US insurtech start-up Lula raises $35.5m Series B funding
The insurtech previously raised $18 million in its Series A funding round of July 2021.
Compliance
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.
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.
UBS to pay $388m in fines relating to Credit Suisse’s doomed dealings with Archegos
The US Federal Reserve has fined Credit Suisse $269 million, with the UK’s PRA issuing a further $119 million fine.
FinTech Futures: Top five stories of the week – 21 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
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).
Mexico’s CNBV reportedly facing legal action over delays publishing open finance rules
The complaint was filed by a Mexican citizen in June, according to El Economista.
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.
Mbanq’s BaaS offering supports US debut of SME-focused Cheqly
Cheqly’s services include business accounts, physical and virtual Visa cards, ACH payments and wire transfers.
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.
Capital Union Bank taps Avaloq for new online banking platform
The bank’s CEO says Avaloq’s solution will enable its clients to have “even more control over their assets”.
Socure snaps up ID verification start-up Berbix for $70m
Socure has integrated Berbix’s tech to launch its new predictive document verification solution, DocV 3.0.
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.
Nasdaq to acquire software firm Adenza for $10.5bn
The transaction, subject to regulatory approvals, is expected to close within six to nine months.
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”.
Intapp acquires employee compliance software firm Paragon Data Labs
Intapp says the acquisition will augment its risk management and compliance offering.
SEC fines HSBC and Scotia Capital over recordkeeping failures
HSBC Securities and Scotia Capital have agreed to pay penalties of $15 million and $7.5 million respectively.
NYAG proposes new legislation to strengthen crypto regulation and protect investors
The proposed bill aims to increase transparency, eliminate conflicts of interest and protect victims of fraud.
Crypto exchange Bittrex files for bankruptcy protection in the US
The move comes just weeks after the firm announced it would be shutting down operations in the US.
Stripe unveils embeddable fiat-to-crypto onramp for Web3 businesses
The onramp has built-in fraud tools and identity verification to meet KYC and compliance requirements.
Mastercard rolls out Crypto Credential service to strengthen trust in blockchain ecosystem
Mastercard Crypto Credential defines verification standards, instilling “critical” trust in blockchain tech.
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.
Intellect launches new open finance-based core banking platform, eMACH.ai
Intellect claims its new cloud-based platform is the largest of its kind in the world, offering 1,214 API connections.
White paper: Solve hybrid work compliance challenges with Theta Lake and RingCentral
RingCentral and Theta Lake’s collaboration on hybrid work compliance enables firms to avoid “blind spots”.
White paper: Ensuring compliant communications in financial services
How unified communications platforms facilitate compliance, collaboration, and engagement.
FinTech Futures: Top five stories of the week – 14 April 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Very Good Security names former Visa exec Chuck Yu as CEO
At Visa, Yu led teams across the business, including business development, sales, finance, and operations.
Webinar: How to power risk decisions faster than the competition
Hear from Allica Bank and tbi bank on mitigate risk, grow revenue, and improve the banking experience.
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.
LSEG’s Giact to use Mastercard’s open banking tech for account verification
Through the partnership, Giact says it will be able to deploy Nacha-compliant account verification solutions.
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.
US regtech Droit lands $23m Series B funding
The round was led by Pivot Investment Partners and UBS via its venture arm UBS Next.
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.
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.
How fintechs can prepare for Dodd-Frank Section 1071 with compliance automation
Learn how to be ready for any and all consequences once the 1071 regulations hit.
Canada’s securities regulator tightens rules for crypto exchanges
The CSA has laid out enhanced investor protection commitments it expects from exchanges operating in Canada.
