This presentation focuses on the balancing act between innovation, safety and soundness of digital financial services as well as steps to support consumer protection. It also includes a review of the current guidelines and a checklist format to guide regulators and policy makers to compare their own regulations, policies, environments and supervisory capacity in relation to emerging developments in the field of DFS.
Financial crime hot topics: DPA's and Correspondent BankingBovill
At our February briefing in London, we looked at the evolution of and practical approaches to two current hot topics, Deferred Prosecution Agreements (DPAs) and Correspondent Banking.
Another year has gone by and the FCA’s combined Business Plan and Risk Outlook has been released… So what’s new and what does it mean for your firm?
Our briefing walked through the key messages of the document and took a look back at 2015’s release. We also explored what you might need to be doing differently in the year ahead.
The European Banking Authority are proposing to change fundamentally the prudential landscape for investment firms. In this briefing we looked at these proposals for strategic context around the update to your 2016 ICAAP.
Presentation by Frédérique Six at the OECD Workshop on “Joint Learning for an OECD Trust Strategy” on 14 October 2013. Mr. Six discusses effective regulation, the trust triangle, compliance and a trust regime.
This presentation was delivered at the ISO 37001 & Anti-Bribery PECB Insights Conference by Ralph Haddad, Global Compliance Leader at Anti-Corruption at CAE Inc.
Financial crime hot topics: DPA's and Correspondent BankingBovill
At our February briefing in London, we looked at the evolution of and practical approaches to two current hot topics, Deferred Prosecution Agreements (DPAs) and Correspondent Banking.
Another year has gone by and the FCA’s combined Business Plan and Risk Outlook has been released… So what’s new and what does it mean for your firm?
Our briefing walked through the key messages of the document and took a look back at 2015’s release. We also explored what you might need to be doing differently in the year ahead.
The European Banking Authority are proposing to change fundamentally the prudential landscape for investment firms. In this briefing we looked at these proposals for strategic context around the update to your 2016 ICAAP.
Presentation by Frédérique Six at the OECD Workshop on “Joint Learning for an OECD Trust Strategy” on 14 October 2013. Mr. Six discusses effective regulation, the trust triangle, compliance and a trust regime.
This presentation was delivered at the ISO 37001 & Anti-Bribery PECB Insights Conference by Ralph Haddad, Global Compliance Leader at Anti-Corruption at CAE Inc.
Mortgage Servicing Transfers: Meeting the Operational and Regulatory DemandsRachel Hamilton
ACI) 3rd Bank and Non-Bank Forum on MORTGAGE SERVICING COMPLIANCE will keep you one step ahead of the new regulatory scrutiny and unparalleled networking opportunities. This conference will provide attendees with the latest insights and expert advice from our exceptional faculty.
The Relationship Between Insurance Companies and Outside Counsel Rachel Hamilton
Now, more than ever, attorneys and law firms must take action to ensure that they are protected from former disgruntled clients and third parties looking to recoup losses and/or share blame by bringing malpractice claims against attorneys.
This presentation by Competition Bureau Canada was made during a workshop on “Regulation and competition in light of digitalisation” held by the OECD in Paris on 31 January 2018. More papers and presentations on the topic can be found out at oe.cd/wrcd.
The Modern Slavery Supply Chain Risk Assessment Questionnaire brings together the human rights expertise of Norton Rose Fulbright, a global law firm*, with the ethiXbase 360 powerful
Third-Party Risk Management Platform to help your business identify, mitigate, and manage modern slavery risk and human rights abuses across your supply and manufacturing chains
The Modern Slavery Questionnaire uses five key indicators to
assess a supplier’s modern slavery risk:
1) Jurisdiction
2) Industry
3) Products
4) WorkForce
5) Risk-mitigating measures
This presentation by Mark Simpson, Partner, Norton Rose Fulbright, was made during the discussion “Blockchain and Competition” held at the 129th meeting of the OECD Competition Committee on 8 June 2018. More papers and presentations on the topic can be found out at oe.cd/2gx.
Implementing Anti Money Laundering and Fraud Rules in BankingTriVersa
This presentation describes various financial crimes functional challenges and how to define and construct effective rules in support of Anti-Money Laundering (AML) or Electronic Fraud scenarios.
It is useful to those working in traditional or digital Banking sectors; especially working in departments such as Internal control, Compliance, Monitoring or Investigation.
Professionals in compliance or technology functions such as internal Control officers, compliance officer, rules developers, compliance supervisors and team leaders will also benefit as it aims to provide insight into effective rules that ensures their Banking operations remain compliant in line with ever-evolving electronic fraud and AML patterns.
Later sections of the presentation also describe Dixtior Compliance Solution as an effective solution to detect and combat money laundering in any banking institution.
To download the document, visit www.thetriversa.com/article.php
Presentation from the OECD Roundtable on Equal Access to Justice, Latvia, 2018. For more information see: http://www.oecd.org/gov/equal-access-to-justice-oecd-expert-roundtable-latvia-2018.htm
This presentation by Prof. Hwang LEE from the Korean University School of Law was made during the discussion on "Sanctions in Anti-trust cases" held at the 15th Global Forum on Competition on 2 December 2016. More papers and presentations on the topic can be found out at www.oecd.org/competition/globalforum/competition-and-sanctions-in-antitrust-cases.htm
Compliance Officer update: What you should know about your Business Partner -...vivacidade
Compliance Officer update: This presentation shows why and how Compliance questionnaires are used in the context of the Third Party Compliance Due Diligence process. A proposal is made on key data and compliance information that should be obtained from the prospective Business Partner via self-questionnaire. It is the starting point for further analysis and background checks before a contractual obligation is concluded. The due diligence process should be designed to enable the identification of red flags.
This presentation by the Norwegian Competition Authority was made during a workshop on “Regulation and competition in light of digitalisation” held by the OECD in Paris on 31 January 2018. More papers and presentations on the topic can be found out at oe.cd/wrcd.
ISO Standards support for Anti-Bribery investigations and audits in the cyber...PECB
This presentation was delivered by Anders Carlstedt, CEO at Parabellum Cybersecurity Services at The ISO 27001 & Anti-Bribery PECB Insights Conference.
FCPA Enforcement Tends and Their Impact on Corporate Compliance ProgramsPECB
This presentation was delivered at the ISO 37001 & Anti-Bribery PECB Insights Conference by William Marquardt, Director at Berkeley Research Group LLC in Florida
This presentation by Barbara Rosenberg was prepared for a roundtable discussion on Criminalisation of cartels and bid rigging conspiracies at the 131st meeting of the OECD Working Party 3 on 9 June 2020. More papers, presentations and contributions from delegations on the topic can be found out at http://www.oecd.org/daf/competition/criminalisation-of-cartels-and-bid-rigging-conspiracies.htm
AllRegs History of CFPB and the Mortgage IndustryAllRegs
Do you work for a mortgage company, real estate company, or financial services organization? Are you having trouble understanding what the Consumer Finance Protection Bureau is and what it does? Are you having trouble explaining CFPB to your staff? View this colorful summary of the History of the CFPB and the Mortgage Industry to learn more!
FATF's June 2013 Guidance Note on a Risk Based Approach to Implementing AML/C...Louise Malady
Understanding and using FATF's June 2013 Guidance note of a Risk Based Approach to Implementing AML/CFT Measures for mobile money and other new payment methods
All over the world, small loans to invididuals and very small business are increasingly made using digital channels, whether online, via a mobile devide or through an agent. However, trust, confidence and responsible lending practices need to be in place to ensure this industry is successful and its customers are protected and empowered.
In Responsible Digital Credit, CFI Fellow John Owens outlines the digital credit landscape and the risks customers face, and examines the best practices, standards and initiatives that exist or should be implemented to improve consumer protection in digital lending. Ultimately, John argues, it will take a village to ensure that digital credit clients are protected—including govenrment, regulators, industry players, advocates and consumers themselves. He sees three key activities: 1) industry self-regulation, 2) certification of digital credit providers, and 3) directly empowering consumers, as key to the future of what responsible digital credit looks like.
This report is published jointly with the Smart Campaign and was made possible by support from Mastercard Foundation and other partners. See https://mobilemoneyfordevelopment.wordpress.com/2018/08/02/a-framework-for-responsible-digital-credit/ to download the report,
Navigate the Financial Crime Landscape with a Vendor Management ProgramPerficient, Inc.
What is the impact of a failed risk management program as a result of actions committed by a vendor or service provider? Your financial institution may be exposed to reputational damage and financial losses running into billions of dollars.
During this webinar, our financial crime and risk management experts discussed current financial crime trends, steps to identifying vendor risks, the need for Know Your Vendor (KYV) and due diligence, and creating a cross-functional risk-based approach to vendor governance.
Mortgage Servicing Transfers: Meeting the Operational and Regulatory DemandsRachel Hamilton
ACI) 3rd Bank and Non-Bank Forum on MORTGAGE SERVICING COMPLIANCE will keep you one step ahead of the new regulatory scrutiny and unparalleled networking opportunities. This conference will provide attendees with the latest insights and expert advice from our exceptional faculty.
The Relationship Between Insurance Companies and Outside Counsel Rachel Hamilton
Now, more than ever, attorneys and law firms must take action to ensure that they are protected from former disgruntled clients and third parties looking to recoup losses and/or share blame by bringing malpractice claims against attorneys.
This presentation by Competition Bureau Canada was made during a workshop on “Regulation and competition in light of digitalisation” held by the OECD in Paris on 31 January 2018. More papers and presentations on the topic can be found out at oe.cd/wrcd.
The Modern Slavery Supply Chain Risk Assessment Questionnaire brings together the human rights expertise of Norton Rose Fulbright, a global law firm*, with the ethiXbase 360 powerful
Third-Party Risk Management Platform to help your business identify, mitigate, and manage modern slavery risk and human rights abuses across your supply and manufacturing chains
The Modern Slavery Questionnaire uses five key indicators to
assess a supplier’s modern slavery risk:
1) Jurisdiction
2) Industry
3) Products
4) WorkForce
5) Risk-mitigating measures
This presentation by Mark Simpson, Partner, Norton Rose Fulbright, was made during the discussion “Blockchain and Competition” held at the 129th meeting of the OECD Competition Committee on 8 June 2018. More papers and presentations on the topic can be found out at oe.cd/2gx.
Implementing Anti Money Laundering and Fraud Rules in BankingTriVersa
This presentation describes various financial crimes functional challenges and how to define and construct effective rules in support of Anti-Money Laundering (AML) or Electronic Fraud scenarios.
It is useful to those working in traditional or digital Banking sectors; especially working in departments such as Internal control, Compliance, Monitoring or Investigation.
Professionals in compliance or technology functions such as internal Control officers, compliance officer, rules developers, compliance supervisors and team leaders will also benefit as it aims to provide insight into effective rules that ensures their Banking operations remain compliant in line with ever-evolving electronic fraud and AML patterns.
Later sections of the presentation also describe Dixtior Compliance Solution as an effective solution to detect and combat money laundering in any banking institution.
To download the document, visit www.thetriversa.com/article.php
Presentation from the OECD Roundtable on Equal Access to Justice, Latvia, 2018. For more information see: http://www.oecd.org/gov/equal-access-to-justice-oecd-expert-roundtable-latvia-2018.htm
This presentation by Prof. Hwang LEE from the Korean University School of Law was made during the discussion on "Sanctions in Anti-trust cases" held at the 15th Global Forum on Competition on 2 December 2016. More papers and presentations on the topic can be found out at www.oecd.org/competition/globalforum/competition-and-sanctions-in-antitrust-cases.htm
Compliance Officer update: What you should know about your Business Partner -...vivacidade
Compliance Officer update: This presentation shows why and how Compliance questionnaires are used in the context of the Third Party Compliance Due Diligence process. A proposal is made on key data and compliance information that should be obtained from the prospective Business Partner via self-questionnaire. It is the starting point for further analysis and background checks before a contractual obligation is concluded. The due diligence process should be designed to enable the identification of red flags.
This presentation by the Norwegian Competition Authority was made during a workshop on “Regulation and competition in light of digitalisation” held by the OECD in Paris on 31 January 2018. More papers and presentations on the topic can be found out at oe.cd/wrcd.
ISO Standards support for Anti-Bribery investigations and audits in the cyber...PECB
This presentation was delivered by Anders Carlstedt, CEO at Parabellum Cybersecurity Services at The ISO 27001 & Anti-Bribery PECB Insights Conference.
FCPA Enforcement Tends and Their Impact on Corporate Compliance ProgramsPECB
This presentation was delivered at the ISO 37001 & Anti-Bribery PECB Insights Conference by William Marquardt, Director at Berkeley Research Group LLC in Florida
This presentation by Barbara Rosenberg was prepared for a roundtable discussion on Criminalisation of cartels and bid rigging conspiracies at the 131st meeting of the OECD Working Party 3 on 9 June 2020. More papers, presentations and contributions from delegations on the topic can be found out at http://www.oecd.org/daf/competition/criminalisation-of-cartels-and-bid-rigging-conspiracies.htm
AllRegs History of CFPB and the Mortgage IndustryAllRegs
Do you work for a mortgage company, real estate company, or financial services organization? Are you having trouble understanding what the Consumer Finance Protection Bureau is and what it does? Are you having trouble explaining CFPB to your staff? View this colorful summary of the History of the CFPB and the Mortgage Industry to learn more!
FATF's June 2013 Guidance Note on a Risk Based Approach to Implementing AML/C...Louise Malady
Understanding and using FATF's June 2013 Guidance note of a Risk Based Approach to Implementing AML/CFT Measures for mobile money and other new payment methods
All over the world, small loans to invididuals and very small business are increasingly made using digital channels, whether online, via a mobile devide or through an agent. However, trust, confidence and responsible lending practices need to be in place to ensure this industry is successful and its customers are protected and empowered.
In Responsible Digital Credit, CFI Fellow John Owens outlines the digital credit landscape and the risks customers face, and examines the best practices, standards and initiatives that exist or should be implemented to improve consumer protection in digital lending. Ultimately, John argues, it will take a village to ensure that digital credit clients are protected—including govenrment, regulators, industry players, advocates and consumers themselves. He sees three key activities: 1) industry self-regulation, 2) certification of digital credit providers, and 3) directly empowering consumers, as key to the future of what responsible digital credit looks like.
This report is published jointly with the Smart Campaign and was made possible by support from Mastercard Foundation and other partners. See https://mobilemoneyfordevelopment.wordpress.com/2018/08/02/a-framework-for-responsible-digital-credit/ to download the report,
Navigate the Financial Crime Landscape with a Vendor Management ProgramPerficient, Inc.
What is the impact of a failed risk management program as a result of actions committed by a vendor or service provider? Your financial institution may be exposed to reputational damage and financial losses running into billions of dollars.
During this webinar, our financial crime and risk management experts discussed current financial crime trends, steps to identifying vendor risks, the need for Know Your Vendor (KYV) and due diligence, and creating a cross-functional risk-based approach to vendor governance.
Regulatory compliance is a very challenging task for bankers. Digital banking adds to the complexity . Banks need to go beyond regulatory compliance to be safe and successful in digital banking , as regulation is always a caching up game. Police cannot outsmart thief.
During this briefing we looked at two distinct hot topics, Deferred Prosecution Agreements and Correspondent Banking. The discussion focused on the evolving challenges and practical compliance tips
Operational innovations in AML/CFT compliance processes and financial inclus...CGAP
This report contains the findings of a research project to identify and categorize leading operational AML* compliance practices among financial service providers for the identification, verification and ongoing monitoring and management of lower income customers. This project began with the hypothesis that an increasing number of financial service providers with products targeting lower income population segments are reducing client acquisition and monitoring costs, and improving efficiency and effectiveness of the processes in scope.
LIBOR and Conduct Risk: When and How Should You Mitigate?accenture
Learn why conduct risk is particularly relevant to the transition from LIBOR, and identify when and how to mitigate conduct risk. Visit our LIBOR Transition site: https://accntu.re/2yD2cZa
La importancia del de risking y las implicaciones en los sistemas financiero...John Owens
This is the Spanish version of my presentation on the implications of de-risking on the financial sector, especially in Latin America. I highlighted what de-risking is, its impact, regional and international groups working on de-risking and some of the potential steps that the industry can take to address the thorny issue of de-risking.
Let me now your thoughts.
The implications of de-risking on the financial system in Latin AmericaJohn Owens
In May 2018, I traveled to Asunción, Paraguay to present on the implications of de-risking on the financial sector, especially in Latin America. I highlighted what de-risking is, its impact, regional and international groups working on de-risking and some of the potential steps that the industry can take to address the thorny issue of de-risking.
Let me now your thoughts.
FinTech Applications & Tools for Financial HealthJohn Owens
During my presentation in March in Kyiv, Ukraine, I shared global examples of FinTech tools and applications that can not only support greater financial inclusion but, more importantly, can address the overall financial health of customers and improve consumer protection.
Infrastructure, Access Points & the Development of Digital Financial Ecosyste...John Owens
This presentation provides an analysis of the importance of digital infrastructure and ecosystems as well as review the “tipping” points for more rapid uptake and usage of digital financial services.
Overview of Digital Financial Services LandscapeJohn Owens
This presentation reviews the digital financial service landscape and is a primer for regulators and policy makers wishing to better understand current market developments.
Alternative Data: Transforming SME FinanceJohn Owens
This presentation summarizes the IFC/World Bank/G20 GPFI report on the landscape of alternative data and players that are expanding access to SME finance. This presentation was prepared jointly with the effort of my co-author Lisa Wilhelm. The complete report can be downloaded at https://www.smefinanceforum.org/post/alternative-data-transforming-sme-finance
Alternative Data Transforming SME FinanceJohn Owens
Presentation on the paper "Alternative Data Transforming SME Finance" presented at the Global Partnership for Financial Inclusion 2017 forum in Berlin, Germany #GPFI
Special thanks to my co-auithor, Lisa Wilhelm who provided substantial inputs for this paper and presentation.
Tendencias en Servicios Financieros DigitalesJohn Owens
Esta presentación fue preparada por el Banco Central de Costa Rica para aprender sobre los nuevos servicios financieros digitales que apoyan la inclusión financiera.
International Regulatory Practices for Digital Financial ServicesJohn Owens
The following presentation was shared on April 24, 2015 during an international forum hosed by the National Bank of Belarus entitled "Digital Banking: technology and innovation".
For more information on the event, see http://infobank.by/infolineview/itemid/6800/default.aspx
Moving to the Mainstream - Alternative Financing for MSMEs & Policy ImplicationsJohn Owens
This presentation was provided during the session entitled "Moving Into the Mainstream – Showcase of Alternative Funding Mechanisms for SMMEs " at the ABAC Malaysia - SME Finance Forum
Workshop on Innovative Financing for SMMEs at the
InterContinental Kuala Lumpur, Malaysia on May 21, 2015
Digital Financial Services for Financial InclusionJohn Owens
This presentation highlights some of the digital financial service trends, policy and regulatory issues and examples of digital financial services and the role it plays in financial inclusion in various countries in the Asia Pacific region.
This was the opening session of the panel on digital financial services and financial inclusion during the Asia Pacific Regional Forum on Universal Access and Services and Broadband Deployment 2015 in Bangkok, Thailand.
Basic Approaches for Digital Financial Services That Support Financial InclusionJohn Owens
Learning from legislative and regulatory practices in countries which have successfully launched new digital financial service approaches, as well as maintaining an open dialogue with the private sector are essential for countries wishing to harness digital financial services to advance financial inclusion. This was the theme of the recent AFI-Central Bank of Russia (CBR) workshop entitled Digital Financial Services: Promoting Financial Inclusion, which was held in Moscow in October 2014. http://www.afi-global.org/news-events/network-news/afi-events/digital-financial-services-promoting-financial-inclusion
Moving from Mobile Money to Digital Financial ServicesJohn Owens
In this webinar, I shared updates on the growing shift from mobile money to broader digital financial services to promote financial inclusion. These broader services include greater integration and convergence of electronic funds transfers, debit/ATM cards, and agent banking. Over the past couple of years, a range of public and private players such as USAID, the Better Than Cash Alliance, the Bill & Melinda Gates Foundation, the Alliance for Financial Inclusion, and other groups have actively supported or focused on policy areas that promoted the use of digital financial services for greater financial inclusion.
With the greater role of governments, regulators, private sector players, and more importantly, the role and perspective of clients at the base of the economic pyramid, this new emphasis on digital financial services, has a much better chance of accomplishing deeper financial inclusion than we have seen in the past. This presentation focuses on this broader approach to improving financial inclusion and shares lessons learned from a practitioner in the field point of view.
Better Than Cash: How Governments, Donors, & the Private Sector can support M...John Owens
This presentation was given during the 2nd Indian Ocean / South Asia Mobile Payments & Banking Summit in Dhaka, Bangladesh. It provides an update on the Better Than Cash Alliance, how it can benefit those supporting mobile banking, mobile money, and mobile payments as well as the benefits to joining this effort. Note that some slides here came from the Better Than Cash Alliance and the other slides were added by the author and do not necessarily reflect the views or opinions of the Better Than Cash Alliance.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
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USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
The Role of Regulations in the Development of Digital Finance
1. THE ROLE OF REGULATIONS
AND DEVELOPMENT OF DFS
JOHN V OWENS
2. KEY ASPECTS OF DFS REGULATIONS
• Proportionate AML/CFT (FATF
Compliance)
• Tiered KYC Regulations
• E-Money Operator Regulations and
Guidelines
• Remote Account Opening Rules
• Agent Regulations (for banks and NBFIs)
• Security and Fraud Mitigation
• Consumer Protection Issues
• Interoperability
• Fair Access to ICT
• Retail Payment Systems Laws and
Regulations
• Competition Policies
3. Risk-based approach to AML/CFT regimes and
financial inclusion
In 2012, FATF revised the recommendations to combat money laundering and the
financing of terrorism.
Countries should identify, assess, and understand the money laundering and terrorist
financing risks for the country, and can follow a risk-based approach commensurate with
the risks identified.
Allows a new level of flexibility in the application of certain elements of a country’s
AML/CFT regime, which should complement, rather than inhibit, national financial
inclusion efforts.
FATF further states in Recommendation 1: “where countries identify lower risks, they
may decide to allow simplified measures for some of the FATF Recommendations under
certain conditions.”
The area where this is most relevant is in the context of customer due diligence (CDD)
Allows for tiered KYC procedures.
4. PRUDENTIAL AND MARKET CONDUCT
REGULATIONS
These include:
capital requirements
reserve requirements
governance requirements
reporting and disclosure requirements
5. DFS AND CONSUMER PROTECTION ISSUES
Adequate and Complete Information
Other risk factors that should be considered as the regulator prepares consumer
protection for DFS include:
• New technology as a source of risk
• Risks associated with agents
• Particular challenges with new services and/or DFS providers
• Consumer and data privacy concerns
• Outsourcing to third-party service providers
6. SETTING UP CONSUMER PROTECTION POLICIES AND
REGULATIONS FOR DFS
Regulatory framework for consumer protection:
• DFS providers are licensed to operate under clear rules to protect consumers
• Level playing field that promotes competition
• Standards for disclosure and transparency of information;
• Simplified consumer protection rules for low-value transactions;
• Responsibility for all their services (including through a third-party or agent;
• Clear data privacy and confidentiality rules are in place;
• Adequate complaint resolution;
• Relevant data has been collected by the regulator.
7. CREATING THE REGULATORY ENABLING
ENVIRONMENT AND PROVIDING PROPER OVERSIGHT
AND SUPERVISION OF DFS
Relevant Core principles for effective banking supervision to the regulation and
supervision of institutions relevant to financial inclusion
• Principle 1: Responsibilities, objectives and powers
• Principle 2: Independence, accountability, resourcing and legal protection for
supervisors
• Principle 3: Cooperation and collaboration
• Principle 4: Permissible activities
• Principle 5: Licensing criteria
8. CREATING THE REGULATORY ENABLING
ENVIRONMENT AND PROVIDING PROPER OVERSIGHT
AND SUPERVISION OF DFS (CONT.)
• Principle 8: Supervisory approach
• Principle 9: Supervisory techniques and tools
• Principle 10: Supervisory reporting
• Principle 11: Corrective and sanctioning powers of supervisors
• Principle 12: Consolidated supervision
See the Basel Committee on Banking Supervision: Guidance on the application of the Core
principles for effective banking supervision to the regulation and supervision of
institutions relevant to financial inclusion http://www.bis.org/bcbs/publ/d351.pdf
9. ADDRESSING ACCESS ISSUES - REGULATORY OPTIONS
• Tiered KYC
• Alternative ID options
• E-money regulations
• Agent regulations
11. AGENT BANKING REGULATIONS
Three issues determine the best liability rules in any context.
1. Allocation of risk and economic incentives
2. Agent insolvency risk
3. Agent supervision
Regulating banks’ and MNOs’ use of DFS agents requires an appropriate legal
framework. Factors influencing the framework’s design include the following:
• Business relationship;
• Principal-agent contract;
• Supervisory and regulatory structure; and
• Legal foundation of the economy (common or civil)
12. AGENT BANKING REGULATIONS
• Who can be an agent?
• What are the agent eligibility requirements?
• What can an agent do?
• Restrictions on fees charged by agents?
• Can an agent subcontract? Are super-agents allowed?
• Can agents be exclusive or must they be non-exclusive?
• What is the principal liability for agents?
See CGAP Focus Note: Regulating Banking Agents
https://www.cgap.org/sites/default/files/CGAP-Focus-Note-Regulating-Banking-
Agents-Mar-2011.pdf
14. DFS CONSUMER PROTECTION ISSUES
1) Risks for DFS Consumers
Adequate and Complete Information
New Technology as a Source of Risk
Risks Associated with Agents Providing DFS
Challenges with New Services and Service Providers
Consumer Privacy Concerns with DFS
15. DFS CONSUMER PROTECTION ISSUES
2) Outsourcing and Third Party Service Providers
3) Responsibilities of the DFS Providers
4) Responsibilities of the Financial Regulator
5) Responsibilities of the DFS Consumer
6) Smart Campaign Principles Applicable to DFS
16. DFS CONSUMER PROTECTION PRINCIPLES
1. Appropriate product design & delivery
• Advertising and marketing practices
• Electronic payment processing & collection practices
2. Prevent of over-indebtedness
3. Transparency
• For borrowers
• For investors (individual and institutional especially relevant for
marketplace lenders)
4. Responsible pricing
17. DFS CONSUMER PROTECTION PRINCIPLES
5. Fair and respectful treatment of clients
• By digital providers
• By brokers/mobile lead generators/aggregators
• Big data and non-discrimination
6. Privacy of client data
• Privacy notice
• Opt-in/Opt-out standards
• Management of third-party service providers/vender to protect client data
7. Mechanism for complaint resolution
8. Compliance with local laws and regulations for lending
18. DFS CONSUMER PROTECTION PRINCIPLES
9. Security and risk management practices/standards
• Safety and soundness practices
• Authentication and security information
• For Mobile Channel – customer mobile security measures
• Consent to communicate electronically
• Risk management practices
• Network Stability
10. Governance & Controls
19. DFS CONSUMER PROTECTION PRINCIPLES
11. Implementation of a code of ethics
12. Responsible Investment – Environmental, Social, Corporate Governance
13. Targeted Financial Education
14. Regulatory Empowerment & Focus
20. NEXT STEPS - RESPONSIBLE DIGITAL FINANCIAL SERVICES
DFS
Providers
Industry
Associations
Clients
Investors
Consumer
Protection /
Market Conduct
Regulations
Reputational
Risk
Business Case
21. CLASS EXERCISE
Discuss the various risks faced by DFS Consumers from
your perspective.
With more partnerships and traditional financial players
connecting to third party service providers, what are the
particular risks that should be taken into account from a
consumer protection standpoint?
What should be the responsibility of the financial
regulator, the DFS providers and ultimately those of the
consumer?
Risk-based approach to AML/CFT regimes and financial inclusion
In 2012, FATF revised the FATF 40 Recommendations to combat money laundering and the financing of terrorism. In the revision, FATF stated that countries should identify, assess, and understand the money laundering and terrorist financing risks for the country, and should take action to mitigate those risks effectively. Based on that assessment, FATF also requires countries to apply a risk-based approach commensurate with the risks identified. This requirement for risk assessment applies at the national level, as well as at the level of obligated financial institutions and designated non-financial businesses and persons (such as lawyers, notaries and real estate agents).
This shift toward the risk-based approach allows for a new level of flexibility in the application of certain elements of a country’s AML/CFT regime, which should complement, rather than inhibit, national financial inclusion efforts. FATF further states in Recommendation 1: “where countries identify lower risks, they may decide to allow simplified measures for some of the FATF Recommendations under certain conditions.”
The area where this is most relevant is in the context of customer due diligence (CDD). In the past, it has been suggested that overly strict requirements regarding customers’ identification and verification has contributed to financial exclusion. For example, in a country where many people may lack official documentation to prove identity, strict application of CDD requirements may exclude them from the formal financial system. Or, strict CDD procedures that lead financial institutions to pass on costs to the customer could act as a disincentive for customers – especially the poor – to use those services. Under the revised FATF Recommendations, should a country be able to identify lower-risk scenarios or products (a prepaid low-value product, a basic account with strict deposit/withdrawal thresholds etc), the country may allow simplified CDD processes for those situations.
Source: FATF, http://www.bis.org/cpmi/publ/d133.pdf
However, different financial services involve various levels of risk, and so merit different types of regulationFor example, some basic financial services do not entail significant systemic risk, and only require certain key protections:
Conversion of cash to electronic money (cash-in) depends on proper authentication of the cash, identification of the customer, and a reliable bookkeeping system.
Storage of money for safe keeping depends primarily on the same things, as well as control over access to the funds, making governance, audits and KYC procedures key to ensure the integrity of the system.
Transfers and payment services require documentation of the delivery to and transfer by the network, authentication of the recipient, and so rely on internal messaging and control protocols to protect against fraud and system failure. Prevention of terrorism finance and money laundering may also justify limiting the amounts that may be transferred, requiring certain record keeping, and identification of the sender
Principle 1: Responsibilities, objectives and powers
An effective system of banking supervision has clear responsibilities and objectives for each authority involved in the supervision of banks and banking groups. A suitable legal framework for banking supervision is in place to provide each responsible authority with the necessary legal powers to authorize banks, conduct ongoing supervision, address compliance with laws and undertake timely corrective actions to address safety and soundness concerns. By looking at banks and the banking system, there is a reference to also including NBFIs especially if they serve a significant number of individuals.
Principle 2: Independence, accountability, resourcing and legal protection for supervisors
The supervisor needs to possess operational independence, transparent processes, sound governance, budgetary processes that do not undermine autonomy and adequate resources, and is accountable for the discharge of its duties and use of its resources. The legal framework for banking supervision includes legal protection for the supervisor. Under this guiding principle, supervisors responsible for multiple types of institutions require adequate resources to conduct effective supervision and oversight. They should be financed in a manner that does not undermine their autonomy or operational independence. As supervisors are confronted with new types of institutions (such as nonbank e-money issuers), new products and services, and new arrangements among banks and nonbanks (including the use of retail agent networks as a primary customer interface), and since such institutions can grow quickly in number, scope and scale, supervisors should regularly evaluate existing staff skills and projected staff requirements over the short- and medium-term, and implement measures to bridge any gaps in numbers and/or skill-sets identified.
Principle 3: Cooperation and collaboration
Laws, regulations or other arrangements provide a framework for cooperation and collaboration with relevant domestic authorities and foreign supervisors. These arrangements reflect the need to protect confidential information. Cooperation and coordination among different regulators and supervisors are key to developing an effective regulatory and supervisory framework for financial institutions targeting unserved and underserved customers, in particular: (i) to design informed and proportionate rules and requirements for the licensed institutions (as opposed to simply having different standards, rules and requirements); (ii) to delineate regulatory and supervisory responsibilities as clearly as possible as to avoid or minimize overlaps and gaps, as well as arbitrage by institutions offering similar products; and (iii) to avoid or minimize inconsistent or overly burdensome requirements that interfere with implementation of policy objectives, including financial inclusion. This is particularly important as financial regulators increasingly need to cooperate with ICT regulators as well as competition authorities in the area of DFS providers.
Principle 4: Permissible activities
The permissible activities of institutions that are licensed and subject to supervision as banks are clearly defined and the use of the word “bank” is controlled. Commercial banks are typically permitted to engage in a wide number of activities, while nonbank financial institutions typically engage in a narrower range of activities, which are often limited to lending and possibly taking deposits. Increasingly, various types of nonbank financial institution targeting unserved and underserved customers are also engaging in one or more of the following activities: domestic and international transfers (remittances), issuing payment cards or e-money, using an agent, acting as an agent of a financial institution, and acting as a distributor of basic insurance.
While the taking of deposits from the public should be reserved to banks and nonbank deposit-taking institutions that are licensed and subject to supervision, institutions that offer e-money and other digital stored-value products not defined as deposits may also need to be licensed and subject to supervision as appropriate for the risks involved. This may be the case for nonbank e-money issuers, which are emerging in many jurisdictions as important financial institutions providing an alternative to conventional deposits to unserved and underserved customers. In some cases, this may mean that a non-financial firm, such as an MNO, is required to establish a separate legal entity to offer financial services, such as e-money issuance and storage.
Principle 5: Licensing criteria
The licensing authority has the power to set criteria and reject applications for establishments that do not meet the criteria. At a minimum, the licensing process consists of an assessment of the ownership structure and governance (including the fitness and propriety of Board members and senior management) of the bank and its wider group, and its strategic and operating plan, internal controls, risk management and projected financial condition (including capital base). Where the proposed owner or parent organization is a foreign bank, the prior consent of its home supervisor is obtained. This is especially important in supervising new financial players like EMIs who should demonstrate that they have a proposed strategic and operating plan, projected financial condition, adequate corporate governance, risk management policies and internal control policies including oversight of outsourced functions.
Principle 8: Supervisory approach
An effective system of banking supervision requires the supervisor to develop and maintain a forward-looking assessment of the risk profile of individual banks and banking groups, proportionate to their systemic importance; identify, assess and address risks emanating from banks and the banking system as a whole; have a framework in place for early intervention; and have plans in place, in partnership with other relevant authorities, to take action to resolve banks and supervised NBFIs in an orderly manner if they become non-viable. Supervisors need to also monitor other financial service providers that fall outside of their supervision such as P2P lenders and the rise of crypto-currencies in order to identify risks, assess the systemic risk of both regulated and un-regulated DFS providers, and evaluate whether or how they should be regulated or whether they should be considered illegal or too risky to continue to operate in the market.
Principle 9: Supervisory techniques and tools
The supervisor uses an appropriate range of techniques and tools to implement the supervisory approach and deploys supervisory resources on a proportionate basis, taking into account the risk profile and systemic importance of licensed financial institutions. Supervising banks and nonbanks targeting unserved and underserved customers, will depend on the approach chosen for a particular sub-sector, the range of institutions, the range of products, their delivery channels, the systemic importance, size, risk profile and complexity of each institution.
Principle 10: Supervisory reporting
The supervisor collects, reviews and analyzes prudential reports and statistical returns from supervised FIs on both a solo and a consolidated basis, and independently verifies these reports through either on-site examinations or use of external experts. With respect to financial institutions targeting unserved and underserved customers, supervisors may adjust the reporting requirements to make sure they have the information needed to also understand the business models and related risks, and to carry out effective and proportionate supervision. To avoid unduly burdensome reporting requirements, supervisors need first to identify the key risk indicators that need to be monitored.
Principle 11: Corrective and sanctioning powers of supervisors
The supervisor acts at an early stage to address unsafe and unsound practices or activities that could pose risks to banks or to the financial system. The supervisor has at its disposal an adequate range of supervisory tools to bring about timely corrective actions. This includes the ability to revoke the financial provider license or to recommend its revocation. This is especially important in the case of EMIs, especially those offered by MNOs. Laws or regulations should ensure that these providers are separately licensed or registered for the purposes of engaging in regulated financial services. This facilitates supervision by a prudential supervisor and provides the authority for the regulator to ensure that prompt corrective actions or sanctions can be imposed if needed.
Principle 12: Consolidated supervision
An essential element of banking supervision is that the supervisor supervises the banking group on a consolidated basis, adequately monitoring and, as appropriate, applying prudential standards to all aspects of the business conducted by the banking group worldwide.
No one group will have sufficient pressure on digital lenders but there was quite a bit of concern about reputational risk by providers, investors and regulators so the business case for being proactive may help move the needle quicker than would have been possible for other providers such as MFIs in the past. In addition digital borrowers, especially those borrowing online as well as via a mobile are quite connected to others and do comparison shop. In addition, information made available at the finger tips of customers online especially mobile friendly portals will be able to gather data and can be encouraged to demand better consumer protection principles and responsible lending practices that were not possible only a few years ago.
The biggest challenges will be in cultural differences especially the major divide between countries that view data privacy completely differently like Germany and China.
In addition, in markets with little or no policies and those with limited supervisory capacities, ensuring oversight will need to be done in stages as consumer risks become clearer and evidence brings issues to light. Helping develop strategies that build on industry and that are customer-driven may be the best option, especially where regulators/supervisors struggle with capacity issues. Regtech developments may hold promise for support in this area (Philippines mobile app consumer protection tool).