Fenergo, the provider of AI-powered solutions for Know Your Customer (KYC), Anti-money laundering (AML) transaction monitoring and Client Lifecycle Management (CLM), announces that it has joined forces with PwC to accelerate the delivery of Fenergo’s solutions to financial institutions. The collaboration will combine PwC’s financial… Read More
Backbase, the global enabler of Engagement Banking, announces a partnership with Feedzai, the provider of financial intelligence solutions, aiming to empower banks to tackle the growing challenge of digital fraud while “maintaining seamless customer experiences.” The collab integrates Feedzai’s Digital Trust solutions with Backbase’s Engagement… Read More
Regtech ThetaRay will work with IDB Bank, a subsidiary of Israel Discount Bank LTD, to combat financial crime. IDB Bank is an FDIC-insured commercial bank based in New York with offices in California, Florida, and the tri-state area. ThetaRay uses cognitive AI to combat financial… Read More
The Central Bank of Ireland has launched its first “innovation sandbox programme,” introducing seven private-sector ventures focused on tackling financial crime. The initiative provides a controlled environment for testing new technologies, enhancing collaboration between the central bank and the fintech sector, and advancing solutions to… Read More
The following information was provided by Patrick Skjennum, the co-founder and CTO of anti-money laundering company Strise 1. Evolving sanctions evasion tactics will drive advanced AML capabilities As criminal networks increasingly leverage decentralized finance platforms, unregulated cryptocurrencies, digital twins and synthetic identities to evade sanctions,… Read More
The Financial Services Regulatory Authority of ADGM (FSRA) has signed a Memorandum of Understanding (MOU) with the UAE Ministry of Interior, to enhance coordination in combating financial crime related to virtual assets. The agreement aims to facilitate the exchange of information, strengthen risk mitigation frameworks,… Read More
ThetaRay, a provider of AI-powered financial crime detection technology, announced the deployment of its new GenAI Financial Crime Detection Suite through a collaboration with Microsoft. By integrating Microsoft Azure OpenAI Service, ThetaRay cited such benefits as enhanced risk assessment, operational efficiency, and better reporting of… Read More
FinCrime Dynamics reports that it secured seed funding to improve financial crime prevention processes with AI and synthetic data. More than 3 million cases of fraud are reported in the UK every year, shockingly it accounts for “nearly 40% of all reported crime.” To tackle… Read More
Themis, a global firm that’s focused on financial crime prevention, announces the official launch of Tathabbat. This reportedly marks an important step in Saudi Arabia’s fast-growing compliance landscape, aligning with Vision 2030 as well as the Middle Eastern nation’s ongoing push to adopt innovative Know-Your-Finance… Read More
European Regtech Salv announced the launch of its Collaborative Scenario Library, a tool designed to help AML teams improve their transaction and customer monitoring in order to catch more financial crime. The Collaborative Scenario Library, which is a feature of the Salv Monitoring solution, is… Read More
Feedzai, the RiskOps platform for financial risk management, in partnership with the Global Anti-Scam Alliance (GASA), releases the 2024 Global State of Scams Report. The study reveals scams have siphoned off US$1.03 trillion globally over the past year, with US victims seeing the “largest impact… Read More
Criminals appear to be reverting to old-school tactics but with certain new twists, according to payments company Visa’s (NYSE: V) State of Scams Report. The latest Visa Threats Report highlights “emerging” scams targeting consumers, merchants and financial institutions. Ahead of Money20/20 US, Visa, a global… Read More
This week, Strise, an anti-money laundering (AML) automation company, launched The AML Megaminds Report, a resource featuring insights from more than 80 financial crime experts. It includes tidbits from more than 60 hours of conversations from The Laundry, a money laundering podcast. The report uses… Read More
Feedzai, a provider of risk management and fraud prevention solutions, and PwC, a global consulting firm, have joined forces to establish a Center of Excellence (CoE) dedicated to fighting financial crime. This partnership enhances the delivery of solutions to financial institutions, enabling them to protect… Read More
Hummingbird, a provider of financial crime risk management solutions, has acquired LogicLoop, a no-code data integration and automation platform, in a move aimed at transforming how financial institutions handle risk and compliance. The acquisition is part of Hummingbird’s broader strategy to become the core operating… Read More
Oracle announced Oracle Financial Crime and Compliance (FCCM) Management Monitor Cloud Service. With the new solution banks, fintechs, and other financial services companies can “gain a holistic, centralized view of their FCCM efforts, enabling them to identify potential issues faster and, proactively manage risk to… Read More
KYC/KYB (Know Your Customer/ Know Your Business) systems is a rapidly evolving area of technology which must compensate for the constant increase in volume and complexity of online financial crime. This, according to an extensive report from Juniper Research. Juniper Research explains the role of… Read More
TRON, Tether, and TRM Labs have announced they will be joining forces to establish the T3 Financial Crime Unit (T3 FCU), described as a first-of-its-kind initiative aimed at facilitating public-private collaboration to combat illicit activity associated with the use of USDT on the TRON blockchain…. Read More
The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has issued new regulations mandating that banks and other financial institutions report significant incidents related to money laundering, terrorism financing, and proliferation financing within 24 hours. The directive, outlined in a circular signed… Read More
Feedzai, a provider of financial crime and risk management solutions, announced results for its 2024 fiscal year, delivering a strong combination of revenue growth acceleration and positive free cash flow margins. Business expansion was highlighted by “the expansion of Feedzai’s behavioral biometrics business, which grew… Read More
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