Tagged: compliance

March 31, 2021 @ 7:45 am By Omar Faridi  |  

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

March 26, 2021 @ 10:17 pm By Omar Faridi  |  

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

March 20, 2021 @ 7:37 pm By Omar Faridi  |  

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

March 19, 2021 @ 7:24 am By Omar Faridi  |  

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

March 17, 2021 @ 7:33 pm By Omar Faridi  |  

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

March 15, 2021 @ 10:45 pm By Omar Faridi  |  

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

March 12, 2021 @ 12:03 pm By Omar Faridi  |  

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

February 23, 2021 @ 10:51 pm By Omar Faridi  |  

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

February 19, 2021 @ 5:49 pm By Omar Faridi  |  

Accuity and LexisNexis Risk Solutions have confirmed that they’re planning to merge their business operations. Accuity will reportedly become a part of the LexisNexis Risk Solutions Group which currently operates in over 100 different countries. Both companies are a part of RELX, a multinational provider… Read More

February 18, 2021 @ 8:09 pm By Omar Faridi  |  

Blockchain platforms Qtum and Blockpass have teamed up in order to deliver on-chain (or blockchain-based) Know-Your-Customer (KYC) services. As part of the agreement, Qtum will be providing subsidies to “specific” members looking to achieve regulatory compliance through Blockpass’s On-chain KYC solutions. Adam Vaziri, CEO at… Read More

February 7, 2021 @ 5:53 pm By Omar Faridi  |  

Chintai, which offers digital asset technology for capital markets, recently explained why it’s important to know about “geo-fencing” when engaging with regulated crypto-assets and related products and services. Chintai claims that EOSIO software, which powers major blockchains such as EOS,  and ProFi (or programmable finance,… Read More

January 30, 2021 @ 7:14 pm By Omar Faridi  |  

AllianceBlock, the first “globally compliant” decentralized capital market, has entered into an agreement to join the London Stock Exchange Group’s (LSEG) Partner Platform. According to a release shared with CI, the Partner Platform will provide institutional members “the ability to have direct market access” to… Read More

January 29, 2021 @ 9:05 pm By Omar Faridi  |  

The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) has reportedly reviewed and approved the applicable guidelines for virtual asset service providers (VASP) and other entities that facilitate financial services by using VASPs (also referred to as cryptocurrencies). The new guidelines have updated the… Read More

January 25, 2021 @ 10:43 am By Omar Faridi  |  

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

January 20, 2021 @ 5:14 pm By Omar Faridi  |  

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

January 6, 2021 @ 9:04 pm By Omar Faridi  |  

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

January 2, 2021 @ 3:28 pm By Omar Faridi  |  

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

December 31, 2020 @ 4:40 pm By Omar Faridi  |  

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

December 17, 2020 @ 11:09 pm By Omar Faridi  |  

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

December 17, 2020 @ 9:39 pm By Omar Faridi  |  

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