AML

The financial market is global and constantly dealing with new technologies and weighed down with ever-expanding regulations. So where does that leave the future of RegTech?

FinTech Fenergo has unveiled a new cloud-based remote account opening solution ahead of schedule in order to assist US small businesses in accessing PPP emergency loans.

The total value of fines issued so far in 2020 against companies failing to comply with anti-money laundering and know your customer rules totalled $5.6bn, with APAC regulators dramatically increasing their sanctions.

Following the release of the FinCEN Files in September, RegTech Sigma Reporting shows how old risk ratings on financial crime are often static and out of date.

Latin American ventures, Iron Man-backed enterprises and buy now pay later startups among the big winners of the 29 FinTech funding rounds reported on last week.

Innovations in anti-money laundering (AML) are leading to many businesses reenvisioning how they approach compliance. As financial institutions welcome modern technologies to better adhere to regulations, they realise other benefits from automating their AML practices, says QuantaVerse Founder David McLaughlin.

Payments services provider Ping Payments has chosen transaction monitoring and client risk management platform Sentinels to reinforce its AML controls.

Face biometric verification and authentication technology developer iProov has partnered with AI-powered computer vision software provider Microblink.

Refine Intelligence has announced a successful $13m seed funding round that is set enable them to transform Anti-Money Laundering (AML). 

Alternative credit scoring FinTech CredoLab has signed a partnership with iovation, the reputation insights company specializing in device-based fraud detection, to fight credit fraud.