Tagged: compliance

November 7, 2024 @ 5:56 pm By Omar Faridi  |  

Jumio’s identity verification solutions helping global social media company streamline KYC, improve conversions and meet regulatory requirements Jumio, the provider of automated, AI-driven identity verification, risk signals and compliance solutions, announced its partnership with Riley Cillian to streamline eKYC for the social media platform’s video… Read More

November 7, 2024 @ 8:57 am By Omar Faridi  |  

Boerse Stuttgart Digital, the infrastructure provider for cryptocurrencies and digital assets in Europe, partners with Fenergo, a firm focused on AI-powered KYC, client lifecycle management, and transaction monitoring solutions. Through this partnership, Boerse Stuttgart Digital embraces the next wave of growth in Europe’s crypto market… Read More

October 23, 2024 @ 7:30 am By Omar Faridi  |  

The number of global banks losing clients to slow and inefficient know your customer (KYC) onboarding practices has surged to a record high this year, according to new research from Fenergo, the provider of solutions for KYC, client lifecycle management (CLM) and transaction monitoring. A… Read More

October 16, 2024 @ 9:28 pm By Omar Faridi  |  

Fintech firm Plaid has recently launched its Gateway Partner Program in order to drive open banking compliance. Plaid’s blog post noted that the financial services industry is preparing for the release of the final Section 1033 rule mandating that financial institutions provide consumers with “secure… Read More

October 15, 2024 @ 11:40 am By Omar Faridi  |  

Cedric Iggiotti, VP Product, Screening at ThetaRay noted recently that in an era where financial institutions face growing pressure from regulators, Starling Bank’s enforcement action by the UK’s Financial Conduct Authority (FCA) serves as an important reminder: a robust compliance framework isn’t just a regulatory… Read More

October 15, 2024 @ 9:11 am By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) has fined TSB Bank plc (TSB) £10.9 million over the “treatment” of customers in financial difficulty. The FCA leveled the penalty on the bank for allegedly failing to ensure customers in arrears were “treated fairly.” The FCA further noted that… Read More

October 5, 2024 @ 6:18 pm By Omar Faridi  |  

In a move signaling alignment with US regulatory actions, the UK’s Financial Conduct Authority (FCA) is preparing to survey City firms to scrutinize their use of encrypted messaging services such as WhatsApp. Regtech firm SteelEye has shared informative insights to help industry participants with gaining… Read More

October 3, 2024 @ 10:57 pm By Omar Faridi  |  

Starling Bank confirms that it fully accepts the findings set out in the Final Notice published today by the Financial Conduct Authority (FCA). This reportedly resolves the investigation referred to in Starling Bank’s annual report in June 2024. Starling notes in a release that it… Read More

September 20, 2024 @ 7:59 am By Omar Faridi  |  

FloQast announced the results of Exploring Strategic Compliance: The Next Frontier, the company’s latest research initiative aimed at shedding light on the trends and challenges facing compliance teams. The survey reveals that 47% of compliance professionals are “focused on simply finding a better, easier way… Read More

September 16, 2024 @ 5:36 pm By Omar Faridi  |  

At SteelEye, they claim to understand the critical importance of maintaining operational resilience and ensuring the security of their systems and services. SteelEye says they are are committed to safeguarding “both their operations and client data from potential risks and disruptions.” In alignment with the… Read More

September 14, 2024 @ 12:58 pm By Omar Faridi  |  

Asset Reality, the global authority on asset seizure, management, and disposal, and Taxbit, the enabler of financial digital asset compliance solutions for enterprises and the public sector, are pleased to announce a new strategic partnership. The collaboration will provide government agencies with “expertise and an… Read More

September 9, 2024 @ 8:11 am By Omar Faridi  |  

Sedric AI, the compliance-dedicated AI platform for financial institutions, announced it has closed a $18.5 million Series A funding round to further its efforts to transform compliance operations across the industry. The latest funding round, led by Foundation Capital with participation “from Amex Ventures, brings… Read More

September 7, 2024 @ 10:33 am By Omar Faridi  |  

Grath, a global platform for financial services and regulatory compliance technology, is expanding its presence into the Middle East with the opening of a new office in the prestigious Dubai International Finance Centre (DIFC). This expansion is said to mark a significant milestone in Grath’s… Read More

September 4, 2024 @ 1:44 pm By Omar Faridi  |  

Taxbit, the digital asset tax and accounting platform, announced its comprehensive support for the 1099-DA form, a crucial step toward ensuring compliance with the newly released US Treasury and IRS Digital Asset Broker Regulations. This represents an important step towards digital asset tax compliance, as… Read More

September 4, 2024 @ 9:45 am By Omar Faridi  |  

Lloyds Bank has teamed up with Cleareye.ai, an artificial intelligence platform, leveraging AI to enhance the processing and compliance checking of trade finance documentation to enable efficiencies for customers. The innovative tech will use optical character recognition, machine learning and natural language processing algorithms in… Read More

August 26, 2024 @ 10:24 am By Omar Faridi  |  

Uppsala Security, a provider of tools and services for crypto AML/CTF, transaction risk management, regulatory compliance, transaction tracking, and cybersecurity, is pleased to announce a partnership with Ozys, a blockchain technology company, with the goal of strengthening the security of the Web3 ecosystem. Ozys is… Read More

August 20, 2024 @ 10:43 pm By Omar Faridi  |  

Unit21, a global risk and compliance leader that proactively mitigates risks tied to fraud, money laundering, and other financial crimes, announced a new bundle of features for Automated Clearing House (ACH) transactions. These features use Generative AI (GenAI) and machine learning (ML) to “help banks,… Read More

August 18, 2024 @ 5:00 pm By Omar Faridi  |  

Moody’s and Elliptic, key players in global compliance and third-party risk management and digital asset risk management respectively, have announced a strategic alliance to revolutionize virtual asset service provider (VASP) screening through the seamless integration of on-chain blockchain data with traditional off-chain data sources. In… Read More

August 16, 2024 @ 10:17 am By Omar Faridi  |  

Fenergo, the provider of digital solutions for know your customer (KYC), transaction monitoring and client lifecycle management (CLM), released its half-year annual findings on global financial institution enforcement actions, revealing a 31% surge in the value of fines issued in H1 2024 compared to H1… Read More

August 16, 2024 @ 7:55 am By Omar Faridi  |  

Binance has reportedly achieved its 19th global regulatory milestone with registration in India. As part of their ongoing efforts to uphold regulatory standards, Binance says it is pleased to announce that firm has “registered as a reporting entity with India’s Financial Intelligence Unit (FIU).” This… Read More