Report: Digital transformation and trends in financial services
The future of the financial industry, including a shift back to office, fraud prevention, and regulatory compliance.
Regulation
EU Commission blasts anti-competitive Apple for lack of third party NFC access
The EU Commission claims Apple has violated anti-trust rules for the benefit of its own Apple Pay.
NetGuardians tapped by Swiss bank LUKB to boost fraud prevention
LUKB will deploy NetGuardians’ AI-powered software as it looks to shore up its defences against payment fraud.
FinTech Futures: Top five stories of the week – 29 April 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
CFPB invokes “largely unused” Dodd-Frank law to scrutinise fintechs
“This authority gives us critical agility to move as quickly as the market,” CFPB director Rohit Chopra says.
Norway’s Signicat buys UK anti-fraud firm Sphonic
The company aims to be the go-to provider for digital identity and anti-financial crime services across Europe.
How the regulation of fintech could help the UK stay competitive in the sector
The UK must balance innovation and competition with the need for customer protection through effective regulation.
MoneyGram sued by CFPB and NYAG for allegedly “leaving families high and dry”
MoneyGram responded to the “baseless claims”, adding it is “fully prepared to vigorously defend itself”.
Irish fintech Fenergo acquires AML transaction monitoring start-up Sentinels
The acquisition, for an undisclosed sum, is set to strengthen the firm’s client lifecycle management platform.
Kiwi regtech start-up First AML lands £15.6m Series B, makes UK debut
The company’s co-founder Bion Behdin is relocating to its new London office.
Tighten financial crime controls, FCA tells challengers
The FCA review found some UK challenger banks have “weaknesses” with regards to financial crime controls.
Osterman research report: privacy compliance in the US, status and progress in 2022
The emergence of new privacy regulations in the US and recommendations for the next wave of compliance.
How GoCodeGreen is aiming to make fintech software net-zero
Eric Zie, CEO and founder of GoCodeGreen, talks to FinTech Futures about the push for sustainable software engineering.
FinTech Futures: Top five stories of the week – 8 April 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
US start-up Remote raises $300m in Series C funding
The firm previously secured $150 million in a Series B round in July 2021.
Two years on from the FCA’s AML/CTF registration regime, how are firms managing?
Two years on from its introduction, how have cryptoasset firms been navigating the registration process?
LSEG acquires digital ID verification data provider Global Data Consortium
GDC is a global provider of identity verification data to support clients with know your customer (KYC) requirements.
Norway’s Signicat boosts management team with several new appointments
Signicat CEO says: “We now look forward to the next phase of our international expansion.”
Video: SmartStream on the use of AI and ML for regulatory alignment and transaction reporting
FinTech Futures chats with Jethro MacDonald, product manager at SmartStream.
What the FinTech? | S.3 Episode 4 | Risk, resilience and regulations
In this episode, we’re joined by Wayne Scott, regulatory compliance solutions lead at NCC Group.
Why is digital customer onboarding so important in banking?
To offer a competitive onboarding process, most banks will need to acquire a new level of technical flexibility.
FinTech Futures: Top five stories of the week – 25 March 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FCA says all UK crypto ATMs must be shut down
The FCA says none of the cryptoasset firms registered with the regulator have been approved to offer crypto ATM services.
It’s time for banks to take responsibility for their ESG data
In the wake of COP26 last year, the ESG regulatory agenda is advancing at pace.
USAA hit with $140m fine from FinCEN for Bank Secrecy Act violations
USAA admitted to failing to accurately report in a timely manner thousands of suspicious transactions to FinCEN.
Credit Libanais, Codebase Technologies and Visa team for financial inclusion in Lebanon
Credit Libanais launches an instant, fully e-KYC onboarding mobile application for a virtual prepaid card.
Regtech provider Encompass raises $33m to fuel global growth
There will be “extensive recruitment” at the company’s new offices in New York and Amsterdam.
Payoneer taps cybersecurity firm ThetaRay for AI-powered transaction monitoring
Payoneer will deploy ThetaRay’s Sonar solution from Q2 2022.
BNY Mellon first GSIB to integrate Chainalysis crypto compliance software
BNY Mellon is building a multi-asset digital custody and admin platform for traditional and digital assets.
Digital ID verification start-up OCR Labs expands to North America with $30m funding
OCR Labs has raised $46 million through its combined Series A and B.
Virgin Money revamps customer onboarding with HooYu
Virgin Money implements a new account opening journey for its customers.
Fintech momentum is growing in Cyprus, but challenges must be resolved
The fintech scene in Cyprus is growing rapidly, but there are still some hurdles to overcome.
Seven ways “saving” has changed during the pandemic
Seven changes we’ve seen during the pandemic that will drive long-term changes for savings providers.
Mashreq Bank implements ThetaRay’s transaction monitoring tech for correspondent banking
Mashreq Bank is Israel-based ThetaRay’s first customer in the UAE.
Round and round: how circular economy fintechs are aiming to save the planet
Twig CEO Geri Cupi thinks the circular economy is now at a tipping point in terms of mainstream acceptance.
Trulioo acquires HelloFlow to create “end-to-end identity platform”
HelloFlow is a no-code builder of client onboarding, monitoring, and digital workflow solutions.
UK challenger Revolut secures Aussie credit licence
Revolut Australia CEO says the firm is creating the “world’s first truly global financial platform”.
Compliance tech provider Sardine raises $19.5m in Series A
New funding came from Andreessen Horowitz, NYCA and Experian Ventures.
Suffolk Building Society signs for TruNarrative’s regtech
TruNarrative’s technology will digitise mortgage customer onboarding and help prevent financial crime.
The urgency needed for banks to enter the BNPL space
Banks have an opportunity to get ahead in the BNPL space as authorities introduce new regulations.
