FinTech News

Doc Juicer

How Doc Juicer became the go-to source for fraudulent document templates

Doc Juicer, also known as a template farm on steroids, has made a significant mark in the template industry by amassing a vast catalog of over 18,000 templates across more than 50 categories.
identity

How artificial intelligence is redefining identity verification processes

Identity verification is a critical safeguard in the digital age, serving as a primary defence against fraud and ensuring that only genuine customers access...
Lemon, a Software-as-a-Service (SaaS) finance gateway, has announced the launch of a first-of-its-kind financing product in partnership with Shawbrook Bank.

Lemon and Shawbrook Bank launch first-of-its-kind SaaS financing solution for SMBs

Lemon, a Software-as-a-Service (SaaS) finance gateway, has announced the launch of a first-of-its-kind financing product in partnership with Shawbrook Bank. This collaboration aims to unlock...
European CyberTech funding grew by 28% in H1 2024 with deals over $100m

European CyberTech funding grew by 28% in H1 driven by deals over $100m

European CyberTech investment stats in H1 2024: European CyberTech funding increased by 28% YoY Average deal value for H1 increased to $13.8m driven by...
Pockit, a UK-based FinTech focused on providing financial services to underserved consumers, has announced its acquisition of Monese, a pan-European FinTech with a similar customer base.

Pockit acquires Monese for £15m to strengthen financial inclusion for low-income customers

Pockit, a UK-based FinTech focused on providing financial services to underserved consumers, has announced its acquisition of Monese, a pan-European FinTech with a similar...
Stripe and NVIDIA intensify partnership to boost global AI access and enhance fraud detection capabilities

Stripe and NVIDIA intensify partnership to boost global AI access and enhance fraud detection...

Stripe, a leader in financial infrastructure for businesses, has announced an enhanced collaboration with NVIDIA, a pioneer in AI and accelerated computing, to further develop artificial intelligence capabilities and advance fraud detection for its clients.
Moneybox and GoCardless enhance savings with renewed payment partnership

Moneybox and GoCardless enhance savings with renewed payment partnership

Moneybox, a renowned savings and investing platform, has extended its partnership with GoCardless, a leading bank payment company.
Revolut Business enhances UK merchant payments with American Express partnership

Revolut Business enhances UK merchant payments with American Express partnership

Revolut Business has partnered with American Express to extend payment method options for its UK merchants.
Dynasty Financial Partners secures strategic investment to boost FinTech innovations

Dynasty Financial Partners secures strategic investment to boost FinTech innovations

Dynasty Financial Partners, a prominent player in the FinTech sector, has successfully closed a minority capital raise aimed at accelerating its growth trajectory.
Nada secures $25m from Kawa to expand innovative home equity solutions

Nada secures $25m from Kawa to expand innovative home equity solutions

Nada, a leading FinTech company known for offering homeowners debt-free access to home equity, has recently secured a revolving credit facility of up to $25m from Kawa Capital Management.

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.

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