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.
Risk Management
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.
India’s RBI orders Kotak Mahindra Bank to cease onboarding new customers digitally
The bank will continue to provide services to its existing customers.
Encompass Corporation promotes VP Stuart Barnard to CFO
Barnard is to take “ultimate responsibility” for the UK regtech’s global finance and business operations.
UK regtech ComplyAdvantage snaps up Golden to strengthen financial crime intelligence offering
The deal will also see VC firm Andreessen Horowitz become a shareholder in ComplyAdvantage.
Payflows emerges from stealth with €25m Series A funding
The Paris-based start-up has been in stealth mode since 2022.
Monese to split business in two amid mounting financial woes
The UK-based fintech has enlisted Interpath Advisory to assist in the internal restructuring.
The essential buyer’s guide for risk orchestration software
Crucial insights for fintechs seeking risk orchestration platform vendors to streamline their customer lifecycle and regulatory screening.
Wells Fargo to integrate AI into trade finance operations with TradeSun
The San Francisco-based bank will utilise the fintech’s TradeSun Intelligence V4 solution.
Temenos review brands Hindenburg Research allegations “inaccurate and misleading”
Temenos’ board chair says the review “reinforces the board’s view that Temenos is running a sound business”.
Nuvei lands Singapore MPI licence for APAC expansion
The licencing follows the paytech’s $6.3 billion acquisition by Advent International.
UK fintech Gresham Technologies to be acquired by STG Partners for £147m
The acquisition is expected to close by the third quarter of 2024.
Kneip names ABN Amro Investment Solutions exec Elisa Alonso Sanz as new CEO
Sanz will succeed Enrique Sacau, who has served in the position since 2020.
CFPB publishes new report highlighting risks related to financial transactions in video games
Americans spent nearly $57bn on gaming hardware, software, and in-game transactions in 2023.
PostFinance overhauls disputes management tech with new Rivero collaboration
The arrangement will see the bank leverage the Zurich-based start-up’s SaaS solution Amiko.
MAS unveils new Cosmic platform to help banks defend against terrorism financing and money laundering
Cosmic was co-developed by MAS and six banks – Citibank, DBS, HSBC, OCBC, UOB, and Standard Chartered.
Aussie automotive fintech AutoSettle names Jason Van as new CEO
The new CEO has been tasked with leading the start-up’s “next phase of growth and innovation”.
Former Goldman Sachs director Swati Bhatia joins Santander Bank as head of retail banking and transformation
Bhatia counts the likes of Stripe, PayPal and Capital One among her previous employers.
Westpac set to invest billions of dollars to fuel bank-wide tech overhaul
Westpac’s current stack “isn’t older or less capable than peers… we just have too much of it”, according to its CEO.
Risk management specialist Abrigo snaps up TPG Software for investment accounting tech
The acquisition will boost the growth of Abrigo’s existing suite of technical accounting solutions.
UK regtech Encompass Corporation appoints Neil Acworth as new CISO
Acworth’s appointment follows Encompass’ recent acquisitions of CoorpID and Blacksmith KYC.
Video: AtData at Fintech Meetup 2024 – Fraud detection and prevention
At Fintech Meetup, we sat down with AtData to discuss how companies can strengthen their fraud detection strategies.
UK regtech GSS lands £37m in Series A2 funding round
GSS says the new funding coincides with its “transition from the development phase to the operational phase”.
Baader Bank modernises regulatory trade and transaction reporting with Broadridge
Baader Bank already uses Broadridge’s solutions for trading and market connectivity, and order management.
Digital identity specialist Signicat acquires Icelandic counterpart SmartWorks
SmartWorks is Signicat’s sixth acquisition since the arrival of new owner Nordic Capital, in 2019.
What the FinTech? | S.5 Episode 4 | The future of digital identity
In this episode of the podcast, we’re joined by Pinar Alpay, Chief Product and Marketing Officer at Signicat.
April taps Dutch fintech Ohpen to power its UK mortgage offering
The London-based lender provides longer term fixed-rate mortgages and soft launched last month.
Integrated Finance partners KYP for data intelligence and risk monitoring tech
KYP will provide Integrated Finance with onboarding, screening and transaction monitoring tech.
