In Ray’s review of 2016, he highlighted some key events and topics that have not only impacted the FinTech landscape this year, but also served to provide some interesting new opportunities and innovations for 2017 and beyond. These topics were diverse and included the DOL Fiduciary Rule, Block Chain and Robo Advisors. In this post, I want to provide you with some insight and predictions for the FinTech space in 2017 based on the trends we saw in 2016.
Earlier this year, the Financial Crimes Enforcement Network (FinCEN) finalized a new rule that requires firms to have more comprehensive Anti-Money Laundering programs. With the new rule, firms are now required to verify two types of natural persons for qualifying legal entity customers:
Since the early 2000s firms have had to establish an Anti-Money Laundering (AML) program that was built on four key elements:
Topics: Industry News
As the “go live” date for the T+2 accelerated settlement initiative draws near, everyone is busy preparing their firms for the shortened settlement period. Assuming you have downloaded the T+2 Playbook from SIFMA, you probably already know about the main impacts the new policy will have on the broker/dealer community, which can be categorized into two buckets:
This post originally appeared as a guest blog post for SIGNiX.
As Ray mentioned in his recent blog post about the past year in financial services, there have been numerous exciting changes in terms of the products and services that are available to the financial consumer. When we look ahead to 2016, we see some immediate and long-term challenges that will face all of us. Let’s take a look at some of the more significant ones and what you can do to prepare.