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.
Anti-Money Laundering/AML
Amazon set to roll out palm payment processing across all US Whole Foods stores
The Amazon One technology allows users to complete transactions using just their hand.
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.
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.
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.
James Dixon named as new Allied Payment Network CISO
Dixon intends to “ensure fast and secure payments” and bolster Allied’s information security practices.
Thieves make away with $20m from Revolut following payment flaw
Flaws in its US and European payment systems meant that some declined transactions were wrongly refunded.
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.
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.
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.
FIS acquires BaaS start-up Bond for undisclosed sum
In an internal memo, FIS shares that it completed the Bond acquisition on 8 June.
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”.
ICYMI fintech funding round-up: Ballerine, Trébol & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Join the elite panel of judges for Banking Tech Awards 2023
Apply to become a judge for the Banking Tech Awards 2023!
Nigerian paytech VigiPay taps ThetaRay for Sonar AML solution
Sonar will help protect the growing business against sanctions violations and other types of financial crime.
Fenergo appoints new CFO and CRO to drive global expansion
Fenergo says the new hires will play a “pivotal role” in driving its global expansion and SaaS strategy.
FinTech Futures Jobs: Five of the best fintech career paths, and what you can earn
Explore thousands of open roles on the FinTech Futures Job Board today.
Quantexa raises $129m Series E funding at $1.8bn valuation
The company will use the new capital to expand its global presence and hire more engineering staff.
US, European agencies seize €44m worth of BTC in crypto mixer raid
The law enforcement agencies seized seven terabytes worth of data, consisting of 1909.4 BTC.
US credit union Golden 1 taps AML RightSource to strengthen transaction monitoring
AML RightSource’s tech will automate Golden 1’s transaction monitoring investigations and reporting.
Quantifind bags $23m in funding to help firms combat financial crime
Quantifind’s SaaS solutions help banks and financial institutions tackle money laundering and fraud.
Tudi taps ThetaRay for transaction monitoring solution
Through the partnership, ThetaRay will provide Tudi its Sonar transaction monitoring solution.
Power to the people: How Zenus Bank aims to democratise access to banking
FinTech Futures sits down for a chat with Mushegh Tovmasyan, founder of Zenus Bank.
Should digital banking platforms be fraud prevention solutions by design?
Banks should look to use technology to not only curb financial crime but to gain a competitive advantage.
FinTech Futures: Top five stories of the week – 24 February 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Banesco USA taps AML RightSource for automated due diligence solution
Banesco will deploy AML RightSource’s Automated EDD (Enhance Due Diligence) solution.
AI regtech WorkFusion names Arthur Mueller VP of financial crime
Mueller joins from Rabobank North America where he served as AML and sanctions officer for more than six years.
Digital asset exchange Gate.io taps Coinfirm for AML/CFT platform
Gate.io says the Coinfirm partnership will give the firm “a solid foundation” and shore up its compliance.
Bank of Nevis International taps Tookitaki for AML tech
The Caribbean bank will deploy Tookitaki’s Anti-Money Laundering Suite (AMLS).
Why 2023 is time for us to tackle financial crime properly
The impact of financial crime continues to be severe, but 2023 could be a breakthrough year.
US DoJ charges crypto exchange founder over alleged illicit fund transfers
The DoJ alleges Bitzlato processed more than $700m in illicit funds.
FinTech Futures: Top five stories of the week – 6 January 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Coinbase hit with $50m fine for “significant” compliance failures
Coinbase has also been ordered to invest an additional $50m into its compliance programme over the next two years.
The regulatory landscape and predictions for 2023
Being able to quickly respond to changing regulatory requirements is more important than ever.
Coinbase lands virtual asset provider licence from Central Bank of Ireland
Coinbase’s Ireland operations will also now be headed up by Cormac Dinan, its new country director.
2022: Top five regulations and fines
FinTech Futures takes a look back at some of the year’s top regulatory stories of 2022.
2022: The year of fintech job cuts
FinTech Futures takes a look back at a bruising year of job cuts in fintech.
Four tips to help you design a risk strategy to combat fraud in 2023
Mitigating fraud and building trust with customers should be top of the agenda for businesses in 2023.
