Insights Archive

May 26, 2022

A Tectonic Shift: Bigtechs, Fintechs Make Up One-Third Of Total Financial Services Industry Value

Bigtechs, merchants and fintech companies now account for 35 percent of the total financial services industry value, shrinking the position of incumbent players and creating a new wider financial services market, says Oliver Wyman.

May 26, 2022

Take Action On Climate Change Or Face 15 Percent Profit Loss, BoE Warns

The Bank of England (BoE) has told financial institutions that unless they step up their work to deal with the burgeoning climate crisis, climate risks could trigger a “persistent and material drag on their profitability”.

May 26, 2022

PSR Outlines New Confirmation Of Payee Plans

The UK's Payment Systems Regulator (PSR) is extending the Confirmation of Payee (CoP) scheme, which means around 400 more financial firms will be required to introduce the payment protection measure.

May 26, 2022

Long Waits, Big Fees: APP Fraud Victims Face Barriers Getting Through To Banks

UK scam victims face half-hour waits and hefty call fees when they call their bank's fraud lines, consumer group Which? has revealed.

May 26, 2022

SWIFT Nears Completion Of Cross-Border CBDC Payments Study With Capgemini

SWIFT, the global interbank messaging system, has almost completed its latest round of experiments on cross-border central bank digital currency (CBDC) payments with the help of French IT firm Capgemini.

May 26, 2022

Malta Firms Face Financing Struggles

Malta’s tarnished financial reputation is making life difficult for operators seeking funding, but at least one major player says it remains committed to the island.

May 26, 2022

India Committee To Propose National Online Gaming Regulator

India’s central government has established a cross-ministry committee to explore the national regulation of online gaming, a potentially seismic development that could augur a shift to liberalisation across much of the country.

May 26, 2022

Ontario Set To Squeeze Suppliers Assisting Grey Market

Ontario regulators have helped guide operators and suppliers through their transition from the grey to regulated online gaming market in the provinces, but are now expected to pressure newly registered suppliers that continue to service both the licensed and offshore segments.

May 26, 2022

Danish Problem Gambling Rate Doubling Dismays Government

Danish lawmakers will discuss new measures to tackle gambling addiction and a local trade group has announced several changes, after a new report revealed that the number of people with gambling problems has more than doubled since 2016.

May 26, 2022

Lopsided Vote Boosts Momentum For $1.7bn Bally's Casino In Chicago

Chicago took a giant step toward becoming the largest city in North America with a full casino-resort after the Chicago City Council on Wednesday overwhelmingly approved Mayor Lori Lightfoot’s recommendation of Bally’s Corporation to develop a $1.7bn project in the Windy City.

May 26, 2022

News In Brief: May 23-May 27, 2022

The Queensland state government has introduced a new casino control bill in response to the fallout from other state inquiries that have eviscerated management at Crown Resorts and The Star Entertainment Group.

May 25, 2022

Fed Issues Final Rule On FedNow Transfers

The Federal Reserve (Fed) has finalised a rule for payment transfers over its forthcoming FedNow service, discussing fraud prevention and what “immediate” payments mean.

May 25, 2022

Sweden Completes First Phase Of Migration To TIPS

Sweden's central bank, the Riksbank, has successfully completed the first phase of the migration to TARGET Instant Payment Settlement (TIPS), paving the way for the instant settlement of payments in Swedish kronor.

May 25, 2022

New Zealand: New Retail Payments Act To Impose Interchange Controls On Visa, Mastercard

A new payments act passed earlier this month will ensure that interchange fees in New Zealand are more tightly controlled, as a result of a long-awaited move by the country’s regulators.

May 25, 2022

Crypto ’Not Practical’ For Payments, But CBDC Could Offer Solution, Says BoE’s Bailey

Andrew Bailey, governor of the Bank of England (BoE), has cast doubt on the idea that crypto could evolve into a mass payments solution, while suggesting instead that central bank digital currency (CBDC) is a more likely candidate.

May 25, 2022

Schrems III? Max Schrems Expresses Concerns About New EU-US Data Sharing Agreement

Details about the new EU-US data transfer mechanism raise more questions about the stability of the adequacy agreement, Schrems has said in an open letter to the EU’s data protection institutions.

May 25, 2022

Iowa Governor To Consider Two-Year Casino Moratorium, Cashless Gaming

Iowa Republican Governor Kim Reynolds is preparing to review a gaming bill passed by lawmakers that would impose a two-year moratorium on any new casinos in the state while permitting cashless gaming on casino floors.

May 25, 2022

German States Committee Oversight Of Gambling Called 'Chaotic'

The fact that German sports betting and online slot game regulators can currently be overruled in licensing decisions by the 16-member Gambling Committee is “chaotic and stupid”, a gambling attorney has said.

May 25, 2022

Massachusetts Sports-Betting Conference Committee Faces Daunting Task

A six-member conference committee appointed last week has a difficult task ahead of it in bridging the gap between two dramatically different sports-betting bills approved in Massachusetts to find a solution both the House and Senate can agree on.

May 25, 2022

Polish Lawmakers Call On Government To Introduce GGR Tax

A group of cross-party Polish MPs has joined repeated calls for the government to move away from a turnover tax they claim is pushing bettors to the black market.

May 24, 2022

Norway’s Central Bank Confirms CBDC Testing

Norges Bank, the Norwegian central bank, has said in its Financial Infrastructure 2022 report that the testing phase for its central bank digital currency (CBDC) will run until 2023, while also joining international colleagues in calling for more crypto regulation.