Varo Money gets NICE AML tech
AML and KYC for all mobile needs.
Anti-Money Laundering/AML
Wiring financial organisations for regulatory success
Firms need to be much bolder in their use of technology; clinging to old methods will only make things worse.
Jumio integrates with ComplyAdvantage for new AML solution
Highlighting the role of sanctions lists in helping fight financial crime.
Bcause picks Nasdaq for market surveillance cause
It will go live in H1 2019 with launch of its new spot cryptocurrency market.
OneCoin boss arrested for crypto fraud
The firm and its leaders are accused of creating a pyramid scheme.
ID verification firm Socure so cool with $30m funding
The Series C round takes the company’s total funding to $57.5 million.
Can automation transform trade finance?
How automation could provide benefits for both bank and corporate clients.
US regulators rouse banks to AML innovation
Banks get love and tech support to strengthen the financial system.
Cathay Bank picks QuantaVerse to combat crime
Sino-American bank selects a range of AI-based anti-financial crime solutions.
Knowing your customer: blockchain’s ultimate killer app?
Abbas Ali, associate director, R3, wants you to be in the know about KYC matters.
Sibos 2018: AML struggles amidst new payment methods
Communication seems to be the theme, again.
Danske Bank talking to US over €200bn money laundering case
Department of Justice would like to ask some questions.
Arachnys gets $10m funding in its web
The regtech’s funding was led by QED.
How is AI transforming financial institutions?
Artificial intelligence is set to become central to the fabric of institutions.
Live chat in banking: recording conversations for compliance
Live chat offers a flexible, transparent and secure tool for recording customer conversations.
No mystery as BB&T invests $5m in data firm Enigma
This is BB&T’s first outlay of its $50m fintech commitment.
IdentityMind unveils regtech webstore
Will let companies integrate compliance and regulatory technologies into their solutions.
Big data start-up Quantexa raises $20m for big plans
Series B funding round led by Dawn Capital.
Accuity safely acquires Safe Banking Systems
With SBS it gets KYC and AML solutions.
Cyber solution provider ThetaRay gets $30m funding
Investment takes company’s total equity capital to more than $60 million.
Blockbid teams turns to LexisNexis for AML compliance
Blockbid shoring up its AML safeguards by turning to LexisNexus Risk Solutions’ ThreatMetrix.
Temenos on M&A trail to grow US business
Anti-money laundering (AML), fraud and wealth management are the focus areas.
NICE Actimize brings AI tech to financial crime investigation
NICE Actimize has launched an artificial intelligence (AI) enabled investigation management system.
Eastern Caribbean Central Bank to pilot blockchain tech with Bitt
A fintech pilot using blockchain tech to be carried out in the ECCB eight member countries.
Onfido to provide digital ID verification tech to Bitstamp
Onfido has been selected by Bitcoin exchange Bitstamp to provide its ID verification during onboarding.
Meed leverages ID verification tech from Jumio to serve the underbanked
Identity verification tech provider Jumio has teamed up with California-based fintech Meed.
Top fintech stories this week – 22 December 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Online security and user experience: finding the balance
Recent hacks and data breaches have shown that cybercriminals are tenacious, smart and well resourced.
The changing face of financial crime compliance
Paul Taylor of Swift’s Financial Crime Compliance Services Division discusses the evolving compliance landscape and the critical role of technology in helping the industry come together as a whole to combat financial crime.
Correspondent banking: it takes two to tango
The global correspondent banking network is under pressure in several countries as some financial institutions close relationships. While financial inclusion continues to climb the agenda of regulatory authorities and financial institutions pledge their support, the de-risking taking place in correspondent banking threatens to scupper inclusion.
De-risking in trade finance: time to act
As financial authorities express concern about de-risking in correspondent banking, a similar phenomenon is emerging in trade finance, driven by the high costs of KYC compliance.
KYC Registry aligns with Wolfsberg DDQ
Swift is aligning its KYC Registry with the new Wolfsberg Due Diligence Questionnaire (DDQ) for correspondent banks. First issued in 2004, the DDQ was updated in response to regulatory pressure.
Regtech to the rescue
Regulatory technology (regtech) is often cited as the answer to the rising cost of compliance, risk and reporting duties at banks. Will it help financial institutions escape IT silos and enhance control over data?
Infographic: Common Reporting Standard (CRS) – a year on
Financial institutions face unprecedented data management and compliance challenges as they continue to grapple with multiplying CRS and FATCA related global tax transparency regulations.
Payments: where have all the correspondents gone?
At the recent G20 meeting in Germany, Financial Stability Board (FSB) briefed leaders on its efforts to arrest the decline in correspondent banking relationships. FSB also presented the results of a survey of more than 300 banks in 50 countries, supplemented by Swift payments data, which showed that the number of correspondent banking relationships continues to decline globally.
Webinar: Lessons learned from the first year of CRS reporting obligations
Financial institutions face unprecedented data management and compliance challenges as they continue to grapple with multiplying CRS and FATCA (AEOI) related global tax transparency regulations. A year on from our first FATCA and CRS survey, Thomson Reuters and Banking Technology joined forces to survey the industry – to assess the challenges faced by financial institutions […]
Regtech Supplier Performance Report: ignorance is no longer bliss, it’s now criminal offence
The second edition of Regtech Supplier Performance Report, featuring some 50 regtech suppliers, published by Market Fintech Limited and supported by Banking Technology, says that with over 50,000 regulatory documents published across the G20 since 2009, and an average of 45 new documents every week, we must assume that the future of banking will be driven by technological developments.
Socure raises $14m in new funding
In a Series B round led by Commerce Ventures, digital identity verification specialist Socure raised $13.9 million in new funding. The investment, which also featured the participation of Flint Capital, Santander InnoVentures, Synchrony Financial, Two Sigma Ventures, and Workbench, takes Socure’s total funding to $27.5 million.
Hello Soda’s new platform has a pop at dark web fraud
Big data and text analytics firm Hello Soda has launched Fraud Web, a new software solution built to combat identity fraud committed through the untraceable internet. The company says Fraud Web identifies the risk of consumer data being available for sale on the dark web and issues high, medium and low risk alerts so that […]
Belize’s central bank selects Swift to combat financial crime
The Central Bank of Belize has chosen Swift’s Sanctions Screening solution to combat financial crime and put in compliance controls. The bank says: “Implementing the right compliance controls within an organisation is not only a regulatory responsibility, but also a priority for global security.” Juan Martínez, managing director Latin America and the Caribbean, Swift, says […]
