The In Focus section of this Newsletter includes information on the FinCoNet Secondee Programme and an article on the new regulatory regime in Ireland for hire purchase, BNPL and consumer hire.
This second 2022 issue of the FinCoNet Newsletter includes:
ASIC updates ePayments Code
The ePayments Code applies to consumer electronic payment transactions, including ATM, point of sale and credit card transactions, online payments, internet and mobile banking, and BPAY (a bill-paying service).
The New OJK Regulation on Public and Consumer Protection in Financial Sectors
A rule-based approach enforces the high-level principles on financial consumer protection that require uniformity and acts as guidance to avoid confusion in implementation.
Break the Bias: Evidence Shows Digital Finance Risks Hit Women Hardest
Emerging evidence shows that women are more likely to experience most risks identified in CGAP’s consumer risk typology.
Platform-Based Finance: Are Regulators Up to the Data Protection Task?
There is a lot of excitement within the financial inclusion community around the use of “alternative data.” The hope is that by using digital data not traditionally factored into financial services but widely available today, providers will be able to offer low-income people better, more affordable financial services at scale.
Irish retail banking sector facing significant change
The retail banking sector in Ireland is currently undergoing significant change, following the decision by both Ulster Bank Ireland and KBC Bank Ireland to withdraw from the Irish market.
The Banco de Portugal’s strategy towards transparency and engagement with banking conduct stakeholders
The Banco de Portugal is accountable for its market conduct supervisory activities, recognising the importance of engaging with its stakeholders. It pursues a 360-degree assessment approach, bridging the gap between the banking conduct supervisor and its stakeholders