Tag: RegTech

It is no secret that regulators around the world are becoming increasingly tougher on financial services companies. There is an unrelenting level of regulation being drafted and fines are hitting eyewatering sums. A report from Finbold pegged fines for non-compliance with AML, KYC and data privacy regulations at a total of €12bn in 2020.

Last year saw a 109% increase in identity fraud cases, according to a new report from payment intelligence company Fraugster.

The UK Government has introduced legislation to ‘enhance the competitiveness of the UK financial services sector’ to Parliament.

A German citizen is suing the European Commission for transferring of citizens’ data from of the Commission’s websites to the US – a data protection law originally created by the EC.

Dot Compliance, a ready-to-use compliance platform, has bagged $23m for its Series B round, which was led by Israel Growth Partners.

Australia-based Cover-More Group, which offers global travel insurance assistance, has leveraged Dubber’s call recording technology for auditing, compliance and legal purposes.

A recent study by Ripple has found that over 70% of respondents across five global regions believe central bank digital currencies (CBDCs) could deliver major social change in the next five years.

The CEO of the Financial Conduct Authority (FCA) has underlined that the regulator is investing heavily in data and technology to be more proactive against threats.

With customer journey’s predominantly digitised in the modern day, companies are always looking for new ways to stand out. Key to standing out is how a company collaborates with its customers.

RegTech solution developer Novatus Advisory has collected £4m in an investment from UK-based venture firm Maven Capital Partners.