Tagged: compliance

Over 90% of Actual Cryptocurrency related Transactions within a Financial Institution Might Not Even be Detected: Report

Current Financial Crimes Enforcement Network (FinCEN) regulations state that it’s the responsibility of all financial service providers to accurately and promptly identify and report any suspicious or potentially fraudulent activity. This activity may be related to how criminals or bad actors exploit convertible virtual currencies… Read More

Plaid, Twitter, Slack Investor – Spark Capital leads Remote Working Fintech Deel’s $30 Million Series B Round

Remote working Fintech firm Deel has secured $30 million in capital through a Series B investment round. Deel has managed to acquire $44 in funding during 2020 and its services are reportedly used by more than 500 businesses based in 140 different countries. Deel’s most… Read More

Lawcloud Reminds Reg CF Issuers to File Annual Report with SEC

Reg CF continues to grow in popularity as a securities exemption utilized by smaller firms to raise much-needed growth capital. Reg CF is the smallest of the three different crowdfunding exemptions but has perhaps garnered the most popular interest due. An issuer must utilize either… Read More

Omnipresent, a Company Offering Assistance with Payroll, Compliance, Taxes, to Remote Workers, Secures $2 Million in Seed Funding

The Omnipresent Group, which focuses on offering assistance to remote workers, has secured $2 million in seed funding. The company claims that it acquired the funds “within six weeks” of the COVID-19 outbreak, so that it can offer a viable solution to support what it… Read More

Fintech Sector Needs Proper Standards and Policies to Maintain Transparency, Ning Wang from PingPong Payments Recommends

The global Fintech ecosystem is growing steadily. The financial technology sector is projected to reach $460 billion within the next five years. But financial losses due to fraudulent activities have reached $42 billion, globally, during the past two years. The billions of dollars stolen due… Read More

Chainalysis Introduces New Website, Market Intel, which gives Digital Asset Managers and Regulators Access to Meaningful Insight about Crypto Activity

Leading blockchain analysis firm, Chainalysis, which recently secured $49 million in capital through a Series B round, announced on July 27, 2020, that it has launched Market Intel, its newly designed website for asset managers and regulatory agencies. The new site may be used to… Read More

Monero (XMR), Zcash (ZEC), Stellar (XLM) to be Delisted by Liquid Exchange so it can Prepare to Acquire Payment Services License in Singapore

The Electric Coin Company (ECC), which supports the development of Zcash (ZEC), a privacy-oriented cryptocurrency, recently revealed that Liquid will be delisting ZEC along with 28 other digital currencies or tokens because the Japanese crypto trading platform is planning to apply for a license to… Read More

Regtech Firms Lucinity, Hummingbird Secure Millions in Funding, will Further Develop AML Tech to Prevent Financial Crimes

Lucinity, an AML software developer established by a compliance professional who previously worked at Citigroup, has acquired $6.1 million in capital. Meanwhile, Regtech company Hummingbird, which is also an anti-money laundering software developer, has finalized an $8.2 million Series A investment round. Lucinity’s recent round… Read More

Open Banking and Regtech Firm Railsbank Gains Hong Kong Fintech Statrys as New Client

UK-based Railsbank, an Open Banking and Regtech solution provider, revealed on June 29, 2020, that it has gained Hong Kong Fintech Statrys as a new client. Statrys offers digital business accounts, advanced payment options, and forex solutions for SMEs based in Asia. It provides convenient… Read More

P2P Bitcoin Marketplace Paxful Overtakes LocalBitcoins in BTC Trading Volume, Considered One of the Safest Exchanges by Chainalysis

Paxful, a leading and fast-growing peer to peer (P2P) Bitcoin marketplace, recently overtook  LocalBitcoins in weekly global BTC trading volume. Paxful users reportedly traded almost $39.8 million worth of Bitcoin (globally) during the week that ended June 6, 2020. Meanwhile, LocalBitcoins reported around $39.5 million… Read More

Regtech: Blockchain Security Firm CoolBitX Presents Findings of Sygna Bridge’s Production Report to FATF Contact Group

  CoolBitX, a blockchain security firm that’s developing the infrastructure needed to bridge the gap between the mainstream financial market and cryptocurrency sector, recently presented its findings of Sygna Bridge’s production report to Financial Action Task Force (FATF) Contact Group members. As mentioned in a… Read More

Ray Youssef: CEO and Co-founder at Paxful Explains How Company’s Global Bitcoin (BTC) Marketplace Is Enabling Greater Financial Inclusion

Ray Youssef, CEO and co-founder at Paxful, a leading peer to peer (P2P) Bitcoin (BTC) marketplace, recently shared his views and insights with Crowdfund Insider. Paxful says it’s on a mission to support “social justice through financial freedom worldwide.” The company offers a platform with… Read More

Digital IDs: Tokyo-based Mizuho Bank to Test Online Customer Identification System based on Facial Recognition

Tokyo-based Mizuho Bank, the integrated corporate and retail banking division of Mizuho Financial Group (TYO: 8411; NYSE: MFG), the third largest financial services company in Japan, has initiated proof-of-concept (PoC) trials and testing of digital IDs that are based on device location and facial recognition…. Read More

Regtech: AxiomSL, a Regulatory Reporting and Risk Management Firm, Releases New SFTR Software

AxiomSL, an established provider of regulatory reporting and risk management software, has introduced a regime agnostic offering for SFTR (Securities Financing Transactions Regulation). As noted in a release, SFTR provides counterparties with a reliable process for adhering to international reporting obligations. Customers were required to… Read More

Regtech: UK-based Railsbank, an Open Banking and Compliance Firm, Secures Additional Funding from Visa, Global Brain

UK-based Railsbank, an open banking and Regtech solution provider, has secured additional funding with contributions from Visa and Global Brain, a Japanese venture capital firm. In September 2019, Railsbank had acquired $10 million in capital as part of its Series A round. The amount of… Read More

Netherlands-based Wolters Kluwer’s Compliance Program Management Business Introduces Coronavirus Noteworthy Developments Bulletins

Wolters Kluwer’s Compliance Program Management (CPM) business has introduced the Coronavirus Noteworthy Developments Bulletins, which aim to bring together all the global regulatory modifications, orders, notices and various other updates for the financial services sector (as they relate to the deadly COVID-19 outbreak). The newly… Read More

Bitcoin Exchange Paxful Becomes First P2P Crypto Trading Platform to Work with Chainalysis to Enhance Compliance Processes

Chainalysis, a leading blockchain analytics and security company, has teamed up with Paxful, a major peer-to-peer (P2P) digital asset exchange. The partnership involves Chainalysis helping  Paxful with enhancing its compliance and KYC processes. Paxful will reportedly be using Chainalysis’ know your transaction (KYT) and “reactor”… Read More

Regtech: Dublin-based Regulatory Software Developer DX Compliance Solutions to Raise €1.2 Million via Seed Round

Ireland-based DX, a Regtech firm focused on developing compliance software, aims to introduce flexible anti-money laundering (AML) checks and processes for Fintech companies. Simon Dix, a lawyer who previously worked at Germany-based digital bank Fidor Bank, has extensive experience dealing with AML compliance matters in… Read More

Regtech: Taiwan’s CoolBitX, a Blockchain Security Firm, Secures $16.75 Million in Funding via Round Led By SBI Holdings

Asia-based CoolBitX, a leading blockchain or distributed ledger tech (DLT) security firm, has acquired $16.75 million in capital through a Series B investment round from several large investors. CoolBitX’s funding round was led by Japan-based financial services company SBI Holdings. Monex Group, South Korean crypto-asset… Read More

Tim Carmody: CTO at IPC, a Leading Financial Trading and Communications Tech Firm, Explains Role of Natural Language Processing in Finance

We recently caught up with Tim Carmody, Chief Technology Officer of IPC, a global leader in financial trading and communications technology solutions. Carmody, who has several decades of experience in designing and leading complex technology solutions for the trading community, discussed how Wall Street companies… Read More

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