FinTech News

New partnership elevates Wealthtime's capabilities with Wipro and GBST technology

New partnership elevates Wealthtime’s capabilities with Wipro and GBST technology

Wealthtime, a prominent adviser-focused platform business, has initiated a strategic partnership with Wipro, a global leader in technology services and consulting, and GBST, its global technology partner.

Finix secures $75m in Series C to enhance no-code payment solutions for businesses

Finix, a leading full-stack payment processor, has successfully closed a $75m Series C funding round.

Interface.ai raises funds to revolutionize banking with Agentic AI solutions

Interface.ai, the preeminent provider of agentic AI solutions tailored for community banks and credit unions, has announced a notable achievement in securing a new round of funding.
Valon secures $100m in Series C to transform the mortgage industry

Valon secures $100m in Series C to transform the mortgage industry

Valon, a trailblazer in mortgage technology, has successfully secured $100m in a Series C funding round.
WISeKey secures $30m in convertible notes to bolster cybersecurity innovations

WISeKey secures $30m in convertible notes to bolster cybersecurity innovations

WISeKey, a Swiss-based leader in cybersecurity, digital identity, and Internet of Things (IoT) innovations, today announced a substantial financial milestone.
WestView Capital Partners backs CardFlight with significant minority investment

WestView Capital Partners backs CardFlight with significant minority investment

CardFlight, a leading SaaS payment technology company, recently announced a significant minority investment from WestView Capital Partners, a Boston-based growth equity firm.
Monark Markets secures $2.2m in seed funding to revolutionise private market access

Monark Markets secures $2.2m in seed funding to revolutionise private market access

Monark Markets, which specialises in integrating private market investments and trading solutions into traditional brokerage and wealth platforms, has raised $2.2m.
governance

How AI strategy and governance differ from traditional business models

AI strategy and governance are integral parts of broader business frameworks, adapting traditional models to include principles essential for deploying AI. According to 4CRisk.ai,...

Overcoming client onboarding challenges in banking with CDI

Banks continually face significant hurdles in onboarding clients, a process often marred by inefficiencies and regulatory complexities.
Chubb, a global leader in property and casualty insurance, has appointed Tim Benson as its new executive vice president, multinational insurance leader, effective October 30.

Chubb strengthens multinational insurance division with new hire

Chubb, a global leader in property and casualty insurance, has appointed Tim Benson as its new executive vice president, multinational insurance leader, effective October...
Load more

Latest Analysis

News Stories

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.
© FinTech Global © Copyright 2024. All rights reserved.

Technology partner
Advanced Vision IT

120,000+ FinTech leaders get exclusive industry stories delivered every week

Download the free AIFinTech100 report

FREE

Download the AIFinTech100 report for 2024 with details on each solution