Regtech & Legaltech

December 26, 2023 @ 8:43 am By Omar Faridi  |  

Digital identity company Yoti has received £12.5 million debt funding from HSBC, and a further £7.5 million convertible debt funding from existing shareholders. The £20 million funding will “support the continued growth of the company through to achieving profitability and beyond.” This funding round follows… Read More

December 24, 2023 @ 7:58 pm By Omar Faridi  |  

TaxBit, the provider of compliance solutions for digital assets, announced the launch of its CESOP Compliance Platform, catering to crypto exchanges operating in the EU. This solution addresses the upcoming CESOP compliance requirements set “to commence in Q1 2024, underscoring TaxBit‘s dedication to upholding tax… Read More

December 24, 2023 @ 12:53 pm By Omar Faridi  |  

Socure, the provider of artificial intelligence for digital identity verification, sanction screening, and fraud prevention, announced that it has eliminated 204,536 synthetic identities from the U.S. economy in 2023 to date. The company’s Sigma Synthetic Fraud solution has reportedly “prevented more than $3 billion in… Read More

December 23, 2023 @ 11:14 am By Omar Faridi  |  

Effective January 1, 2024, virtually all new companies being incorporated in the United States will need to “comply with the Corporate Transparency Act (CTA),” the team at Carta noted. As explained in a blog post by Carta, this new law will “require them to submit… Read More

December 22, 2023 @ 9:21 am By Michael Wong  |  

LawFi, a mobile-first digital lending and payments platform for the legal profession, has announced raising $1.5 million in its pre-Seed funding round. The round, which will help finance the startup’s expansion, was backed by investment firm Capital Q Ventures and its fund CAPQ BDC. LawFi… Read More

December 20, 2023 @ 11:42 am By Omar Faridi  |  

Trulioo, an identity platform with proven global coverage for person and business verification, announced a “significant” increase in the adoption of its platform in the past year. The company, which opened a new international headquarters in Vancouver this year, also earned industry recognition “following the… Read More

December 20, 2023 @ 7:11 am By Omar Faridi  |  

SlowMist are pleased to announce a strategic partnership with zkMe, a “significant” advancement in their commitment to blockchain compliance and privacy. As a key entity in on-chain analytics, MistTrack’s role in “detecting and preventing cryptocurrency money laundering is vital.” Their platform offers comprehensive tools “including… Read More

December 17, 2023 @ 10:40 pm By Omar Faridi  |  

ION Analytics, a global provider of personalized predictive data and market intelligence to advisers, banks, investors, law firms, and corporate organizations, announces that St. James’s Place (SJP) has “selected ION-owned Backstop Solutions’ Research Management Software (RMS) to support its fund due diligence process.” Backstop Solutions’… Read More

December 17, 2023 @ 5:17 pm By Omar Faridi  |  

Sumsub has joined the Singapore FinTech Association (SFA). This collaboration signifies Sumsub’s dedication “to driving innovation, fostering key industry connections, and contributing to the vibrant FinTech landscape in Singapore, as well as the wider APAC market following the establishment of its regional headquarters in Singapore… Read More

December 15, 2023 @ 3:23 am By Omar Faridi  |  

Fenergo, the provider of digital solutions for Know Your Customer (KYC), Transaction Monitoring and Client Lifecycle Management, announces that Netherlands-based commercial bank NIBC is deploying its software-as-a-solution (SaaS) technology to enhance KYC operations. NIBC – which serves clients internationally with a focus on Europe –… Read More

December 14, 2023 @ 9:27 pm By Omar Faridi  |  

UAE-based legaltech Clara announced its acquisition of BOTH Corporate Services Limited (BCS), a provider of corporate services in Abu Dhabi Global Market (ADGM). This deal is a key milestone for Clara as it initiates “an acquisition strategy to expand its customer base and extend its… Read More

December 14, 2023 @ 4:22 pm By Omar Faridi  |  

Cytora, the AI digital risk processing platform and Vespia, a provider of compliance data, is proud to announce Vespia’s AI powered risk analytics are now being used to enhance the underwriting process seamlessly within Cytora’s digital risk processing platform, “providing commercial insurance underwriters with deeper… Read More

December 14, 2023 @ 8:45 am By Omar Faridi  |  

Regtech Salv, with its suite of tools to help banks and service companies fight financial crime, has raised €3.9m in new funding, “bringing its capital raised this year to €7.9m and total funding to €12.1m.” The round includes investments “from new and existing investors and… Read More

December 13, 2023 @ 4:08 pm By JD Alois  |  

KingsCrowd, a data and analytics provider in the investment crowdfunding sector, has announced the acquisition of Lawcloud. Lawcloud has been a longtime entry in the Legaltech sector of crowdfunding by providing a partially automated service for issuers to file their required documents to the Securities… Read More

December 13, 2023 @ 9:23 am By Omar Faridi  |  

Elliptic, the global firm focused on crypto-asset risk management, announced a partnership with The Ascent Group, an independent global fund administrator. The Singaporean company will leverage Elliptic’s real-time wallet transaction screening capability, which is “supported by Elliptic’s cross-chain and cross-asset Holistic Screening technology.” This suite… Read More

December 13, 2023 @ 8:38 am By Omar Faridi  |  

Onfido’s technology automates identity verification, “reducing onboarding time from days to minutes.” Onfido, the global enabler of automated identity verification, announced a partnership with InbestMe, a digital investment platform offering personalised investment strategies, to automate their onboarding process. With Onfido’s AI technology, InbestMe can now… Read More

December 12, 2023 @ 11:33 pm By Omar Faridi  |  

The top-5 identity fraud types in 2023 are: AI-powered fraud, money muling networks, fake IDs, account takeovers and forced verification. This, according to an update from Sumsub. Sumsub recently released its third annual Identity Fraud Report of the year. The report provides a comprehensive analysis… Read More

December 11, 2023 @ 6:44 pm By Omar Faridi  |  

Experian announced NeuroID’s behavioral analytics is now available through Experian’s fraud prevention solutions, including CrossCore and Precise ID. NeuroID’s unique behavioral analytics solution “provides robust, frictionless fraud prevention capabilities that can effectively combat identity theft, deter fraud ring attacks and protect against AI-enabled bots while… Read More

December 8, 2023 @ 8:50 am By Omar Faridi  |  

Airwallex shared data on the impact of a new generative AI tool that enhances the speed and efficacy of its “Know your Customer” (KYC) and onboarding processes. The new tool reduces ‘false positives’ by 50 percent “on average, while boosting the number of customers that… Read More

December 5, 2023 @ 8:44 am By Omar Faridi  |  

The pan-European Fintech Fourthline selected as Qonto’s technology solution in the verification of customer compliance during onboarding (KYC) in France, Spain and Italy. Fourthline is a European fintech founded in 2017 that “has developed a technology suite enabling financial services providers to carry out KYC… Read More