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AML Compliance Controls Can Be Costly

PYMNTS

Money laundering has always troubled financial institutions, but today’s digital banking system creates additional complexities as fraudsters around the world take advantage of financial technologies. Mobile, online and phone channels all have distinct fraud challenges and customer needs.

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New EU Card Rules Could Confuse Customers

PYMNTS

The European Union has issued new rules for contactless payments, which has caused confusion and forced one digital bank to issue new cards, according to a report in the Telegraph. A digital bank called Bó , started by Royal Bank of Scotland (RBS), has had to issue 6,000 new cards because of the new regulation.

Cards 204
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Fintech Deals to Watch: Fall Festivities

Gonzobanker

Digital: Pigskin Pick-Ups Bankjoy , a digital banking provider, had a funding round led by the Curql Collective Credit Union Service Organization. Treasury management provider Dragonfly Financial Technologies launched independently from an ACI Worldwide sale. an embedded payments platform for fintechs.

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How Synchrony Financial Is Upgrading Its AML Strategy

PYMNTS

Money laundering has always troubled financial institutions, but today’s digital banking system creates additional complexities as fraudsters around the world take advantage of financial technologies to launder approximately $2 trillion annually.

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Fintech Deals to Watch: Back to School

Gonzobanker

Digital Engagement Had Great Attendance and Extracurriculars. Digital banking provider Alkami acquired data analysis and marketing campaign management provider Segmint Digital banking and payments provider Bottomline was acquired by Thoma Bravo for $2.6B.

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The Fiserv-First Data Merger Is Complete

PYMNTS

At the time the transaction was announced, the companies said users would benefit from a “highly complementary combination” that offers a range of payments and financial services, spanning account processing and digital banking, integrated payments and the Clover POS system, among other products and services.

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UK Financial Watchdog Says Wirecard Cooperative But Assets To Stay Frozen 

PYMNTS

The report said firms such as Pockit, the London-based financial technology company that offers an alternative to traditional banks, and U Account, the Sheffield, England digital bank, a subsidiary of subprime lender Morses Club PLC that provides finance to poorer clients, are among those hardest hit. authorities.

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