd.in/e6aiTEbN
Key Impacts of the Instant Payments Regulation on the 2023 SCT Inst Scheme Rulebook and Upcoming Changes
europeanpaymentscouncil.eu
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The U.S. Faster Payments Council's latest reports provide a roadmap for financial institutions to implement ISO 20022. Discover how this global standard can transform your payment processes. https://bit.ly/3Uk9icc
U.S. Faster Payments Council Releases Dual Reports on ISO 20022 Implementation and Benefits
fasterpaymentscouncil.org
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As payment innovations continue to disrupt finance, implemented regulations will have the task of balancing safeguards for consumers and allowing payment innovation to thrive. When we look at what’s been done so far, how have regulators done so far in accomplishing this? In Finance Magnates, Pedro Ferreira takes a detailed look at the regulatory impacts on payment innovations and what the future is shaping up to be. #Payments #Finance #Regulation #BusinessTransformation
Regulatory Impacts on Payment Innovations: A Global Perspective
financemagnates.com
