Why apps ask for your passport, why some transfers get held, and how regulators keep up with new technology, explained without jargon.
This channel explains the rules that shape every financial app: identity checks (KYC), anti-money laundering, sanctions screening, the EU's DORA resilience law, regulatory sandboxes, and the regtech software firms use to comply.
Signing up for a neobank or payment app starts with a passport photo and a selfie. What that step checks, why a new account can start with limits, and why the app may ask again later.
Money laundering turns criminal cash into money that looks clean. Anti-money laundering (AML) rules make banks and payment firms the lookouts. Here is how the system fits together.
Banks and fintechs face thousands of rules and millions of transactions. Regtech is the software that helps them check, monitor and report, and suptech is the regulators' version.
Banks, insurers and payment firms now run on software and cloud services. DORA is the EU law that makes them prove they can keep running when that technology fails or is attacked.
Regulators invented the 'sandbox' so new financial ideas can be tried on a small scale, with safeguards, before they reach everyone. Here is what that really involves.
Every time you open an account or send money abroad, a computer quietly compares names with government sanctions lists. Here is what it is looking for and what happens when it finds something.
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