FinTech News

Cyera

Cyera expands AI data security reach with $162m acquisition of Trail Security

Cyera, an AI-powered data security firm, has completed the acquisition of Trail Security, a data loss prevention firm, for $162m.
Indian FinTech deals drop 43% YoY as larger investments take priority

Indian FinTech deal activity dropped by 43% in H1 YoY as investors focus on...

Key Indian FinTech investment stats in H1 2024: Indian FinTech deal activity decreased by 43% YoY Average deal size increased from $12.7m to $16m...

Pivot Payables enhances B2B payments with new American Express Sync integration

Pivot Payables, a leading FinTech firm specializing in corporate financial operations solutions, has announced a groundbreaking integration with American Express. This collaboration marks a significant...
Worldline expands European presence with new account-to-account payment method

Worldline expands European presence with new account-to-account payment method

Worldline, a prominent player in the payment services sector, has recently unveiled its latest offering, “Bank Transfer by Worldline”.
OneDegree Global collaborates with DB to launch Korea's first cloud-based microinsurance platform

OneDegree Global collaborates with DB to launch Korea’s first cloud-based microinsurance platform

OneDegree Global, a trailblazer in digital insurance solutions, and DB Inc., have come together to innovate in the rapidly evolving insurance industry.
Kalepa's AI copilot set to propel Bishop Street underwriters into future of InsurTech

Kalepa’s AI copilot set to propel Bishop Street underwriters into future of InsurTech

Bishop Street Underwriters, owned by RedBird Capital Partners, collaborates with InsurTech pioneer Kalepa to leverage innovative AI technologies for enhancing underwriting decisions.

Quiet week for FinTech deals with only 13 recorded

Despite $736m being raised across all funding rounds recorded by FinTech Global this week, there were only 13 key deals reported. The leading funding...
Akur8 and ICPEI partner to revolutionise insurance pricing in Canada

Akur8 and ICPEI partner to revolutionise insurance pricing in Canada

Akur8, a next-generation insurance pricing and reserving platform powered by Transparent AI, has partnered with the Insurance Company of Prince Edward Island (ICPEI), a leading provider of personal and business insurance across Canada.
Why DevSecOps is essential for securing Agile and DevOps environments

Why DevSecOps is essential for securing Agile and DevOps environments

Security remains a critical concern within the software industry. Since 2000, a staggering number of individuals—over 3.5 billion—have had their personal data compromised due to security breaches. The complexity and breadth of software applications today only widen the potential for vulnerabilities, highlighting the urgency for robust security measures.
Revolutionize your WealthTech platform with ByAllAccounts' Tax Lot Data feature

Revolutionize your WealthTech platform with ByAllAccounts’ Tax Lot Data feature

ByAllAccounts is transforming the landscape of WealthTech with the introduction of its open and closed tax lots data.

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.

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