Tag: financial institutions

Velotix, a pioneering provider of an AI-driven data security platform, has announced a significant investment from Barclays Bank and Capri Ventures.

On 23 April 2024, the Organization for Economic Co-operation and Development (OECD) published a pivotal update, listing jurisdictions newly committed to the Automatic Exchange of Information (AEoI) and CRS Reporting. Taina Tech, which offers a fully automated FARCA and CRS validation platform, has recently commented on what these changes mean. 

AI is increasingly becoming a focal point of discussion, particularly in how compliance departments within financial institutions prepare to adopt AI technologies for client screening and align with necessary regulatory standards.

On 16 April 2024, Chrystia Freeland, deputy prime minister and federal finance minister, unveiled the Canadian Federal Budget for 2024-2025. This budget introduces pivotal tax measures, particularly focusing on the implementation of the Crypto-Asset Reporting Framework (CARF) and modifications to the Common Reporting Standard (CRS), which are set to be enforced from 2026. 

In the complex world of finance, due diligence is essential for protecting a company’s reputation and financial well-being. As customer demands for convenience increase and regulatory scrutiny intensifies, finding a balance is more important than ever. The solution lies in an innovative tool—KYC Portal Customer Lifecycle Management (CLM). The RegTech company recently compiled a guide on its role in enhancing due diligence processes.

From the 24th April 2024, the financial markets will experience a significant shift with the application of the revised EMIR Refit (regulatory fitness and performance programme) rules, an integral component of the European Commission's “Better Regulation” agenda.

In the rapidly evolving global finance sector, the importance of complying with regulatory frameworks like the Common Reporting Standard (CRS) and the Foreign Account Tax Compliance Act (FATCA) cannot be overstated.

Global Screening Services (GSS), headquartered in London, has announced a fresh infusion of $47m.

In the dynamic landscape of anti-money laundering (AML) efforts, financial institutions are facing intensified scrutiny to stay a step ahead of increasingly sophisticated criminal tactics and rigorous regulatory demands.

Global Screening Services (GSS), a forefront runner in the RegTech industry, has successfully completed its Series A2 funding round, securing over $47m (£37m).