Tagged: compliance

Digital Banking Fintech Revolut Integrates with Elliptic to Expand Cryptocurrency Offering

Digital bank Revolut, one of the fastest-growing Fintechs with over 15 million customers, revealed on May 11, 2021, that it has integrated with Elliptic, a provider of digital asset risk management and blockchain analytics software. This partnership should allow Revolut to expand its cryptocurrency offering…. Read More

Uppsala Security Conducts First Virtual Assets AML Training Program for South Korean Government Agency Compliance Officers

Uppsala Security has reportedly conducted the very first “Virtual Assets AML Training Program” for partners and government agency compliance officers. Uppsala Security, the provider of tools for Crypto Risk Management and Cybersecurity, revealed on May 4, 2021, that it has begun its Virtual Assets AML… Read More

Compliance and Data Analytics Firm SteelEye to Address Market Abuse, Communications Monitoring with Lexicon Tech

Compliance tech and data analytics provider SteelEye plans to address market abuse and communications monitoring with lexicon technology. The new tech can reportedly monitor over 6x as many search terms as a typical lexicon. SteelEye’s product has been developed in a manner that adheres to… Read More

Swiss Wealth Management Group Julius Baer Introduces Digital Advisory Suite for Asian Markets

Swiss wealth management group Julius Baer has introduced its Digital Advisory Suite (DiAS) in Asian markets. The DIAS soluton aims to simplify the regulatory compliance process for relationship managers, allowing them to provide compliant advice to their customers. The suite serves as a “fully-integrated” solution…. Read More

Global Fintech Ibanera Teams Up With CipherTrace to Enhance Cryptocurrency Anti-Money Laundering & Know Your Transaction Compliance Solution

Ibanera, a global fintech, announced on Tuesday it has teamed up with cryptocurrency intelligence company CipherTrace to enhance Ibanera’s cryptocurrency Anti-Money Laundering (AML) and Know Your Transaction (KYT) compliance solution. As previously reported, Ibanera’s platform provides account issuance, cross-border transfers, and currency exchange services to both… Read More

Crypto Intelligence Firm CipherTrace Is Using Chainlink to Help DeFi Apps Follow OFAC Sanctions Requirements

Cryptocurrency intelligence firm CipherTrace is reportedly using Chainlink to release CipherTrace DeFi Compli: a compliance solution enabling decentralized or non-custodial exchanges (DEXs) and other DeFi apps to adhere to the Office of Foreign Assets Control (OFAC) sanctions requirements. As part of its decentralized finance (DeFi)… Read More

Blair Halliday, Head of UK Operations at Digital Assets Firm Gemini, Explains how their Business Reflects Crypto’s Global Reach

Digital assets firm Gemini says that their international footprint “reflects crypto’s global reach.” As the company continues to expand its business operations, they are increasingly supporting “a range of clients around the world,” the Gemini team notes in an April 7, 2021 blog post. The… Read More

Regtech: Compliance Firm Uppsala Security to Create Virtual Asset AML Solution for South Korean Crypto Exchange

Uppsala Security, a provider of tools for Crypto AML, Risk Management, Regulatory Compliance, and Cybersecurity, has revealed they’ve entered into a contract to create a ‘Virtual Asset AML’ solution for the Coin&Coin exchange that “complies with the amendment of the Special Money Act in South… Read More

Elaine Sun, Compliance Director of Digital Assets Firm Huobi Technology, Discusses Importance of Proper Regulations for Crypto

Image courtesy Wikimedia Commons

Elaine Sun, Compliance Director of digital assets firm Huobi Technology, recently noted that the traditional financial infrastructure and the idea or concept of money are “changing before our eyes.” Sun adds that the concept of “store of value” has mostly been associated or tied to… Read More

Financial Infrastructure Developer Banking Circle Reveals it’s Now Fully Cloud based, Shares Other Fintech Industry Updates

The team at Banking Circle, a leading financial infrastructure developer, notes that as the first quarter of 2021 comes to an end, anti-money laundering or AML measures have been “a key focus in the industry.” The company writes in a blog post that following the… Read More

Uppsala Security Receives Financial Sector Development Grant from the Monetary Authority of Singapore

Uppsala Security has revealed that it received a Financial Sector Development Grant from the Monetary Authority of Singapore (MAS). Uppsala Security, an established provider of tools for Crypto AML, Risk Management, Regulatory Compliance, and Cybersecurity confirmed on April 2, 2021, that they were chosen by… Read More

Digital Banking: Co-founder of Germany’s Penta Bank Launches Relio Virtual Banking Solution for Swiss SMEs

Co-founder of Germany-based virtual bank Penta has introduced an initiative, known as Relio, which aims to focus on serving Swiss small and medium-sized businesses (SMEs). Relio has been launched because digital banking platforms that exist today are not meeting the unique requirements of smaller businesses…. Read More

UK Fintech Monavate Acquires £5M in Seed Funding, Now Focused on Rapidly Expanding Operations

UK-based Fintech firm Monavate says it’s focused on rapidly expanding its operations after securing £5 million through a seed funding round. Cambridge-based Monavate offers a “new-to-market” payment solution. The company confirmed in a release that it has managed to acquire funding from a “major” US… Read More

Regulators are As Concerned about Consumer Preference in Debt Collection as Creditors, TrueAccord Exec Reveals

Regulators care “as much about consumer preference in debt collection as creditors,” according to Kelly Knepper-Stephens, Vice President Legal & Compliance at TrueAccord, a Fintech that aims to transform debt collection into “a pathway toward financial health.” Kelly, who’s based in the San Francisco Bay… Read More

Notabene Partners Blockchain Analysis Firm Chainalysis to Bring Scalable Travel Rule Solution to Crypto Businesses

Notabene has teamed up with blockchain analysis firm Chainalysis to bring a “scalable” Travel Rule solution to cryptocurrency-focused businesses. Crypto-related businesses are working consistently to meet updated regulatory guidelines involving counterparty risk. According to a blog post by Chainalysis, the most notable of these requirements… Read More

Banking Circle Survey: 42% of Senior Bankers Say Outdated Tech Is Major Hurdle in Adopting AI to Improve AML Processes

Banking Circle, a financial infrastructure developer, notes that the rapid and widespread digital adoption by banking clients, and the accelerated digitalization across financial services following the COVID-19 outbreak have “expanded the opportunity for fraud.” Criminals are increasingly exploiting “gaps” found between digital solutions or platforms,… Read More

Regtech: Juniper Research Reveals that Safe Digital Onboarding will be Key Focus of Regulatory Tech

Juniper Research recently published a report titled, “The Role of Regtech in a Post-Pandemic World.” Juniper Research notes that during the past few years, the concept of Regtech or regulatory technology has taken on a lot of importance within the financial services sector and in… Read More

Money Laundering via Global Financial System Estimated at Up to $2T Annually, AI Models May Address Issues, Banking Circle Explains

Banking Circle, a financial infrastructure developer, notes that McKinsey has found that around $800 billion to $2 trillion has been laundered annually via the international banking system. Banking Circle reveals that criminals keep using more sophisticated methods to launder funds, which may put the reputations… Read More

CipherTrace Explains how its Traveler Product Assists VASPs with Following Global Travel Rule Regulations

Blockchain security firm CipherTrace notes that its Traveler product has been developed to assist virtual asset service providers or VASPs with adhering to the international “Travel Rule” regulations by securely sharing digital currency transaction details with other “vetted” VASPs. CipherTrace explains that its tools are… Read More

Compliant Security Token Offerings May be Conducted with Binance Smart Chain enabled Digital Identity Solutions from Ontology

Blockchain platform Ontology (ONT) and Binance, the leading digital currency exchange, have a long and established history of cooperation and partnership which has led to many benefits for both sides, “none possibly more important the integration of Ontology’s Decentralized Identity Solution into the Binance Smart… Read More

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