Cross-border banking and payment services in the EU are being held back by a lack of regulatory clarity and harmonisation, says the European Banking Authority (EBA). The rise of digital services should help established and newcomer providers reach more people, including across borders, says the EBA in a report developed under its Fintech Roadmap. However, concludes the report, the promise is not being fully realised within the EU, in part […]
an article written by Nitin Purwar, senior functional architect at UiPath. Over the last ten years, I’ve had dozens of conversations with banking colleagues about regulatory compliance. As regulatory complexity increases, banks are still scrambling to figure out how to get compliance under control. According to Forbes, banking regulatory costs will rise from 4% to 10% of banking revenue by 2021. Hiring more people to reduce regulatory burden isn’t a solution to the […]