In a significant regulatory action, Volkswagen Finance, has been fined £5.4m by the FCA for not treating customers in financial difficulty fairly. This fine stems from the company's insufficient efforts to understand and support customers' individual situations effectively, leading to potentially severe consequences for those affected. From the start of 2017 to mid-2023, Volkswagen Finance showed a repeated failure in...

Nasdaq has unveiled an machine learning methodology designed to revolutionize risk calculations and predictive analytics in the financial industry. Integrated into the Calypso platform, this innovation is set to benefit banks, insurers, and other financial institutions by significantly accelerating the processing of complex trading and regulatory risk calculations, while maintaining high levels of accuracy. The development focuses on a machine learning...

Artificial Intelligence (AI) is revolutionising various industries by offering technologies that enhance speed, quality, and efficiency. The financial compliance sector is particularly benefiting from AI, which helps firms keep pace with ever-evolving regulations while managing costs. Unlike many vendors focused solely on AI technology, Red Oak Compliance Solutions said it distinguishes itself by integrating sophisticated AI into the world's...

Cyera, an AI-powered data security firm, has completed the acquisition of Trail Security, a data loss prevention firm, for $162m.

Key Indian FinTech investment stats in H1 2024: Indian FinTech deal activity decreased by 43% YoY Average deal size increased from $12.7m to $16m as investors focus on larger deals Svatantra, a technology driven microfinance company, secured the largest FinTech funding round in India with a $230m private equity investment deal In H1 2024, the Indian FinTech sector saw a...

Pivot Payables, a leading FinTech firm specializing in corporate financial operations solutions, has announced a groundbreaking integration with American Express. This collaboration marks a significant enhancement to Pivot Payables’ offerings, integrating virtual card capabilities within its accounting automation application, PivotLynx. Through this integration, American Express® U.S. Business and Corporate Card Members can now generate on-demand virtual Cards, streamlining the expense...

Worldline, a prominent player in the payment services sector, has recently unveiled its latest offering, “Bank Transfer by Worldline”.

OneDegree Global, a trailblazer in digital insurance solutions, and DB Inc., have come together to innovate in the rapidly evolving insurance industry.

Bishop Street Underwriters, owned by RedBird Capital Partners, collaborates with InsurTech pioneer Kalepa to leverage innovative AI technologies for enhancing underwriting decisions.

Despite $736m being raised across all funding rounds recorded by FinTech Global this week, there were only 13 key deals reported. The leading funding raise this week was brought in by Kiavi, a tech-enabled lender that focuses on residential real estate investments, who pulled in a large $400m through a securitisation. Here are this week’s deals. Kiavi secures $400m in landmark...