Tag: Banks

Across banks and FinTechs in Europe, there is broad agreement on the importance of intelligence sharing to combat financial crime. Yet despite this consensus,...

Continuous, formerly known as SMA Technologies, has acquired Sycorr, a provider of identity and access management software designed for banks and credit unions.

When financial institutions work together, the results can be transformative. That was the clear takeaway from The Great Fraud Showdown, a webinar co-hosted by...

The Comply Exchange Withholding Statement Extractor stands out in the FinTech landscape as an innovative AI-powered solution, transforming the way withholding statements are handled by financial institutions.

Banks are increasingly turning to third-party relationships to tap into new technologies, services, and markets.

South African FinTech, Omnisient, has recently secured a substantial $7.5m investment from Arise.

The Digital Operational Resilience Act (DORA), which took effect on January 16, 2023, is a crucial piece of legislation designed to bolster the digital resilience of the financial sector.

The Financial Conduct Authority (FCA) has recently mandated that financial institutions, including banks, payment firms, and lenders, enhance their protocols to ensure fair treatment of politically exposed persons (PEPs).

In the competitive landscape of banking, customer onboarding emerges as a pivotal phase, with customer due diligence standing at its core. When managed poorly, the onboarding process can deter potential clients, causing banks to miss out on new revenue streams. Conversely, hasty or inaccurate due diligence could lead to the acquisition of customers who pose commercial and reputational risks, potentially incurring hefty regulatory fines.

Fraud in the UK has become a significant concern, with 40% of crimes being fraudulent. Money muling is at the forefront, where fraudsters utilise synthetic or real mule accounts for financial gain. The UK government, recognizing the seriousness, plans to publish an action plan to combat this issue.