Sector Updates

A study by LexisNexis Risk Solutions has found anti-money laundering (AML) compliance is costing UK financial institutions £28.7bn and will raise to £30bn by 2023.

Cybersecurity firm SentinelOne has revealed it intends to raise up to $928m on its initial public offering (IPO) as it anticipates an IPO price range of between $26 to $29 per share.

UK open banking platform TrueLayer has launched a new Verification API to make the onboarding process for its customers easier.

Open platform that accelerates collaboration in financial services Finastra has established a new partnership with information and communications technology (ICT) systems integration company Uni Systems to help European financial institutions undergo digital transformation.

Global financial crime risk data and detection technology provider ComplyAdvantage has added Know Your Business (KYB) data to create a unified data graph of individuals and business entities to double down on financial crime risks.

Swiss wealth management company Criptonite Asset Management entered into a partnership with SEC-regulated digital asset investment manager Wave Financial to address the increasing demand from European investors on crypto-related products.

Accenture made a strategic investment, through its VC arm Accenture Ventures, in cloud-based, payments-as-a-service enterprise platform Imburse.

A pilot program by UK micropayments firm Shrap has begun two pilot programs in Essex and Denny, Scotland to trial and test scalable solutions to help keep cash sustainable.

Indonesia-based digital loans and credit platform Kredivo added to the initial $100m debt facility closed in July 2020 to a new total of $200m.

Deutsche Bank and Fiserv have collaborated to create a comprehensive provider of payment acceptance and banking solutions in the German market.