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The Australian Prudential Regulatory Authority is to impose stricter conditions on applicants for deposit-taking licences following the recent collapse of digital challenger Xinja and the sale of 86 4000 to National Australia Bank. 
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State financial regulators in the US have approved an action plan to streamline the experience of fintech startups setting up shop across multiple jurisdictions.
Vineet Anand's insight:
CSBC to implement 14 actions stemming from the panel to support Fintech start-up growth in the US be streamlining the sporadic efforts required to be made in 50 states. These include MSB licenses, which is a painful multi-year activity for some start-ups.
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The Monetary Authority of Singapore is consulting on new proposals to expand its regulatory oversight of bank outsourcing arrangements.
Vineet Anand's insight:
Bank outsourcing arrangements under the regulatory lens of MAS with rights to audit and suspend operations of third party providers!
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Finextra: In the wake of the Paris attacks, France's finance minister, Michel Sapin, says that European authorities need better access to Swift data in the fight against terrorism.
Vineet Anand's insight:
Bitcoin, other virtual currencies, pre-paid cards, and now SWIFT payments data access and controls will change at a rapid pace for greater transparency post Paris attacks!
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Finextra: The US Office of the Comptroller of the Currency is contemplating setting up a fintech innovation unit to help regulated financial institutions compete on an equal footing with non-bank providers of financial services.
Vineet Anand's insight:
OCC to consider setting up innovation unit to track new trends and technology that is disrupting financial services. Likely regulations to appear as OCC (light touch maybe) to risky products with focus on protecting end customers.
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Vineet Anand's insight:
Departure of Lawsky might slow down the efforts he was driving to bring bitlicenses to virtual currencies. I believe bitlicenes will bring greater legitimacy to crypto-currency and banks will act favorably towards establishing relationships with virtual currency players, which has been a big hurdle for most start-ups!
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Curated by Vineet Anand
Payment Industry leader passionate about Fintech, Innovation in Banking, Product Management & Strategy, driving revenue growth through client management, business development and P&L focus.
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Payments Ecosystem
The Payments ecosystem is evolving at an unprecedented pace driven by mobile, cloud computing, start-up's challenging the behemoths, and new technologies. My personal collection of curated stories and blogs.
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ADI's to have greater scrutiny establishing a higher bar for achieving banking license.