Latest news with #FinancialConductAuthority
Yahoo
19 hours ago
- Business
- Yahoo
PS21/3: Are UK firms really ready?
The Financial Conduct Authority's (FCA) operational resilience rules were introduced three years ago with a clear message: financial firms must be able to withstand disruptions and keep essential services running no matter what happens. On paper, the industry has had plenty of time to prepare. In reality, some firms are still racing against the clock, realising too late that compliance is about more than just paperwork. With only days left, the question remains: who's truly ready, and who's cutting it fine? Operational resilience isn't a new concept, but it has taken on greater urgency in recent years. From cyberattacks and IT failures to third-party outages, financial institutions face increasing risks that can bring services to a halt. Customers expect 24/7 access to their money; businesses need smooth payment flows; and regulators are watching closely. PS21/3 was introduced to make sure firms aren't just reacting to disruptions, they're prepared in advance. Yet, as the deadline looms, gaps in resilience planning are becoming more apparent. Some firms have treated compliance as a tick-box exercise, failing to integrate resilience into their broader strategy. Others have struggled with the sheer complexity of mapping critical business services and setting realistic impact tolerances. The FCA has been clear: firms need to justify their decisions with evidence, not assumptions. Simply hoping a competitor can pick up the slack during a disruption isn't enough. Every firm must know exactly how long it can sustain an outage before harm is caused and prove that they can recover within that timeframe. One of the biggest challenges for firms has been managing third-party dependencies. Today's financial ecosystem is deeply interconnected, with banks, payment providers and fintech firms all relying on external vendors for core services. What happens when those vendors fail? The CrowdStrike outage in 2024 was a stark reminder of how dependent financial firms are on third-party providers. Some businesses had contingency plans in place; others found themselves blindsided, unable to function until their suppliers restored service. The FCA has made it clear that firms cannot outsource responsibility for resilience. Even if a third party is delivering a key service, the regulated firm is still accountable for ensuring its stability. For payment providers and e-commerce businesses, this challenge is even greater. Many operate across multiple jurisdictions, juggling various payment rails, processors and alternative payment methods. Ensuring that these providers meet resilience standards and can keep transactions flowing even in times of disruption, is essential. Beyond financial institutions themselves, merchants also have a stake in operational resilience. If a payment provider or acquiring bank fails to meet FCA standards, businesses relying on them could face service outages, lost revenue and customer frustration. Merchants must be proactive in selecting financial partners that take resilience seriously. This means working with payment providers that have robust contingency plans, failover mechanisms and diverse payment routing capabilities. A provider with a single point of failure is a business risk; one that many merchants cannot afford to take. As resilience becomes a key factor in financial partnerships, businesses need to demand transparency from their providers. How do they handle service disruptions? How quickly can they switch to backup systems? What safeguards are in place to keep payments running? These are the questions that should be asked before an outage occurs, not after. With the deadline fast approaching, firms that are still scrambling must prioritise key actions in the coming days. While long-term resilience requires a continuous effort, there are still urgent steps that can be taken to ensure compliance by 31 March: Verify that all important business services have been identified, and impact tolerances are clear. Every service should have a defined maximum tolerable outage time, backed by data. Run final scenario tests. Stress-testing resilience plans under 'severe but plausible' conditions can expose vulnerabilities that need last-minute fixes. Strengthen third-party oversight. Ensure that suppliers have their own resilience frameworks in place, and that they align with FCA expectations. Review and update recovery strategies. Response teams should know exactly what to do when disruptions occur, minimising downtime and customer impact. For firms that planned ahead, this period is about fine-tuning and reinforcing resilience strategies. For those that delayed preparations, it's a race to prove that they can meet regulatory standards, before the FCA starts asking tough questions. While 31 March marks the official compliance deadline, operational resilience isn't a one-time task, it's an ongoing expectation. The FCA has made it clear that financial firms must continue refining their resilience strategies, conducting regular reviews, and adapting to new risks. Beyond regulatory pressure, firms that invest in resilience stand to gain a competitive advantage. Customers trust institutions that can deliver seamless services, even during crises. Payment providers that can guarantee uptime will attract more business. Merchants will prioritise financial partners that won't leave them stranded when disruptions strike. Those who see resilience as more than just a compliance burden, but rather as a core pillar of their operations, will be the ones that emerge stronger in the long run. For financial services, resilience isn't just about surviving disruptions, it's about thriving despite them. Azimkhon Askarov is Co-CEO & Partner at "PS21/3: Are UK firms really ready?" was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Business Upturn
a day ago
- Business
- Business Upturn
ZA Miner Launches Zero-Cost Cloud Mining Platform With Daily Crypto Rewards and Referral Bonuses
London, UK, June 19, 2025 (GLOBE NEWSWIRE) — Mine popular coins effortlessly with no hardware, no upfront cost, and earn daily rewards, referrals, and more. London, UK – June 19, 2025 — ZA Miner, a new cloud mining service regulated by the UK's Financial Conduct Authority, has officially launched its global platform, making crypto mining more accessible than ever. With a zero-cost entry model, instant daily payouts, and a sustainable infrastructure, ZA Miner opens the door to passive income for users around the world—no hardware, no technical setup, and no hidden fees. Advertisement New users are welcomed with a $100 starter mining contract completely free of charge, allowing them to begin mining Bitcoin, Dogecoin, or Litecoin from day one. The platform's intuitive design and automated systems make it ideal for both beginners and crypto veterans looking to diversify their earning streams. 'We built ZA Miner to remove the traditional barriers of crypto mining,' said a spokesperson for ZA Miner. 'There's no expensive equipment to buy, no maintenance, and no energy costs. Our users can sign up, activate a contract, and begin earning daily rewards automatically.' Key Features and Benefits: $100 Free Mining Contract for All New Users Anyone who registers receives a complimentary mining plan, allowing them to earn rewards without an initial investment. Anyone who registers receives a complimentary mining plan, allowing them to earn rewards without an initial investment. Daily Passive Earnings Users earn automatically, with daily payouts deposited directly to their wallet—no need for manual claims. Users earn automatically, with daily payouts deposited directly to their wallet—no need for manual claims. Green Energy Infrastructure ZA Miner operates mining facilities in Iceland and Kazakhstan, powered by 100% renewable energy. ZA Miner operates mining facilities in Iceland and Kazakhstan, powered by 100% renewable energy. Global Reach and User-Friendly Experience Available in over 100 countries and designed for all levels of crypto users, from beginners to experienced miners. Affiliate Program and Community Growth ZA Miner also launched a referral program, allowing users to earn commission from friends they invite. The program offers a percentage of the referred user's mining activity as a bonus, turning word-of-mouth into a valuable income stream. Recent community events, such as cashback offers and top-up bonuses, have seen significant participation, further driving user growth. Rapid User Adoption and Timely Launch The platform has already seen a strong uptake in registrations since its soft launch earlier this quarter. With rising cryptocurrency interest and increasing mining difficulty, ZA Miner enters the market at an ideal time, offering users a simple and low-risk alternative to traditional mining setups. 'We're seeing more people who want to participate in crypto without the complexity or high costs. ZA Miner is built for them,' the spokesperson added. How It Works Register a free account in minutes Activate the $100 free starter contract Begin earning daily rewards in BTC, DOGE, or LTC Track earnings through the dashboard or mobile app Invite friends to earn more through referrals Users can also upgrade to larger mining contracts with higher returns at any time, choosing from a range of flexible plans. About ZA Miner ZA Miner is a UK-based cloud mining provider offering simple, secure, and sustainable crypto mining solutions for individuals worldwide. With a focus on accessibility, clean energy, and automated passive income, ZA Miner aims to democratize mining and empower users to earn from the blockchain economy, without technical barriers or hidden costs. Don't miss your chance to earn sustainable crypto income effortlessly — sign up with ZA Miner today and join the future of cloud mining! ( ) Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Associated Press
a day ago
- Business
- Associated Press
ZA Miner Launches Zero-Cost Cloud Mining Platform With Daily Crypto Rewards and Referral Bonuses
London, UK, June 19, 2025 (GLOBE NEWSWIRE) -- Mine popular coins effortlessly with no hardware, no upfront cost, and earn daily rewards, referrals, and more. London, UK – June 19, 2025 — ZA Miner, a new cloud mining service regulated by the UK's Financial Conduct Authority, has officially launched its global platform, making crypto mining more accessible than ever. With a zero-cost entry model, instant daily payouts, and a sustainable infrastructure, ZA Miner opens the door to passive income for users around the world—no hardware, no technical setup, and no hidden fees. New users are welcomed with a $100 starter mining contract completely free of charge, allowing them to begin mining Bitcoin, Dogecoin, or Litecoin from day one. The platform's intuitive design and automated systems make it ideal for both beginners and crypto veterans looking to diversify their earning streams. 'We built ZA Miner to remove the traditional barriers of crypto mining,' said a spokesperson for ZA Miner. 'There's no expensive equipment to buy, no maintenance, and no energy costs. Our users can sign up, activate a contract, and begin earning daily rewards automatically.' Key Features and Benefits: Affiliate Program and Community Growth ZA Miner also launched a referral program, allowing users to earn commission from friends they invite. The program offers a percentage of the referred user's mining activity as a bonus, turning word-of-mouth into a valuable income stream. Recent community events, such as cashback offers and top-up bonuses, have seen significant participation, further driving user growth. Rapid User Adoption and Timely Launch The platform has already seen a strong uptake in registrations since its soft launch earlier this quarter. With rising cryptocurrency interest and increasing mining difficulty, ZA Miner enters the market at an ideal time, offering users a simple and low-risk alternative to traditional mining setups. 'We're seeing more people who want to participate in crypto without the complexity or high costs. ZA Miner is built for them,' the spokesperson added. How It Works Users can also upgrade to larger mining contracts with higher returns at any time, choosing from a range of flexible plans. About ZA Miner ZA Miner is a UK-based cloud mining provider offering simple, secure, and sustainable crypto mining solutions for individuals worldwide. With a focus on accessibility, clean energy, and automated passive income, ZA Miner aims to democratize mining and empower users to earn from the blockchain economy, without technical barriers or hidden costs. Don't miss your chance to earn sustainable crypto income effortlessly — sign up with ZA Miner today and join the future of cloud mining! ( ) Disclaimer: Name: ZA miner Email: [email protected]
Scottish Sun
3 days ago
- Automotive
- Scottish Sun
Little-known car insurance could save you £5,000 if your car is written off in accident – everything you need to know
Various factors have driven up the cash value of these insurance claims ALL COVERED Little-known car insurance could save you £5,000 if your car is written off in accident – everything you need to know Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A HIDDEN car insurance trick could save you £5,000 if your vehicle is written off. Motorists claiming on this insurance stand to gain big - as average payouts have tripled in the past four years. Sign up for Scottish Sun newsletter Sign up 2 GAP insurance payouts have nearly tripled in four years Credit: Alamy The average payout for Guaranteed Asset Protection - or GAP insurance - has soared from around £1,600 in 2021 to nearly £5,000 this year. This little-known insurance hack is rarely used - with a Financial Conduct Authority probe revealing that the average driver with GAP insurance makes a claim just once every 300 years. This product is mainly used to cover a potential shortfall between a car's value and the amount owed on finance if the vehicle is written off or stolen. Drivers who need to make a claim are likely to receive larger payouts, as those who've financed their cars currently face several financial risks. GAP insurance is used not only by those with financed cars but also by owners who bought cars outright—they can claim if the insurer's payout is less than what they paid for the car. Several factors have contributed to the soaring cash value of GAP claims. These include the fast depreciation of certain vehicles - especially EVs - and a rise in insurance write-offs caused by soaring repair costs and parts shortages. Rising motor thefts, targeting models like Range Rovers, have also driven up the cash value of GAP claims. Experts say GAP insurance has shifted from a 'nice-to-have' policy to a 'vital financial safeguard' for today's car buyers. The increase in the value of payouts "underscores the growing financial risk faced by car owners" in 2025, according to MotorEasy, a leading car ownership platform. Ford is forced to immediately shut down factories and halt car production as CEO admits 'day to day' struggle for brand However, this type of insurance has been controversial in the past, as it's often sold by dealers alongside cars - sometimes with limited explanation or inflated prices. It's usually cheaper to buy GAP insurance through brokers. The increase in the value of payouts "underscores the growing financial risk faced by car owners" in 2025, according to MotorEasy, the leading car ownership platform. MotorEasy says the rise in average claim amounts is linked to the lasting effects of Covid-19. However, since so few motorists were using GAP policies, the Financial Conduct Authority launched an investigation in 2023 over concerns about their value. This led to many policies being withdrawn, with about 80 percent of products pulled from the market. Experts now advise car buyers to compare policies carefully and consider brokers rather than accepting dealer offers. Meanwhile, insurance experts have shared eight tips to help drivers slash the cost of covering their cars. Tom Banks, a coverage expert for told SunMotors that one effective way is to choose a higher excess. This means you agree to pay more out of pocket if you make a claim, which lowers the amount the insurer has to cover. Tom explained: "You want to make sure that you will be able to afford to pay it should you need to make a claim. "But it's worth bearing in mind that choosing a higher voluntary excess will usually bring your car insurance premium down." What is car insurance? Consumer reporter Sam Walker talks you through what car insurance is and what it covers you for... Car insurance pays out if your vehicle is stolen, damaged, catches on fire or is involved in an accident. As a minimum, it protects you against any damage you case to other road users, the public or their property - these are called third parties. You only need to claim on your car insurance when an accident is your fault. If another motorist is to blame, their insurance should pay out instead. Car insurance, unlike home insurance, is a legal requirement and if you don't have it you can be fined up to £1,000. You can also have your vehicle seized and destroyed. However, you don't need to insure your car if it is classed as "off-road", or holds a statutory off road notification (SORN). The vehicle has to be kept on private land and not a public highway though.
The Sun
3 days ago
- Automotive
- The Sun
Little-known car insurance could save you £5,000 if your car is written off in accident – everything you need to know
A HIDDEN car insurance trick could save you £5,000 if your vehicle is written off. Motorists claiming on this insurance stand to gain big - as average payouts have tripled in the past four years. 2 The average payout for Guaranteed Asset Protection - or GAP insurance - has soared from around £1,600 in 2021 to nearly £5,000 this year. This little-known insurance hack is rarely used - with a Financial Conduct Authority probe revealing that the average driver with GAP insurance makes a claim just once every 300 years. This product is mainly used to cover a potential shortfall between a car's value and the amount owed on finance if the vehicle is written off or stolen. Drivers who need to make a claim are likely to receive larger payouts, as those who've financed their cars currently face several financial risks. GAP insurance is used not only by those with financed cars but also by owners who bought cars outright—they can claim if the insurer's payout is less than what they paid for the car. Several factors have contributed to the soaring cash value of GAP claims. These include the fast depreciation of certain vehicles - especially EVs - and a rise in insurance write-offs caused by soaring repair costs and parts shortages. Rising motor thefts, targeting models like Range Rovers, have also driven up the cash value of GAP claims. Experts say GAP insurance has shifted from a 'nice-to-have' policy to a 'vital financial safeguard' for today's car buyers. The increase in the value of payouts "underscores the growing financial risk faced by car owners" in 2025, according to MotorEasy, a leading car ownership platform. Ford is forced to immediately shut down factories and halt car production as CEO admits 'day to day' struggle for brand However, this type of insurance has been controversial in the past, as it's often sold by dealers alongside cars - sometimes with limited explanation or inflated prices. It's usually cheaper to buy GAP insurance through brokers. The increase in the value of payouts "underscores the growing financial risk faced by car owners" in 2025, according to MotorEasy, the leading car ownership platform. MotorEasy says the rise in average claim amounts is linked to the lasting effects of Covid-19. However, since so few motorists were using GAP policies, the Financial Conduct Authority launched an investigation in 2023 over concerns about their value. This led to many policies being withdrawn, with about 80 percent of products pulled from the market. Experts now advise car buyers to compare policies carefully and consider brokers rather than accepting dealer offers. Meanwhile, insurance experts have shared eight tips to help drivers slash the cost of covering their cars. Tom Banks, a coverage expert for told SunMotors that one effective way is to choose a higher excess. This means you agree to pay more out of pocket if you make a claim, which lowers the amount the insurer has to cover. Tom explained: "You want to make sure that you will be able to afford to pay it should you need to make a claim. "But it's worth bearing in mind that choosing a higher voluntary excess will usually bring your car insurance premium down." What is car insurance? Consumer reporter Sam Walker talks you through what car insurance is and what it covers you for... Car insurance pays out if your vehicle is stolen, damaged, catches on fire or is involved in an accident. As a minimum, it protects you against any damage you case to other road users, the public or their property - these are called third parties. You only need to claim on your car insurance when an accident is your fault. If another motorist is to blame, their insurance should pay out instead. Car insurance, unlike home insurance, is a legal requirement and if you don't have it you can be fined up to £1,000. You can also have your vehicle seized and destroyed. However, you don't need to insure your car if it is classed as "off-road", or holds a statutory off road notification (SORN). The vehicle has to be kept on private land and not a public highway though. 2
