Tagged: compliance

Top Crypto and Blockchain Predictions for 2021 and Beyond – Part 2

The blockchain and digital assets space is well-positioned for even more growth and adoption in 2021 by mainstream consumers and institutions. The COVID-19 outbreak has dramatically accelerated the shift towards all-digital platforms and services because it’s no longer considered safe to visit physical business locations…. Read More

Gemini Becomes World’s First Digital Assets Custodian and Exchange to Complete SOC 1 Type 2 and SOC 2 Type 2 Examinations

US-based digital assets exchange Gemini has completed SOC 1 Type 2 and SOC 2 Type 2 examinations. The Gemini team noted in a blog post published on January 19, 2021 that they’ve successfully cleared the SOC 1 Type 2 and SOC 2 Type 2 examinations,… Read More

Regtech Firm Silent Eight to Work with HSBC to Enhance Bank’s Compliance and Related AML / CFT Processes

Singapore-based Silent Eight, a Regtech firm that leverages AI to prevent money laundering and terrorism financing activities, has revealed that it has agreed to a multi-year partnership with HSBC which aims to assist the bank with improving its compliance measures and related operations. HSBC chose… Read More

Binance CEO Predicts that in 2021 Bitcoin (BTC) and Other Digital Assets will Keep Rising and be at “Pinnacle of Positive Change”

Zhao Changpeng

Binance, the world’s largest digital asset exchange, says it remains committed to innovating in 2021 in an increasingly “decentralized” world. Binance CEO Changpeng Zhao or CZ has shared his thoughts and reflections looking back at 2020 and the firm’s goals for the new year. Zhao… Read More

Wolters Kluwer, a Compliance, Finance, Legal, and Tax Solutions Provider, Enhances UX for PPP Funding

Wolters Kluwer, a company providing information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors, has enhanced the end-to-end user experience for the latest Paycheck Protection Program (PPP) funding va TSoftPlus software and the eOriginal platform…. Read More

Singapore’s Regulated Digital Asset Custodian Propine Develops Asset Tokenization, Compliance Solutions on Zilliqa

The team at Singapore-based Propine, a regulated digital asset custodian, notes that 3 months ago, the company was selected by blockchain platform Zilliqa as one of 8 startups to take part in the ZILHive Accelerator program. The Propine team has now confirmed that they managed… Read More

For the First Time, External Global Factors and Not New Local Regulations were Key Drivers of Business Process Changes: Survey

The COVID-19 pandemic has made it quite challenging for financial industry compliance officials who have had to make changes to how they monitor activities, according to a recent Nasdaq survey. Like many other professionals, they’ve had to adapt to the new remote working environment. Nasdaq’s… Read More

German Financial Compliance in E-Commerce Platform Taxdoo Raises $21 Million Through Series A Financing Round Led By Accel

  Taxdoo, a Germany-based automated platform for financial compliance in e-commerce, announced earlier this week it raised $21 million through its Series A funding round, which was led by global venture capital firm Accel with participation from Visionaries Club, 20VC and existing investor HTGF. Founded… Read More

Fintech and Regtech Adoption Takes Major Step Forward in 2020 As Businesses Prepare for Post COVID Environment: Report

  The year 2020 has seen a dramatic shift towards all-digital platforms and services following the COVID-19 outbreak. Many businesses across the globe have accelerated their digital transformation strategies in order to maintain operations in a post-COVID environment. By necessity and also by design, companies… Read More

New AML Compliance Certification Program for Fintechs Launched by ACAMS and FINTRAIL

ACAMS has introduced a certification program for Fintech firms that aim to fulfill regulatory guidelines or requirements in an “evolving” market environment. The new Regtech solution from ACAMS has been developed with assistance from specialist consultancy FINTRAIL. Referred to as the Certified (anti-money laundering) AML… Read More

Former Tencent Exec and Huobi Co-Founder Du Jun Returns, Says Crypto Exchange Remains Focused on Compliance

After a three-year leave, co-founder Du Jun has returned to Huobi, a leading cryptocurrency exchange that reported $877.88 billion in trading volume during H1 2020. Jun had left Tencent and founded Huobi with Leon Li back in 2013. But then a few years later in… Read More

Brussels based Keyrock, a Digital Asset Market Maker, Secures €4.3 Million from SIX Fintech Ventures, Others

Brussels-headquartered Keyrock, a digital asset market maker, has secured €4.3 million in capital through an investment round that was co-led by MiddleGame Ventures and SIX Fintech Ventures, which is a CHF 50 Million corporate VC fund that invests in global early-stage startups. Volta Ventures, Seeder… Read More

Regtech Firm Hummingbird CEO Joe Robinson Explains that Fintechs are Focusing on Front End as Banks Handle Compliance Requirements

Joe Robinson, Co-Founder and CEO at Hummingbird, a modern platform for anti-money laundering (AML) that makes investigations “agile and intelligent,” says that it took some time before traditional banks began to view Fintech firms as legitimate business partners that could help them with their digital… Read More

Enterprise Blockchain based Trade Finance, Food Safety, Medical Records Software Now Managed by Bank and Tech Firm led Consortiums, Nexia TS Explains

Nexia TS, a Singapore-based accounting firm, notes that the use of blockchain or distributed ledger tech (DLT)-based solutions can potentially “improve compliance” and “decrease risks” typically associated with digital transformation processes. DLT-enabled solutions might also improve the overall efficiency of a company’s operations. The Nexia… Read More

Eran Noam From Shield Explains How Natural Language Processing and Financial Context Recognition Help with Business Compliance Processes

Israel based Regtech firm Shield was recently chosen to join the IBM Cloud for Financial Services ecosystem. Many financial institutions have been migrating or deploying new applications on Cloud-powered platforms that streamline routine banking and related business processes. We recently caught up with Eran Noam,… Read More

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

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