Global Scans · Financial Services · Weekly Summary

• [New] The Financial Conduct Authority has already indicated that governance, transparency and data ethics will form part of its scrutiny of AI adoption across financial services. Insurance Business
• [New] By standardizing data and providing centralized oversight, RegTech enables firms to efficiently manage their regulatory obligations under different regimes, reducing operational fragmentation and mitigating the risk associated with non-adherence to global financial services regulation. Verified Market Research
• [New] Embedded finance is at the vanguard of fintech innovation and will transform the future delivery of financial services. Abdul Latif Jameel
• [New] More than half of UK financial services leaders believe their current frameworks for managing technology-related risks are not fully sufficient to address AI-related challenges. Insurance Business
• [New] Cryptocurrency firms will be exempt from rules that ensure financial services companies act with integrity and in the interest of consumers. Contentworks
• [New] Even more so, spending on technology within financial services firms is expected to grow in the coming years. Brookings
• [New] AI-first banks will need to develop modular, flexible, cloud-based core technology platforms, stated Mumbai, India-based Thomas, who leads McKinsey's banking work across Asia-Pacific and works with a host of financial services clients amid the rapid growth of Asia's banking sector. QA Financial
• [New] The financial services industry, which is effectively the backbone of the global economy, is taking climate risk extremely seriously. Manifest Climate
• Africa's economic growth is projected to reach 4.4% by 2026, driven by a combination of factors such as fiscal consolidation, rising domestic demand, and growth in resilient sectors including financial services, digital, telecom and tourism. Africa.com
• Financial Services: IBM is keenly focused on the financial services sector, anticipating that generative AI will significantly improve banks' financial performance. The Chronicle-Journal
• Singapore is introducing new measures to prevent scam mules from accessing services that could facilitate fraud, including financial, telecommunications, and government digital services. National Technology News
• The DeFi (Decentralized Finance) sector is projected to reach new heights, with trading volumes potentially exceeding $4 trillion and Total Value Locked nearing $200 billion by year-end 2025, signaling a maturation and mainstreaming of decentralized financial services. FinancialContent
• The Ministry of Health understands the unique risks of medical AI; the Financial Services Commission grasps the complexities of algorithmic trading; the Transport Ministry is best placed to address autonomous vehicles. Information Technology and Innovation Foundation | ITIF
• 60% of financial services firms outside the US will adopt sovereign cloud environments to comply with DORA and related data sovereignty regulations. Software Development Company - N-iX
• In 2025, fintech will continue reshaping financial services, but the era of unchecked frenzy is giving way to measured innovation. Host Merchant Services
• The multi-year agreement builds on years of collaboration and will see Lloyds adopt new private cloud and mainframe solutions to deliver faster, more reliable financial services for customers. Bizclik Media Ltd

Last updated: 27 October 2025