RegTech

Despite the pandemic being the main influencer of the hybrid work trend, the model appears now to be here for good. With more people working from home than ever before, how can companies manage internal fraud cases?

Israel-based predictive AI fraud protection company nSure AI raised $6.8m in seed funding led by DisruptiveAI, Phoenix Insurance, AXA-backed venture builder Kamet, Moneta Seeds and private investors.

KYND, which develops cyber risk management solutions, has partnered with privately owned insurance broker Hylant.

A report by Enterprise Ireland has found the effects of the Covid-19 pandemic has sped-up the demand for the adoption of RegTech solutions in the Asia Pacific (APAC) region.

Aveni, an AI solutions company, has partnered with UK-based Age Partnership, a leading equity release advisory firm, to revolutionise their Quality Assurance (QA) monitoring capacities. This strategic collaboration aims to enhance QA monitoring in terms of coverage, speed, and precision.

As more and more people rely on cashless systems to move money around, there is a pressing need to understand how electronic funds transfers (EFTs) – specifically – wire transfers and automated clearing house (ACH) transfers – could be at risk from financial crime.

The importance of robust, clear, and compliant policies and procedures cannot be overstated in the dynamic realm of financial services. These fundamental elements empower firms to align their operations with strategic goals, adhere to regulatory mandates, and cultivate a culture rooted in accountability and transparency.

A survey conducted by IHS Markit and Pirum has found over 70% of regulatory respondents plan to consolidate their diverse reporting processes under a single platform.

Data-based solution developer Certua has entered into a new partnership with Covéa Insurance in a bid to boost risk management for small businesses.

The Bank for International Settlements (BIS) has published a paper underlining the challenges caused by rapid Big Tech growth in the financial services sector.