Good AML policies start with transaction monitoring by operators but the burden and operational risks are growing, and the success rate is low. Operators, mostly banks are increasingly cooperating with each other to exchange best practice in monitoring, and with the Financial Intelligence Units to avoid reporting of false positives and facilitate enforcement. This however raises huge problems about data exchange and protection, free competition and division of competences.
This second meeting of the ECRI Task Force on FinTech places the focus on the most adequate level playing field to ensure a successful digital transformation and on the opportunities and risks of use of alternative...
CEPS - Centre for European Policy Studies 1 Place du Congrès / Congresplein 1000 Brussels
To review these issues and consider the challenges of transaction banking, the seminar will discuss the role transaction banking plays in serving the real economy, the current regulatory agenda and the new perspectives transaction banking could give to the Transatlantic Trade and Investment Partnership (TTIP), and vice versa, in terms of finding a level playing field.
CEPS - Centre for European Policy Studies 1 Place du Congrès / Congresplein 1000 Brussels
In the past fifteen years, remittances have largely outpaced global development aid. Their amount has also increased significantly within the EU, reaching €31.2 billion in 2010. The event chaired by Staffan Jerneck (CEPS) focused on the specifics of remittances in the EU’s single market, most importantly on challenges ahead to achieve higher efficiency.
CEPS - Centre for European Policy Studies 1 Place du Congrès / Congresplein 1000 Brussels
With the electronic payments market growing rapidly, the European legislators are facing a challenge in promoting market integration without stifling the needed innovations.
CEPS Conference Room 1, Place du Congrès - 1000 Brussels
In a context of rising competition and increasingly exigent consumers, established banks and newcomers are using enabling digital technologies to develop new products, processes and...
CEPS Conference room Place du Congrès 1 - 1000 Brussels
As revealed by the study on FinTech recently completed by CEPS-ECRI for the European Commission DG FISMA, the number of technological options for consumer authentication in payments is increasing at a steady pace and has vast implications for the KYC (know-your-customer) and AML (anti-money laundering) processes.
The European Credit Research Institute (ECRI) is a think-tank managed by CEPS and has its own board with its own strategy. At present, its funding is based on some combination of research projects and membership fees. ECRI is supported by 10 prestigious members whose primary focus is on payments and consumer loans: