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

The Future of Regulation: 2020 Predictions

04 March 2020 578 downloads

FCA reports a drop in suspicious transactions

The number of suspicious transaction and order reports (STORs) recorded by the UK's Financial Conduct Authority (FCA) has reduced for the first time since records began in 2016

28 February 2020

News/Money Laundering

Euro agencies to develop blockchain forensics

Two defence agencies in Austria and France are joining forces to improve cryptocurrency security and tackle the rising rate of crime in the crypto market.

28 February 2020

Company update/crypto

Globitex boosts AML capabilities with Bitfury Crysta

Globitex, a high-growth fintech serving crypto businesses, has today announced a cooperation with Bitfury Group’s Crystal Blockchain, which provides boosted Anti Money Laundering compliance and security measures to its clients through the Bitfury Crystal™ platform.

26 February 2020

Company update/regulation

New Philippines bank Tonik picks Nice Actimize AML tech

Nice Actimize, a Nice (Nasdaq: NICE) business and the leader in Autonomous Financial Crime Management, has been chosen by Tonik, a leading Southeast Asia pure-play licensed digital bank, to implement its Essentials Anti-Money Laundering solutions and support the development of a secure banking environment for its new customer base.

20 February 2020

Company update/crime

Digital bank Tonik to install Nice Actimize AML tech

NICE Actimize, a NICE (Nasdaq: NICE) business and the leader in Autonomous Financial Crime Management, has been chosen by TONIK, a leading Southeast Asia pure-play licensed digital bank, to implement its Essentials Anti-Money Laundering solutions and support the development of a secure banking environment for its new customer base.

20 February 2020

News/regulation

FCA flags regulatory gaps and IT outages as key areas of focus

In its annual Sector Views report, the UK's Financial Conduct Authority warns of the growing risks to consumers in the retail banking and payments sector, as regulatory protection struggles to keep pace with technology-driven innovation and incumbents grapple with legacy limitations.

19 February 2020

News/payments

Swift gpi transferred $77 trillion in 2019

Almost doubling the $40 trillion transferred in 2018, Swift’s transmission of $77 trillion in cross-border payments messages over the gpi platform during 2019 implies that demand for the programme is becoming entrenched in the bank-to-bank space.

18 February 2020

News/crypto

Wells Fargo invests in crypto monitoring firm Elliptic

Wells Fargo has invested $5 million in Elliptic, a London-based cryptocurrency surveillance technology provider.

13 February 2020

News/regulation

ABN Amro joins $80m Fenergo funding round

ABN Amro has joined an $80 million funding round for Fenergo which values the Dublin-based fintech firm at about $800 million.

12 February 2020

Company update/crime

Westpac faces US class action suit over financial crime disclosure

Westpac today confirmed that Rosen Law Firm has filed a class action lawsuit against Westpac on behalf of purchasers of the securities of Westpac between 11 November 2015 and 19 November 2019 inclusive.

03 February 2020

News/regulation

FS firms hit with $36bn in AML, KYC and sanctions fines since financial crisis

Financial services firms have been hit with a total of $36 billion in fines since the financial crisis for non-compliance with anti-money laundering, know your customer and sanctions regulations around the world.

29 January 2020

Research/Money Laundering

The Future of Cybersecurity: 2020 Predictions

28 January 2020 721 downloads

News/crime

AML penalties skyrocket during 2019, doubling 2018 figures

A record number of AML-related fines were issued globally in 2019, totalling £6.2 billion in financial penalties at an average of $145.33 million per fine.

20 January 2020

Company update/crime

ComplyAdvantage names former Oanda president Vatsa Narasimha as COO and CFO

ComplyAdvantage, the regtech company transforming the compliance industry through data science and machine learning to neutralize the risk of financial crimes, today announced the appointment of Vatsa Narasimha as Chief Operating Officer and Chief Financial Officer.

20 January 2020

Company update/crime

Fiserv provides AML tech to DoIEx

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that DolEx Dollar Express, Inc. and its affiliate, Europhil, will enhance their anti-money laundering (AML) processes with technology from Fiserv.

16 January 2020

Company update/regulation

Gateway selects Know Your Customer for digital onboarding

Gateway Private Markets (HK) Limited ("Gateway"), specialists in direct secondary investments in the world’s foremost growth and late-stage private technology companies, has selected award-winning RegTech provider Know Your Customer to deliver seamless digital onboarding to its clients.

16 January 2020

News/regulation

RBI paves the way for remote customer onboarding

Indian banks and fintech startups have been given the go-ahead to use video calls to complete KYC compliance checks, following a ruling by the country's central bank.

10 January 2020

Research/Money Laundering

Avoiding Improvisation: A 3-Step Guide to Harmonising Electronic Identity Verification

08 January 2020 315 downloads

Company update/regulation

EastWest Banking Corporation selects Wolters Kluwer’s OneSumX for Risk Management

EastWest Banking Corporation (EastWest) is the latest firm to select Wolters Kluwer’s OneSumX for Risk Management to manage its Market Risk and Asset and Liability Management (ALM) requirements.

19 December 2019