Caribbean-based Proven Bank taps Ireland’s Fenergo for transaction monitoring solution
Fenergo says its solution is designed to reduce false positives and automate manual AML processes.
Risk Management
Qonto receives order from Banca d’Italia to improve AML measures in its Italian subsidiary
The firm says the order includes a temporary ban on onboarding new customers in Italy.
Israel’s ThetaRay snaps up Screena to enhance financial crime detection
Screena’s solution enhances customer onboarding by verifying entities against various sanctioned party lists.
Ireland’s An Post joins forces with Safecypher to combat CNP payment fraud
Safecypher’s tech tackles CNP fraud by enhancing CVV protection for card payments.
Coinbase’s CB Payments unit fined £3.5m by FCA
The FCA claims CBPL breached a requirement that prevented it from offering services to “high-risk customers”.
Corlytics hires new CTO, chief data officer and chief tech architect
Former AQMetrics exec Steve Barnes has been named as the group’s new chief technology officer.
Simona Covaliu appointed new CRO of PayU GPO
Covaliu will lead PayU GPO’s security, compliance, privacy and risk units.
What the FinTech? | S.5 Episode 12 | The emerging technologies driving innovation in payments
In this podcast episode, we chat with George Maddaloni, CTO of Operations at payments giant Mastercard.
Former Affirm VP Sibongile Ngako joins US fintech Brex as chief compliance officer
Ngako will lead the compliance programme at Brex and expand its risk-mitigating frameworks.
US Federal Reserve fines digital bank Green Dot $44 million over “unfair and deceptive practices”
Green Dot has been anticipating the arrival of the consent order since February.
B2B paytech Slope lands $65m equity and debt funding led by JP Morgan
Following the investment, Slope will join the JP Morgan Payments Partner Network.
Covering the exposed: The effects of the FCA’s PEP review on financial compliance
The FCA is set to publish its review of the treatment of politically exposed persons (PEPs) this month.
US regulators fine Citigroup $136m for “insufficient progress” towards compliance with 2020 consent order
The OCC and the Federal Reserve Board have fined Citigroup $75 million and $60.6 million, respectively.
Shock absorbers: how to prepare effectively for external volatility
How can organisations protect themselves from external shocks that nobody can predict?
Robinhood buys AI-powered investment research platform Pluto Capital
The deal comes less than a month after the digital trading platform announced its $200 million purchase of Bitstamp.
UK challenger Atom Bank hires Gareth Jones as new chief risk officer
Jones is to replace Chris Sparks, who is set to retire after nine years at the company.
The rise of instant payments: protecting consumers from criminals in 10 seconds
How can financial institutions strike a balance between speed and safety with instant payments?
FinTech Futures: Top five news stories of the week – 28 June 2024
Our pick of the top fintech news stories this week includes Klarna, iBusiness Funding, Norm Ai, Nubank and more.
June 2024: Top five movers and shakers stories of the month
FinTech Futures takes a look back at five of the top movers and shakers stories during June.
Climate X completes $18m Series A led by Google Ventures
The UK-based start-up will use the funds to bolster its new commercial team in New York.
New start-up Fideo Intelligence launches offering data-driven fraud-fighting solutions
The start-up operates under identity resolution SaaS platform FullContact.
Verituity secures $18.8m round led by Forgepoint Capital and Sandbox Industries
Sandbox Industries’ chief Chris Zock is to join Verituity’s board of directors.
US Federal Reserve Board issues cease and desist order against Evolve Bank
The bank is alleged to have “engaged in unsafe and unsound banking practices”.
Merrick Bank partners Kompliant for digital merchant onboarding
The merchant acquirer is to utilise the vendor’s workflow automation tools.
Money20/20 Europe explores blockchain, payments and personalisation on day two
Leading figures from financial services gathered in Amsterdam for day two of Money20/20 Europe on Wednesday.
Money20/20 Europe brings tokenisation, AI and digital transformation into focus
Day one’s proceedings took a specific focus on the topics of AI, tokenisation and digital modernisation journeys.
Comerica Bank & Trust reaches formal agreement with US OCC over enforcement action
The OCC has ordered the bank to create a compliance committee as part of the action.
Rich Data Co inks first US deal for AI decisioning platform with M&T Bank
North America’s sixth-largest commercial bank has tapped the platform to “detect more early warning signs” in lending.
N26 fined €9.2m by BaFin over late submission of suspected money laundering reports in 2022
N26 says it has implemented “numerous measures to further improve reporting processes” since 2022.
Protecting against deepfakes in the era of LLMs
FinTech Futures speaks with FinVolution about how the financial sector can tackle the threat of deepfakes.
FinovateSpring 2024: GenAI and future fraud strategies in focus on day one
Industry leaders convened in San Francisco on Tuesday to kick off FinovateSpring 2024.
AI-powered regtech Cube acquires global regulatory intelligence enterprises from Thomson Reuters
Through this acquisition, Cube aims to “set a new bar for the industry in regulatory automation”.
Marine financing fintech Salt granted FCA approval and names new CRO
In addition, the fintech revealed it was on the hunt for additional investors for its ongoing seed funding round.
What are the strengths, weaknesses and concerns around open banking?
The industry must ensure that open banking tech serves the strategic needs of consumers and institutions.
FINRA fines SoFi $1.1m after consumer identification flaws led to multi-million dollar heist
SoFi Money – the unit targeted by fraudsters – was ultimately closed by the fintech in June 2022.
AYA Bank taps SmartStream for transaction lifecycle management solution
The bank has selected SmartStream’s TLM Reconciliations Premium Digital Payments Control solution.
Former Thomson Reuters exec David Larson named Feedzai’s new CFO
Larson previously spent over eight years at Canadian multinational information corporation Thomson Reuters.
Multi-cloud, multi-headaches?
While a multi-cloud strategy offers potential benefits for banks, it also introduces significant challenges.
EPAA forms working group with IBM, HSBC, AP+, and PayPal to explore quantum-safe cryptography
The WG-QSC intends to publish its initial findings ahead of Sibos in October 2024.
Risk orchestration: addressing the misconceptions – hub platform vs true orchestration performance
There’s a genuine bottom-line benefit to be realised through effective risk orchestration of your compliance processes.
