Global Scans · Financial Services · Weekly Summary

• [New] Canada's financial services landscape is under growing pressure to change how it approaches digital identity - not because it already has, but because escalating fraud risks and heightened customer expectations now demand it. BiometricUpdate.com
• [New] The changes to intragroup exemptions will ensure firms have wider and more streamlined access to exemptions for their intragroup activity, supporting the growth and competitiveness of the UK's economy and financial services sector. GOV.UK
• [New] BFSI (Banking, Financial Services, and Insurance) accounts for 15% (USD 2.5 billion), leveraging edge AI for fraud detection and real-time risk analytics. Cision PR Newswire
• [New] The 2026 budget predicts investments into infrastructure such as the National Payments Centre and Centralized Identity Management, which will simplify payments and boost the financial services sector. BiometricUpdate.com
• [New] EBA flags rising consumer risks in white-labelling The European Banking Authority has warned that the growing use of white-labelling, where a financial institution provides services under the brand of a partner, poses consumer protection risks. KYC Global Technologies Limited
• [New] In late September, the Financial Services Information Sharing and Analysis Center said that crypto-procrastination is resulting in financial firms being unprepared for the future threats and data risks posed by quantum computers. Dark Reading
• [New] Ottawa started the process of delivering open banking, which will require banks to share financial data at a customer's request to power payments and services, fully seven years ago. The Logic
• [New] By vertical, banking, financial services, and insurance captured 29.1% of the MDR industry share in 2024; healthcare and life sciences are forecast to expand at a 24.1% CAGR to 2030. Mordor Intelligence
• [New] As 2025 unfolds, the financial services sector continues to evolve at an accelerated pace, driven by a blend of disruptive technologies and shifting customer expectations. nexgenbanking.com -
• [New] Financial services brands must keep experimenting - not by unleashing genAI unchecked but by integrating it within rule-based systems to manage risk and build trust, as the Dutch bank ABN AMRO does. Forrester
• [New] Gold prices could benefit from lower real yields and a weaker dollar, while U.S. equities might extend their rally, particularly in rate-sensitive sectors such as technology, real estate, and financial services. investing.com
• [New] Providers will be required to hold an Australian Financial Services Licence and comply with targeted obligations. JD Supra
• 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
• 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
• Embedded finance is at the vanguard of fintech innovation and will transform the future delivery of financial services. Abdul Latif Jameel
• 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
• Cryptocurrency firms will be exempt from rules that ensure financial services companies act with integrity and in the interest of consumers. Contentworks

Last updated: 10 November 2025