Tag: banking systems

Revolut Launches in USA
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Revolut Launches in USA

Revolut launched its Financial App and debit card in the United States. Since hinting at the launch last year, Revolut claims it already attracted tens of thousands of U.S. customers. Revolut launched in 2015 with a vision to build a Financial Super App – a single app where consumers can […]

More than four out of five anti-money laundering and customer onboarding professionals simply use Google
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More than four out of five anti-money laundering and customer onboarding professionals simply use Google

While the growing number of money laundering scandals have confirmed the need to protect businesses against fraud, many analysts simply rely on Google. Having surveyed 156 anti-money laundering (AML) and know your customer (KYC) professionals, RegTech company Arachnys has revealed that 85% used Google for their due diligence or risk […]

FCA issues coronavirus cryptocurrency scam warning
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FCA issues coronavirus cryptocurrency scam warning

The UK’s Financial Conduct Authority (FCA) has warned investors to avoid coronavirus-related cryptocurrency schemes that may seem too good to be true. Crypto scams are on the rise to exploit investors In a warning published on its website, the regulator says criminals and scammers are trying to take advantage of […]

Giant Financial Institution, the BBVA, Asks Fintech Firms to Develop Regtech and Finance Solutions via its Open Talent Program
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Giant Financial Institution, the BBVA, Asks Fintech Firms to Develop Regtech and Finance Solutions via its Open Talent Program

BBVA (Banco Bilbao Vizcaya Argentaria, S.A)., a Spanish multinational financial services company, is making changes to its Open Talent competition for early-stage firms and startups, in order to work cooperatively with Fintech businesses. BBVA is one of the world’s largest financial institutions. It offers services in Spain, South America, North […]

Glasgow-based AutoRek Partners with Nationwide to Offer Data Management and Cloud-powered Financial Controls
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Glasgow-based AutoRek Partners with Nationwide to Offer Data Management and Cloud-powered Financial Controls

Glasgow-headquartered AutoRek, a firm that provides financial controls and regulatory reporting software, has teamed up with Nationwide to offer a data management solution and cloud-powered financial controls for a three-year period, with a two-year extension plan. Gordon McHarg, managing director at AutoRek, stated: “I am really pleased to welcome an […]

Bain & Co: Banks are Losing Customers to Fintech and Tech Giants
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Bain & Co: Banks are Losing Customers to Fintech and Tech Giants

Traditional banks are losing customers to nonbank competitors because they still lag the digital experience offered by leading fintechs, established specialist companies and major technology companies. In order to stay in the game, retail banks must improve their digital channels’ interface and functionality, according to research by Bain & Company. […]

SIX Group Selects Know Your Customer’s Solutions for Supplier Due Diligence
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SIX Group Selects Know Your Customer’s Solutions for Supplier Due Diligence

IX Group has selected Ireland and Hong Kong-based RegTech provider Know Your Customer to strengthen its procurement process and better assess the risk associated with its international suppliers. By utilising Know Your Customer’s due diligence platform, SIX Group is looking to increase the accuracy of its risk calculations on suppliers that […]

Estonian e-Residency MD: No deal Brexit is no problem thanks to digital identity
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Estonian e-Residency MD: No deal Brexit is no problem thanks to digital identity

Digital residency could nullify the worst-case scenario of a no-deal Brexit for small companies and entrepreneurs, according to Ott Vatter, managing director of Estonia’s e-Residency programme. “E-residency can be a solution for some companies due to the uncertainty,” he tells Finextra Research. While much of the uncertainty around Brexit has […]

Deutsche Bank’s latest compliance failures risk post-Brexit ‘passport’: FT
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Deutsche Bank’s latest compliance failures risk post-Brexit ‘passport’: FT

Bank of England officials have voiced concerns that Deutsche Bank is failing to improve its anti-money laundering (AML) and compliance controls and have warned the German lender that it could lose access to the UK market following Brexit, the Financial Times reported Monday. The bank’s latest compliance troubles come four […]

The impact of Brexit on the AML KYC Compliance and trade in the UK
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The impact of Brexit on the AML KYC Compliance and trade in the UK

AML/KYC screening is a mandatory part of the compliance operations of businesses. Nowadays every business is liable for some sort of KYC and AML compliance, and heavy non-compliance fines and penalties have left no choice but to invest in compliance. The regulations have changed and are more strict for financial […]