Sector Updates

BigTech companies have changed customer expectations forever. With customer experiences at the forefront of their operations, consumers now seek the same level of simplicity and personalisation everywhere. Financial institutions have a tough road ahead to match these services, but they can learn from BigTech companies.

Cyberattacks are an ever-increasing threat in the FinTech world and cybersecurity has become a top priority for most large businesses. However, SMEs mistakenly believe in the myth that their risk is low, therefore becoming a prime target for cybercriminals.

The European Banking Authority (EBA) has issued a consultation on the role, tasks and responsibilities of anti-money laundering and counter-terrorism financing officers.

The operations of a Lazio-based Covid-19 vaccination registration system have been brought to a standstill after a cyberattack shut down its system.

Tax software developer ZenLedger has scored $6m in its Series A round, after recording 500% revenue growth in the past year.

A mid-year report by internet security company SonicWall has found the number of ransomware attacks in H1 2021 has already outperformed the entire year of 2020.

Amplify Life Insurance, a provider of permanent life insurance, has collected $2.5m in its seed round.

US payments network Rapyd has secured $300m from a Series E funding round led by Target Global.

Seedata.io, a London-based cybersecurity SaaS startup, raised £640,000 in a pre-seed funding round.

Wapi Pay, based in Singapore and headquartered in Kenya has raised $2.2m in pre-seed funding to scale up global payments and remittances between Africa and Asia.