Study finds AML compliance costing UK firms over £28bn a year
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.
ComplyAdvantage adds KYB data to create financial risk detection graph of individuals and businesses
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.
Govia Thameslink Railway teams up with Quantexa to pull the brakes on rail fraud
Data and analytics software company Quantexa has partnered with UK rail firm Govia Thameslink Railway (GTR) to help stem the rising tide of rail fraud and double down on serial scammers.
MoneeMint chooses TruNarrative for onboarding and transaction monitoring
TruNarrative has been chosen by UK’s ethical digital banking platform MoneeMint to provide customer onboarding and transaction monitoring solutions.
Veriff, Monese partner to offer secure digital banking services to Europe
Estonian identity verification firm Veriff has teamed with mobile money app Monese to provide strengthened and secure digital banking services to European consumers.
Study finds central bank digital currencies may trigger stronger forex controls
A study by the Bank for International Settlements (BIS) has discovered the introduction of central bank digital currencies (CBDCs) may lead to greater foreign exchange controls.
People Bank of China set to begin green finance evaluation of major banks
The People Bank of China (PBOC) has revealed it will begin quarterly assessments of the green finance performance of 24 major Chinese banks starting 1 July this year.
Stripe launches AI-based identity verification tool for online businesses to reduce payment fraud
Payment giant Stripe goes beyond its payment products, launches Stripe Identity, an identity verification system for online businesses as a means of reducing fraud, preventing account takeovers and stopping bad actors.
Enfuce partners with Bud to bring its carbon tracking engine to UK
Finnish FinTech Enfuce has entered a collaboration with UK open banking firm Bud to bring the former’s carbon tracking engine to the UK market.
HKMA launches strategy for bolstering Hong Kong FinTech market
The Hong Kong Monetary Authority (HKMA) has unveiled a new strategy for driving FinTech development in Hong Kong.
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