Two US fintechs to pay a total of $59m to settle FTC charges related to PPP
Biz2Credit will pay $33 million and Womply will pay $26 million to settle the two separate cases.
Compliance
Optimising compliance in a busy year of reporting rewrites using Rosetta
Exploring the safe, fast and cost-effective regulatory compliance solution the industry has been looking for.
Video: BBVA at FinovateEurope 2024 – Open banking in the EU
Jose Luis Navarro of BBVA discusses the evolution of the open banking landscape in the EU.
JP Morgan Chase hit with $348m in fines related to its trade surveillance programme
The fines were issued by the the Office of the Comptroller of the Currency and the US Federal Reserve.
Video: Taktikal at FinovateEurope 2024 – Onboarding amid ever-changing compliance requirements
We sat down with Tinna Hallbergsdóttir of Taktikal to discuss the firm’s innovative approach to onboarding.
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.
Banking Technology Magazine March 2024 issue out now
Cover story: CREATIVE THINKING – How a borefest could lead to the best ideas.
ICYMI fintech funding round-up: Embat, Slice, NayaOne, MoneyHash and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
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.
FHLBank of Pittsburgh selects SimCorp Dimension for investment management
The bank has signed an eight-year agreement with the vendor for SimCorp Dimension.
Mexican neobank Hey Banco’s split from Banregio due for 2025
The move, announced in 2020, was expedited by Hey Banco’s banking licence authorisation last July.
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.
Digital business bank Grasshopper partners Greenlite for AI-powered due diligence tech
Greenlite’s tech will enable the bank to streamline manual data aggregation and client risk assessments.
Bank of America customers impacted by data breach through Infosys McCamish Systems hack
It’s thought that 57,028 of Bank of America’s customers have been impacted.
Successful AI driven marketing strategies are inextricably linked to high quality data and efficient delivery thereof
Is your data strategy up to the challenge? Learn how artificial intelligence can help you reinvent marketing ops.
RBC’s US subsidiary City National Bank hit with $65m fine from OCC
The OCC says the fine relates to “systemic deficiencies” in the bank’s risk management and internal controls.
Vast Bank exits cryptocurrency market, closes crypto banking mobile app
The bank disabled and removed the Vast Crypto Mobile Banking app from app stores on 31 January.
Banking Technology Magazine February 2024 issue out now
Cover story: PLANT LIFE – Talking flora and quantum computing.
FinTech Futures: Top five news stories of the week – 2 February 2024
Our pick of the top fintech news stories this week includes Lloyds, HSBC, PayPal, Santander and more.
CFPB proposes new laws to stamp out NSF fees for transactions declined in real time
NSF fees on debit card and ATM transactions will be “unlawful” under the proposed rule.
The Philippines’ UnionBank taps Informatica for MDM solution
Informatica says the solution provides an “enterprise-wide, 360-degree view of customers”.
Effective risk management can boost supplier relationships and uncover new providers
Learn how KY3P from S&P Global Market Intelligence can help manage supplier risk and identify new sources of supply.
US neobank Chime appoints Shara Chang as chief compliance officer
Chang brings 15 years of financial services, fintech and consumer protection experience to her new role.
Ncontracts snaps up Quantivate for an undisclosed sum
Ncontracts hopes to strengthen its position in the US market and expand its offerings.
Goldman Sachs reportedly names Paul Camp as new head of transaction banking
Camp previously served as head of global treasury management at Wells Fargo.
Banking Technology Magazine Dec 2023 / Jan 2024 issue out now
Cover story: THE BEST OF BANKING TECH – Winners and pictures from an amazing night.
US OCC highlights key risks to federal banking system in latest report
The report also covers the current market, credit and compliance risks being faced by FIs.
VersiFi hires two senior execs from Hazeltree to boost tech and infrastructure development
Sol Zlotchenko and Daniel Zayfman join VersiFi as CPTO and CISO, respectively.
FinTech Futures: Top five stories of the week – 8 December 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
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.
How Europe’s PSPs are bracing for SEPA instant payments
The European Parliament approved final implementation deadlines for SEPA instant payments on 7 November.
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.
FinTech Futures: Top five stories of the week – 17 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Report: State of verification and monitoring in the crypto industry
Data-driven study into verification practices among crypto businesses: checks, budgets, pass rates.
Block’s Cash App withdraws bid for Irish virtual asset licence
Cash App had been pursuing a VASP licence in the country since 2021.
CFPB targets US fintech firms with proposals for increased regulatory scope
The proposals will target 17 companies who control 88% of the market share.
FinTech Futures: Top five stories of the week – 3 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
