Flutterwave makes several new exec appointments focusing on risk, compliance and partnerships
The company has appointed Amaresh Mohan, Amanda Ortega and Stephen Cheng to executive roles.
Compliance
Europe fintech funding round-up: Aria, AbbeyCross, Salv and more
A handy round-up of the recent funding endeavours of fintech companies across Europe.
E-invoicing in Europe 2024: a country by country policy overview
Delving into the mandates, legal changes and harmonisation efforts in B2B and B2G e-invoicing in Europe.
Goldman Sachs reportedly names Paul Camp as new head of transaction banking
Camp previously served as head of global treasury management at Wells Fargo.
Banking Technology Magazine Dec 2023 / Jan 2024 issue out now
Cover story: THE BEST OF BANKING TECH – Winners and pictures from an amazing night.
Reserve Bank of India outlines plans for new fintech repository and cloud facility for FS firms
The new measures also address “moral hazard issues” in lending and boost certain transaction limits.
US OCC highlights key risks to federal banking system in latest report
The report also covers the current market, credit and compliance risks being faced by FIs.
VersiFi hires two senior execs from Hazeltree to boost tech and infrastructure development
Sol Zlotchenko and Daniel Zayfman join VersiFi as CPTO and CISO, respectively.
UK regulators issue joint proposals to tackle risk of financial instability posed by CTP dependency
The regulators are accepting feedback and expect to publish final requirements by H2 2024.
FinTech Futures: Top five stories of the week – 8 December 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Canadian regulator fines RBC $5.5m for “administrative violations” of its AML rules
FINTRAC says it uncovered three administrative violations by RBC during an examination last year.
French business banking firm Qonto taps Fourthline for onboarding tech
Fourthline’s tech will help the firm authenticate identity documents, electronic signatures and biometric data.
Italian competition authority interrupts migration of 2.4m Intesa Sanpaolo accounts to Isybank
The watchdog says more than 5,000 of Intesa Sanpaolo’s own customers sought its intervention.
How Europe’s PSPs are bracing for SEPA instant payments
The European Parliament approved final implementation deadlines for SEPA instant payments on 7 November.
Australian banks join forces to protect customers from scammers with new Scam-Safe Accord
The industry will also make an AUD 100 million investment towards a new confirmation of payee solution.
French paytech Worldline lands Payment Institution licence from UK’s FCA
Worldline had previously been operating under the FCA’s Temporary Permission Regime, which will end on 30 December.
Contis hit with €840,000 fine by Bank of Lithuania
The fine relates to alleged AML failings over a period between 2021 and 2022.
FinTech Futures: Top five stories of the week – 24 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Binance CEO exits after pleading guilty to money laundering charges
Binance has agreed to pay $4.3bn in “one of the largest corporate penalties in US history”.
Sweden’s SEB selects Blacksmith KYC to automate corporate client data collection
Blacksmith claims to have specifically tailored the platform for SEB following a year-long pilot project.
Blue Ridge Bank set to trim BaaS fintech partnerships down to a “limited number”
The bank was flagged by the OCC last year for “unsafe or unsound” practices concerning its BaaS business.
FinTech Futures: Top five stories of the week – 17 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FCA places embattled Metro Bank on financial crime watchlist as rescue deal continues
Its position on the watchlist was revealed last week via the release of a 217-page dossier outlining a rescue deal for the bank.
Report: State of verification and monitoring in the crypto industry
Data-driven study into verification practices among crypto businesses: checks, budgets, pass rates.
SC Ventures and SBI Holdings to jointly launch digital asset investment firm in UAE
The joint venture will initially receive a $100 million capitalisation from both companies.
Block’s Cash App withdraws bid for Irish virtual asset licence
Cash App had been pursuing a VASP licence in the country since 2021.
European regulators agree on new rules for SEPA instant payments
The rules state that instant transfers must not cost more than standard services.
CFPB targets US fintech firms with proposals for increased regulatory scope
The proposals will target 17 companies who control 88% of the market share.
N26 to cease operations in Brazil within the next two months
The challenger bank wants to focus its efforts on its “core markets”, namely Germany, France, Spain and Italy.
Regtech Qomply hires former FCA regulator as director of transaction reporting
The company describes Sophia Fulugunya as “a front-line expert in transaction reporting”.
FinTech Futures: Top five stories of the week – 3 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
UK Finance calls on government to form new quantum computing taskforce
The taskforce would seek to explore the “multibillion-pound opportunities” of a quantum-enabled economy.
HM Treasury sets out phased regulatory approach for stablecoins
Legislation covering “activities relating to fiat-backed stablecoins” will arrive early next year.
The US Federal Reserve proposes new single cap on interchange fees
Reserve board member and governor Michelle Bowman has opposed the revised cap.
JP Morgan Payments taps Trulioo for personal and business ID verification
JP Morgan Payments will leverage Trulioo’s person match and identity document verification services.
MAS orders DBS Bank and Citibank to investigate banking services disruption
The banks were unable to recover their systems within the allotted time following a service outage in Singapore.
NET Credit Union selects Bankjoy for digital onboarding solution
Bankjoy says its solution enables new customers to open an account in just 90 seconds.
Al Rayan Bank goes live with Confirmation of Payee solution from obconnect
The PRA directed the bank last year to instate a CoP system by 31 October 2023.
US Federal Reserve Board slaps $14.5m fine on Metropolitan Commercial Bank
The Board alleges that the bank violated customer identification rules.
UK’s FCA places partner onboarding restrictions on embedded payments platform Modulr
Modulr is working to ensure it meets evolving regulatory requirements following a period of growth.
