Tag: Anti-Money Laundering

Politically Exposed Persons (PEPs) have been a longstanding concern in the world of banking and finance, with their identification being a crucial element of anti-money laundering (AML) regulatory requirements for over two decades. Recent events, such as Russia's invasion of Ukraine, have propelled PEPs into the spotlight, as even prominent figures in British politics found themselves denied access to their bank accounts due to their PEP status, as Moody's Analytics discussed in their recent white paper.

Key Nordic FinTech investment stats in Q3 2023: • Nordic FinTech deal activity reached eight deals in Q3 2023, a 77% drop from Q3 2022 •...

Flagright, a global leader in AI-powered AML (Anti-Money Laundering) compliance solutions, has announced that it has onboarded iCore Technologies as its latest customer.

The rise of the digital age has brought a plethora of growth opportunities for FinTechs and non-banking financial institutions (FIs). However, many of these entities find themselves ill-prepared to harness these potential gains fully.

Generali Investments Holding, a powerhouse in the world of asset management with over €504bn assets under management (AUM), has chosen to partner with Fenergo, the industry leader in digital solutions for Know Your Customer (KYC), Transaction Monitoring, and Client Lifecycle Management (CLM).

Revolut, a global financial superapp serving over 35 million customers, has significantly expanded its Financial Crime (FinCrime) division, doubling the headcount since 2021.

Key Portuguese FinTech investment stats in H1 2023: • Portuguese FinTech deal activity reached 17 transactions in H1 2023, an 88% increase from H1 2022 •...

Key European InsurTech investment stats in H1 2023: • European InsurTech deal activity is on track to reach 154 transactions in 2023, a 28% reduction...

Financial institutions often fall prey to money launderers who exploit these platforms to funnel, mask, transfer, and cleanse ill-gotten gains. This doesn’t just endanger the specific institution but imperils the credibility of the entire financial system.

PEPs are a key topic of discussion right now. Fenergo recently took the chance to dip deeper on PEPs and the fight against financial crime.