FICO

DECEMBER 17, 2020

Cryptocurrency exchange rates have skyrocketed in the past month. According to a recent report , the total of cryptocurrency related frauds and thefts stands at a staggering $7.69b. billion of losses stemming from fraud, scams, and misappropriation of funds. This includes $2.8 This includes $2.8 by Sebastian Hetzler.

cryptocurrency 52

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PYMNTS

SEPTEMBER 23, 2020

Financial crime is a pervasive threat to banks, credit unions, FinTechs and other financial institutions (FIs) the world over. A recent study from PwC found that 47 percent of companies had experienced fraud at least once in the past two years, with a grand total of $42 billion in funds stolen over this period of time. billion ($8.9

Technology 208

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FICO

AUGUST 12, 2021

Financial Institutions’ compliance officers and teams should be concerned that Open Banking may render their existing AML/CTF and KYC compliance programs inadequate. They provide added services to customers ranging from personal budgeting and spending alerts to personal funds transfers and cryptocurrency wallets.

Compliance 52

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Abrigo

MARCH 11, 2022

Thanks to an increase in mobile payments precipitated by the pandemic and rising security concerns due to the Russian conflict in Ukraine, the world of financial fraud prevention is more dynamic than ever. Cryptocurrency In general, NBFIs have a higher risk tolerance for cryptocurrency than traditional financial institutions.

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PYMNTS

SEPTEMBER 29, 2020

Jumio said it plans to integrate Beam’s AML screening and transaction monitoring services into its KYX platform to help flag financial crime and streamline regulatory compliance. The Palo Alto-based firm on Tuesday (Sept. The announcement comes on the heels of Jumio’s Sept.

San Francisco 153

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CB Insights

SEPTEMBER 13, 2021

Mastercard , a global fintech platform, acquired CipherTrace , a blockchain analytics and cryptocurrency intelligence software provider, for an undisclosed amount. The technology offers services such as blockchain forensics, anti-money laundering, and compliance monitoring, among others. Who are the parties to the deal?

Analytics 43

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CB Insights

AUGUST 3, 2017

Latin America’s fintech scene is gaining momentum, with 80+ fintech deals closing for around $300M in 2016, and over 100 deals already closed in 2017. Track the LatAm fintech companies in this brief and many more on our platform. Track LatAm fintech companies. LatAm Fintech. Cryptocurrency. 630+ items.

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Alex Jimenez

NOVEMBER 4, 2023

Money 20/20 USA has become the biggest FinTech gathering in the US. FinTech Revolution and AI: The overarching trend was the continued evolution and revolution in the FinTech industry, including the adoption of AI and emerging technologies. Similarly, FinTech firms face a reality with limited VC funds.

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PYMNTS

JANUARY 6, 2019

Local FinTech firms such as PeerSafe will be supplying technical support. In other news, Vaishali Mehta, who worked as a senior compliance manager at Coinbase, has left the company to become the head of compliance for TrustToken , which produces the TrueUSD stablecoin. Mehta is the latest Coinbase executive to jump ship.

blockchain 160

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Insights on Business

MAY 1, 2018

Global VP of Watson Financial Services, Vivek Bajaj, will kick it off with a keynote speech on how Cognitive and Blockchain are using regtech, augmented counter fraud and customer service and to ultimately, transforming financial services. Compliance. Cryptocurrencies. Topics include: AI. Biometrics. Blockchain. Open Banking.

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PYMNTS

JUNE 21, 2018

FinTech companies have been doing their best to take disruptive approaches that are more automated and efficient than those of their traditional financial services counterparts. They are moving away from the old-fashioned “check box” approach to compliance, instead favoring a risk-based approach, as per the U.S.

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PYMNTS

NOVEMBER 14, 2019

But this expanded talent pool not only compounds the complexities and volume of payroll tasks, but as Guez noted, compliance can quickly turn into a headache. “It Compliance is still a major challenge. GDPR and similar legislation are tied with payroll because of all the personal data that goes into payroll calculation.

Payments 127

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Bank Innovation

MARCH 2, 2018

The 16 registered cryptocurrency exchanges currently operating in Japan will soon form a self-regulating body, after a $530 million heist of digital coins in the region led to investor concerns, Reuters reported today.

cryptocurrency 199

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FICO

JUNE 1, 2023

As AI applications are put to work at more complex tasks like managing capacity on power grids and monitoring financial transactions for fraud , all of us at FICO firmly believe that the only type of AI to apply is the responsible, explainable, ethical kind. Models need to generalize and ensure that one behavior doesn’t dominate.

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PYMNTS

JULY 22, 2019

And there is no shortage of interest in the region in that ability, with particular interest coming from the financial services sector, the cryptocurrency markets and in the healthcare vertical. Part of that, he added, is across-the-board high standards when it comes to compliance and verification. Opportunity, he noted, abounds.

Innovation 161

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Gonzobanker

DECEMBER 14, 2023

Not the financial industry’s “Troublemakers ” – those regional and community banks, credit unions and supporting fintech entrepreneurs who continue to engage customers and communities and find niches that keep the grassroots of our country’s financial system alive and kicking. That’s enough to send normal people into the fetal position.

Fintech 194

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Let's Talk Payments

APRIL 20, 2016

Cryptocurrencies seem to be taking a special place in the minds of financial industry professionals as a wide range of cryptocurrencies have reached quite a significant market capitalization and turnover.

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PYMNTS

DECEMBER 8, 2020

The latest arena for money laundering is through cryptocurrency , a burgeoning market expected to be valued at $1.4 Experts estimate that cryptocurrency-related crimes totaled $4.3 billion in laundered money , with this problem only expected to grow as cryptocurrencies grow more popular. billion by 2024.

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Payments Source

NOVEMBER 9, 2018

A new group aims to foster collaboration between fintechs and state and federal officials in the fight against crime — without hindering legitimate business innovation.

Fintech 63

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Gonzobanker

DECEMBER 19, 2022

In December, the founder and CEO of Crypto Exchange company FTX was arrested in the Bahamas (yah, don’t ask) and charged with fraud and conspiracy. In 2021, there were more than 120 fintech IPOs in the U.S., 2022 was the year the fintech industry and venture capital firms figured out that banking is harder than everybody thought.

Community 216

Community Fintech Industry Innovation 216

PYMNTS

MARCH 12, 2018

If so, some measures come into play – aimed at shielding investors from fraud, and well, unleveled playing fields – that haven’t been in play. Said Patel of the ICO-focused firms themselves: “My concern is that we need one agency to rule them all so they know what they need to do to be in full compliance.”.

Regulation 117

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FICO

DECEMBER 23, 2020

The global pandemic has driven a dramatic change in consumer behavior, not least an exponential rise in the use of digital and mobile channels for banking and financial services, increased competition from fintechs, and the rise of open banking. Regulators Will Zero in on Closing the Gaps. Collaboration Will Be Key.

Compliance 52

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Let's Talk Payments

AUGUST 19, 2016

The purpose of this article is to highlight the issues of a consumer who wants to invest in digital currencies like bitcoin and how can the regulator achieve the twin.

Regulation 40

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FICO

MARCH 6, 2020

Visma Connect recently interviewed Jürgen Krieg, FICO's head of global compliance sales. In this excerpt from that article, Jürgen elaborates on the importance of compliance. . A partnership aimed at helping banks, payment providers and fintechs meet the ever stronger regulatory demands while reducing effort and expense. .

Compliance 81

Compliance Technology Fraud Analytics 81

NCR

AUGUST 18, 2017

It started out as the rails for cryptocurrencies like Bitcoin, but has evolved as a technology that can transform many legacy business paradigms in the banking sector. A whitepaper produced by the UK-based FinTech Network in cooperation with BNY Mellon and Rabobank highlighted payments as one of the primary applications for the technology.

blockchain 75

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PYMNTS

JANUARY 1, 2021

Indian FinTech Cashaa and the country's United Multistate Credit Cooperative Society teamed up to launch what they say is the world's first cryptocurrency bank branch through a joint-venture bank called Unicas, according to a release. The operation also will provide traditional banking services, according to the backers.

Miami 201

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Fintech Labs Insights

NOVEMBER 2, 2015

In total, 23 fintech companies raised more than $121 million including Finovate alums Spreedly which brought in $2.5 The post Fintech Fundings: 23 Companies Raise $120 Million Week Ending Oct 30 appeared first on Finovate. Tags: Bitcoin, blockchain, remittances, payments, cryptocurrency, mobile. mil), iSignThis ($10.5

Los Angeles 12

Los Angeles New York City San Francisco Company 12

Fintech Labs Insights

JULY 23, 2015

While not a pure fintech play, we included it here because its primary customers are the big insurers, including the U.S. Risk & compliance management for financial institutions. The post Fintech Fundings: 21 Companies Raise $440 Million Week Ending July 23 appeared first on Finovate. Tags: Compliance. government.

Company 12

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Fintech Labs Insights

SEPTEMBER 25, 2015

Funding to the fintech sector maintained pace this week with another quarter-billion ($234.3 The post Fintech Fundings: 17 Companies Raise $235 Million Week Ending Sep 25 appeared first on Finovate. Tags: Enterprise, security, regulations, compliance, fraud protection. Public infrastructure for money. Source: FT Partners.

San Francisco 12

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Fintech Labs Insights

JUNE 6, 2016

Fintech deals by size from May 7 to 13, 2016: Avant (AvantCredit UK). The post Fintech Fundings: 30 Companies Raise $390 Million Week Ending May 13 appeared first on Finovate. Tags: Consumer, payments, cryptocurrency, bitcoin, blockchain, remittances. Total dollars raised YTD is now $14.7 billion, more than twice the $6.7

Company 12

Company Fintech San Francisco New York City 12

PYMNTS

JULY 23, 2018

Legacy banks around the world have been under tremendous pressure in recent years to transform their business models, as upstart FinTech companies are removing the barriers to entry and credit access that have kept large numbers of growth businesses and consumers out of the market. Lingering Fraud Risk . billion. . Switch, Inc.,

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PYMNTS

MARCH 23, 2018

The company raised $20 million , reports this week said, with China-based cryptocurrency hedge fund FBG Capital leading the way. While announcing $1 million in seed funding, Finhaven said it is also rolling out a blockchain-based securities law compliance solution. The company is planning a token airdrop that will offer 1.5

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CB Insights

MAY 15, 2019

With recent advances in blockchain, cryptocurrency, contactless payments, and more, finance is primed for disruption. As fintech plays a larger role in the financial ecosystem, companies are looking for ways to use tech to solve problems and find new opportunities in the space. Get the entire 43-page PDF. Founded: 2010.

Innovation 78

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