Two years on from the FCA’s AML/CTF registration regime, how are firms managing?
Two years on from its introduction, how have cryptoasset firms been navigating the registration process?
Anti-Money Laundering/AML
LSEG acquires digital ID verification data provider Global Data Consortium
GDC is a global provider of identity verification data to support clients with know your customer (KYC) requirements.
Bank of Italy bans N26 from “undertaking operations with new customers” over AML shortcomings
N26 says it takes money laundering “very seriously” and has been scaling up its global AML efforts since last year.
Apollo Fintech taps ThetaRay for Sonar AML monitoring tech
Apollo Fintech will deploy Sonar on its new bank-to-bank payments service Knox Wire.
Medius snaps up US-based invoice payments specialist OnPay
The deal will see Medius open a new corporate office in Q2 2022 in Jacksonville, Florida.
Why is digital customer onboarding so important in banking?
To offer a competitive onboarding process, most banks will need to acquire a new level of technical flexibility.
FinTech Futures: Top five stories of the week – 25 March 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
USAA hit with $140m fine from FinCEN for Bank Secrecy Act violations
USAA admitted to failing to accurately report in a timely manner thousands of suspicious transactions to FinCEN.
Spanish neobank Rebellion Pay taps Sentinels for AML and risk management
Madrid-based Rebellion Pay claims more than 280,000 customers across Spain.
Regtech provider Encompass raises $33m to fuel global growth
There will be “extensive recruitment” at the company’s new offices in New York and Amsterdam.
Payoneer taps cybersecurity firm ThetaRay for AI-powered transaction monitoring
Payoneer will deploy ThetaRay’s Sonar solution from Q2 2022.
GB Bank taps TruNarrative for fraud detection and customer onboarding
GB Bank says the partnership will reduce friction in customer journeys and enhance its risk mitigation.
Digital ID verification start-up OCR Labs expands to North America with $30m funding
OCR Labs has raised $46 million through its combined Series A and B.
Mashreq Bank implements ThetaRay’s transaction monitoring tech for correspondent banking
Mashreq Bank is Israel-based ThetaRay’s first customer in the UAE.
Suffolk Building Society signs for TruNarrative’s regtech
TruNarrative’s technology will digitise mortgage customer onboarding and help prevent financial crime.
Finding illicit financial transactions by ignoring them
Firms can utilise AI and ML to create analysis models that can better detect suspicious activity.
White paper: Anti-money laundering regulations in 2022
A closer look at some of the changes in the AML regulatory landscape in seven countries around the globe.
Nationwide partners ID fintech Jumio for customer onboarding upgrade
Jumio leverages AI, biometrics, machine learning, liveness detection and automation to verify identity.
Financial crime fighter ACAMS acquired by PE firm Wendel for $500m
ACAMS has a global membership base of 90,000+ members in 175 countries.
Open banking fintech Plaid acquires ID verification platform Cognito
The acquisition completes the customer onboarding experience, says Plaid CEO.
Regtech ComplyAdvantage reports record year, makes senior hires
Nabeel Vilcassim joins as chief financial officer (CFO) and Oliver Furniss as chief product officer (CPO).
UK’s Financial Conduct Authority hands out £568m worth of fines in 2021
The scrutiny of large financial services giants formed part of the FCA’s broader strategy.
Trulioo hires product veteran Michael Ramsbacker as its first chief product officer
Ramsbacker will be developing intelligent workflow systems designed to maximise verification rates.
SmartSearch appoints ex-Dow Jones exec as CEO as company founder steps down
SmartSearch founder and CEO John Dobson will be a non-executive director.
Video: fintech news pick of the week – Petal, Unibo, & iProov
Our top pick of news from the world of finance and tech in bitesize video format, every week.
What the FinTech? Podcast | Season Two’s Jailed Buzzwords
We run down all the buzzwords our podcast guests wanted gone from the industry this year.
FCA fines HSBC £64m for failings in its AML processes
The FCA says HSBC’s transaction monitoring systems showed “serious weaknesses” between 2010 and 2018.
Video: fintech news pick of the week – NatWest, Tyme & Uni
Our top pick of news from the world of finance and tech in bitesize video format, every week.
FinTech Futures Jobs: Three great jobs to apply for before Christmas
Exciting open vacancies at Seedrs, Monzo and Klarna. Apply today!
NatWest hit with £264.8m fine from FCA for money laundering failures
The fine includes a 33% discount thanks to the bank’s early guilty plea.
FinTech Futures Jobs: Three exciting roles to apply for this week
Exciting open vacancies at Starling Bank, Funding Circle and Crowdcube. Apply today!
Anti-money laundering regtech Hummingbird secures $30m in Series B round
New funding brings the total raised to date by the start-up to $41.8m.
Regtechs PassFort and kompany acquired by Moody’s Corporation
Both companies will be integrated into Moody’s KYC business within Moody’s Analytics.
ICYMI funding round-up: Chip, Multiverse Computing, Kevin, APLYiD & more
Another collection of funding rounds and raises from all over the world you might have missed.
Aussie ID and fraud prevention platform FrankieOne nets $15m Series A round
Start-up sees investment from Robinhood founder and CEO Vlad Tenev and Monzo founder Tom Blomfield.
Why PostgreSQL meets fintech database demands
How to get the best out of your database and to ensure your PostgreSQL deployment is stable, secure, and performant.
DNB Bank picks Fenergo to provide CLM solutions in multi-year project
Norwegian banking group plans revamp of currently manual processes.
Sibos 2021: Africa has world’s best demographics for financial services, says Standard Bank CEO
Investment and connectivity have created “vast opportunities”, says Sim Tshabalala.
NatWest pleads guilty to £365m money laundering failure
UK bank faces rare criminal proceedings in December.
Coastal Community Bank picks Finzly to modernise payments processes
Coastal Community Bank has more than $2 billion in assets under management.
