Tag: Banks

Singaporean FinTech deal activity sees 42% drop in 2023

Key Singaporean FinTech investment stats in 2023: • Singaporean FinTech deal activity totalled at 135 transactions in 2023, a 42% reduction from 2022 • Singaporean FinTech...

91% of banks are endorsing Generative AI at board level

91% of banks now endorse Generative AI at a board level, according to a new global study by NTT Data.

Enhancing onboarding: The strategic edge in bank customer due diligence

In the competitive landscape of banking, customer onboarding emerges as a pivotal phase, with customer due diligence standing at its core. When managed poorly, the onboarding process can deter potential clients, causing banks to miss out on new revenue streams. Conversely, hasty or inaccurate due diligence could lead to the acquisition of customers who pose commercial and reputational risks, potentially incurring hefty regulatory fines.

Radian backs FinLocker with a fresh investment

Radian Group, a leading company in mortgage and real estate services, announced a strategic investment in FinLocker, a revolutionary app designed to assist in personal financial fitness and homeownership.

Kinecta partners with FusionIQ to revolutionise digital investing

FusionIQ, a leading provider of cloud-based wealth management solutions, joins forces with Kinecta Federal Credit Union in a strategic partnership aimed at enhancing digital investing services for financial institutions.

The rise of money mules in UK fraud: Prevention and detection

Fraud in the UK has become a significant concern, with 40% of crimes being fraudulent. Money muling is at the forefront, where fraudsters utilise synthetic or real mule accounts for financial gain. The UK government, recognizing the seriousness, plans to publish an action plan to combat this issue. 

US banks to face tighter online lending scrutiny under updated regulations

Regulators in the US are set to tighten the screws on banks regarding which communities they serve through online lending.

Singapore banks’ enhanced security nets $57.6m in scam prevention

The ABS has declared the advanced security measures taken by significant retail banks in Singapore are proving effective against scams.

AI-powered financial safety platform Carefull nets $16.5m in Series A funding

Carefull, an AI-driven FinTech platform, has taken a significant stride forward in its mission to safeguard the finances of older adults. The company successfully closed...

IBM study uncovers tech challenges hampering financial institutions

A study led by IBM Institute for Business Value (IBV) has shed light on the discrepancies between the priorities of bank executives and their consumers.

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