ANZ invests in mule account detection solution to help fight fraud
ANZ says it conducted a successful pilot in April, identifying nearly 1,400 high-risk accounts.
Risk Management
FinTech Futures: Top five stories of the week – 11 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
ConnexPay appoints former PayPal exec George Hansen as chief revenue officer
Hansen joins ConnexPay from PayPal, where he served as head of global sales and account management.
FCA warns consumers against loan fee fraudsters amid rising summer borrowing
The average loss to loan fee fraud in the UK is £260.
Singapore’s Endowus raises $35m as it eyes regional expansion
The round saw participation from existing investors including UBS Next, EDBI and Prosus Ventures.
TransferGo hit with €310,000 fine from Bank of Lithuania for AML failings
UAB TransferGo Lithuania has already submitted a plan to the central bank to remedy the deficiencies.
MarketAxess acquires Pragma to leverage quantitative trading technology
MarketAxess aims to accelerate the development of quantitative execution algorithms for fixed-income products.
US insurtech start-up Lula raises $35.5m Series B funding
The insurtech previously raised $18 million in its Series A funding round of July 2021.
Automotive lending platform GoFi taps Provenir for credit risk decisioning
The Texas-headquartered company has implemented Provenir’s Data and Decisioning Platform.
DFSA slaps $3m fine on Mirabaud for AML failings
Between June 2018 and October 2021, DFSA says it found weaknesses in Mirabaud’s AML systems and controls.
Trustmi aims to stamp out B2B payment fraud with global launch
The launch comes just days after the company secured $17 million in a Series A funding round.
Principles, practices and persistence: the Consumer Duty deadline arrives
The regulation is set to completely transform the relationship between financial services firms and consumers.
FinTech Futures: Top five stories of the week – 28 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Germany’s N26 appoints new chief risk officer, Carina Kozole
Kozole, who will begin her new role later this year, has spent the last 17 years at UniCredit Group.
NatWest chief exec Alison Rose steps down with immediate effect
The group’s board of directors says Rose has “agreed by mutual consent to step down”.
UBS to pay $388m in fines relating to Credit Suisse’s doomed dealings with Archegos
The US Federal Reserve has fined Credit Suisse $269 million, with the UK’s PRA issuing a further $119 million fine.
Banco Santander, BBVA and CaixaBank team up to tackle fraud with FrauDfense
FrauDfense is a new company set up to enable the exchange of information between the three banks.
Wirecard fugitive Jan Marsalek resurfaces with a message for the courts
The eight-page letter was delivered to a court in Munich through Marsalek’s defence lawyer.
Report: The future of digital trust – Authentaverse
This free, in-depth report discusses governance frameworks and technological building blocks for Authentaverse.
PSR delivers update on progress of New Payments Architecture
The PSR’s future direction on the NPA was outlined in its annual plan and budget for 2023/24.
Salve Financial Hub signs for Finastra Essence to reduce payment delays
The San Marino-based fintech will deploy Finastra’s SaaS solution for high-value corporate payment processing.
Rapyd names Shlomit Wagman as global chief regulation and compliance officer
Wagman joins Rapyd from the Israel Money Laundering and Terror Financing Prohibition Authority (IMPA).
Deutsche Bank fined $186m by US Federal Reserve
The Fed says it found that Deutsche Bank made “insufficient remedial progress” in fixing its AML controls.
Germany’s BaFin provides updated order on the prevention of money laundering at N26
N26 will reportedly continue to be restricted to 50,000 new customer acquisitions per month.
ThetaRay’s Sonar goes live on Microsoft Azure Marketplace
ThetaRay currently engages around one billion end users and monitors over 15 billion transactions per year.
UK’s National Audit Office launches FCA review
The review will examine how the FCA is working to overcome new challenges and take advantage of opportunities.
Banking Tech Awards USA 2023 winner: Fincom – 90% cost reduction in AML sanctions screening
Fincom’s AML Sanctions Screening solution won the AML & Compliance Tech of the Future at the awards.
FinTech Futures: Top five stories of the week – 14 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
AI-driven financial services must also champion fraud prevention, FCA warns
Cybersecurity must develop in tandem with AI, the regulator’s chief executive said this week.
Unregistered crypto ATM operators continue to feel the wrath of the FCA
Investigations have been carried out at sites in East London, Leeds, Exeter, Sheffield and Nottingham.
James Dixon named as new Allied Payment Network CISO
Dixon intends to “ensure fast and secure payments” and bolster Allied’s information security practices.
FinTech Futures: Top five stories of the week – 7 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Rimes supports digital transformation of Jana with Matrix solution
Jana has gone live with the solution in an effort to streamline and automate its operational processes.
Nine UK banks tap Mastercard for new AI-powered fraud risk solution
Lloyds Bank, NatWest, Monzo and TSB are some of the UK banks partnering with Mastercard for its latest offering.
Indonesia’s Allo Bank taps Tencent Cloud to enhance digital banking services
Tencent Cloud will deploy its database management system TDSQL, to help the bank manage data efficiently.
Corlytics snaps up Clausematch in latest regtech acquisition
The deal marks Corlytics’ second acquisition of the year after buying ING SparQ in January 2023.
Bank of Lithuania revokes EMI licence of PayrNet
The central bank says it took the decision due to “serious, systematic and multiple violations of legal acts”.
Risk and compliance fintech Unit21 bags $45m Series C
The company says the funding has fueled the growth of its Fintech Fraud DAO consortium, launched last fall.
FinTech Futures Jobs: Is your office culture blameless, or blame-filled?
Explore thousands of open roles on the FinTech Futures Job Board today.
Socure snaps up ID verification start-up Berbix for $70m
Socure has integrated Berbix’s tech to launch its new predictive document verification solution, DocV 3.0.
