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The dominance of a handful of cloud service providers in the financial sector raises concerns about operational resilience and the bargaining power vendors have in negotiations with smaller FS players, according to a US Department of the Treasury report.
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Tide, the leading digital business banking platform, has completed its purchase of Funding Options, a UK marketplace for business finance, following FCA approval. The proposed acquisition was announced in November 2022.
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The Office of the Comptroller of the Currency (OCC) today announced the selection of Kristen Baldwin to be the agency's Chief Information Officer (CIO), effective February 26, 2023.
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A senior board member at the Bank for International Settlements has called for a co-ordinated regulatory response to restrict the incursions of Big tech firms like Amazon, Apple and Google into financial services, arguing that the current rules are "not fit for purpose".
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Fintech Australia and the Financial Data and Technology Association (FDATA) are calling on Australia's competition watchdog to intervene in ING Bank's planned upgrade to an Open Banking-related system.
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