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.
Know Your Customer/KYC
Dutch commercial bank NIBC taps Fenergo for KYC tech
The bank plans to streamline the onboarding of new clients with enhanced KYC processes.
Europe fintech funding round-up: Aria, AbbeyCross, Salv and more
A handy round-up of the recent funding endeavours of fintech companies across Europe.
Marsden Building Society taps Jade ThirdEye for AML tech
The firm will deploy Jade ThirdEye’s Transaction Monitoring and Customer Screening solution.
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.
Eurosystem eyes up alternative payment solutions in latest retail payments strategy update
The aim of the strategy is to “develop pan-European solutions for payments at the point of interaction”.
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.
Contis hit with €840,000 fine by Bank of Lithuania
The fine relates to alleged AML failings over a period between 2021 and 2022.
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.
Jordan’s Capital Investments taps Codebase Technologies for digital onboarding
Capital Bank of Jordan previously tapped Codebase to launch its digital banking app and neobank Blink.
AMP Bank and Salt Bank tap Starling’s Engine platform for digital banking offerings
Engine enables clients to build their own banking propositions using the same core technology that Starling uses.
Bambu taps WealthKernel to launch “world’s first” SaaS robo-advisor
Bambu says its solution has been designed for financial institutions that cater to mass retail investors.
Video: Atomic at Money20/20 USA 2023 – Powering financial connectivity
Atomic’s Andrea Martone discusses how the firm is helping businesses align with the CFPB’s vision for open banking.
Report: State of verification and monitoring in the crypto industry
Data-driven study into verification practices among crypto businesses: checks, budgets, pass rates.
Video: Socure at Money20/20 USA 2023 – Fighting first-party fraud
We chat with Socure’s Johnny Ayers about the launch of the company’s Sigma Identity Fraud solution.
European regulators agree on new rules for SEPA instant payments
The rules state that instant transfers must not cost more than standard services.
Regtech Qomply hires former FCA regulator as director of transaction reporting
The company describes Sophia Fulugunya as “a front-line expert in transaction reporting”.
BNP Paribas taps Lenvi to manage risk for factoring and receivables finance
BNP Paribas will deploy Lenvi’s Riskfactor product portfolio in eight countries across Europe.
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.
NET Credit Union selects Bankjoy for digital onboarding solution
Bankjoy says its solution enables new customers to open an account in just 90 seconds.
Íkualo to launch next month as neobank for Europe’s financially excluded immigrant community
The licensed electronic money institution will be able to onboard new customers with just a passport.
US Federal Reserve Board slaps $14.5m fine on Metropolitan Commercial Bank
The Board alleges that the bank violated customer identification rules.
How the UK’s FCA is set to scrutinise banks’ treatment of PEPs with new review
Dr Henry Balani of Encompass Corporation discusses the impact of the review on the UK banking system.
Generali Investments’ holding company taps Fenergo for AML compliance
Through the partnership, Generali Investments Holding will utilise Fenergo’s client lifecycle management solution.
ID verification specialist Prove Identity bags $40m to fuel global expansion
The company currently counts more than 1,000 businesses as clients, including nine of the top ten banks in the USA.
Video: ComplyAdvantage at Sibos 2023 – Financial crime risk management
We chat with Andrew Davies of ComplyAdvantage about what’s shaping the financial crime landscape in banking.
Nova Credit raises $45m in Series C round to expand product suite
The round was led by Canapi Ventures and builds upon the company’s $50m Series B from 2020.
Puerto Rico’s Arival Bank names Nishi Gupta as chief compliance officer and general counsel
Gupta joins Arival Bank from US-based consumer fintech company Eco, where he served as head of compliance.
Video: DTCC at Sibos 2023 – Cybersecurity and the evolving threat landscape
We speak with Jason Harrell of DTCC about the emerging cyber threats financial institutions should be prepared for.
PSP NomadRem taps regtech iDenfy for ID verification and AML screening
The payment service provider is to deploy the regtech’s solutions to enhance its customer onboarding processes.
Kazakhstan fintech Freedom reportedly under investigation by SEC, DOJ
According to documents seen by CNBC, the SEC’s Boston office has been investigating Freedom for months.
American Express to pilot biometrics for online transactions
The biometrics have been developed by the FIDO Alliance and the World Wide Web Consortium.
AP automation start-up Stampli raises $61m in Blackstone-led Series D
Existing investors Insight Partners, SignalFire, Bloomberg Beta and NextWorld Capital also participated in the round.
AI: Will it help or hinder compliance?
AI can’t replicate human nuance nor can it fully comprehend the human motivations for committing fraud.
Lloyds Bank taps digital identity firm Yoti for “reusable” digital identity app
The launch comes seven months after Lloyds Banking Group made a £10 million investment in Yoti.
Revolut reportedly in talks with the UK’s FCA over AML failures
The fintech reportedly allowed funds to be released from accounts which were flagged as suspicious by the National Crime Agency (NCA).
GenAI: friend or foe in fraud risk management?
While tech advancements are made with the best intentions to improve our lives, criminals can also use it to their own benefit.
FinTech Futures: Top five stories of the week – 29 September 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Codebase partners Network International to launch BaaS solution in the Levant
The partnership intends to accelerate the pace of digital banking transformation throughout the Levant region.
US Treasury Department enlists JP Morgan for account validation services
The department claims to have suffered $247 billion in financial losses last year due to “improper payments”.
