Weekly Analysis And Opinion Highlights – 8 August 2022

And we’re kicking off the week with new analysis and opinion on fintech regulations, crypto, e-comerce and more. Dive into the latest fintech insights and have a great start of the week!

Why sanctions screening is imperative (RegTech Analyst)
Since the onset of the Ukraine-Russia war, sanctions have been in the news on an almost daily basis. Why is the screening of sanctions so important? In a recent post by Sentinels, the company went into greater detail on the topic of sanctions screening and why they are so important. With the definition of sanctions broadening and becoming more open to interpretation, this is making it more difficult for all companies to effectively identify and manage their sanctions risks. Read more


Tradeteq: How Technology Could Enable Banks To Avoid the Lending Crisis of Basel IV (The FinTech Times)
The implementation of Basel IV is set to commence in January 2023 and, with the clock ticking, firms are grappling with their plans. However, Basel III has already placed tight restrictions on banks active in trade finance lending and so the worry is, without adequate preparations, Basel IV will further amplify the problem. The European Commission and the Bank of England later pushed the EU and UK deadlines back to 2025 amidst concerns that banks’ ability to lend is crucial to post-pandemic recovery, so more time was needed to prepare. Read more


There’s always another nightmarish crypto hack around the corner (Fintech Crunch)
The world of crypto can be a cruel and unforgiving place, and while VCs and crypto hedge funds have been happy to bail out institutions, sometimes consumers dabbling in the space find themselves left out in the cold. This week, a couple of pretty high profile hacks cost crypto investors millions, but it was the smaller, more mysterious one that likely left newbie buyers clutching their private keys and praying for the best. Read more


How e-signatures and digital forms help level up customer experience (RegTech Analyst)
The prioritisation of end-to-end digital transformation is arriving. With the digital era evolving by the year, customer experience is becoming more and more vital. In a recent post by Smart Communications, the company outlined how e-signatures and digital forms are helping to level up customer experience. The company highlighted that over the last few years, consumers have been accustomed to the ease of use and convenience of digital CX superpowers like Amazon, Uber, Netflix. Many consumers now have more control than ever, and are taking charge of how they interact with companies. Customers are now expecting tailored experiences from every company they do business with. Read more


Growth Remains Top Driver for SME Financing Amid Economic Uncertainty (The FinTech Times)
As small businesses face mounting economic uncertainty, their demand for finance has risen sharply, with 77 per cent feeling worried about the possibility of recession; according to iwoca‘s latest quarterly SME Expert Index. iwoca’s Q2 2022 SME Expert Index is based on insight from UK brokers who collectively submitted over 1350 applications for unsecured finance on behalf of their SME clients in June. With both the cost of living and of doing business climbing, over three-quarters of brokers surveyed say their small business clients are ‘worried’ about the possibility of a recession. By contrast, fewer than seven per cent of brokers reported their SME clients as ‘unconcerned’. Read more


How RegTech is changing the customer experience (FinTech Global)
In an age where more people are online than ever before, the need to offer a strong and efficient digital customer experience is vital. How is RegTech playing a part in this? For the recent discussion with Melanie Wright, director, strategic integration, regulatory strategy & delivery, personal & commercial Banking, at RBC, Emma Kempton, who is global head of customer success at Clausematch and Lindsey Brown, who is client success manager, enterprise at Clausematch, North America about the key challenges for compliance automation in the medium to long term and many more – read more


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