Comerica Bank & Trust reaches formal agreement with US OCC over enforcement action
The OCC has ordered the bank to create a compliance committee as part of the action.
The OCC has ordered the bank to create a compliance committee as part of the action.
The new bank says it plans to start lending “later this year”.
N26 says it has implemented “numerous measures to further improve reporting processes” since 2022.
Finastra says the move will enable LGT to meet the EU instant payments regulatory timeline.
Our pick of the top fintech news stories this week includes JP Morgan Chase, Citi, BBVA, OpenAI and more.
BNPL firms will now be required to investigate disputes, refund returned products and provide billing statements.
The total penalty consists of a £33,880,000 fine from the PRA and a £27,766,200 fine from the FCA.
The regulator says it is suing the firm for “deceiving borrowers and illegally extracting fees”.
The Singapore-based start-up plans to utilise AI to further develop its product offerings.
The tool aims to help small businesses comply with the UK’s upcoming Making Tax Digital initiative.
Through this acquisition, Cube aims to “set a new bar for the industry in regulatory automation”.
The round represents Data Zoo’s first ever outside investment.
Chime is to also pay “at least $1.3 million in redress to harmed consumers”.
SoFi Money – the unit targeted by fraudsters – was ultimately closed by the fintech in June 2022.
The regtech platform helps institutions manage, structure, and source compliance and regulatory change.
The bank was previously hit with a $348 million fine from the OCC and FRB in March.
Larson previously spent over eight years at Canadian multinational information corporation Thomson Reuters.
Nominations for the Banking Tech Awards 2024 are now officially open to companies worldwide!
Boyle has previously held leadership roles at Mambu, IBM, Barclays, and Lloyds Banking Group.
LSEG is to continue using the solution as a client of Delta Capita.
Hufnagl boasts over 20 years of cloud architecture, business strategy and engineering experience.
There’s a genuine bottom-line benefit to be realised through effective risk orchestration of your compliance processes.
Barnard is to take “ultimate responsibility” for the UK regtech’s global finance and business operations.
The deal will also see VC firm Andreessen Horowitz become a shareholder in ComplyAdvantage.
Crucial insights for fintechs seeking risk orchestration platform vendors to streamline their customer lifecycle and regulatory screening.
Temenos says its tech will enable the firm to manage “a significant increase in transaction volumes”.
The San Francisco-based bank will utilise the fintech’s TradeSun Intelligence V4 solution.
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FloQast claims its flagship offering, the Accounting Operations platform, serves over 2,600 accounting teams worldwide.
The licencing follows the paytech’s $6.3 billion acquisition by Advent International.
The acquisition is expected to close by the third quarter of 2024.
TerraPay says it will leverage the licence to “strengthen existing and new partnerships” in the APAC region.
Core story: GOLD GETTERS – The Olympics and fintech make the perfect team.
Cosmic was co-developed by MAS and six banks – Citibank, DBS, HSBC, OCBC, UOB, and Standard Chartered.
The new CEO has been tasked with leading the start-up’s “next phase of growth and innovation”.
The new cash injection adds to the $20 million Constantinople previously raised via its May 2022 seed round.
A handy round-up of the recent funding endeavours of fintech companies across the globe.
The acquisition will boost the growth of Abrigo’s existing suite of technical accounting solutions.
Acworth’s appointment follows Encompass’ recent acquisitions of CoorpID and Blacksmith KYC.
Danske Bank will migrate selected legacy applications, data, and infrastructure to the AWS cloud.