ClearScore acquires Aro Finance to boost embedded finance and secured lending

January 7, 2025

The ClearScore Group, a leading global FinTech and data-driven financial marketplace, has announced its acquisition of Aro Finance.

JeelPay secures $6.6m to grow BNPL platform for tuition financing

January 7, 2025

Saudi BNPL company JeelPay, a specialist in education-focused financing solutions, has successfully raised SAR 25m ($6.6m) in a Pre-Series A investment round.

Litigation FinTech Sandfield Capital secures £600m facility for expansion

December 18, 2024

Sandfield Capital, a Liverpool-based litigation FinTech company specialising in loans for legal claims, has secured a £600m facility from Perspective Investments.

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

November 15, 2024

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.

Groov secures £1.5m seed funding to advance embedded lending platform for SMEs

November 8, 2024

Groov, an embedded lending platform, has announced the completion of its £1.5m seed funding round.

Enhancing MSME support in Southeast Asia: Funding Societies lands $100m from HSBC

November 5, 2024

Funding Societies, Southeast Asia's largest digital finance platform for micro, small and medium enterprises (MSMEs), announced a new milestone today with the signing of its third credit facility under the HSBC ASEAN Growth Fund.

Finfra secures $2.5m to boost embedded lending for Indonesian SMEs

October 30, 2024

Finfra, an Indonesian lending-as-a-service infrastructure provider, has successfully secured $2.5m in a funding round led by Cento Ventures.

PowerPay secures $60m in corporate bond funding to accelerate FinTech growth

October 30, 2024

PowerPay, a leader in digital point-of-sale lending for home improvement and patient financing, has successfully secured a $60m investment through a corporate bond issuance.

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

October 22, 2024

Agrolend, an agribusiness finance platform, has successfully raised a $53m Series C funding round.

Sharegain and DriveWealth team up to revolutionise securities lending for online brokers

October 21, 2024

Sharegain, a leading securities lending FinTech, and DriveWealth, a prominent financial technology platform known for its Brokerage-as-a-Service offerings, have recently unveiled a strategic partnership aimed at expanding opportunities within the securities lending market globally.