FinTech News

The UK's top financial market watchdog has punished the London branch of Commerzbank with a £37,805,400 fine for failing to set up strong anti-money laundering (AML) measures.

Car insurer Geico faces a potential $5.2m payout to a woman who is claiming she contracted a sexually transmitted infection whilst having sex in the car of a man insured by the company. The claim has prompted Tesla’s Elon Musk to call for legal action against law firms pursuing such “crazy” claims.

Kofax, a supplier of intelligent automation software for digital workflow transformation, has acquired Tungsten for an undisclosed fee.

Financial services organizations just got another way to beef up their protection against online application fraud as Emailage, the online fraud prevention and email risk assessment company, has signed a partnership with Featurespace, the risk detection and fraud prevention company.

Global financial Institution ING is set to sell 85% of its FinTech subsidiary Cobase to to Alpha Group.

Axle Payments, a financial enablement platform for the freight and logistics industry, has rebranded to Denim. Alongside this, it closed its Series B on $126m.

A U.S. federal court has overruled recent Missouri regulations designed to restrict financial advisors from integrating ESG factors into their investment strategies.

Mobile money management platform Bankin' has closed a new equity financing round on €20m to boost development.

Mangopay, the renowned platform-specific payment infrastructure provider, and Spryker, the leading composable commerce platform for advanced B2B Commerce, Enterprise Marketplaces, and Thing Commerce use cases, have declared their strategic alliance.

Nationwide Building Society has started issuing ‘dot and notch’ embossed and recycled bank cards for its blind customers.