Coinbase hit with $50m fine for “significant” compliance failures
Coinbase has also been ordered to invest an additional $50m into its compliance programme over the next two years.
RegTech
Blockchain compliance firm Securrency appoints Nadine Chakar CEO
Nadine Chakar replaces Sucurrency founder and CEO Dan Doney, who moves to the CTO role.
Finnish crypto firm Coinmotion lands Bank of Spain authorisation
The Bank of Spain has initiated registration for crypto providers as it seeks to clamp down on money laundering.
US agencies outline risks of crypto to banking system
In a year marked by “significant volatility”, the agencies highlight a number of risks banks should consider.
Bankers like us: there’s no stopping us now
Yes yes yes: I wrote a book! It is written, ready, and will be in your hands in the next few weeks.
Caixa Geral de Depósitos taps Wolters Kluwer for regulatory compliance
CGD, Portugal’s largest bank, will leverage the Finance, Risk & Regulatory Reporting (FRR) service from Wolters Kluwer.
Wells Fargo fined $3.7bn for loan, mortgage and deposit mismanagement
Wells Fargo must pay more than $2bn in redress to 16 million affected consumers and a $1.7bn civil penalty.
NetGuardians tapped by Bank of Africa for fraud prevention software
NetGuardians says building out an “anti-fraud culture” is essential to the growth of pan-African banking.
The What the FinTech? podcast | Season three’s jailed buzzwords
We run down all the buzzwords our podcast guests wanted gone from the industry this year.
Webinar: From intuition to intelligence – fraud trends every risk leader must know for 2023
Learn how data can reveal prevalent fraud trends and inform fraud prevention and risk management strategies.
Banking Technology Magazine Dec 2022 / Jan 2023 issue out now
Cover story: THE BEST OF BANKING TECH – Winners and pictures from an amazing night.
Bank of Lithuania taps Regnology for supervisory tech solutions
Regnology will help the central bank transform its data management capabilities and regulatory reporting platform.
PSR outlines APP scam reporting process for banks and building societies
The PSR says APP scams are a “major problem” in the UK with over 95,000 incidents in the first half of 2022.
Santander UK hit with £107.7m FCA fine for AML failures
The regulator says it found “serious and persistent” gaps in the bank’s AML controls.
Drata doubles valuation to $2bn following $200m Series C
The round was led by ICONIQ Growth and GGV Capital with institutional and individual investors participating.
Congratulations to the Banking Tech Awards 2022 winners!
Winners and highly commended of the 23rd annual Banking Tech Awards ceremony.
eBook: Is it time for risk orchestration?
Download this free eBook to learn more about risk orchestration and its application in practice.
Hodge Bank taps LexisNexis to streamline customer onboarding
The Cardiff-based lending and savings provider will deploy LexisNexis’ RiskNarrative platform.
Barclays fined £8.4m by payments regulator for breaking interchange fee rule
The PSR has fined banking heavyweight Barclays £8.4 million for failing to comply with the IFR.
ICYMI fintech funding round-up: Buckzy, FrankieOne and Ejara
A handy round-up of the recent funding endeavours of fintech companies across the globe.
ClearBank taps ThetaRay for cloud-native Sonar AML solution
ClearBank will utilise ThetaRay’s tech for AML monitoring, providing flexibility as it scales.
High-performing teams and trust via vulnerability
Trust is earned and not built overnight. It’s a slow process but a few key actions can speed it up.
From eID wallets to soulbound tokens: future-proofing digital identity
The next five to seven years will usher in a completely new era of digital IDs.
Two suspects arrested in Estonia accused of $575m crypto fraud
Both defendants appeared in court in Tallin and are being held pending extradition to the US.
Featurespace bags funding from US, UK govs to build new financial crime detection solution
Featurespace is developing an AI-powered system to help banks and PSPs detect financial crime.
FCA warns stock trading apps against gamification
The regulator is “concerned about problem behaviours” linked to trading app design.
UBS partners iProov for automated customer biometric ID onboarding
With face verification tech, UBS key4 customers can onboard remotely in five minutes, iProov says.
Why zero trust security is central to operational resilience – and regulatory compliance
Designing systems with a zero trust approach built in must become a fundamental step in the security process.
Railsr taps Featurespace to boost payment fraud and AML protections
Railsr will utilise card and payment fraud prevention and AML solutions through Featurespace’s ARIC hub.
FinTech Futures Jobs: Here’s why it’s important to understand and embrace neurodiversity at work
Check out the vacancies at these firms that support neurodiversity through awareness programmes and hiring processes.
Regnology acquires Belgian regtech b.fine
Regnology CEO says they were attracted to the “strong synergies” between the two companies’ offerings.
Research: Tech blockers 2022 – cutting the costs of AML compliance
Opportunities and barriers on the road to wider adoption of effective AML screening technology.
Iceland’s Arion Bank taps Lucinity to boost AML protection
Lucinity says its AML tech helps banks and fintechs increase their compliance productivity by more than 50%.
Kuda launches in the UK with tell.money’s open banking compliance tech
Kuda says its UK launch “is the first step in its global expansion to serve overseas based Nigerians”.
DFSA fines Bank of Singapore $1.1m citing inadequate AML controls
The regulatory authority also says that the bank acted outside the scope of its DFSA licence.
Blockchain intel firm TRM Labs scores $70m expanded Series B
TRM will use the cash to invest in product development and new hires to meet growing demand for its services.
iBanFirst taps Fenergo for client lifecycle management solution
iBanFirst says Fenergo’s tech will allow it to offer “faster and more effective” digital customer onboarding.
US OCC to establish office of fintech next year
The OCC says it wishes to “bolster its expertise and ability to adapt to a rapidly changing banking landscape”.
FCA kickstarts discussion on Big Tech’s impact on competition
The regulator says Big Tech firms have the potential to change market outcomes quickly.
Finland’s S-Bank taps Worldline for card fraud management solution
The Worldline Fraud Management Suite can detect fraudulent payments before they are even processed.
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