Transaction Monitoring

The UK’s Competition and Markets Authority (CMA) has warned Monzo over a breach of retail banking regulations.

The Prudential Regulation Authority (PRA) has slapped Metro Bank with a fine of £5,376,000 for deficiencies related to the governance and controls of its regulatory reporting.

Financial crime prevention firm Acuminor has updated its ThreatView platform to bolster its financial crime support offering.

After a tough 2020, the world looked to 2021 with the optimism of a new beginning and hoped for respite from the Covid-19 pandemic. While the pandemic still looms large, businesses globally are learning how to operate in this new normal. With in-person interactions still a stretch for many, RegTech solutions are being given their time to shine.

The Securities and Exchange Commission (SEC) has fined JPMorgan $125m due to ‘widespread and longstanding failures’ by the bank to maintain and preserve written communications.

The Financial Conduct Authority (FCA) has published two policy statements that confirm the final rules and guidance to promote better climate-related financial disclosures.

The Financial Conduct Authority (FCA) has fined HSBC Bank ?63,946,800 for failings related to its anti-money laundering processes.

Founded in 2015, Know Your Customer provides digital onboarding solutions to financial institutions and regulated organisations globally. The company builds its KYC platform as an interconnected set of web apps, APIs, databases and pre-trained machine learning models – and is helping to change the game in digital corporate onboarding.

Tractiv, a software company that helps financial services better understand their data, has received $2.25m in seed funding to support its product development.

The market opportunity for trade surveillance systems is steadily rising. A recent report from The Insight Partners asserted that the market will reach $2.7bn by 2028 – rising from $850m in 2019. Back in 2014, Travis Schwab sensed there would be growing demand for the sector and decided to capitalise on the gap in the market by founding Eventus Systems.