Tag: financial institutions

In the ongoing global efforts against money laundering, the task of comprehending customer identities has proven to be a crucial element in Know Your Customer (KYC) compliance for financial establishments over the years. However, the perpetual shift in regulations has augmented the expense and intricacy involved in acquiring and maintaining clients.

ESG Bay, an environmental, social, and governance (ESG) self-assessment platform, has recently secured a pre-seed investment. The UK-based company assists organisations in gauging their climate and societal impact by applying universal metrics, and generates lucid ESG assessments for customers, community, stakeholders, and the broader public.

RegTech firm Arctic Intelligence recently provided a guide to understanding and mitigating money laundering and terrorism financing risks.

Dive into the intricate world of smurfing, a subtle form of money laundering, and learn about the transformative role Flagright's AI-powered tools are playing in combating this malpractice.

The world of Environmental, Social, and Governance (ESG) compliance is becoming increasingly intricate and crucial for financial institutions (FIs). Amid this rapidly changing landscape, where sustainability and responsible investing have taken centre stage, FIs find themselves under mounting pressure to navigate these challenges effectively.

In an increasingly interconnected financial landscape, financial crime has become more sophisticated, underlining the importance of maintaining robust anti-money laundering (AML) compliance for financial institutions. With stringent regulatory scrutiny and technological advancements, financial institutions must adhere to strict AML regulations to deter activities such as money laundering, terrorism financing, and other financial crimes. Moreover, understanding and considering the significant cost of non-compliance is vital.

In the data-driven epoch, secure, adaptable, and scalable fraud prevention systems hold immense significance, especially for financial institutions handling sensitive data and massive amounts of money. The scalability of these systems, often overlooked, is crucial not only to handle the present volume of transactions but also to accommodate growth over the upcoming years.

The constant evolution of the financial landscape has placed anti-money laundering (AML) and counter-financing of terrorism (CFT) measures at the forefront of combating financial...

Unlocking the potential for commercial success, dynamic financial crime risk assessments offer a multitude of benefits for financial institutions. Acuminor, a RegTech company explained that these benefits serve to bolster the financial health, stability, and long-term growth of these institutions.

London-based FinTech firm, FundMyPitch (FMP), a prominent platform that forges connections between investors and investment-ready businesses in need of capital for venture initiation, has made remarkable strides in its maiden trading year by raising close to £6m for entrepreneurs on its platform.