Regtech & Legaltech

October 28, 2024 @ 7:36 am By Tony Zerucha  |  

Proof, a provider of identity-secured transactions, has launched Verify, a live face-to-face experience that delivers high-level assurance with identity verification performed in the presence of an agent. It claims to reduce the risk of fraudulent activities such as deepfakes by ensuring that users are legitimate…. Read More

October 25, 2024 @ 4:05 pm By Omar Faridi  |  

Socure, the provider of artificial intelligence for digital identity verification, fraud prevention and sanction screening, has signed an agreement to acquire Effectiv, a real-time risk decisioning company, for $136M. The acquisition is expected to close in November of this year. This acquisition pairs Socure’s digital… Read More

October 23, 2024 @ 11:44 am By Omar Faridi  |  

Regtech Jumio explained that its portfolio now covers advanced innovations in biometrics, liveness detection, and anti-spoofing technologies Jumio, the provider of automated, AI-driven identity verification, risk signals and compliance solutions, announced that it reportedly has more than 300 issued patents and patent applications. The strength… Read More

October 23, 2024 @ 7:30 am By Omar Faridi  |  

The number of global banks losing clients to slow and inefficient know your customer (KYC) onboarding practices has surged to a record high this year, according to new research from Fenergo, the provider of solutions for KYC, client lifecycle management (CLM) and transaction monitoring. A… Read More

October 21, 2024 @ 8:22 am By Omar Faridi  |  

Digital asset exchange HashKey Global teams up with Regtech firm Sumsub in an effort to accelerate user onboarding and evolving crypto regulations. Regtech company Sumsub explained in a blog post that they’re working with HashKey Global, a licensed crypto-assets exchange under HashKey Group, in order… Read More

October 15, 2024 @ 5:31 pm By Omar Faridi  |  

This latest collaboration is reportedly designed to streamline the security token issuance process, thus offering issuers as well as investors with an efficient and secure experience. As noted in a blog post, Regtech company Sumsub is pleased to announce a strategic collaboration with Polymath, which… Read More

October 15, 2024 @ 11:40 am By Omar Faridi  |  

Cedric Iggiotti, VP Product, Screening at ThetaRay noted recently that in an era where financial institutions face growing pressure from regulators, Starling Bank’s enforcement action by the UK’s Financial Conduct Authority (FCA) serves as an important reminder: a robust compliance framework isn’t just a regulatory… Read More

October 13, 2024 @ 8:44 pm By Omar Faridi  |  

Fenergo, the provider of AI-powered solutions for Know Your Customer (KYC), Anti-money laundering (AML) transaction monitoring and Client Lifecycle Management (CLM), has announced several key updates including being recognized by Chartis for KYC and being acknowledged for its AI-enhanced digital customer onboarding solutions. In addition… Read More

October 12, 2024 @ 6:19 pm By Omar Faridi  |  

Regtech firm Sumsub has recently unveiled ‘Greenflag,’ described as a digital nation for 627 million people excluded from online services. On World Inclusion Day, Sumsub says millions of individuals are “excluded from essential digital services,” including financial services, education, healthcare, and employment platforms. The research… Read More

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

October 5, 2024 @ 6:20 pm By Omar Faridi  |  

Industry professionals have recently shared their latest guidance on the Travel Rule in a comprehensive online learning session aimed at crypto ad blockchain ecosystem participants. This, according to an update from Regtech Sumsub. Regtech firm Sumsub announces the start of a comprehensive Travel Rule educational… Read More

October 5, 2024 @ 6:18 pm By Omar Faridi  |  

In a move signaling alignment with US regulatory actions, the UK’s Financial Conduct Authority (FCA) is preparing to survey City firms to scrutinize their use of encrypted messaging services such as WhatsApp. Regtech firm SteelEye has shared informative insights to help industry participants with gaining… Read More

October 5, 2024 @ 6:14 pm By Omar Faridi  |  

Utila, an institutional MPC wallet platform, and TRM Labs, a provider of blockchain intelligence, announced a strategic integration to empower institutional clients to integrate AML compliance into their crypto operations workflows, improving risk management capabilities. Via this latest integration, Utila users will reportedly be able… Read More

October 4, 2024 @ 8:40 am By Omar Faridi  |  

Online marketplaces are now considered to be a “prime” target for fraudsters, according to an extensive report shared by Juniper Research. Juniper Research explained that this is because there are different ways of gaining access to sensitive information that is stored online for digital commerce… Read More

September 30, 2024 @ 8:40 am By Omar Faridi  |  

Scila AB, the Stockholm-based independent provider of trade surveillance, risk management and anti-money laundering (AML) technology has announced that Erste Group, a European financial institution, has implemented Scila Surveillance. Scila Surveillance is a trade surveillance cloud-powered solution meant for comprehensive monitoring of trading activities across… Read More

September 28, 2024 @ 10:45 am By Omar Faridi  |  

Trulioo, an identity platform with proven global coverage for person and business verification, announced its partnership expansion with Airwallex, a global payments and financial platform for modern businesses. Since the two joined forces in 2017, Airwallex has integrated Trulioo Identity Document Verification, Business Verification and… Read More

September 28, 2024 @ 10:43 am By Omar Faridi  |  

New World ID has reportedly launched now in Guatemala, Malaysia and Poland come at pivotal moment for AI. As explained in a blog post by WorldCoin, World ID orb verifications have been officially introduced across three new countries this week: Guatemala, Malaysia and Poland. The… Read More

September 25, 2024 @ 6:53 am By Omar Faridi  |  

Circle has recently announced the initial availability of a completely new suite of product, which is being referred to as Compliance Engine, and it is described by the stablecoin issuer as a new service that aims to “help companies build onchain while meeting rigorous demands… Read More

September 23, 2024 @ 3:04 pm By Omar Faridi  |  

Prove is launching the Prove Verified Users solution, a global identity verification solution that gives users peace of mind when interacting on digital marketplaces. Digital platforms can reassure users that they “are interacting with a verified individual, delivered by a trustworthiness indicator such as a… Read More

September 20, 2024 @ 2:56 pm By Omar Faridi  |  

SteelEye, the integrated surveillance provider trusted by financial firms worldwide, has rolled out its Compliance CoPilot tool across trade surveillance. This latest enhancement to SteelEye’s Compliance CoPilot “leverages fine-tuned large language models (LLMs) to complement the role of a compliance officer by providing a full… Read More