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Uk Regulator Warns Insurers Banks About Responsible Use Of Customers Big Data - Latest News

UK watchdog warns financial firms over Big Data

LONDON (Reuters) - Britain’s banks and insurers ... firms have been using Big Data on customers, which can include social media use, for example to price motor or health insurance more accurately. But ... read more

London Warns Of Higher Bank Costs And Customs Delays From ‘No Deal’ Brexit

But the papers also warn that UK customers could face higher costs ... EEA clients will no longer be able to use the services of UK-based investment banks,” the advice paper warns. A ‘no deal’ Brexit ... read more

BoE regulator fears Brexit planning will strain its resources

Mrs Morgan wanted to know if these plans threatened the UK's financial ... The PRA is responsible for the prudential regulation and supervision of approximately 1,500 banks, building societies, credit ... read more

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What’s the big deal: Big data in the financial services sector

Customers now want that experience replicated in the FS sector. Banks, for example ... companies on consumer behavior whilst the use of cloud computing technologies has made it cheaper to use powerful ... read more

EU Welcomes Big Data Legislation

Each country, concerned about citizens’ personal data, big data analytics and security, was attempting to come up with its own legislation to control data. The EU decided to enact General Data Protect... read more

Leveling the Playing Field: Cloud as the Enabler of Innovation in Financial Services

Today’s business differentiators, such as the use of chatbots ... access to abundant customer data—they can also contribute to established organizations being less agile than newer market entrants. Es... read more

Why I'm Closing My Bank Accounts While I Still Can

Not long ago I walked into a local branch of my bank – the 13th largest bank in the United States based on consolidated banking assets, according to the Federal Deposit Insurance Corporation's (FDIC) ... read more

5 Things to Remember as the Big Data Debate Heats Up

But banking has also lost touch with the intangible social elements of someone’s life that help a bank really know its customers well. Big Data ... A responsible, sophisticated, and transparent use of ... read more

Blockchain Week in Review - November 2018

With respect to usable “big data,” Chairman Giancarlo added: “Indeed, the forced standardization of data formats and fields and collective use of ... outside of the UK to comply with these regulations ... read more

Disintermediation And Decentralization: A Familiar Tune For Credit Unions?

Allied with the demands from post-crisis regulation, these developments present a challenge to established depository institutions. My talk is about disintermediation and decentralization. These are b... read more

Wells Fargo hit with subpoenas over auto insurance scandal

A New York regulator subpoenaed two Wells Fargo divisions Tuesday, demanding the big ... insurance program in September 2016 and the bank takes "full responsibility for our failure." Wells Fargo also ... read more

FCA warns financial firms over Big Data

LONDON (Reuters) - Britain’s banks and insurers must take the lead in spelling out how they will use data collected ... firms and their customers. And regulation is central because it will help define ... read more

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