FinTech News

Tide acquires Onfolk to enhance payroll services for UK SMEs

Tide acquires Onfolk to enhance payroll services for UK SMEs

Tide, the UK's foremost business financial platform, has announced the acquisition of Onfolk, a specialised payroll solution for UK SMEs.
Small business financial advisory platform Uprise raises $3.3m in seed round

Small business financial advisory platform Uprise raises $3.3m in seed round

Uprise, a San Francisco-based financial advisory platform, has secured $3.3m in its seed funding round. The investment round was led by Blank Ventures. Other participants...
Goldman Sachs joins Financeit’s C$700m securitization warehouse to support Canadian home improvements

Goldman Sachs joins Financeit’s C$700m securitization warehouse to support Canadian home improvements

Financeit Canada, a prominent provider of point-of-sale financing in the sectors of home improvement, recreational vehicles, and retail within Canada, has recently enhanced its Securitization Warehouse facility.
Agrolend raises $53m in Series C to bolster agri-finance in Brazil

Agrolend raises $53m in Series C to bolster agri-finance in Brazil

Agrolend, an agribusiness finance platform, has successfully raised a $53m Series C funding round.
Protostars secures €300k for cutting-edge cybersecurity LLM solutions

Protostars secures €300k for cutting-edge cybersecurity LLM solutions

Protostars, a burgeoning innovator in the field of AI-driven cyber security, has successfully raised €300k.
Morgan Stanley and GI Partners boost Flexential with substantial investment

Morgan Stanley and GI Partners boost Flexential with substantial investment

Flexential, a prominent provider of secure and flexible data centre solutions, has received a strategic investment from Morgan Stanley Infrastructure Partners (MSIP), with ongoing support from GI Partners.
Propel leads $4.3m investment in Akua, enhancing FinTech innovations in LatAm

Propel leads $4.3m investment in Akua, enhancing FinTech innovations in LatAm

Akua, a Latin American-based payment processing platform, has successfully secured a seed investment of $4.3m.
Earnix, the leading global provider of AI-based SaaS solutions for financial services, has partnered with HCLTech to drive transformation in insurance rating and pricing. 

Earnix and HCLTech collaborate to drive transformation in insurance rating and pricing

Earnix, the leading global provider of AI-based SaaS solutions for financial services, has partnered with HCLTech to drive transformation in insurance rating and pricing.  This...

How automation transforms regulatory compliance in finance

In today's evolving regulatory environment, financial institutions are increasingly turning to technology to manage their regulatory lifecycles effectively. According to Ascent, automation is becoming...
Tune Protect Re Limited has teamed up with bolttech Insurance to introduce AirAsia Travel Insurance for travellers flying from Hong Kong.

Tune Protect and bolttech Insurance collaborate to expand travel insurance options for AirAsia

Tune Protect Re Limited has teamed up with bolttech Insurance to introduce AirAsia Travel Insurance for travellers flying from Hong Kong. This initiative is facilitated by...
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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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