Germany’s BaFin warns Deutsche Bank of potential fines if it doesn’t improve money laundering controls
BaFin has extended its monitoring of Deutsche Bank until 30 October 2024.
BaFin has extended its monitoring of Deutsche Bank until 30 October 2024.
Gupta succeeds Marina Khaustova in the role, who will now shift to the position of COO.
The move, announced in 2020, was expedited by Hey Banco’s banking licence authorisation last July.
The Swiss bank is to replace its legacy system for position and risk management with FM Converge.
Regulators are attempting to deliver first-of-its-kind regulation to bring AI into a more desirable scope.
Our pick of the top fintech news stories this week includes Monese, Virgin Money, Bank of America and more.
Greenlite’s tech will enable the bank to streamline manual data aggregation and client risk assessments.
It’s thought that 57,028 of Bank of America’s customers have been impacted.
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The UK-based fintech says the hire marks its latest effort to “spearhead rapid global expansion”.
The deal joins Fat Zebra’s payments platform with Adatree’s CDR-compliant open data capabilities.
Elliott-Gross has been appointed as Wise’s global director of product compliance this month.
The OCC says the fine relates to “systemic deficiencies” in the bank’s risk management and internal controls.
The bank disabled and removed the Vast Crypto Mobile Banking app from app stores on 31 January.
The RBI attributes its order to “persistent non-compliances and continued material supervisory concerns in the bank”.
The banking group says the partnership will enhance its compliance efficiency.
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Our pick of the top fintech news stories this week includes Lloyds, HSBC, PayPal, Santander and more.
The PRA says the fine is the second-largest issued by the regulator to date.
NSF fees on debit card and ATM transactions will be “unlawful” under the proposed rule.
Informatica says the solution provides an “enterprise-wide, 360-degree view of customers”.
The EBA says it is accepting comments on the proposals via its consultation website until 18 April 2024.
Aibidia says Grabellus will be tasked with globalising its product suite for cross-border business management.
The fintech unicorn previously gained an EMI licence from the central bank of Lithuania in July.
Encompass is to acquire 100% of both ING companies for an undisclosed sum.
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Chang brings 15 years of financial services, fintech and consumer protection experience to her new role.
Moore forms the third addition to the PSR’s executive team this year.
Ncontracts hopes to strengthen its position in the US market and expand its offerings.
The company has appointed Amaresh Mohan, Amanda Ortega and Stephen Cheng to executive roles.
A handy round-up of the recent funding endeavours of fintech companies across Europe.
Delving into the mandates, legal changes and harmonisation efforts in B2B and B2G e-invoicing in Europe.
Camp previously served as head of global treasury management at Wells Fargo.
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The new measures also address “moral hazard issues” in lending and boost certain transaction limits.
The report also covers the current market, credit and compliance risks being faced by FIs.
Sol Zlotchenko and Daniel Zayfman join VersiFi as CPTO and CISO, respectively.
The regulators are accepting feedback and expect to publish final requirements by H2 2024.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FINTRAC says it uncovered three administrative violations by RBC during an examination last year.