Latest opinions that Barley Laing has shared on Finextra

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Barley Laing

UK Managing Director

Melissa

Member since

28 Jan 2019

Location

London

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Barley's opinions

How can fintech SMEs ensure compliance with industry-wide regulations?

The financial services industry must ensure compliance with a plethora of national and international regulations, particularly those related to KYC and AML, which can be very costly in terms of both time and money. Existing regulations and the pipeline of new directives pose a potential issue for start-ups and SMEs because they often don’t have th...

17 September 2019 /regulation Banking Strategy, Digital and Transformation

Time to prepare for the Fifth Anti-Money Laundering Directive

Hot on the heels of the Fourth Anti-Money Laundering Directive (4AMLD), the fifth version (5AMLD) is set to become law throughout the EU on 10 January 2020. With a focus on strengthening transparency rules, this mandate will further deter the concealment of funds and enable the EU to remain one step ahead in the fight against financial crime. 5AML...

16 August 2019 /regulation Banking Strategy, Digital and Transformation

Think compliance is expensive? In the age of open banking, it’s your smartest investment

In an increasingly competitive mobile-first world, it’s time for banks to be ethical with the data customers entrust to them – obeying relevant rules and regulations, as well as leading the way in delivering best practices in customer service and convenience. Otherwise, customers will vote with their feet and take their business to those financial...

20 May 2019 /regulation Banking Strategy, Digital and Transformation

How can banks win against the tech and internet giants?

Innovation has not occurred at a rapid pace in banking as it has in other industry sectors. Over a year down the line from the introduction of open banking it’s only fairly recently that we have started to see the first signs of the innovation it promised in helping to improve services for customers in the digital age. One of the most prominent ha...

26 April 2019 Banking Strategy, Digital and Transformation

Preventing financial crime and delivering seamless customer onboarding - can you accomplish both?

Recent research points to an increase in financial crime as criminals take advantage of access to billions of compromised data records for sophisticated application fraud attacks targeted at financial institutions. The research we carried out with the AITE Group in 2018 found that 13 billion data records were stolen or lost in the US since 2013, wh...

08 April 2019 /regulation Banking Strategy, Digital and Transformation

Why delivering personalised communications is a must in financial services

Study after study highlights personalisation is what consumers increasingly expect from the brands they engage with. For example, research from Epsilon reveals that 80 per cent of consumers are more likely to do business with a company that offers personalised experiences. With online financial institutions that rises to 89 per cent, and for those...

13 March 2019 /retail Banking Strategy, Digital and Transformation

Is now the time for one global ID verification data source?

It is an inescapable fact that for effective ID verification, and therefore KYC and AML compliance, financial services companies need to access to billions of records in real-time to ensure adequate checks are made while onboarding a new customer, and deliver that all-important smooth customer experience. The issue is, if you are a financial servi...

22 February 2019 /regulation Banking Strategy, Digital and Transformation

Open banking opens the door to fraudulent activity. How can it be combatted?

Open banking not only opens up a world of opportunity for financial services companies seeking to improve the customer experience, but also presents a potential gold mine for fraudsters, particularly through identity fraud. With more financial institutions than ever before sharing customer data in the open banking world, some of it fraudulent, ther...

01 February 2019 /regulation Banking Strategy, Digital and Transformation

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