FinTech News

Klarna expands payment flexibility with Apple Pay integration in the US and UK

Klarna expands payment flexibility with Apple Pay integration in the US and UK

Klarna, the leader in global payments and an AI-enhanced shopping assistant, has now integrated its payment services into Apple Pay for online and app-based purchases on devices running iOS 18 and iPadOS 18 or later.
DriveWealth enhances broker-dealer integrations for global trading efficiency

DriveWealth enhances broker-dealer integrations for global trading efficiency

DriveWealth, a pioneer in financial technology with its Brokerage-as-a-Service offerings, has unveiled comprehensive integrations with several leading execution management system (EMS) platforms, including Bloomberg...
CIH BANK partners with Backbase to revolutionise digital banking in Morocco

CIH BANK partners with Backbase to revolutionise digital banking in Morocco

CIH BANK, a leading financial institution in Morocco, has entered into a strategic partnership with Backbase, a global leader in Engagement Banking.
Alkami digital banking platform empowers Nutmeg State Financial Credit Union

Alkami digital banking platform empowers Nutmeg State Financial Credit Union

Nutmeg State Financial Credit Union, a community-focused financial institution in Connecticut, has partnered with Alkami Technology, a leading provider of cloud-based digital banking solutions in the U.S.
Manulife and World Economic Forum reward startups shaping the future of longevity

Manulife and World Economic Forum reward startups shaping the future of longevity

Manulife, in collaboration with the World Economic Forum, announced today the winners of the "Prospering in Longevity Challenge" via UpLink, the Forum's open innovation platform, and its Centre for Financial and Monetary Systems.
Kiavi secures $400m in landmark securitization to boost real estate investments

Kiavi secures $400m in landmark securitization to boost real estate investments

Kiavi, a prominent tech-enabled lender specializing in residential real estate investments, recently announced the successful closure of a $400m rated securitization.
cyber

Social engineering emerges as top threat in cyber security landscape

In a landscape increasingly fraught with cyber threats, social engineering attacks are claiming prominence by exploiting human psychology over technological vulnerabilities.
DeNexus

DeNexus secures $17.5m in Series A to bolster cyber risk management

DeNexus, a pioneer in cyber risk management for OT, announced today that it has raised $17.5m in a Series A funding round. This injection...
Nayya, a leading benefits intelligence platform, has announced two key appointments to its executive team.

Nayya strengthens leadership team with two key appointments amid 500% growth in users

Nayya, a leading benefits intelligence platform, has announced two key appointments to its executive team. Sarah Liebel joins the company as its first-ever President and...
Lowell

Tietoevry and Lowell extend their SaaS alliance for enhanced credit management

Lowell has reaffirmed its commitment to Tietoevry Banking by extending its partnership with a three-year contract.
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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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