Crypto firm Nexo denies allegations made by Bulgarian prosecutors
Nexo intends to file claims “for all financial and non-pecuniary damages suffered as a result of illegal actions”.
Regulation
CFPB outlines public registry proposal for nonbank terms and conditions
Firms would need to submit information on terms and conditions that “waive or limit” consumer rights.
FCA fines Al Rayan Bank £4m for inadequate AML controls
Al Rayan did not dispute the FCA’s findings and agreed to settle.
Automated intelligence regtech Cube acquires The Hub
Cube’s CEO says the deal marks the first in what is expected to be a series of acquisitions.
Swiss payment app Twint taps NetGuardians for fraud prevention boost
Software leverages behavioural analytics, machine learning and artificial intelligence to detect anomalous payments.
Jack Ma to cede control of Chinese fintech Ant Group
After the restructuring, “no shareholder, alone or jointly with other parties, will have control over Ant Group”, the firm says.
FinTech Futures: Top five stories of the week – 6 January 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Coinbase hit with $50m fine for “significant” compliance failures
Coinbase has also been ordered to invest an additional $50m into its compliance programme over the next two years.
Finnish crypto firm Coinmotion lands Bank of Spain authorisation
The Bank of Spain has initiated registration for crypto providers as it seeks to clamp down on money laundering.
US agencies outline risks of crypto to banking system
In a year marked by “significant volatility”, the agencies highlight a number of risks banks should consider.
DLT in 2023: out of the blocks
What does 2023 have in store for distributed ledger technology (DLT)?
CFPB orders Servicio UniTeller to refund fees and pay penalty
The CFPB says between 2013 and 2021, the firm “failed to comply” with many electronic money transfer requirements.
The regulatory landscape and predictions for 2023
Being able to quickly respond to changing regulatory requirements is more important than ever.
Coinbase lands virtual asset provider licence from Central Bank of Ireland
Coinbase’s Ireland operations will also now be headed up by Cormac Dinan, its new country director.
Australia’s Alex Bank lands regulatory ADI licence
The bank says it was granted the licence just 18 months after it received a restricted ADI licence.
2022: Top five payments stories
FinTech Futures takes a look back at some of the year’s top developments and stories in payments.
2022: Top five crypto developments
FinTech Futures takes a look back at some of the year’s top crypto developments and stories.
2022: Top five partnerships
FinTech Futures takes a look back at some of the year’s top new fintech partnerships.
2022: Top five regulations and fines
FinTech Futures takes a look back at some of the year’s top regulatory stories of 2022.
Caixa Geral de Depósitos taps Wolters Kluwer for regulatory compliance
CGD, Portugal’s largest bank, will leverage the Finance, Risk & Regulatory Reporting (FRR) service from Wolters Kluwer.
What’s in store for ESG in 2023?
Over the next few years, many organisations will transform their business models and put ESG front and centre.
Wells Fargo fined $3.7bn for loan, mortgage and deposit mismanagement
Wells Fargo must pay more than $2bn in redress to 16 million affected consumers and a $1.7bn civil penalty.
UK regulators fine TSB £48.6m over “operational resilience failings”
The FCA says technical failures in TSB’s IT system led to customers being unable to access banking services.
The What the FinTech? podcast | Season three’s jailed buzzwords
We run down all the buzzwords our podcast guests wanted gone from the industry this year.
Six actions CISOs should consider for stronger compliance and risk mitigation
Banks face increasing regulations and compliance requirements as the cyber landscape grows more complex.
UK fintech funding round-up: Bondaval, Etrading Software and Taxd
Our weekly round-up to help you get funding news of fintech companies, this time from the UK.
Bank of Lithuania taps Regnology for supervisory tech solutions
Regnology will help the central bank transform its data management capabilities and regulatory reporting platform.
Circle scraps proposed SPAC deal with Concord
Termination of the merger was approved by the board of directors of both Concord and Circle.
PSR outlines APP scam reporting process for banks and building societies
The PSR says APP scams are a “major problem” in the UK with over 95,000 incidents in the first half of 2022.
FinTech Futures: Top five stories of the week – 9 December 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Santander UK hit with £107.7m FCA fine for AML failures
The regulator says it found “serious and persistent” gaps in the bank’s AML controls.
Getting banked: financial services and the US cannabis industry
We chat with Michael Beird of Infused Banking about how banking is changing for US cannabis businesses.
Drata doubles valuation to $2bn following $200m Series C
The round was led by ICONIQ Growth and GGV Capital with institutional and individual investors participating.
Barclays fined £8.4m by payments regulator for breaking interchange fee rule
The PSR has fined banking heavyweight Barclays £8.4 million for failing to comply with the IFR.
ICYMI fintech funding round-up: Buckzy, FrankieOne and Ejara
A handy round-up of the recent funding endeavours of fintech companies across the globe.
UK and Singapore strengthen fintech ties
The two countries signed an MoU to remove regulatory barriers to fintech trade.
Swiss digital banking start-up Swiss4 bags FINMA fintech licence
The licence provides authorisation for the company to act as a deposit-taking financial institution.
Three tips for navigating global payments as you expand internationally
Branching into new markets brings serious challenges when it comes to managing payments on a global scale.
FinTech Futures: Top five stories of the week – 25 November 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Q&A: How Diligent is helping companies transition to a modern back office
FinTech Futures chats with Diligent’s Lisa Edwards about the firm’s GRC and ESG solutions.
