Exits

Root launches its IPO with shares priced at $27 each

Root, the parent company of digital car insurance platform Root Insurance, launched its initial public offering and its shares exceeded expectations.

Visa’s acquisition of Plaid could be in jeopardy due to antitrust concerns

Visa bought Plaid in January as part of a $5.3bn deal, but now fears about it creating a monopoly situation could make regulators put a stop to the acquisition.

Wirecard North America sold to Syncapay

Syncapay has announced that it has bought Wirecard North America, marking another page in the story of the collapse of the scandal-ridden former FinTech giant.

Finastra acquires PropTech Doorr

FinTech powerhouse Finastra has acquired Doorr, a provider of cloud-based point-of-sale mortgage application software used by brokers to improve the mortgage experience.

Root Insurance files for IPO

Hot on the heels of Lemonade's IPO this summer, Root has now added its name to the list of InsurTechs going public in 2020.

FinTech sector welcomes Crowdcube and Seedrs merger

Despite some concerns about what it could mean for competition, the FinTech sector is seemingly happy about the announced merger between Crowdcube and Seedrs.

Breaking: Crowdcube and Seedrs to merge

Leading crowdfunding platforms Crowdcube and Seedrs are going to merge in a new deal, creating one of the world’s arguably largest private equity marketplaces.

New SIA and Nexi merger poised

Italy's digital payment scene could've just received a power boost after two native leaders in the sector, Nexi and SIA, inked a memorandum of understanding to merge.

illimity Bank buys 50% of Fabrick’s stake in HYPE Money

illimity Bank and Fabrick have entered an agreement to the shared ownership of open banking platform HYPE Money.

Yandex agreed to buy challenger bank Tinkoff in $5.48bn deal

Having responded to media speculation about an upcoming deal, Tinkoff has revealed that it has inked an agreement with Russian tech giant Yandex to allow the later to buy the neobank in a $5.48bn deal.
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Diverse week for FinTech as $1.1bn raised across 17 deals

Diverse week for FinTech as $1.1bn raised across 17 deals

It was a diverse week for FinTech funding, with deals closing across nine different countries.  There were a total of 17 FinTech funding rounds covered...
Sift enhances fraud insights with new metrics in industry benchmark tool

Sift enhances fraud insights with new metrics in industry benchmark tool

Sift, a leading AI-powered fraud prevention platform, has introduced significant updates to its Fraud Industry Benchmarking Resource (FIBR), a free online tool designed to provide key fraud metrics across various industries, geographies, and timeframes.
Bitsight acquires Cybersixgill in $115m deal to enhance cyber threat intelligence

Bitsight acquires Cybersixgill in $115m deal to enhance cyber threat intelligence

Bitsight, a global leader in cyber risk management, has announced its $115m acquisition of Cybersixgill, a prominent cyber threat intelligence (CTI) provider. This strategic move...
FinCEN issues alert on deepfake fraud schemes targeting financial institutions

FinCEN issues alert on deepfake fraud schemes targeting financial institutions

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a critical alert to assist financial institutions in identifying and addressing fraud schemes involving deepfake media created with generative AI (GenAI) tools.
change communication methods during a verification check.Some identity verification solutions may also flag possible attempts to circumvent verification checks, such as the use of third-party webcam plugins, which can let a customer display previously generated video rather than live video. Use of Deepfake Media in Phishing Attacks and Scams Criminals may also target financial institution customers and employees through sophisticated, GenAI-enabled social engineering attempts in support of other scams and fraud typologies, such as business email compromise (BEC) schemes, spear phishing attacks, elder financial exploitation, romance scams, and virtual currency investment scams.24For example, in family emergency schemes, scammers may use deepfake voices or videos to impersonate a victim’s family member, friend, or other trusted individual.25Similarly, criminals have reportedly used GenAI tools to target companies by impersonating an executive or other trusted employee and then instructing victims to transfer large sums or make payments to accounts ultimately under the scammer’s control.26 Financial Red Flag Indicators of Deepfake Media Abuse FinCEN identified the following red flag indicators to help financial institutions detect, prevent, and report potential suspicious activity related to the use of GenAI tools for illicit purposes.As no single red flag is necessarily indicative of illicit or suspicious activity, financial institutions should consider the surrounding facts and circumstances before determining whether a specific transaction is suspicious or associated with illicit use of GenAI tools. A customer’s photo is internally inconsistent (e.g., shows visual tells of being altered) or is inconsistent with their other identifying information (e.g., a customer’s date of birth indicates that they are much older or younger than the photo would suggest). A customer presents multiple identity documents that are inconsistent with each other.

Folks Finance secures $3.2m in Series A to advance crosschain DeFi solutions

Folks Finance, a DeFi platform specialising in lending, borrowing, and managing digital assets across multiple blockchains, has announced it raised $3.2m in an oversubscribed Series A funding round.
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