AxiomSL, the leading provider of regulatory reporting and risk management solutions, today announces that an American global systematically important bank (G-SIB) has gone live with AxiomSL’s strategic regulatory platform in the UK, Ireland and the Netherlands.

Envestnet | Yodlee (NYSE: ENV), a leading data aggregation and data analytics platform for digital financial services, today announced a joint initiative with two major data platforms Quovo and Morningstar ByAllAccounts to enable secure, open data access for consumers in regard to their financial data.
The three have united to develop the Secure Open Data Access (SODA) framework, a set of consumer-centric principles for data access and financial data security to promote transparency, traceability and accountability in the financial services ecosystem.

The joint principles identify the essential components of a successful data access regime in the United States. Supported by the Consumer Financial Data Rights (CFDR) Group, the principles identify standards that financial technology companies must uphold to enhance financial data security and create more transparency for consumers, financial institutions and policy makers into who accesses consumers' financial data and for what purpose. Since their emergence, financial technology firms have created tools that arm consumers with better insight into their finances. The SODA principles provide standards to maintain this open access to financial data in a secure manner and better position the United States to keep pace with "open banking" advances around the world.

"Through our involvement in existing industry groups focused on data access standards, we have noticed that consumers are not always as top-of-mind as they should be," said Anil Arora, CEO of Envestnet | Yodlee. "The principles released today reiterate our belief that it is the consumer's right to both access their data and permit it to be referenced through trusted third-party tools and applications, and that this consumer-permissioned access should not be limited or restricted."

Hackers managed to steal hundreds of millions of pesos from Mexican banks by sending thousands of false orders to wire funds to bogus accounts, according to Reuters.

International securities regulators are to establish a 'Fintech Network' to share information and knowledge on emerging technologies and risks to the financial system.
At its annual meeting in Budapest this week, the International Organisation of Securities Commissions (Iosco) earmarked the challenges of fintech and digitilsation as one of four top areas of focus for the coming year.

Canada's central bank has begun working with the country's six largest lenders to boost the cyber-resilience of the wholesale payments ecosystem as part of a wider effort to improve industry collaboration in the fight against hackers.

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today it has partnered with Rippleshot, a fraud analytics firm, to offer Card Risk OfficeSM Fraud Warning, an early breach detection solution that allows financial institutions to identify potential fraud events 30-60 days prior to network alerts.

Rising fears of cybercrime are prompting financial services firms to beef up their spending on security, according to research from Lloyds Bank Commercial Banking.