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DFRC-01 The Fintech Compliance Framework Assignment

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Added on: 2022-12-23 05:14:00
Order Code: 481991
Question Task Id: 0
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  1. What is FinTech?
  2. Outline the primary elements of the FinTech ecosystem.
  3. How did FinTech develop and what were some of the important milestones?
  4. What is the regulatory view of FinTech?
  5. What are the challenges FinTech poses for the traditional Financial Services Providers – both retail and wholesale?
  6. How are and will global Financial Services providers react and respond to the threats that FinTech poses to their business model?
  7. How do FinTech companies differentiate their offerings in terms of customer focus, technological innovation and routes to market?
  8. What is meant by Compliance in a FinTech environment?
  9. How does compliance differ in the FinTech space from that of the traditional Financial Services Providers?
  10. What are the constituent parts of the regulatory environment surrounding Fintech?
  11. Which regulatory bodies and institutions have the most influence on the growth and development, or otherwise of the Fintech sector?
  12. Industry Bodies involved in standard setting differ from the regulatory bodies in what ways and how important is their input to Fintech?
  13. Are modern financial institutions and Fintech’s paying the price for sins of the past?
  14. How can the Central Bank of Ireland influence the development of Fintech in Ireland
  15. Outline the primary responsibilities undertaken by the Central Bank of Ireland for the authorisation of credit institutions, payments institutions and electronic money institutions.
  16. Describe the following – Credit Institution, Payments Institution and Electronic Money Institution.
  17. What are the regulatory requirements for authorisation of a e-money payment provider?
  18. Outline the role of the European Banking Authority in the area of Financial Services and more particularly in the case of Fintech institutions?
  19. Why is PSD2 referred to as ‘Open Banking’?
  20. What is an API?
  21. Outline the roles and differences between Payment Initiation Service Providers and Account Information Service Providers.
  22. Describe what is meant by the terms AML & CFT.
  23. What are the main regulatory instruments used in both the US and Europe to lead the battle against such illicit transactions and activities?
  24. How does AML / CFT impact the business of the various forms of Fintech players, or does it?
  25. Outline the main areas covered and changes which occurred in the latest AML Directive.
  26. Looking forward, what else do you think may need to be considered for future directive?
  27. Who protects your data and what exactly is protected?
  28. Describe the roles of both the EU and the Irish Data commissioners?
  29. Is the real risk with the institution or Fintech you use or is there a real risk around the device or platform you access your account or details on?
  30. As data breaches are announced, it is noticeable that banks tend not to be high on the list.
  31. Is this due to greater security or to less visibility and openness than other sectors?
  32. In the past it may have been difficult to get answers and support from your banks.
  33. Does the availability of data driven solutions and supports bring Fintech to the forefront and give it an advantage over the traditional banks?
  34. Can Fintech bring Financial Services, in a cost efficient and protected manner, to the masses of underbanked and unbanked globally?
  • Uploaded By : Katthy Wills
  • Posted on : December 23rd, 2022
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