October 7, 2024 @ 9:09 am By Omar Faridi  |  

Starling Bank‘s recent £29 million fine shows the true cost of “cutting corners” on digital ID verification, according to Regtech and Fintech industry professionals. As reported just last week, this past Wednesday 2nd October, the UK’s challenger bank Starling had been fined nearly £30 million… Read More

 Tagged insights, regtech, regulatory technology, starling bank, sumsub

October 7, 2024 @ 8:45 am By Omar Faridi  |  

Backbase, the creator of the Engagement Banking Platform, marked the recent opening of its global headquarters at Oosterdoksstraat 114 in Amsterdam. According to the engagement banking Fintech firm, this move is more than just a change of address; it represents another significant step forward in… Read More

 Tagged amsterdam, backbase, digital banking, engagement banking, europe, fintech adoption

October 6, 2024 @ 2:46 pm By Omar Faridi  |  

NatWest Group has announced a progress update on its ambition to provide £5 billion in new lending to the UK social housing sector, with the bank confirming £2.8 billion has been provided up to 31 August 2024. As explained in the update from UK’s NatWest… Read More

 Tagged lending, natwest, natwest group, uk, united kingdom

October 6, 2024 @ 2:44 pm By Tony Zerucha  |  

As the UK retailers gear up for this year’s Black Friday shopping spree, two of the country’s biggest e-commerce brands reveal how they are tackling the growing problem of customer dishonesty. Fashion retailer River Island and ticketing service Trainline are partnering with fraud prevention platform… Read More

 Tagged fraud, Grant Shipway, martin sweeney, Nick Aiken, ravelin, River Island, Trainline

October 6, 2024 @ 2:39 pm By Michael Wong  |  

Singapore’s Inter-Ministerial Committee (IMC) unveiled a comprehensive report, outlining enhanced strategies and recommendations to strengthen the nation’s Anti-Money Laundering (AML) framework. The report emphasizes a whole-of-society approach, urging collaboration between frontline stakeholders and the government to combat increasingly sophisticated money laundering (ML) tactics. The IMC’s… Read More

 Tagged anti money laundering, singapore

October 6, 2024 @ 2:38 pm By Omar Faridi  |  

Bank of America (NYSE: BAC), a global enabler of commercial cards, has recently announced that it expanded its Virtual Payables capabilities in EMEA with the launch of Virtual Payables Direct. The B2B payment solution provides buyers with the usual working capital advantages of a card transaction… Read More

 Tagged bank of america, emea, payments, virtual payables

October 6, 2024 @ 2:32 pm By Michael Wong  |  

SBI Holdings Inc., a prominent Tokyo-based financial services conglomerate, has acquired a stake in UBX, a key player in digital transformation within the Philippines. This strategic investment aims to foster collaboration between the two firms to develop impactful digital solutions tailored to the specific needs… Read More

 Tagged fintech, Philippines, sbi holdings, ubx

October 6, 2024 @ 2:24 pm By Omar Faridi  |  

Mastercard (NYSE: MA) announced recently that it has launched various new benefits in support of small businesses operating across Canada. Curated new cardholder benefits provide savings on products and solutions tailored to meet the requirements of Canadian business owners. In order to to acknowledge Small… Read More

 Tagged canada, digital transformation, digitalization, mastercard, small businesses, smbs, sme's

October 6, 2024 @ 2:23 pm By Omar Faridi  |  

Canada has reportedly reached $11.9 trillion in total retail payment transactions with 21.7 billion transactions in 2023, which is up six per cent year-over-year. This, according to an update shared by Payments Canada. The report from Payments Canada noted that virtual or online payments represented… Read More

 Tagged canada, digital payments, insights, payments canada, research

October 6, 2024 @ 2:04 pm By Omar Faridi  |  

Nubank (NYSE: NU), which claims to be one the largest digital banking platforms outside of Asia, announces the expansion of Nu Limite Garantido, which is described as a feature that enables clients to increase their credit card limit. Gradually, the eligible customer base is reportedly being… Read More

 Tagged brazil, credit cards, digital banking, government bonds, latam, nubank