Financial Services Newsletter, November

techUK Policy Papers 

We are looking to finalise and publish our white papers on DLT/blockchain and digital identity. Near final drafts will be circulated shortly. Please do have a look and send us your views – this is your chance to make your voice heard. Please email to Ruth Milligan

Policy News

EBA's guidelines on outsourcing 

The EBA has published draft guidelines on outsourcing arrangements to cloud service providers which it proposes to integrate into its revised guidelines. 

techUK has issued a letter objecting to the proposed restrictions on the use of third-party certifications. To learn more - please come to our Cloud Adoption event on 9 November - see below. 

 

Payments Scams industry code published 

The Authorised Push Payment (APP) Scams Steering Group, established by the Payments Systems Regulator (PSR) earlier this year has published the outcome of its consultation on a model for reimbursement of victims of authorised push payment scams. This has resulted in a voluntary code - for further details see the Steering Group's website. 
 

New name for former NPSO

The New Payment Services Operator has announced its new brand - PayUK. It's aim is to 'transform the UK's payment infrastructure to enable a vibrant economy' It also announced initial details of a new procurement process for the clearing and settlement layer that will form the backbone of the New Payments Architecture (NPA) .

Global Financial Innovation Network (GFIN) - FCA widens global 'sandbox' 

In August, the FCA announced, in collaboration with 11 financial regulators the creation of the Global Financial Innovation Network (GFIN), building on its earlier proposal to create a 'global sandbox'. The FCA is now consulting on the approach - "Mission" - for the new network, which is designed to allow regulators to collaborate and share experience to foster emerging technologies and business models and to enable trials of cross-border solutions.

Recent Events & Activities

Distributed Ledger Technology Working Group

techUK is currently engaged with a variety of government departments and All-Party-Parliamentary Groups (APPG) groups on Blockchain and Digital Currencies. It is actively seeking to encourage the broader adoption of blockchain solutions for a variety of real life applications, a key focus of the upcoming thought leader paper and ongoing working group discussion. Please register for the next meeting on 5 December

Digital ID Working Group

The Digital Identity Working Group, chaired by Thom White of Yoti met on 25 September and the DCMS gave a presentation. The new group is well supported, reflecting the growth and interest in the digital-ID space. This group is to engage in stakeholder advocacy to promote digital-ID space, particularly around standards. Next year's meetings will be announced shortly. 


Open Banking Showcase

techUK hosted a roundtable and showcase of some of the most innovative companies working in Open Banking. There were some positive and some negative views, listened to with interest by the FCA who werein attendance. For details, see our insight, Open Banking - view from the fintechs


Blockchain Live

The buzz was really there at Blockchain Live 2018 on 26 September in London Olympia’s Grand Hall. There was a blockchain block for just about every sector and the fintech one, where Ruth Milligan joined a stellar afternoon panel, proving particularly popular, as did techUK's stand! Expect this event to be bigger and better next year!

 

Upcoming techUK Events

Financial Services Council

The Council next meets on 06 November. Membership is by application only. Please contact Ruth Milligan if you are interested in joining.


Cloud Adoption in the Financial Industry Roundtable Thursday, 1 November 

Cloud adoption technology provides an opportunity to address the challenges of innovation and change, yet there remain a number of perceived barriers adopting wide scale adoption techUK aims to lift the lid on these obstacles and seeks clarity and understanding from the regulators.  Register here.

 

Delivering financial inclusion in smart local communities 

techUK is holding a roundtable event on Wednesday, 14 November, with government and municipal stakeholders to explore how tech can help surmount inclusion challenges and broaden access to social welfare, housing and financial services. The timing for this event is opportune with the publication of the Government's Civil Society Strategy and techUK's own focus on Council of the future.  Register here.

Upcoming Industry Events


FCA's Live & Local' programme 

The FCA is now running a series of events for regulated firms in London, Birmingham, Belfast, Cardiff, Edinburgh, Manchester, and Newcastle.

The events will cover regulatory issues affecting general insurance, mortgages and non-bank services. See insight for further details.

 

Healthcare Unblocked 2018 

This flagship conference, organised by Unblocked Events,  returns to ETC Venues, Prospero House, SE1 on Friday, 9 November, register via this link

techUK Training Courses

We offer a wide range of training courses for our members. Upcoming courses include:

09 November - Drafting and Negotiating Service Level Agreements
12 November - Leadership for Technical Managers
19 November - Contract Law: Understanding and Mastering Contracts

22 November - GDPR - Upheaval or more of the same?
28 November - Winning Demos Masterclass

10 December - Blockchain Masterclass

Click for a FULL LIST of our training courses

 


 

 

  • Ruth Milligan

    Ruth Milligan

    Head of Programme | Financial Services and Payments
    T 020 7331 2173

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