Tag: RegTech

Australia-based Biza.io, which offers Consumer Data Right (CDR) solutions, has reportedly raised $7.5m in its Series A funding round.

UK RegTech firm Aveni.ai has promised to help financial services companies meet new consumer duty regulation with the development of its Aveni Detect product.

Founded in 1991, India-headquartered HCL Technologies is a global technology company that helps enterprises reimagine their businesses for the digital age. The company specializes in key areas, including digital, IoT, cloud, automation, cybersecurity, and analytics, amongst others. With the company increasingly having a presence in the RegTech space, how does it see the sector changing?

Munich-based identity proofing and digital identity provider IDnow has received a €60m debt facility.

Compliance.ai has landed $6m in funding from existing investor Cota Capital and first-time backer JAM FINTOP.

 Sentinels, which helps detect money laundering in real-time, has released a report outlining why real-time transaction monitoring is the next step for compliance functions.

With digital collaboration tools becoming as ingrained to the working world firms need to aware of the compliance risks and upgrade their communication monitoring tools. 

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.