Stenn Assets UK Limited and Stenn International Limited enter administration
The two units of Stenn Technologies entered administration on 4 December.
Anti-Money Laundering/AML
Swedish regulator issues Klarna with administrative fine of around $46m
Sweden’s Financial Supervisory Authority says the fine is for “violating the anti-money laundering regulations”.
LexisNexis to acquire deepfake detector IDVerse for undisclosed sum
The transaction is set to close in early 2025, with IDVerse joining LexisNexis Risk Solutions Business Services.
Reserve Bank of India pilots new MuleHunter.AI solution to help identify mule accounts
MuleHunter.AI has been developed in-house by the Reserve Bank Innovation Hub (RBIH).
November 2024: Top five AI stories of the month
FinTech Futures takes a look back at five of the top AI stories from November.
Sweden’s TF Bank selects Nice Actimize for AML SaaS solutions
TF Bank has tapped Nice Actimize for its cloud-based SaaS AML Essentials offering.
BioCatch pilots fraud intelligence network with cohort of Aussie banks
Participating banks include NAB, ANZ, CBA, Suncorp Bank and Westpac.
Bank of Valletta taps Profile Software for investment management solution
Malta’s largest and oldest fiancial institution will deploy Profile Software’s Axia Suite.
LSEG taps IDVerse for AI-powered ID verification solutions
LSEG will deploy IDVerse’s Zero Bias AI offering alongside its Deepfake Defender AI solution.
Banking Technology Magazine November 2024 issue out now
Cover story: GOING GREEN – Why sustainable finance is vital.
Ripjar names industry veteran Tom Obermaier as new CEO
Alongside its leadership change, Ripjar has also bagged a majority growth investment from Long Ridge Equity Partners.
FinTech Futures: Top five news stories of the week – 1 November 2024
Our pick of the top fintech news stories this week includes nCino, Citi, Moniepoint and more.
October 2024: Top five AI stories of the month
FinTech Futures takes a look back at five of the top AI stories from October.
ICYMI fintech funding round-up: Authologic, Klasha, CardFlight, and Salt
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Socure inks $136m deal to acquire AI-powered risk decisioning platform Effectiv
The deal is expected to close next month, with the entire Effectiv team set to join Socure.
Sibos 2024: The convergence of TradFi and DeFi with Chainlink – video interview
Sergey Nazarov details the latest tools and strategies for integrating blockchain technology with TradFi systems.
OCC announces enforcement actions against four US banks
The OCC has released its latest list of enforcement actions taken against US banks in recent weeks.
FinTech Futures: Top five news stories of the week – 18 October 2024
Our pick of the top fintech news stories this week includes TD Bank, Barclays, Klarna and more.
TD Bank hit with $3bn in fines over AML failures
The $3.09 billion in total fines includes a record $1.8 billion penalty from the US Justice Department.
ICYMI fintech funding round-up: Plumery, Concreit, Connected Data, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five news stories of the week – 4 October 2024
Our pick of the top fintech news stories this week includes Starling Bank, Fiserv, HSBC, Monese and more.
FCA fines Starling Bank £29m for sanctions screening failures
Starling was found to have opened over 54,000 accounts for high-risk customers.
Visa to buy AI-powered fraud detection firm Featurespace
Visa says it expects to close the transaction in FY 2025.
ICYMI fintech funding round-up: Loop, Primary, Sitewire, Savr and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
US regulator OCC orders Wells Fargo to shore up AML and risk management procedures
The OCC has barred Wells Fargo from expanding into medium-to-high risk products and geographies without prior approval.
Visa reportedly in negotiations to acquire Featurespace in potential £700m deal
Featurespace provides financial crime prevention solutions for AML and fraud detection.
Pennsylvania’s Customers Bancorp hit with enforcement action by US Federal Reserve
The enforcement action follows a recent inspection and does not include a fine.
White paper: Beyond the basics – exploring trends shaping AML compliance in 2024
What controls UK businesses should put in place to effectively prevent money laundering and other financial crime.
ICYMI fintech funding round-up: Rillet, Aveni, Mamo, Payflow, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Texas-based TransPecos Banks selects Oscilar’s risk management tech for BaaS compliance
Oscilar has been tapped by the bank for its AI-driven AML Risk Platform solution.
Caribbean-based Proven Bank taps Ireland’s Fenergo for transaction monitoring solution
Fenergo says its solution is designed to reduce false positives and automate manual AML processes.
Qonto receives order from Banca d’Italia to improve AML measures in its Italian subsidiary
The firm says the order includes a temporary ban on onboarding new customers in Italy.
Israel’s ThetaRay snaps up Screena to enhance financial crime detection
Screena’s solution enhances customer onboarding by verifying entities against various sanctioned party lists.
Video: Keyless co-founder Fabian Eberle discusses privacy-preserving biometrics
Keyless’ Fabian Eberle speaks with FinTech Futures about the growing adoption of privacy-preserving biometrics.
Westpac joins forces with Optus to launch new in-app SafeCall feature
Westpac says the new feature will be rolled out to customers in the coming months.
Stripe buys US paytech start-up Lemon Squeezy
Lemon Squeezy has been processing payments on Stripe since its launch in 2021.
US Federal Reserve fines digital bank Green Dot $44 million over “unfair and deceptive practices”
Green Dot has been anticipating the arrival of the consent order since February.
Daiwa Capital Markets Europe selects Delta Capita for CLM solution
Delta Capita previously purchased LSEG’s CLM compliance solution, Client On-Boarding, in April.
NatWest enables bank-verified digital identities for Nordic structured finance business in partnership with OneID
NatWest will apply OneID’s bank-verified digital identity solution to its structured finance business in the Nordics.
How DORA is fortifying Europe’s financial future with a new take on operational resilience
With the DORA deadline fast approaching, FinTech Futures examines its expected impact on financial services.
