ICYMI fintech funding round-up: Tuum, DigiMaaya, Youverify, Trampay and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Anti-Money Laundering/AML
Video: Intrepid Fox at FinovateEurope 2024 – When KYB meets GenAI
We sat down with Roman Zilber of Intrepid Fox to discuss the intersection between KYB and GenAI.
Cotribute tapped by Clearwater Credit Union to streamline digital account opening and loan origination processes
The partnership will see Clearwater leverage Cotribute’s consumer and business digital account opening modules.
Green Dot receives proposed consent order from US Federal Reserve
Green Dot says the consent order relates “principally to various aspects of compliance risk management”.
UK regtech Napier AI secures £45m funding from Crestline Investors
Napier AI claims that since 2021, its top-line revenue has grown at more than 30% year on year.
FinTech Futures: Top five news stories of the week – 16 February 2024
Our pick of the top fintech news stories this week includes Monese, Virgin Money, Bank of America and more.
The Philippines’ UnionBank taps Informatica for MDM solution
Informatica says the solution provides an “enterprise-wide, 360-degree view of customers”.
Digital ID verification firm Socure bolsters executive team with three new hires
Arun Kumar has joined from Luma Financial Technologies as the company’s new CTO.
Canadian regulator fines RBC $5.5m for “administrative violations” of its AML rules
FINTRAC says it uncovered three administrative violations by RBC during an examination last year.
FinTech Futures: Top five stories of the week – 24 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Binance CEO exits after pleading guilty to money laundering charges
Binance has agreed to pay $4.3bn in “one of the largest corporate penalties in US history”.
Blue Ridge Bank set to trim BaaS fintech partnerships down to a “limited number”
The bank was flagged by the OCC last year for “unsafe or unsound” practices concerning its BaaS business.
ICYMI fintech funding round-up: Refine Intelligence, Apiture, Solvimon and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
Lynx raises £15m Series A funding to fight fraud and financial crime
Created 20 years ago, Lynx leverages AI and machine learning to detect and prevent financial crime.
Global enforcement fines rise to $5.65bn in Q3 2023
The first two quarters of this year saw global enforcement fines amount to $1.5bn and $2.27bn, respectively.
JP Morgan Payments taps Trulioo for personal and business ID verification
JP Morgan Payments will leverage Trulioo’s person match and identity document verification services.
US Federal Reserve Board slaps $14.5m fine on Metropolitan Commercial Bank
The Board alleges that the bank violated customer identification rules.
Generali Investments’ holding company taps Fenergo for AML compliance
Through the partnership, Generali Investments Holding will utilise Fenergo’s client lifecycle management solution.
Video: ComplyAdvantage at Sibos 2023 – Financial crime risk management
We chat with Andrew Davies of ComplyAdvantage about what’s shaping the financial crime landscape in banking.
Puerto Rico’s Arival Bank names Nishi Gupta as chief compliance officer and general counsel
Gupta joins Arival Bank from US-based consumer fintech company Eco, where he served as head of compliance.
Video: DTCC at Sibos 2023 – Cybersecurity and the evolving threat landscape
We speak with Jason Harrell of DTCC about the emerging cyber threats financial institutions should be prepared for.
Kazakhstan fintech Freedom reportedly under investigation by SEC, DOJ
According to documents seen by CNBC, the SEC’s Boston office has been investigating Freedom for months.
AI: Will it help or hinder compliance?
AI can’t replicate human nuance nor can it fully comprehend the human motivations for committing fraud.
Visa taps US security operations provider Expel for MDR capabilities
Expel’s managed detection and response (MDR) solution claims to reduce alert-to-response times “to minutes”.
GenAI: friend or foe in fraud risk management?
While tech advancements are made with the best intentions to improve our lives, criminals can also use it to their own benefit.
FinTech Futures: Top five stories of the week – 29 September 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
US Treasury Department enlists JP Morgan for account validation services
The department claims to have suffered $247 billion in financial losses last year due to “improper payments”.
SEC hands $25m penalty to Deutsche Bank subsidiary for AML violations and ESG “misstatements”
DWS Investment Management Americas Inc. has agreed to pay the penalty without admitting or denying the SEC’s charges.
Onfido appoints Daniel Keller as chief technology officer
Keller joins Onfido from Europe’s Visable Group, where he served as CTO for over six years.
Sibos readies the industry to unlock the full force of AI
A variety of compelling panels led the event’s narrative on one of this year’s most trending topics.
Sibos 2023: The era of instant payments – global banks must turn to the latest technology
Innovative technologies are bringing the future of payments forward for banks.
FinTech Futures: Top five stories of the week – 15 September 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Bonifii’s new identity credential completes pilot with Lone Star Credit Union
The product is now expected to be offered to more credit unions and banks in the US.
ICYMI fintech funding round-up: GenTwo, Momnt, myZoi, Treyd, Firstcard & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Heather Gantt-Evans joins Marqeta as chief information security officer
US Army Reserves veteran Gantt-Evans will lead the firm’s global corporate and product security strategies.
Video: What’s the next big thing in fintech?
We ask three experts what they think could be the next big thing that will completely transform the industry.
FinTech Futures: Top five stories of the week – 18 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
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.
European Commission brings in Moody’s Analytics to help fight fraud
Moody’s Analytics’ Orbis database is set to strengthen the European Commission’s anti-fraud efforts.
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.
