Compliance in monetary companies will likely be drastically improved by leveraging revolutionary technology-based assessments which draw on regulatory knowledge from round 180 jurisdictions, as a part of a collaboration between Large 4 auditing agency PwC and Regtech CUBE.

PricewaterhouseCoopers (PwC) Switzerland, PwC UK and London‘s CUBE will likely be engaged on an initiative that may see the organizations remodel the monetary compliance sector through the use of PwC’s experience in regulatory compliance in addition to CUBE‘s Regtech platform.

As first reported by Finextra, the primary stage of this collaboration will embody the launch of KYR, a service developed to disrupt the standard compliance house. KYR, or “Know Your Laws,” transforms or essentially modifications how corporations undertake and implement compliance necessities.

This fast, tech-based evaluation, which makes use of regulatory knowledge from round 180 jurisdictions in 60 totally different languages, goals to hurry up the method of understanding relevant rules whereas figuring out how the organizations are complying with them.

This affords appreciable time-savings when in comparison with extra conventional handbook processes. It allows monetary establishments to raised perceive their regulatory necessities, and provide compliance in an extra environment friendly and efficient method.

KYR is reportedly the primary service of its form at the moment out there and has generated correct and dependable outcomes through the 6 months of beta-testing.

Due to the complexity of guaranteeing regulatory compliance, monetary service suppliers normally battle to precisely establish the rules which will apply to them, notably if they provide companies in a number of totally different jurisdictions. It can be difficult to remain compliant if monetary establishments present a various vary of merchandise.

Banking establishments with a global footprint have to know a mess of fixing regulatory pointers which will have an effect on totally different enterprise areas, which is commonly a tedious and time-consuming job.

This complexity and lack of enough regulatory traceability has led monetary service suppliers to introduce slightly advanced and dear working environments which can be unable to reveal compliance. KYR has been particularly designed to deal with this subject.

KYR affords the next:

• a fast scoping of related rules utilizing CUBE’s proprietary tech
• an entire view of what obligations the service supplier should adjust to
• a niche evaluation of the place establishments are falling brief

The KYR service goals to deal with the problem of regulatory traceability and affords a possibility for monetary companies suppliers to reliably establish after which successfully apply the related rules. After finishing this step, they will map out the necessities to particular processes, controls and coverage areas to reveal strict compliance.

George Stylianides, World FS Threat lead, PwC UK, said:

“Our collaboration is accelerating how we help purchasers to outline their regulatory obligations and reveal compliance. Having a repeatedly up to date golden supply of rules, with distinctive language translation functionality, and the power to align rules to shopper particular or pre-defined operational taxonomies is a game-changer.”

Ben Richmond, Founder and CEO of CUBE, remarked:

“We’re delighted to be partnering with PwC, an industry-leader within the monetary companies and regulatory sector. This collaboration will allow us to ship additional worth to our clients combining CUBE’s main regulatory intelligence RegPlatform and PwC’s area experience. We look ahead to working collectively to ship transformative regulatory compliance options to the world’s main monetary establishments.”

Matthias Leybold, Knowledge & Analytics Chief at PWC Switzerland, added:

“We’re impressed with CUBE’s functionality to curate and section regulatory paperwork right down to the person obligation. Due to this, regulatory themes can simply be seen throughout totally different rules and it’s now attainable to hyperlink particular person obligations to particular shopper controls.”

The previous decade has been monumental for the South African podcast scene. Radio stations used to clip snippets of on-air interviews, put up them on-line, and name it podcasting. However with numerous latest podcast launches, it’s clear that South Africa is getting into a golden period for the medium. In 2019, podcasts had been already the quickest rising sector for media consumption, however 2020 marked a watershed second as podcast creators gained visibility and listeners in droves — not simply throughout the African stage, however globally too.

Considered one of South Africa’s most outstanding DJs and podcasters, Macgyver Mukwevho, a.ok.a. MacG, knew the audio area intimately. He kicked off his profession in 2000 at simply 16 as a broadcaster on e-tv’s youth programme Craz-e. He then turned a DJ on Gauteng-based station YFM earlier than internet hosting a number of reveals on 947, a well-liked Prime 40 station in Johannesburg. 

When MacG misplaced his gig at 947, he determined to fill his time by experimenting with long-form video podcasts which he co-hosted along with his YFM modern Lenn Moleko. The primary episode of Podcast and Chill with MacG was produced in summer season 2018, with a easy format — a relaxed chat that entertained, educated, and supplied a type of escape for listeners. “We needed a platform to specific our ideas unfiltered,” he defined to Patreon. As with many early-stage artistic ideas, MacG initially solely shared it along with his shut buddies. However phrase unfold quick.

In addition to unpacking scorching subjects in South African leisure information, Podcast and Chill with MacG hosts interviews with creators and artists. “To start with, I used to have individuals I do know come by way of as friends — these had been individuals I had developed relationships with throughout my time on radio,” he added. However quickly personalities had been reaching out to MacG immediately to look as friends on the present. “DJ Ankletap [who hosts YFM’s Breakfast show] got here by way of and the idea of movie star interviews was just about born from there.”

He has since interviewed creatives like radio pioneer DJ Sbu, actress and TV host Candice Modiselle, and dancer Zodwa Wabantu. “It has developed to turn into an important voice in society that celebrities wish to be related to,” stated MacG. 

Along with Moleko, the podcast has a 3rd host, MacG’s associate, who prefers to not be on digicam. In early episodes, they jokingly known as her “The Ghost Girl,” which, a lot to their amusement, ended up sticking. However they may by no means have predicted that their quickly rising viewers would so wholeheartedly dedicate themselves to discovering who she is. To the Ghost Girl’s credit score, her true identification has by no means been revealed. 

However whereas their viewership was rising and their video podcast format was standard, followers, or what MacG calls ‘Chillers,’ had been begging for an all-audio model.

Then the pandemic hit and recording the podcast dwell in-studio turned difficult to say the least. Podcast and Chill entered a brand new audio-only period which MacG felt performed an important position in serving to individuals discover an escape throughout a tough yr. South Africa’s lockdown restrictions had been robust, with the gross sales of alcohol banned for months on finish, so episodes provided listeners much-needed chill time. 

Sporadic electrical energy and connectivity points imply on-the-go listening has at all times been a problem for the video-based podcast. However now, due to a lot smaller audio-only recordsdata, Chillers based mostly in South Africa can profit from WiFi hotspots and at last take heed to the present wherever they need.

With the South African podcast area increasing so rapidly, MacG’s recommendation to up-and-comers is consistency.

“Provide the product, and the demand will include that.”

Being on Patreon is a game-changer for Mukwevho, Moleko, and the Ghost Girl. “It’s superb as a result of the Podcast and Chill group are very invested within the development of the present, and what higher place to offer them that than on Patreon,” shared MacG. “We wish to give our patrons an unique expertise they’ll’t get wherever else — as a token of appreciation for all their help by way of these attempting occasions”. 

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Contact ‘n Go Group (TNG) and Principal Asset Administration revealed on August 18, 2021 that they’re introducing the Principal e-Money Fund, which is the underlying fund for Contact ‘n Go’s GO+. This product is now Shariah-compliant, the replace confirmed.

TNG’s administration famous that this makes GO+ fund Malaysia’s very first Shariah compliant digital pockets product.

Via this Islamic fund, Contact ‘n Go might be permitting its shoppers to proceed accessing low-risk cash market investments for as little as RM10 whereas with the ability to earn the identical potential return every day. Prospects might also use the funds for all transactions by way of the digital pockets.

GO+ was first launched in March of this 12 months and has now exceeded 1.2 million customers, up to now.

The product goals to convey collectively Contact ‘n Go digital pockets’s experience in tech and associated ecosystems and Principal’s essential experience in supporting funding methods and asset administration.

Effendy Shahul Hamid, Group CEO at Contact ‘n Go Group, acknowledged:

“Once we first launched GO+, there have been calls from our customers for the underlying fund to be Shariah-compliant. We listened to them, and instantly went to work. We now have a product that’s much more inclusive than it was, and completely in-line with our objectives of bringing primary monetary companies to everybody.”

Munirah Khairuddin, CEO of Principal Asset Administration, remarked:

“We’re at present the main Islamic asset supervisor in Malaysia, among the many prime 5 international Islamic asset supervisor, and on the forefront of creating new Shariah-compliant merchandise and options within the international market. We handle a complete of RM96.7 billion funds in Southeast Asia, out of which, RM30.69 billion is Islamic funds, as of June.”

As coated in July 2021, AIA Malaysia had revealed that it will likely be buying a minority stake in TNG Digital, which is the proprietor of Contact ‘n Go digital pockets. This deal will reportedly be a key a part of a long-term strategic partnership.

The Edge reported final month that this transaction ought to make AIA the fourth listed shareholder of TNG Digital. The agency might be becoming a member of others with a stake within the agency, together with CIMB Group Holdings, China’s Fintech big Ant Group in addition to New York’s funding firm Bow Wave Capital Administration.

The report from the information outlet cited a supply that exposed that this deal could worth TNG Digital at round $700 million or about RM three billion.

TNG Digital is reportedly seeking to safe as a lot as $250 million in capital by the tip of this 12 months, which ought to exceed the quantity acquired in Malaysia‘s largest Fintech funding spherical of $70 million (a file that was set by native digital pockets agency Enhance).

Did you ever cease to suppose whether or not R.L. Stine or Stephen King cranked out so many horror books through the years as a result of a witch was demanding them to on ache of loss of life?

Effectively, that is what Netflix’s upcoming spooky thriller Nightbooks may need you pondering, with the trailer channelling Goosebumps power with a bit extra edge to it. Evil Useless‘s Sam Raimi is producing, and there are many leap scares.

Jessica Jones‘ Krysten Ritter performs a frankly terrifying witch who traps Alex (Winslow Fegley), a child obsessive about scary tales, and calls for he write a brand new one each night time or he is toast. Alex finds Yasmin (Lidya Jewett) additionally trapped on this unusual, magical residence, and so they’ve obtained to get out of there earlier than The Finish.

Nightbooks lands on Netflix quickly, date TBC.

Replace: Knowledgeable by the enter of lots of of creators, Patreon’s quarterly tips updates at the moment are finalized and stay. Additional down on this submit, you’ll discover among the group’s takeaways from creator suggestions.

Replace on Creator Coverage Engagement at Patreon

In April 2021, Patreon launched our new Creator Coverage Engagement Program (“CPEP”) to assist contain creators in shaping the Group Tips and insurance policies that have an effect on them. By way of CPEP, our Coverage Crew goals to suggest coverage updates on a quarterly foundation and solicit creator suggestions earlier than these insurance policies are finalized. We additionally host stay Q&As to listen to straight what’s on creators’ minds.

For the reason that spring, lots of of creators have gotten concerned in CPEP, permitting us to include your ideas on insurance policies to maintain teen creators secure, help creators who’ve emerged from the legal justice system, and extra.

The subsequent spherical of CPEP is upon us, and we’re excited on your enter within the coming days on this quarter’s proposed coverage updates, together with: 

Monetary Recommendation

Because the finance group grows on Patreon, we’re exploring updates to our tips to assist us adjust to client safety legal guidelines in sure areas that require monetary advisors be licensed, and to encourage patrons to verify with monetary advisors earlier than performing on monetary recommendation content material they encounter on the platform.

Chargebacks

Chargebacks are initiated when people, or in Patreon’s case patrons, attain out to their monetary establishment to dispute a transaction. Generally, chargebacks can facilitate fraudulent exercise, which harms creators and Patreon alike. Our proposed replace would state that patrons who file extreme or fraudulent chargebacks could also be suspended from supporting new creators, or from accessing Patreon altogether. 

We plan to include your enter into coverage updates which shall be finalized and introduced later this month. Listed below are a number of methods to share your ideas via CPEP:

• Be a part of the Coverage Crew on Tuesday, August 3 for an additional stay Q&A. (Due to creator suggestions shared on the April Q&A, we’ve moved to a extra inclusive occasions platform that accommodates stay captioning.)
• E-mail the group at [email protected].
• Join workplace hours with our Head of Creator Coverage Engagement.
• Cease by our designated #policy-live-q3-2021 Discord channel within the 24 hours following the stay Q&A. 

The Coverage Crew is dedicated to creating Patreon a safer, extra inclusive, and extra clear place for creators and patrons. With that mission in thoughts, we sit up for participating with you within the weeks forward.

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How creator suggestions knowledgeable our coverage

Alternative for added schooling on chargebacks
Creators on the entire supported each coverage proposals, which targeted on monetary recommendation and chargebacks. The latter replace is designed to guard creators in opposition to fraudulent and extreme chargebacks, and a few creators requested for extra data round what chargebacks are. In consequence, we included a hyperlink in our tips replace to a full weblog submit on what occurs when a patron recordsdata a chargeback, what Patreon does to reply in your behalf, and how one can assist us restrict them.

Centered grownup content material coverage programming 
In every of the primary two rounds of the Creator Coverage Engagement Program, creators expressed the need to raised perceive the nuances round Patreon’s grownup content material tips, in addition to exterior elements thought-about in coverage improvement. To proceed educating our group on this topic, we’re planning to commit our subsequent coverage stay occasion to addressing Patreon’s grownup content material creators particularly. We sit up for connecting with this group on September 23rd.

Thanks on your continued candor and engagement in shaping Patreon coverage. In case you have extra questions or feedback, you’ll be able to at all times attain our Coverage Crew at [email protected], or join coverage workplace hours with our Head of Creator Coverage Engagement. We’re excited to proceed this collaborative policymaking within the months and years to return.

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The Union Financial institution of the Philippines (UnionBank) has teamed up with crypto-asset custodian Hex Belief with a view to take a look at out its digital asset custody companies – that are compliant with the rules supplied by the Bangko Sentral ng Pilipinas (BSP), the nation’s reserve financial institution.

By the partnership, UnionBank and Hex Belief will likely be providing digital asset custody as an inner service for the financial institution’s employees (as a part of a pilot). The testing will likely be carried out to organize for the subsequent section, which is able to embody providing a fully-commercialized crypto-asset custody service for the financial institution’s shoppers.

UnionBank‘s administration famous that this transfer allows them to deal with the necessities of shoppers who at the moment are searching for a trusted and controlled establishment to safeguard their crypto-assets.

Hex Belief is a fully-licensed, insured monetary establishment that provides bank-grade custody for digital belongings. The corporate has developed a proprietary platform – known as Hex Secure™ – that gives  a custody service for banking platforms, monetary establishments, fund managers, buying and selling platforms, and companies.

Henry Aguda, CTO, Chief Transformation Officer, Union Financial institution of the Philippines, acknowledged:

“Digital belongings are right here to remain, whether or not it’s within the type of cryptocurrency, NFTs or tokenised belongings, and we’re seeing extra market demand for these. We’re excited to be the primary Philippine financial institution to pilot a custody service for digital belongings for our personal staff, overseen by the BSP, in order that we will put together the groundwork for a secure and guarded system for purchasers’ digital belongings.”

Calvin Shen, Head of Gross sales & Enterprise Improvement, Hex Belief, remarked:

“Hex Belief’s collaboration with UnionBank allows safe entry to the digital asset ecosystem by way of our award-winning enterprise-level custody platform. Thousands and thousands of the financial institution’s clients will quickly have entry to this new asset class. We’re proud to be part of the financial institution’s dedication because the Philippines’ main digital financial institution.”