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.
Risk Management
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.
Novobanco taps Feedzai for fraud protection and enhanced CX
Novobanco will deploy Feedzai’s Digital Trust (DT) and Transaction Fraud for Banking (TFB) solutions.
PE firm Flexpoint Ford acquires loan origination fintech Baker Hill
The transaction is expected to close soon following customary regulatory approvals.
Google Cloud launches AI-powered AML offering for financial institutions
Google Cloud claims its AML AI solution helps increase risk detection and lower operational cost.
Okoora launches integrated payments, banking and risk management platform
To facilitate its expansion, the start-up has submitted licence applications in multiple European countries.
CFIT appoints Stephen Ingledew and Alex Marsh as independent non-executive directors
Stephen Ingledew is chairman of FinTech Scotland and Alex Marsh is the former head of Klarna UK.
Video: Loqate at FinovateSpring 2023 – Powering global address verification
Loqate’s Justin Duling discusses how the firm’s address verification solution helps customers boost conversion rates.
Mediobanca’s Compass acquires HeidiPay Switzerland
The acquisition will enable Compass to become a consumer credit operator in the Swiss market.
US risk intelligence firm Blackbird.AI lands $20m Series B
Blackbird.AI helps organisations detect and respond to threats that can cause reputational and financial harm.
Webinar: Unlocking efficiency – cloud-native observability for financial services
Join FinTech Futures and Chronosphere on 19 July for am informative discussion on cloud native observability.
Nasdaq to acquire software firm Adenza for $10.5bn
The transaction, subject to regulatory approvals, is expected to close within six to nine months.
FinTech Futures Jobs: Why early-career workers no longer see tech giants as a safe bet
Explore thousands of open roles on the FinTech Futures Job Board today.
Regtech start-up Consilient names Jeremy Kedziora director of data science
Consilient, a US-based regtech, aims “to transform how the industry prevents financial crime”.
Bank and payment data fintech Ribbit acquires regtech ValidiFI
Ribbit CEO Greg Rable says bringing together the two companies is a “win-win” for both customers and Ribbit.
FinTech Futures Jobs: Three ways generative AI is being used in financial services
Explore thousands of open roles on the FinTech Futures Job Board today.
Swiss fintech Teylor lands €275m debt funding
With the funding, Teylor plans to facilitate its growth and enable it to meet the financing needs of SMEs.
