News: Swift Business Forum New York - live blog

Welcome to Finextra's live coverage of the Swift Business Forum New York 2018. This event will focus on important issues affecting the financial industry, exploring how far and how fast the transformation of financial services will take place in the US and how firms can win in a digital-first world.

9.50: Returning to the what you get out of Swift is what you put into it point, Shah says that he sees how banks interact with Swift from his position. Those banks that engage with the Swift management team on a holistic basis actually influence Swift and also get a lot out of it. Those banks that don't do this and just watch don't get that opportunity. It is a coalition of the willing, and gpi is a great example of this.

Posted: 2018-09-12

News: EBA given sweeping new powers to tackle money laundering abuses at EU banks

The European Commission is proposing to hand the European Banking Authority sweeping new powers to crack down on money laundering following a spate of scandals at a number of major banks.

introducing the proposals, President Jean-Claude Juncker says recent cases involving money laundering in some EU banks have raised concerns that AML rules are not always supervised and enforced effectively across the EU. 

"This not only creates risks for the integrity and reputation of the European financial sector, but may also have financial stability implications for specific banks."
Posted: 2018-09-12

News: University System of Georgia creates Fintech Academy

The university system of Georgia is creating a fintech academy to build a talent pipeline for the US state's fast-growing financial technology sector.

Georgia is a fintech hotbed, with more than 40,000 people in the state employed in the industry, thanks largely to 'Transaction Alley', where around 70% of all US payments are processed.

And the sector is expecting to continue to grow, with an associated escalating demand for talent, including a need for 5000 new hires by 2020 - 95% of whom must possess industry-specific functional experience.
Posted: 2018-09-12
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