Industry News

AI and AFC: Embracing the new era in financial crime prevention Whether you're just stepping into the world of AI or you're familiar with its intricacies, Resistant AI & Fintrail invite you to dive deep into understanding how AI is poised to redefine the future of financial crime prevention.

As we delve deeper into 2024, the embedded finance phenomenon continues to reshape the financial services sector. A Capgemini survey from 2021 revealed that over 70% of banking executives view embedded finance as a catalyst for innovation, customer base expansion, and cost reduction, predicting its market value to soar to $588bn by 2030 from $22bn in 2020. This trend positions embedded finance as a key strategic channel for banks.

In an era where regulatory oversight of the wealth and asset management sector is intensifying globally, the stakes for compliance have never been higher. This sector, pivotal to national economies, plays a crucial role in helping consumers manage their assets and achieve their financial goals. However, its significance also makes it a potential target for misuse by malicious entities aiming to launder money.

LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, and PYMNTS Intelligence have partnered to shed light on the financial challenges faced by US consumers.

Standard Chartered has partnered with global payments platform Tazapay to deliver “seamless payments” for cross border e-commerce.

pKYC, or proactive Know Your Customer, is an innovative approach that initiates real-time reviews as changes in a client's KYC profile are detected.

Inscribe, a fraud detection and document automation platform, has recently scored $25m in Series B funding.  

The European Banking Authority (EBA) has published a new set of indicators aimed at identifying potential causes of consumer harm.

Wayhome, a gradual homeownership provider, has scored £8m in a Series A funding round headed by Allianz X.

A recent survey by SmartSearch, a leader in UK digital compliance solutions, has unveiled a startling trend among regulated firms.