Artificial intelligence is transforming the fight against financial crime. However, it's also giving criminals powerful new tools. As banks, regulators and technology providers race to harness AI for fraud detection, AML and risk management, cybercriminals are using the same technology to launch more convincing scams, automate attacks and evade detection. The result is an escalating AI arms race, where...

The volume of marketing content flowing through financial services firms has reached a tipping point. Compliance teams, already stretched thin, are now contending with a surge driven by generative AI tools, influencer-led campaigns, and the relentless demands of omni-channel marketing. Research by Saifr, drawing on responses from US financial marketing and compliance leaders, found that 61% of compliance executives...

Sanctions compliance has never been a single, unified discipline, yet much of the technology built to support it has treated it as if it were. In reality, compliance teams face a fragmented patchwork of jurisdictional regimes, each with its own list logic, update schedules, and entity naming conventions. According to Sherlocq, OFAC operates through its Specially Designated Nationals list, complete...

Backbase, a provider of an AI-native Banking OS, has acquired Kasisto, a pioneer in agentic AI for the banking and financial services sector, in a move that signals a decisive shift in how banks are expected to handle customer intent and resolution at scale. The deal brings Kasisto's agentic platform, its financial services intelligence capabilities, and its New York-based team...

Trovy, a US consumer FinTech replacing high-cost consumer debt with home equity-backed financing, has announced it has closed a $15m Series A, bringing its total capital raised to $25m. The Series A was led by Left Lane Capital, with existing seed investors Kleiner Perkins, DCM Ventures, and Camber Creek all returning to participate in the round. The proceeds are earmarked...

Modern Treasury, a payments operations platform, has announced a partnership with fraud prevention specialist Sardine to bolster transaction monitoring and fraud detection for businesses processing payments across the US and internationally. The integration brings Sardine's real-time risk infrastructure into Modern Treasury's existing platform, giving customers an additional layer of fraud detection across a range of payment rails including ACH, Wire,...

Float Financial, a Canadian business finance platform offering corporate cards, bill pay, and working capital credit, has closed a CAD $85m all-equity Series C round, lifting its valuation by 70%. The round was led by Inovia Capital, with continued support from Goldman Sachs Alternatives, which led the company's Series B in December 2024, and Garage Capital. New investors BDC Capital...

Taktile, an AI transformation platform for financial institutions, has closed a $110m Series C funding round led by Growth Equity at Goldman Sachs Alternatives. Joining Goldman Sachs in the round were existing and new backers including Balderton Capital, Index Ventures, Tiger Global, Y Combinator, and Dig Ventures. The capital will be channelled into enhancing Taktile's AI capabilities for complex banking...

Traditional know-your-customer compliance is no longer struggling to keep pace. It is collapsing under the weight of its own limitations. Rising regulatory demands, increasingly sophisticated financial crime networks, and data volumes that grow faster than any analyst pool can absorb have pushed legacy compliance models beyond their breaking point. According to Quantifind, adding more headcount, more rules engines, or more...

Know Your Business (KYB) has become a critical pillar of modern compliance workflows, enabling regulated firms to verify the legitimacy, ownership, and risk profile of the companies they engage with. As financial services expand globally, onboarding business customers becomes increasingly complex, requiring firms to assess corporate structures, identify ultimate beneficial owners (UBOs), and ensure ongoing compliance with anti–money laundering...