Is the increased regulatory activity around buy now, pay later good news or bad for the financial services industry? Heather McKenzie reports. 

Keeping up with fast-moving fintech innovation has proven difficult for the world’s financial supervisors, which has led to turmoil for customers and investors.

Forecasts of a collapse in the value of the fintech market are probably premature, according to many in the industry.

The cost of electronic fraud topped £1bn in 2021 for the UK alone. What more can be done to stem the tide? 

As a region that has long led the way in fintech innovation, Asia’s mature stance on crypto development is unsurprising. 

Many argue that the likes of bitcoin can help displaced people access financial services, but others are more sceptical. 

Many see KYC and AML compliance as a box-ticking exercise and a colossal waste of time that does very little to stop financial crime at its source. 

The biggest challenge emerging from RBI’s Payments Vision 2025 is the push to facilitate domestic processing of payments transactions, as well as the move to ISO 20022 standards.

Banks and building societies in the UK will be required to assess the impact of changes to their services such as shorter branch opening times and the shuttering of branches.