Silvergate to pay $63m in penalties to settle with US regulators
Silvergate announced it was winding down crypto-focused Silvergate Bank in March 2023.
Anti-Money Laundering/AML
US FDIC issues consent order to Thread Bank
The consent order, effective 21 May, mandates Thread Bank to enhance its oversight of its BaaS programme.
The rise of instant payments: protecting consumers from criminals in 10 seconds
How can financial institutions strike a balance between speed and safety with instant payments?
The day after the glitzy trade show is never a good day
If you want to participate in the future, you have to let go of the past.
New start-up Fideo Intelligence launches offering data-driven fraud-fighting solutions
The start-up operates under identity resolution SaaS platform FullContact.
ICYMI fintech funding round-up: Ramify, Hawk, Cadana, Prosper and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Regtech start-up Ondorse signs PayXpert, Assurdeal and Kota in UK and Ireland expansion push
Ondorse has also appointed OpenAI executive Olivier Godement to its board.
FINMA takes action against HSBC Private Bank Switzerland over “serious breach” in PEP due diligence
HSBC says it plans to appeal FINMA’s ruling.
Binance to pay $2.25m fine to India’s FIU over AML deficiencies
The exchange allegedly violated the country’s Prevention of Money Laundering Act (PMLA).
Encompass Corporation names Andrew Dunn as new VP of engineering
Dunn will guide the “strategic delivery” of Encompass’ CDI platform.
US Federal Reserve Board issues cease and desist order against Evolve Bank
The bank is alleged to have “engaged in unsafe and unsound banking practices”.
Merrick Bank partners Kompliant for digital merchant onboarding
The merchant acquirer is to utilise the vendor’s workflow automation tools.
First Abu Dhabi Bank appoints two banking veterans to leadership team
Simon Thorn and Neil Barrable join the group as chief compliance officer and chief credit officer.
Money20/20 Europe brings tokenisation, AI and digital transformation into focus
Day one’s proceedings took a specific focus on the topics of AI, tokenisation and digital modernisation journeys.
Dutch neobank Bunq enters partnerships with Mastercard and Nvidia
The bank is utilising Mastercard’s open banking platform and Nvidia’s accelerated computing and AI capabilities.
N26 fined €9.2m by BaFin over late submission of suspected money laundering reports in 2022
N26 says it has implemented “numerous measures to further improve reporting processes” since 2022.
Visa seeks to “revolutionise the card” with array of new product launches
New products include a Passkey service, Visa data tokens and the Visa Flexible Credential for payments.
French paytech Lemonway appoints new CTO and CFO
Céline Bayer and Nicolas Vigier have been named Lemonway’s new CFO and CTO respectively.
Bank of Ireland invests €34m in customer service enhancements
The funding brings the bank’s total commitment to customer service enhancements to nearly €150 million.
Former Thomson Reuters exec David Larson named Feedzai’s new CFO
Larson previously spent over eight years at Canadian multinational information corporation Thomson Reuters.
UK regtech ComplyAdvantage snaps up Golden to strengthen financial crime intelligence offering
The deal will also see VC firm Andreessen Horowitz become a shareholder in ComplyAdvantage.
Fund administrator Alter Domus taps Temenos for Multifonds platform
Temenos says its tech will enable the firm to manage “a significant increase in transaction volumes”.
UK’s FullCircl names Georgio Anastasi as new CFO
The CLI platform has gained a new CFO, COO, CRO and VP of product in two months.
Banking Technology Magazine April 2024 issue out now
Core story: GOLD GETTERS – The Olympics and fintech make the perfect team.
MAS unveils new Cosmic platform to help banks defend against terrorism financing and money laundering
Cosmic was co-developed by MAS and six banks – Citibank, DBS, HSBC, OCBC, UOB, and Standard Chartered.
Mutual Trust Bank in Bangladesh partners IDEX Biometrics for new payment card security feature
The bank has tapped its partner’s IDEX Pay solution to install fingerprint sensors into its physical card offering.
ICYMI fintech funding round-up: ZayZoon, Koin, FacePhi, Belong and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
UK regtech Encompass Corporation appoints Neil Acworth as new CISO
Acworth’s appointment follows Encompass’ recent acquisitions of CoorpID and Blacksmith KYC.
ICYMI fintech funding round-up: Marco, Zone, Copilot, Flowpay and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Payment security and fraud prevention take centre stage at this year’s Pay360 conference
Concepts concerning the safety and efficiency of payments proved central to the conference’s agenda.
Country Builders Bank in the Philippines selects Kiya.ai for banking tech upgrade
CBB hopes the partnership will help boost its operational efficiency and growth.
ICYMI fintech funding round-up: Tuum, DigiMaaya, Youverify, Trampay and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
JP Morgan leads €36m Series B raise for Dutch start-up Eye Security
The start-up now plans to expand across Europe with a focus on the EU’s incoming NIS2 directive.
Video: Intrepid Fox at FinovateEurope 2024 – When KYB meets GenAI
We sat down with Roman Zilber of Intrepid Fox to discuss the intersection between KYB and GenAI.
Cotribute tapped by Clearwater Credit Union to streamline digital account opening and loan origination processes
The partnership will see Clearwater leverage Cotribute’s consumer and business digital account opening modules.
Green Dot receives proposed consent order from US Federal Reserve
Green Dot says the consent order relates “principally to various aspects of compliance risk management”.
Lithuania’s Šiaulių Bankas taps Temenos for core banking upgrade
Šiaulių Bankas aims to leverage Temenos’ tech to double its number of clients to one million by 2029.
UK regtech Napier AI secures £45m funding from Crestline Investors
Napier AI claims that since 2021, its top-line revenue has grown at more than 30% year on year.
Germany’s BaFin warns Deutsche Bank of potential fines if it doesn’t improve money laundering controls
BaFin has extended its monitoring of Deutsche Bank until 30 October 2024.
Blockchain intelligence start-up Crystal hires Navin Gupta as new CEO
Gupta succeeds Marina Khaustova in the role, who will now shift to the position of COO.
