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Ant Group is resisting pressure from China's government to hand over more customer data to the country's central bank, according to the Financial Times. 
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India's central bank has fined at least 19 lenders, including top banks such as ICICI Bank and State Bank of India, for failing to comply with its guidelines on the use of global payments network SWIFT.
Vineet Anand's insight:
RBI fines 19 banks for lack of compliance for SWIFT use. Fines are relatively small.
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State financial regulators in the US have approved an action plan to streamline the experience of fintech startups setting up shop across multiple jurisdictions.
Vineet Anand's insight:
CSBC to implement 14 actions stemming from the panel to support Fintech start-up growth in the US be streamlining the sporadic efforts required to be made in 50 states. These include MSB licenses, which is a painful multi-year activity for some start-ups.
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The Monetary Authority of Singapore is consulting on new proposals to expand its regulatory oversight of bank outsourcing arrangements.
Vineet Anand's insight:
Bank outsourcing arrangements under the regulatory lens of MAS with rights to audit and suspend operations of third party providers!
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German payments enabler Wirecard has hit back at allegations in the Financial Times of false accounting at the company, a claim which resulted in a 25% plunge in the company's share price.
Vineet Anand's insight:
FT news report rebuffed by Wirecard results in 25% share price plunge!
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UK consumers' association Which? has hit out at much of the banking industry for failing to protect online customers with two-factor authenticatio
Vineet Anand's insight:
2FA for payment providers in September will push adoption, however a number of banks are hesitant driven by potential friction in customer experience!
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India’s largest bank has secured an unprotected server that allowed anyone to access financial information on millions of its customers, like bank balances and recent transactions. The server, hosted in a regional Mumbai-based data center, stored two months of data from SBI Quick, a text mess…
Vineet Anand's insight:
SBI Quick unprotected sever exposed data on return messages!
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Finextra: In the wake of the Paris attacks, France's finance minister, Michel Sapin, says that European authorities need better access to Swift data in the fight against terrorism.
Vineet Anand's insight:
Bitcoin, other virtual currencies, pre-paid cards, and now SWIFT payments data access and controls will change at a rapid pace for greater transparency post Paris attacks!
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Finextra: PayPal has agreed to pay $7.7 million to settle charges from the US Treasury that lax screening technology saw the firm violate multiple sanctions programmes.
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Curated by Vineet Anand
Payment Industry leader passionate about Fintech, Innovation in Banking, Product Management & Strategy, driving revenue growth through client management, business development and P&L focus.
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Payments Ecosystem
The Payments ecosystem is evolving at an unprecedented pace driven by mobile, cloud computing, start-up's challenging the behemoths, and new technologies. My personal collection of curated stories and blogs.
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Ant push back on sharing data quoting customer consent for privacy reasons - will Ant eventually give-in?