How financial institutions can modernise onboarding with smarter KYC and KYB
Client onboarding is a critical first step in understanding who financial institutions are doing business with and assessing potential risks. This know your client (KYC) process helps firms meet anti-money laundering (AML), counter-terrorist financing (CTF), and broader compliance requirements, while also preventing fraud.
New York crackdown targets illegal FinTech payday lending operations
New York Attorney General Letitia James has filed lawsuits against FinTech firms MoneyLion and DailyPay, accusing them of preying on hourly workers across the state with illegal, high-interest payday loans.
AI security firm Pillar raises $9m to secure the future of enterprise software
Pillar Security, a US-based startup specialising in AI-native cybersecurity solutions for enterprises, has announced the close of a $9m seed funding round.
Credit unions must embed compliance in tech onboarding to reduce risk
In today’s fast-moving workplace, many employees are familiar with the surprise of a new software platform suddenly appearing on their screens—often with little to no prior warning or consultation. While well-intended, these abrupt technology rollouts can lead to unintended disruption, especially when key users are left out of the decision-making process.
Scaling Consumer Duty success with digital tools and deterministic models
Since its official launch in July 2023, the Financial Conduct Authority’s (FCA) Consumer Duty has become a cornerstone of UK financial services regulation. Designed...
AI security platform Virtue AI raises $30m to advance GenAI safety
e AI has secured $30m in funding to accelerate its mission to enable safe, secure, and compliant deployment of generative AI technologies.
Software supply chain security firm NetRise secures $10m Series A round
NetRise, a cybersecurity firm specialising in software supply chain risk management, has secured $10m in Series A funding to enhance its visibility and threat detection capabilities across software ecosystems.
From audit trails to accountability: how traceability transforms compliance
In today’s rapidly shifting regulatory landscape, firms are under mounting pressure to shift from reactive to proactive compliance. The days of treating compliance as...
Raising AML thresholds won’t stop financial crime – here’s what will
Recent lobbying from large US banks has ignited a heated public debate over an unlikely flashpoint: anti-money laundering reporting thresholds.
Net-Zero Banking Alliance evolves to support banks amid rising climate reporting demands
The Net-Zero Banking Alliance (NZBA), a leading global initiative aimed at aligning banking activity with the Paris Agreement climate goals, has confirmed that its members have voted overwhelmingly to renew its mandate with a sharpened focus on real economy decarbonisation.
