Szerző: NÉMETH MONIKA

Regtech might have great impact on business case

We see a whole new sector growing up. The name comes from the marriage of regulation and technology, however foreseeing what it means for financial companies is more comprehensive.   In the financial industry the level of regulation is continuously increasing and is not only a great cost factor, but affects the working processes and innovation capabilities of the financial companies, moreover the flexibility and efficiency of their work. Since data and reporting are in the focus of the regulator as of today, big data analytics and risk management tech companies have a momentum to further develop and offer...

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Why APIs are such a hot topic today? New revenue source or just another hype?

Open Access to payment accounts (XS2A) must be ensured by an open standardized way which means APIs in practice –  says the PSD2 Directive. With regard to business opportunities this is the most promising requirement even more a driver in PSD2 FinTechGroup experts believe.   APIs have been available in the banking sector for about 10 years. We also find payment applications or solutions development platforms opened to developers in the banking sector for several years.  Payment APIs have grown by almost 2 000% since 2009, with financial APIs growing at more than 470% during that time.(source:http://banknxt.com/55745/uk-open-banking-api-framework/) Why is...

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What will the consumers and the new market entrants benefit from the FCA new, experimental regulatory practice?

Innovation Agencies throughout Europe are still looking very closely at Israel’s start-up incubation methodologies and try to adopt them to their own respective economies. FCA introduces diverse techniques, methods to cooperate with the market and with the consumers to create a consumer,- and market-friendly regulatory environment  which further boosts the economy and innovation. We wonder, if FCA would reach the same position in financial regulation as Israel gained in incubation.  Definitely should…   The financial sector – as we all see – is transforming into digital rapidly and even at wider spectrum. The new, often disruptive solutions mean great challenges...

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PSD2 –Is it another compliance requirement or could it be turned into new business opportunities?

We have analyzed the Directive and had talks with several international and domestic experts in the banking sector and also with EU regulators and at FintechGroup we strongly believe that PSD2 will give fresh air to the financial services market in general. PSD2 is a work-in-progress EU Directive to be implemented in the domestic legislations by January 18, 2018. This regulation will shape the digital financial market, since it frames the rules for the new and traditional players. The rules PSD2  introduces will result in a much lower entry barrier to the sector which will enhance competition and further...

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