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Banks nowadays are in stiff competition for human resources with fintech. The financial technology sector often offers higher pay. Still, the prospects of many such start-ups are difficult to forecast – they are as likely to occupy a solid niche as they are to go bust. Stable companies in Latvia are only a handful. Primarily, fintech players active in Latvia are headquartered in foreign countries – the United Kingdom, to name one – despite maintaining offices in Riga and employing staff in Latvia
Over the past year, the financial sector has been adjusting to a new regulatory environment. On July 31, 2023, the Financial Conduct Authority (FCA) introduced new Consumer Duty rules that obligate fi...
The Economic Crime and Corporate Transparency Act (ECCTA) introduces key changes to Companies House, aiming to enhance the accuracy and reliability of business information. Designed to enhance transpa...
The Payment Services Regulations (PSR) approach will bring about a significant change for all the payment firms. Its aim is to proactively prevent Authorized Push Payment (APP) fraud from occurring. I...
Fraud accounts for atleast 40% of financial crime in the UK. In 2022, UK banks have identified over 39,000 accounts demonstrating behavior indicative of money muling[1]. NCA estimated that over GBP 10...
Small and medium-sized enterprises (SMEs) are undeniably a cornerstone of global economic growth and innovation. The International Labour Organization recently reported that in most OECD countries, S...
In June 2023, The European Commission announced its proposals on regulations governing the payment services industry within the union. The much-anticipated third Payment Services Directive (PSD3) rep...
Earlier this year, on February 22nd, the last remaining bank branch in the whole of the Peak District, Natwest in Bakewell, closed its doors for good. The closure leaves thousands of locals without...
It was long believed that developed economies firmly rooted in the credit and debit card tap-and-pay ecosystem would be difficult to change. Due to their perceived insecurity and clumsiness, QR code p...
The global fintech market is growing rapidly with a market size expected to top $608 billion by 2029, almost doubling from a projected $312 billion this year. In part, this can be attributed to the a...
2024 is a year of multiple elections . Now the UK has been added to the list with its general election called for July 4th. This led me to think how much the loss of in-person banking services and th...
In the ever-evolving landscape of finance, Natural Language Processing (NLP) has emerged as a game-changer. This innovative technology, which enables computers to understand and interpret human langua...
Fraudsters are getting bolder and more sophisticated in their attacks on the financial sector. Their increasingly complex schemes are breaching institutional security and eroding the very foundation o...