From FinTech to RegTech: World Arena Group to host the very first Regulatory Technology summit in the Bahrain

With FinTech taking the region by storm, can RegTech save the financial industry from complicated and expensive regulatory compliance issues? 13th November 2017, Dubai, UAE: The World Arena Group, a leading conference organizer with offices in UAE, UK, and USA, announced that it will host RegTech MENA; the first regulatory technology summit in Bahrain on…

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Bahrain to open dedicated fintech hub

The Bahraini Government and the region’s Central Bank are backing the creation of a new fintech hub in a 10,000 square metre space overlooking the waters of Bahrain Bay and the Arabian Gulf. Scheduled to open in February 2018, the hub will comprise co-working spaces, communal areas, workstations, hot desks, and a variety of other…

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Financial regulators from Hong Kong and Dubai enter into FinTech cooperation agreement

The Hong Kong Securities and Futures Commission (SFC) and the Dubai Financial Services Authority (DFSA) entered into a cooperation agreement on August 28 to establish a framework for mutual assistance to keep abreast of the development and application of financial technology (FinTech). SFC regulates the securities and futures market in Hong Kong, while DFSA is the independent…

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Regtech could save banks £2.7bn on AML compliance

Banks are squandering £2.7bn a year because of outdated anti-money laundering (AML) systems – costs that could be saved by adopting machine learning and big data technology, new calculations show. According to FortyTwo Data, an AML technology company, financial institutions are wasting armies of staff on chasing millions of false leads – red flags that…

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