Video: Taktikal at FinovateEurope 2024 – Onboarding amid ever-changing compliance requirements
We sat down with Tinna Hallbergsdóttir of Taktikal to discuss the firm’s innovative approach to onboarding.
Compliance
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.
Banking Technology Magazine March 2024 issue out now
Cover story: CREATIVE THINKING – How a borefest could lead to the best ideas.
ICYMI fintech funding round-up: Embat, Slice, NayaOne, MoneyHash and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
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”.
FinovateEurope 2024: Tech demos, AI and tokenisation dominate day one
Industry innovators and thought leaders gathered in London on Tuesday for the opening day of FinovateEurope.
Abu Dhabi Islamic Bank digitises cross-border services with ProgressSoft
The UAE-based bank has integrated the vendor’s PS-PayHub platform.
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.
Ozone API appoints former Virgin Money CEO Dame Jayne-Anne Gadhia as new board chair
Gadhia was CEO of Virgin Money from 2007 to 2018, where she led the acquisition of Northern Rock.
FHLBank of Pittsburgh selects SimCorp Dimension for investment management
The bank has signed an eight-year agreement with the vendor for SimCorp Dimension.
Temenos says it “fundamentally refutes” Hindenburg allegations, plans independent review of claims
The Swiss vendor was hit with a string of allegations in a Hindenburg Research report last week.
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.
Mexican neobank Hey Banco’s split from Banregio due for 2025
The move, announced in 2020, was expedited by Hey Banco’s banking licence authorisation last July.
Luzerner Kantonalbank selects Finmechanics tech for markets business overhaul
The Swiss bank is to replace its legacy system for position and risk management with FM Converge.
How the EU AI Act could transform financial services
Regulators are attempting to deliver first-of-its-kind regulation to bring AI into a more desirable scope.
FinTech Futures: Top five news stories of the week – 16 February 2024
Our pick of the top fintech news stories this week includes Monese, Virgin Money, Bank of America and more.
Digital business bank Grasshopper partners Greenlite for AI-powered due diligence tech
Greenlite’s tech will enable the bank to streamline manual data aggregation and client risk assessments.
Bank of America customers impacted by data breach through Infosys McCamish Systems hack
It’s thought that 57,028 of Bank of America’s customers have been impacted.
Successful AI driven marketing strategies are inextricably linked to high quality data and efficient delivery thereof
Is your data strategy up to the challenge? Learn how artificial intelligence can help you reinvent marketing ops.
TransferGo hires former Western Union compliance head Simon McFeely as chief compliance officer
The UK-based fintech says the hire marks its latest effort to “spearhead rapid global expansion”.
Fat Zebra bolsters CDR capabilties with acquisition of Aussie open data platform Adatree
The deal joins Fat Zebra’s payments platform with Adatree’s CDR-compliant open data capabilities.
Revolut’s head of financial crime and fraud Aaron Elliott-Gross leaves to join Wise as product compliance lead
Elliott-Gross has been appointed as Wise’s global director of product compliance this month.
RBC’s US subsidiary City National Bank hit with $65m fine from OCC
The OCC says the fine relates to “systemic deficiencies” in the bank’s risk management and internal controls.
Vast Bank exits cryptocurrency market, closes crypto banking mobile app
The bank disabled and removed the Vast Crypto Mobile Banking app from app stores on 31 January.
India’s RBI orders Paytm Payments Bank to halt banking services by end of February
The RBI attributes its order to “persistent non-compliances and continued material supervisory concerns in the bank”.
Emirates NBD partners Silent Eight to bolster compliance operations
The banking group says the partnership will enhance its compliance efficiency.
Banking Technology Magazine February 2024 issue out now
Cover story: PLANT LIFE – Talking flora and quantum computing.
FinTech Futures: Top five news stories of the week – 2 February 2024
Our pick of the top fintech news stories this week includes Lloyds, HSBC, PayPal, Santander and more.
UK’s PRA fines HSBC £57m for “historic depositor protection failings”
The PRA says the fine is the second-largest issued by the regulator to date.
CFPB proposes new laws to stamp out NSF fees for transactions declined in real time
NSF fees on debit card and ATM transactions will be “unlawful” under the proposed rule.
The Philippines’ UnionBank taps Informatica for MDM solution
Informatica says the solution provides an “enterprise-wide, 360-degree view of customers”.
EBA addresses ESG and climate change risks with new proposed guidelines
The EBA says it is accepting comments on the proposals via its consultation website until 18 April 2024.
Finnish fintech Aibidia names Matthias Grabellus as new chief product officer
Aibidia says Grabellus will be tasked with globalising its product suite for cross-border business management.
Business spend management platform Payhawk lands UK EMI licence
The fintech unicorn previously gained an EMI licence from the central bank of Lithuania in July.
Encompass Corporation snaps up CoorpID and Blacksmith KYC from ING
Encompass is to acquire 100% of both ING companies for an undisclosed sum.
Effective risk management can boost supplier relationships and uncover new providers
Learn how KY3P from S&P Global Market Intelligence can help manage supplier risk and identify new sources of supply.
US neobank Chime appoints Shara Chang as chief compliance officer
Chang brings 15 years of financial services, fintech and consumer protection experience to her new role.
DfT director Dan Moore joins PSR as head of strategy and intelligence
Moore forms the third addition to the PSR’s executive team this year.
Ncontracts snaps up Quantivate for an undisclosed sum
Ncontracts hopes to strengthen its position in the US market and expand its offerings.
