Video: Griffin at Money20/20 Europe – From licence to longevity
Griffin CEO David Jarvis discusses the bank’s licensing journey and what’s next in store.
Compliance
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.
Azqore selects Volante Technologies’ PaaS tech for SEPA instant payments
Azqore previously selected Volante to accelerate its ISO 20022 adoption programme in 2022.
US FDIC issues consent order to Thread Bank
The consent order, effective 21 May, mandates Thread Bank to enhance its oversight of its BaaS programme.
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.
US regtech start-up Norm Ai raises $27m Series A funding
The investment brings the total raised by Norm Ai over the past 11 months to $38 million.
June 2024: Top five new fintech launches of the month
FinTech Futures takes a look back at five of the top new launches in June.
Abacus Group acquires Tribeca Technology Group to strengthen UK presence
The acquisition follows Abacus’ GoVanguard purchase last year.
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”.
Payzli in search of new CEO amid leadership restructuring
Arash Izadpanah will transition from CEO to chief risk officer.
Merrick Bank partners Kompliant for digital merchant onboarding
The merchant acquirer is to utilise the vendor’s workflow automation tools.
ICYMI fintech funding round-up: Layer3, Sidekick, Elevate, Sahl, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
The AI Summit: Real world AI
Use cases, pathways and challenges to implementation, and the evolving regulatory frameworks.
Pennsylvania’s Vertex purchases AI tax capabilities from Ryan
Vertex claims the deal will enhance its “AI innovation strategy”.
Moldindconbank taps Salt Edge for PSD2 compliance in Moldova
Moldindconbank is to leverage the vendor’s open banking compliance solution.
Former Temenos execs found GenAI banking tech start-up, yPilot
Based in Vancouver, Canada, yPilot says it “leads the way in AI innovation for banks and credit unions”.
ICYMI fintech funding round-up: Fizz, Torpago, Sibill, WealthOS and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
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.
ICYMI fintech funding round-up: Landytech, Frich Money, Swiipr and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
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.
FinTech Futures: Top five news stories of the week – 24 May 2024
Our pick of the top fintech news stories this week includes JP Morgan Chase, Citi, BBVA, OpenAI and more.
CFPB says BNPL firms must comply with credit card consumer protection rules for billing disputes and refunds
BNPL firms will now be required to investigate disputes, refund returned products and provide billing statements.
Citi fined £61.6m by UK regulators for “failures in its trading systems and controls”
The total penalty consists of a £33,880,000 fine from the PRA and a £27,766,200 fine from the FCA.
US CFPB sues SoLo Funds for allegedly “deceiving borrowers about the total cost of loans”
The regulator says it is suing the firm for “deceiving borrowers and illegally extracting fees”.
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”.
CFPB fines Chime $3.25m for customer refund delays
Chime is to also pay “at least $1.3 million in redress to harmed consumers”.
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.
JP Morgan Chase to pay additional $100m penalty to US regulator over trade surveillance data gaps
The bank was previously hit with a $348 million fine from the OCC and FRB in March.
Former Thomson Reuters exec David Larson named Feedzai’s new CFO
Larson previously spent over eight years at Canadian multinational information corporation Thomson Reuters.
Celebrating 25 years of innovation: Banking Tech Awards 2024 nominations now open
Nominations for the Banking Tech Awards 2024 are now officially open to companies worldwide!
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.
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.
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.
ICYMI fintech funding round-up: Mimo, TransferGo, Smartpay, Adro and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FloQast lands $100m Series E funding at $1.6bn valuation
FloQast claims its flagship offering, the Accounting Operations platform, serves over 2,600 accounting teams worldwide.
UK fintech Gresham Technologies to be acquired by STG Partners for £147m
The acquisition is expected to close by the third quarter of 2024.
Banking Technology Magazine April 2024 issue out now
Core story: GOLD GETTERS – The Olympics and fintech make the perfect team.
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.
