Sector Updates

The European Commission has announced the creation of a new EU authority to fight money laundering, as part of a series of proposals to combat rising fraud threats.

Spain-headquartered InsurTech company asistensi has reportedly collected ?8.9m in a funding round, which was led by 468 Capital.

AuthenticID, an identity proofing solution, has secured $100m in a minority investment from Long Ridge Equity Partners.

Financial crime prevention costs UK financial institutions an average of £374k every year, according to new research from global legal company, DWF.

Fly Now Pay Later, FinTech which offers shoppers a more flexible way to finance travel, has partnered with ChargeAfter, the global network of personalised buy now pay later (BNPL) and point-of-sale financing for merchants.

Last week proved to be profitable in terms of FinTech investment, with the rounds revealing the state of cryptocurrency and InsurTech sectors.

Amazon and AO.com’s credit card provider NewDay has launched a new fully digital credit card aiming to provide an alternative to rivals like Apple Pay and Google Pay.

The European Banking Authority has launched a public consultation on its proposed changes to regulatory technical standards (RTS) for identification of shadow banking entities for reporting large exposures.

Nium, a global B2B payments platform, has raised over $200m in a Series D round led by Riverwood Capital to accelerate its product roadmap and drive global expansion.

British digital bank Starling has acquired specialist buy-to-let mortgage lender Fleet Mortgages in a £50m cash and share deal.