Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

Company update/crypto

CoinPayments pick Sumsub KYC tech

The world’s largest cryptocurrency payments processor, CoinPayments, today announces its collaboration with Sumsub, an identity verification platform that provides an all-in-one technical and legal toolkit for KYC/KYB/AML needs.

22 September 2020

News/crime

FinCen leaks throw doubt on banks' AML efforts

A remarkable leak detailing 17 years' worth of confidential transaction reporting has cast doubt on banks' anti-money laundering (AML) efforts by suggesting that leading banks continued to transfer money even when they knew it could be connected to fraud.

21 September 2020

Company update/crime

Rackspace and M1 Finance collaborate on fraud detection

Rackspace Technology™ (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, today announced it brought expanded Amazon Web Services (AWS) capabilities to M1 Finance, a Chicago-based online financial services company.

21 September 2020

Company update/crime

Nasdaq launches AML investigation technology

Today Nasdaq (Nasdaq: NDAQ) announced the launch of the cloud-deployed Nasdaq Automated Investigator for AML, the first automated solution for investigating anti-money laundering (AML) for retail and commercial banks and other financial institutions.

16 September 2020

News/crime

Fintech bids for Wirecard's Aus and NZ businesses

The break-up of the various international businesses of disgraced payments processing company Wirecard continues after it emerged that Australian payments firm Change Financial is set to buy its Australian and New Zealand businesses for $7.8m.

14 September 2020

News/payments

Visa faces EU scrutiny over digital wallet licencing rules

The European Commission has opened a preliminary investigation into Visa's rules regarding staged digital wallets.

07 September 2020

Company update/regulation

Online Payment Platform selects Slimmer AI to meet compliance regulations

Online Payment Platform, a leading payment service provider for platforms and marketplaces, and Slimmer AI announce a partnership to meet the evolving local and international compliance regulation.

01 September 2020

News/regulation

PRA challenges business models of new banks in consultation paper

In a recent consultation paper, the Prudential Regulation Authority (PRA) set out its proposed approach to the supervision of both new and growing non-system UK banks.

24 August 2020

Company update/identity

Contemi integrates with GBG identity verification suite

Contemi Solutions, a global fintech provider, today announced that it has partnered with GBG, a global specialist in Identity Data Intelligence, to fully integrate its client Onboarding solution with GBG’s Identity Verification solution for automated KYC, AML and customer verification capabilities.

18 August 2020

Company update/crypto

Elliptic extends Binance partnership

Elliptic, the global leader in cryptoasset risk management solutions, today announced that it will now monitor Binance Chain and its native cryptoasset BNB, which averages USD 250 million in daily trading volume.

18 August 2020

News/crypto

US seizes bitcoin linked to terror groups

US authorities have seized millions of dollars in cryptocurrency linked to online terrorist financing campaigns involving Hamas, al-Qaeda and ISIS.

13 August 2020

Company update/crime

Financial crime: Banks being attacked on all fronts

It’s not just cyber technologies or digital currencies that are worrying financial crime teams in financial institutions across the UK & Ireland. It’s also the increasing volume and variety of more established financial crimes that aren’t new, but are incredibly hard to detect, such as mule activity; the proceeds of trafficking; the abuse of corporate structure and the criminal use of third parties.

13 August 2020

News/crime

Bank AML fine values in 2020 already outstripping 2019

The world's banks are continuing to struggle in their obligations to combat financial crime, with AML fine values in 2020 already surpassing 2019 as firms are repeatedly sanctioned for the same failings, according to a study by Duff & Phelps

10 August 2020

News/regulation

Regtech kompany raises €6 million

Business verification and KYC regtech kompany has raised almost €6 million in a funding round led by Fairway Global Investment together with Global Brain.

05 August 2020

News/regulation

ComplyAdvantage raises $50m for financial crime platform

AI-based financial crime detection startup ComplyAdvantage has closed a $50 million Series C funding round to fuel its international expansion plans.

28 July 2020

News/people

Westpac hires new IT head

Australian bank Westpac has appointed former ANZ technology chief Scott Collary to lead the consolidation of its technology and operations division.

28 July 2020

News/regulation

AML startups Lucinity and Hummingbird raise funds

Lucinity, an anti-money laundering software startup founded by a former Citigroup compliance tech expert, has raised $6.1 million in funding. Separately, another AML outfit, Hummingbird RegTech, has closed a $8.2 million Series A round.

17 July 2020

Company update/crime

SmartSearch breaks into US market

Leading UK anti-money-laundering (AML) firm SmartSearch is today launching operations in the USA.

14 July 2020

Research/Money Laundering

Onboarding next steps for new and established Digital Banks

14 July 2020 838 downloads

Company update/regulation

European Commission censures Austria, Belgium and the Netherlands for AML failings

The European Commission has today referred Austria, Belgium and the Netherlands to the Court of Justice of the European Union, with a request for financial sanctions, for failing to fully implement the 4th Anti-Money Laundering Directive (AMLD4) into their national law.

03 July 2020