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Top-tier athletes unite once more for the highly anticipated FlowBank Championship

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GENEVA, May 2, 2024 /PRNewswire/ — FlowBank, the innovative Swiss online bank, proudly unveils its lineup for the second edition of the FlowBank Championship. Leading figures including Anthony Joshua, Israel Adesanya, Antoine Dupont, Ana Marković, Esteban Ocon, and Peter Sagan are set to compete in this distinctive online trading competition scheduled from May 1 to May 31, 2024. Following the resounding success of the inaugural 2023 FlowBank Championship, these sports icons are eager to showcase their trading skills and highlight the accessibility of financial markets to their fans and online communities.

Charles Henri Sabet, founder of FlowBank, expressed his excitement for the event’s return, stating, “The remarkable engagement we witnessed last year underscores the triumph of this initiative. It not only drew significant attention to the parallels between sporting excellence and trading but also underscored the importance of financial literacy. Elevating the competition in its second year was a natural progression for us.”

In an exciting development, Alexander Zverev, FlowBank ambassador and third-place finisher in the inaugural edition, will take on a mentorship role. “Transitioning from competitor to mentor is invigorating. Having navigated the challenges these athletes will encounter in this competition, I eagerly anticipate sharing my insights and guiding this year’s exceptional group of athletes,” Alexander Zverev remarked.

Throughout the championship, FlowBank will provide athletes with tools, platforms, and resources to deepen their understanding of financial markets as they compete for the title of top trader on a virtual portfolio.

Simultaneously, the FlowBank community will gain unprecedented access to the athletes’ trading strategies, with opportunities to enhance their financial literacy through tailored educational content, including podcasts and comprehensive articles.

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“The FlowBank Championship is more than a competition; it underscores our dedication to democratizing access to financial markets, nurturing an informed and engaged community,” concluded Charles Henri Sabet.

The FlowBank Championship will also feature insights from longstanding FlowBank ambassador Severin Lüthi and tennis legend Martina Hingis, with Hingis providing commentary and analysis in a weekly podcast throughout the competition.

Beyond the FlowBank Championship, FlowBank remains the primary sponsor of Swiss Tennis, Swiss Ice Hockey, and the Gonet Geneva Open, reinforcing its steadfast support for Swiss sports across all levels and bolstering its sponsorship portfolio.

Since its inception in November 2020, FlowBank has witnessed remarkable growth and continues to expand its services. Presently, FlowBank offers access to over 50,000 financial instruments and stands as the only Swiss bank to offer zero commission on Swiss stocks, alongside the lowest trading fees in Switzerland. The bank remains committed to ongoing investments in technology, innovation in features and products, and above all, prioritizing the client experience.

Follow @flowbank on social media for the latest news and updates on the FlowBank Championship.

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About FlowBank

Established in 2020 by CEO Charles Henri Sabet, with headquarters in Geneva and an office in Zurich, FlowBank presently employs 140 experts. The bank delivers online investing and trading services, providing access to over 50,000 financial products at competitive prices. Recently recognized as Switzerland’s most competitive trading provider by Neue Zürcher Zeitung, FlowBank is licensed by the Swiss Financial Market Supervisory Authority (FINMA) and is a member of esisuisse. Additionally, it holds membership in the Swiss Bankers Association.

Facebook: FlowBank@FlowBank
Instagram: @flowbank
LinkedIn: FlowBank
X: FlowBank@flowbank_sa

Media Contact
FlowBank SA
Caroline Puder-Lévy, Chief Marketing Officer
Esplanade de Pont-Rouge 9
1211 Geneva 26
[email protected]
+41 22 888 6409

Photo: https://mma.prnewswire.com/media/2403595/FlowBank_SA.jpg
Logo: https://mma.prnewswire.com/media/2315878/4685193/FlowBank_logo.jpg

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Cision View original content:https://www.prnewswire.co.uk/news-releases/top-tier-athletes-unite-once-more-for-the-highly-anticipated-flowbank-championship-302134625.html

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Corlytics Hires New CTO, Chief Data Officer, and Chief Tech Architect

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Corlytics, a leading provider of regulatory risk intelligence solutions, has announced the appointment of three key executives: a new Chief Technology Officer (CTO), Chief Data Officer (CDO), and Chief Tech Architect. These strategic hires are set to bolster Corlytics’ capabilities and drive its mission to deliver cutting-edge regulatory risk intelligence.

The New Appointments

Corlytics’ latest appointments include highly experienced professionals who bring a wealth of knowledge and expertise to the company.

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Key Appointments:

  • Chief Technology Officer (CTO): The new CTO will oversee the company’s technology strategy, ensuring that Corlytics remains at the forefront of innovation in regulatory risk intelligence.
  • Chief Data Officer (CDO): The CDO will be responsible for managing and leveraging data to enhance Corlytics’ solutions, providing clients with deeper insights into regulatory risks.
  • Chief Tech Architect: The Chief Tech Architect will focus on the technical architecture of Corlytics’ platforms, ensuring scalability, reliability, and security.

Enhancing Regulatory Risk Intelligence

With these strategic hires, Corlytics aims to enhance its regulatory risk intelligence offerings, providing clients with more comprehensive and actionable insights.

Enhanced Capabilities:

  • Advanced Analytics: Leveraging advanced analytics to provide deeper insights into regulatory risks and trends.
  • Data Integration: Improving data integration capabilities to provide a holistic view of regulatory risks across various jurisdictions and sectors.
  • Scalable Solutions: Developing scalable solutions that can grow with clients’ needs, ensuring they remain compliant in an evolving regulatory landscape.

The Importance of Regulatory Risk Intelligence

In today’s complex regulatory environment, effective regulatory risk intelligence is crucial for financial institutions and other regulated entities.

Key Benefits:

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  • Risk Mitigation: Identifying and mitigating regulatory risks before they materialize can save organizations from significant financial and reputational damage.
  • Compliance Management: Enhancing compliance management processes to ensure adherence to evolving regulations.
  • Strategic Decision-Making: Providing data-driven insights that support strategic decision-making and long-term planning.

Corlytics’ Strategic Vision

The new hires align with Corlytics’ strategic vision of becoming a global leader in regulatory risk intelligence, leveraging technology and data to transform how organizations manage regulatory compliance.

Strategic Goals:

  • Innovation: Continuing to innovate and develop cutting-edge solutions that address the evolving needs of clients.
  • Global Expansion: Expanding Corlytics’ presence in key markets around the world.
  • Client Focus: Maintaining a strong focus on client needs, delivering solutions that provide tangible value and support regulatory compliance efforts.

Future Prospects

With the addition of the new executives, Corlytics is well-positioned to drive future growth and innovation in the regulatory risk intelligence space. The company plans to leverage its enhanced capabilities to expand its market reach and deliver even greater value to clients.

Growth Opportunities:

  • Product Development: Developing new products and features that address emerging regulatory risks and challenges.
  • Partnerships: Forming strategic partnerships with other technology providers and regulatory bodies to enhance Corlytics’ solutions.
  • Market Penetration: Increasing market penetration by targeting new industries and geographic regions.

Conclusion

The appointment of a new CTO, CDO, and Chief Tech Architect marks a significant milestone for Corlytics. These strategic hires will enhance the company’s capabilities, driving innovation and delivering greater value to clients. As Corlytics continues to expand and innovate, it is well-positioned to lead the regulatory risk intelligence market and support organizations in managing their regulatory compliance challenges.

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Source of the news: Fintech Futures

 

The post Corlytics Hires New CTO, Chief Data Officer, and Chief Tech Architect appeared first on HIPTHER Alerts.

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Instant Payments Regulation: Overview for Banks and Corporate Treasurers

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The regulation of instant payments is becoming increasingly important as both banks and corporate treasurers seek to leverage faster, more efficient payment solutions. This article provides an overview of instant payments regulation, highlighting the key considerations and implications for banks and corporate treasurers.

What Are Instant Payments?

Instant payments refer to electronic payments that are processed in real-time or near real-time, enabling the transfer of funds between accounts within seconds. These payments can be initiated and completed at any time, providing convenience and efficiency for both individuals and businesses.

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Key Characteristics:

  • Speed: Funds are transferred almost instantly, reducing the time taken for payment settlement.
  • Availability: Instant payments can be made 24/7, including weekends and holidays.
  • Irrevocability: Once initiated, instant payments cannot be reversed, ensuring finality of the transaction.

Regulatory Landscape

The regulation of instant payments varies across different jurisdictions, with a focus on ensuring security, efficiency, and interoperability of payment systems.

Key Regulations:

  • EU Regulation on Instant Payments: The EU has implemented specific regulations to promote the adoption of instant payments, ensuring that payment service providers offer these services to customers.
  • PSD2: The Second Payment Services Directive (PSD2) in the EU includes provisions that support the development and regulation of instant payments.
  • Local Regulations: Various countries have their own regulations and guidelines to govern instant payments, focusing on aspects such as fraud prevention, consumer protection, and technical standards.

Implications for Banks

Banks play a critical role in the provision of instant payments and must navigate the regulatory landscape to ensure compliance and provide seamless services to customers.

Key Considerations for Banks:

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  • Compliance: Banks must comply with relevant regulations and guidelines to offer instant payment services. This includes adhering to technical standards and implementing robust security measures.
  • Infrastructure: Investing in the necessary infrastructure to support real-time payment processing and ensure system reliability and availability.
  • Customer Education: Educating customers about the benefits and features of instant payments, as well as any potential risks associated with their use.

Implications for Corporate Treasurers

Corporate treasurers can benefit significantly from the adoption of instant payments, which can enhance cash flow management and improve operational efficiency.

Key Considerations for Corporate Treasurers:

  • Cash Flow Management: Instant payments can improve cash flow management by reducing the time taken for payment settlement and providing real-time visibility into account balances.
  • Operational Efficiency: Faster payment processing can streamline business operations, reducing administrative burdens and improving supplier relationships.
  • Risk Management: Corporate treasurers must be aware of the irrevocability of instant payments and implement appropriate controls to prevent fraudulent transactions.

Benefits of Instant Payments

The adoption of instant payments offers several benefits for both banks and corporate treasurers, driving efficiency and enhancing the customer experience.

Key Benefits:

  • Convenience: Instant payments provide a convenient and efficient way to transfer funds, reducing the reliance on traditional payment methods.
  • Cost Savings: Faster payment processing can reduce the costs associated with payment settlement and reconciliation.
  • Enhanced Customer Experience: Offering instant payment services can enhance the customer experience, providing greater flexibility and speed in financial transactions.

Challenges and Future Trends

While instant payments offer numerous benefits, there are also challenges that banks and corporate treasurers must address to fully leverage these services.

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Key Challenges:

  • Security Risks: Ensuring the security of instant payments is critical, particularly given the speed and irrevocability of transactions.
  • Interoperability: Achieving interoperability between different payment systems and networks is essential for the widespread adoption of instant payments.
  • Regulatory Compliance: Navigating the complex regulatory landscape and ensuring compliance with relevant regulations can be challenging.

Future Trends:

  • Increased Adoption: The adoption of instant payments is expected to continue growing, driven by regulatory support and customer demand.
  • Technological Advancements: Advances in technology, such as blockchain and artificial intelligence, are likely to further enhance the capabilities and security of instant payments.
  • Global Standardization: Efforts to develop global standards for instant payments will promote interoperability and facilitate cross-border transactions.

Conclusion

The regulation of instant payments is crucial for ensuring the security, efficiency, and interoperability of payment systems. Banks and corporate treasurers must navigate the regulatory landscape and invest in the necessary infrastructure to provide seamless and secure instant payment services. As the adoption of instant payments continues to grow, it offers significant benefits for enhancing cash flow management, operational efficiency, and the overall customer experience.

Source of the news: The Paypers

The post Instant Payments Regulation: Overview for Banks and Corporate Treasurers appeared first on HIPTHER Alerts.

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Regulators Issue Joint Warning on Bank-Fintech Risks

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Regulators have issued a joint warning highlighting the risks associated with partnerships between banks and fintech companies. This warning underscores the need for careful management of these relationships to ensure regulatory compliance and mitigate potential risks.

Overview of the Joint Warning

The joint warning, issued by a coalition of financial regulators, emphasizes the importance of robust risk management practices when banks partner with fintech companies. These partnerships, while beneficial in driving innovation and enhancing customer services, also introduce new risks that must be addressed.

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Key Points of the Warning:

  • Regulatory Compliance: Banks must ensure that fintech partners comply with all relevant regulations and standards.
  • Risk Management: Robust risk management frameworks must be in place to identify, assess, and mitigate risks associated with fintech partnerships.
  • Data Security: Ensuring the security and privacy of customer data is paramount, particularly given the increasing prevalence of cyber threats.
  • Operational Resilience: Banks must ensure that fintech partnerships do not compromise their operational resilience and ability to deliver critical services.

Benefits of Bank-Fintech Partnerships

Despite the risks, partnerships between banks and fintech companies offer significant benefits, driving innovation and enhancing the customer experience.

Key Benefits:

  • Innovation: Fintech companies bring innovative technologies and solutions that can enhance banking services and products.
  • Customer Experience: Partnerships with fintechs can improve the customer experience by offering faster, more efficient, and personalized services.
  • Cost Efficiency: Fintech solutions can help banks reduce costs and improve operational efficiency through automation and digitalization.

Risks Associated with Bank-Fintech Partnerships

The joint warning highlights several risks associated with bank-fintech partnerships that must be carefully managed.

Key Risks:

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  • Regulatory Risk: Ensuring compliance with complex and evolving regulatory requirements is a significant challenge.
  • Cybersecurity Risk: Fintech partnerships can introduce cybersecurity vulnerabilities, making it essential to implement robust security measures.
  • Operational Risk: The integration of fintech solutions into banking operations can pose operational risks, particularly if not managed effectively.
  • Reputational Risk: Any issues or failures in fintech partnerships can damage the bank’s reputation and customer trust.

Strategies for Managing Risks

To mitigate the risks associated with fintech partnerships, banks must adopt comprehensive risk management strategies and ensure rigorous oversight.

Key Strategies:

  • Due Diligence: Conducting thorough due diligence on fintech partners to assess their regulatory compliance, security practices, and financial stability.
  • Contractual Safeguards: Including robust contractual safeguards in partnership agreements to outline responsibilities, expectations, and compliance requirements.
  • Continuous Monitoring: Implementing continuous monitoring and assessment of fintech partnerships to identify and address emerging risks.
  • Collaboration with Regulators:: Engaging with regulators to ensure that partnerships comply with regulatory requirements and to stay informed of any changes in the regulatory landscape.

The Role of Technology

Technology plays a crucial role in managing the risks associated with bank-fintech partnerships, offering tools and solutions that enhance oversight and compliance.

Key Technologies:

  • RegTech Solutions: Regulatory technology (RegTech) solutions can automate compliance processes, ensuring that fintech partnerships adhere to regulatory requirements.
  • Cybersecurity Tools: Advanced cybersecurity tools and solutions can enhance the security of fintech partnerships, protecting against cyber threats.
  • Risk Management Platforms: Integrated risk management platforms can provide real-time visibility into partnership risks and support proactive risk mitigation.

Conclusion

The joint warning issued by regulators highlights the need for careful management of bank-fintech partnerships to ensure regulatory compliance and mitigate potential risks. While these partnerships offer significant benefits, including innovation and enhanced customer experience, they also introduce new risks that must be addressed through robust risk management strategies. By leveraging technology and engaging with regulators, banks can effectively manage these risks and capitalize on the opportunities presented by fintech partnerships.

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Source of the news: American Banker

The post Regulators Issue Joint Warning on Bank-Fintech Risks appeared first on HIPTHER Alerts.

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