FinTech News

Storfund and Mangopay enhance marketplace efficiency with new embedded wallet solution

Storfund and Mangopay enhance marketplace efficiency with new embedded wallet solution

Storfund and Mangopay have further solidified their partnership by introducing an embedded wallet solution designed to streamline payment processes and currency conversion for marketplace sellers.
Herald, a trailblazer in digital insurance infrastructure, has just secured $12m Series A funding round co-led by Lightspeed Venture Partners and Brewer Lane Ventures, with additional participation from Afore Capital and Underscore Venture Capital.

Herald secures $12m Series A funding to enhance insurance connectivity with AI

Herald, a trailblazer in digital insurance infrastructure, has just secured $12m Series A funding round co-led by Lightspeed Venture Partners and Brewer Lane Ventures, with additional participation from Afore Capital and Underscore Venture Capital.
Zafin and Microsoft redefine banking with cutting-edge AI collaboration

Zafin and Microsoft redefine banking with cutting-edge AI collaboration

In a significant move for the banking technology sector, Zafin has announced the expansion of its strategic collaboration with Microsoft, marking a new phase in bank modernisation efforts.
INSHUR secures $19m led by Viola Growth to bolster US and global InsurTech operations

INSHUR secures $19m led by Viola Growth to bolster US and global InsurTech operations

INSHUR, the multi-award-winning embedded insurance provider for the on-demand economy, has recently closed a funding round securing $19m. This round was spearheaded by Viola Growth,...
Zenus and Tuum join forces to democratize global access to US banking services

Zenus and Tuum join forces to democratize global access to US banking services

Zenus Bank, a pioneering entity in Banking-as-a-Service (BaaS), collaborates with Tuum, a next-generation core banking provider. This partnership is set to democratize access to U.S....
ACA Group expands international presence by acquiring Effecta Compliance Group

ACA Group expands international presence by acquiring Effecta Compliance Group

ACA Group, a leader in governance, risk, and compliance (GRC) solutions within the financial services sector, has recently taken a significant step to enhance its international reach by acquiring Effecta Compliance Group.
review

How can businesses achieve a 0.1% manual review rate?

In the ever-evolving landscape of financial compliance, the burden of manual reviews in transaction screening can be overwhelming. To address this challenge, Salv, a pioneer...
Embroker, a digital insurance company, has partnered with Everspan to further digitise and streamline the commercial insurance buying experience.

Embroker and Everspan partner to streamline the commercial insurance buying experience

Embroker, a digital insurance company, has partnered with Everspan to further digitise and streamline the commercial insurance buying experience. As part of the collaboration, Everspan...

Exploring the impact of AI on health outcomes with Tietoevry Care

Public and social care systems across many countries are currently strained, grappling with ageing populations and a parallel increase in the demand for health...
climate

Global insurers commit to climate action with robust transition strategies

A comprehensive survey by BlackRock has unveiled that an overwhelming 99% of insurers have embraced climate transition goals within their investment portfolios, highlighting a...
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