Exits

Lemonade’s shares soared more than 138% in its first day of trading publicly

InsurTech Lemonade has started trading after a much anticipated initial public offering (IPO) and the debut has so far proven a hit.

Why it matters that InsurTech unicorn Lemonade has raised the price range for its...

A lot of InsurTech stakeholders are watching Lemonade's upcoming initial public offering (IPO) with great interest, so they have no doubt noted that its upcoming listing will be more expensive than expected.

Mastercard to acquire open banking FinTech Finicity in $825m deal

North American FinTech Finicity is being sold to Mastercard in a $825m deal, with the payments giant planning to leverage the acquisition to further its push into open banking.

Cloud-banking nCino has filed for an IPO

Cloud-banking scaleup nCino has filed a Form S-1 at the U.S. Securities and Exchange Commission, thus officially kicking off the process to go public.

FinTech Black Knight has revealed the pricing of its public offering

Software and data analytics FinTech Black Knight has announced the pricing of the previously announced underwritten public offering.

What does Lemonade’s upcoming IPO mean for the rest of the InsurTech industry?

Last week it was revealed that InsurTech scaleup Lemonade is planning to go public, but the question is what it will mean for its...

Lemonade releases IPO filing with $100m target

Online insurance company Lemonade postponed its initial public offering (IPO) last year after WeWork’s attempt imploded, but now it seems like the InsurTech has changed its mind.

Western Union reportedly looking to acquire MoneyGram

American money transfer firm Western Union has reportedly made an offer for fellow remittance company MoneyGram International.

Three ways the coronavirus could change RegTech

From: RegTech Analyst The COVID-19 pandemic has presented the RegTech community with both challenges and opportunities. It’s easy to see how society has changed over...

The coronavirus represents a “return to chaos” that could benefit FinTech companies

COVID-19 has plunged financial markets into chaos, but the pandemic also represents both challenges and opportunities for FinTech companies as they adjust to a whole new reality.
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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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