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Anti-Money Laundering/AML
Dudley Building Society taps Jade ThirdEye for transaction monitoring solution
Over one-third of all UK building societies now use Jade ThirdEye’s tech to fight financial crime.
Bank of Valletta taps Resistant AI for fraud prevention solution
The bank will adopt Resistant AI’s Transaction Forensics solution to help detect suspicious transactions.
Swissquote taps NetGuardians for fraud prevention tech
The bank will utilise NetGuardians’ financial crime solutions to tackle growing issues such as APP fraud.
IOUpay goes into voluntary administration over suspected fraud
It took this step due to a “number of outstanding debts” with “no reasonable prospect” of repaying them.
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.
UK regtech Facctum appoints two senior executives
Onkar Inamdar joins as head of engineering and Syam Chintapenta as chief development officer.
Fenergo appoints new CFO and CRO to drive global expansion
Fenergo says the new hires will play a “pivotal role” in driving its global expansion and SaaS strategy.
EU crypto “travel” regulations pass European Parliament vote
MiCA will ensure crypto transfers can be traced and suspicious transactions blocked.
FCA outlines new measures for banks to tackle money laundering via the Post Office
The NECC estimates “hundreds of millions” of pounds are laundered annually using cash deposits at the Post Office.
Leek Building Society taps Jade ThirdEye to enhance AML and CTF controls
Leek Building Society will use Jade ThirdEye’s Customer Screening and Transaction Monitoring SaaS solution.
IFGS 2023: How crisis creates opportunity for fintechs
Funding Circle CEO Lisa Jacobs and Zopa CEO Jaidev Janardana took to the stage at IFGS 2023 in London.
FinTech Futures Jobs: Five of the best fintech career paths, and what you can earn
Explore thousands of open roles on the FinTech Futures Job Board today.
Societe Generale taps Lemonway for B2B marketplace payment services
The French bank plans to offer payment services for large corporates entering the B2B marketplace arena.
UK payments start-up Ryft secures FCA licence
The company raised £1.5 million in a seed funding round last year.
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.
EU drafts crypto transfer rules to fight money laundering
Under the new rules, cryptoasset transfers will have to include information on their source and beneficiary.
Compliance regtech Fourthline secures €50m in fresh funding
Finch Capital increased its stake in the company after having led Fourthline’s previous funding round.
The Co-operative Bank partners Onfido for customer onboarding solution
Onfido’s solution allows The Co-operative to meet regulatory requirements and customer preferences.
Crypto exchange OKX readies for Hong Kong launch
OKX sees “immense potential” in Hong Kong and is committed to building out the local ecosystem.
FCA outlines expectations for payment firms’ customer protections
It says many firms present “an unacceptable risk of harm” to their customers.
CryptoUK calls on FCA to oppose banks banning transfers to crypto exchanges
CryptoUK says banks limiting transactions to crypto platforms is “anti-competitive and disproportionate”.
US, European agencies seize €44m worth of BTC in crypto mixer raid
The law enforcement agencies seized seven terabytes worth of data, consisting of 1909.4 BTC.
Crypto paytech Wirex launches multi-currency card in Australia
With one of the highest levels of crypto adoption in the world, Australia is an “important market” for Wirex.
Noda taps ThetaRay for Sonar AML solution
ThetaRay’s Sonar will help Noda stay up to date with shifting compliance regulations.
ComplyAdvantage names Jim Anning as chief data officer
Anning joins ComplyAdvantage from GoCardless where he was vice president of data.
Tintra taps Temenos to power new bank for emerging markets
Tintra plans to link emerging market clients with global financial opportunities.
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.
German challenger N26 loses its chief risk officer
Thomas Grosse has quit the firm citing personal reasons. A successor has yet to be named.
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.
Tudi taps ThetaRay for transaction monitoring solution
Through the partnership, ThetaRay will provide Tudi its Sonar transaction monitoring solution.
Power to the people: How Zenus Bank aims to democratise access to banking
FinTech Futures sits down for a chat with Mushegh Tovmasyan, founder of Zenus Bank.
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.
FinTech Futures: Top five stories of the week – 24 February 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Banesco USA taps AML RightSource for automated due diligence solution
Banesco will deploy AML RightSource’s Automated EDD (Enhance Due Diligence) solution.
Mizuho International taps SymphonyAI to help fight financial crime
Mizuho will use SymphonyAI Sensa to boost AML protection within its European capital markets division.
Hong Kong proposes tighter rules for digital asset exchanges
The proposed framework will bring virtual assets in line with securities brokers and automated trading venues.
Icelandic neobank Indó taps Lucinity for AML protection
With the partnership, Indó will have access to Lucinity’s transaction monitoring and case manager solutions.
Lithuania’s central bank reportedly investigating Railsr over AML failures
The Telegraph reports that Railsr’s Lithuanian subsidiary is being investigated by the country’s central bank.
Facing the FCA armed with data
Fintechs are finding themselves subject to increasing scrutiny by regulators regarding AML compliance.
