Airwallex Becomes First Payments Company to Obtain AFSL for Expansion into Retail Investment Products
- 2 years 3 months ago
- Payments
Airwallex, the Australia-founded leading financial platform for modern businesses, has become the first major payments company to be granted an Australian Financial Services Licence (AFSL) by the Australian Securities and Investment Commission (ASIC) to offer businesses access to retail investment products. This is an additional licence from the AFSL that Airwallex has held for its existing payments and foreign exchange business since 2016.
7th Edition Model Risk for Financial Institutions
- 2 years 3 months ago
- FinTech StartUps
Model risk management is an ongoing focus for financial institutions. There is an ever-growing complexity of models that need to be monitored and governed appropriately and it is the responsibility of the model risk and validation departments to manage this. With the growing use of AI and ML, model risk management strategies have to be agile and able to adapt to this change, particularly considering the EU AI Act regulations.
BMLL Partners with ARTEX Global Markets to Democratise Art Investing
- 2 years 3 months ago
- Banking
BMLL, the leading, independent provider of harmonized, historical Level 3, 2, and 1 data and analytics across global equity, ETFs, and futures markets, today announced a partnership with ARTEX Global Markets, the regulated art-focused multilateral trading facility (MTF), to redefine the way intraday art-financial data can be re-distributed and analyzed.
Monument Has Reached £3 Billion in Customer Deposits
- 2 years 3 months ago
- Banking
Monument Bank has achieved a significant milestone, surpassing £3bn in client deposits, marking a £1bn increase in just over ten weeks. This achievement reflects a robust start to Q3, during which the bank has doubled its client base within six months. Ian Rand, CEO of Monument, expressed his satisfaction with this rapid growth, stating,
Sopra Banking Software Announces Strategic Partnership with Finom to Enhance Compliance and Security in the French Fintech Market
- 2 years 3 months ago
- Banking
Sopra Banking Software (SBS) announces a strategic partnership with Finom, an innovative financial services provider dedicated to SMEs and entrepreneurs. This partnership aims to provide comprehensive compliance and user verification services, ensuring the highest standards of regulatory compliance and security in the French fintech market.
Selective Insurance Employs One Inc’s ClaimsPay® Solution
- 2 years 3 months ago
- Insurtech
One Inc, the leading digital payments network for the insurance industry, announced today that Selective Insurance, a leading business, home, and auto insurer, has selected One Inc's ClaimsPay® digital payment solution.
IDology Unveils Global Fraud Report, Reveals Growing Concerns About Generative AI's Impact on Fraud
- 2 years 3 months ago
- Fraud Detection
IDology, a GBG Company, today released its 2024 Global Fraud Report, confirming increasing concerns about the impact of generative AI on fraud. With rapid advancements in AI, businesses expressed heightened concerns about the evolution of familiar types of fraud—such as synthetic identity fraud (SIF) and phishing—fueled by generative AI.
Microsoft Faces Major IT Outage, Shares Drop
- 2 years 3 months ago
- Infrastructure
On July 19, 2024, Microsoft faced a significant IT outage affecting various services, including its cloud-based platforms. The outage, which began early in the day, caused widespread disruptions for businesses relying on Microsoft's cloud services. Microsoft has since reported that the issue has been resolved, but the incident has raised questions about the robustness of their infrastructure.
NewDay Enhances Its Affordability Assessments with D•One Open Banking Services
- 2 years 3 months ago
- Open Banking
D•One, part of the ClearScore Group, today announces that NewDay, a leading provider of unsecured consumer credit in the UK, has gone live with D•One’s open banking connectivity and transaction categorisation products. This move to provide deeper affordability assessments supports responsible access to credit, as well as financial inclusion.
Tandem Bank Smashes £650 Million Milestone in Home Improvement Lending for Greener Homes
- 2 years 3 months ago
- Infrastructure
Building the UK’s greener, digital bank, Tandem is proud to announce it has approved £650m in new lending in green and ‘pathway to green’ home improvement lending (HIL). This milestone highlights Tandem’s ongoing commitment to helping UK households reduce their carbon footprint and enhance energy efficiency.
Lemonade's 2024 Giveback Donates Over $2 Million to Customer-Chosen Organizations in its Eighth Year
- 2 years 3 months ago
- Insurtech
Lemonade, the digital insurance company driven by AI and social impact, announced its 2024 Giveback, marking the eighth consecutive year of giving back to dozens of local and global charities chosen by customers.
4th Edition Climate Risk Management for Financial Institutions
- 2 years 3 months ago
- FinTech StartUps
Climate risk continues to be a top concern for financial institutions and a growing priority for the regulators, which is increasing the pressure for financial institutions to focus on it more. There is still much conversation about understanding the true impact of climate risk regulation as it is relatively new to the industry. Financial institutions are in the process of preparing for different climate-related scenarios so that they can...
Treasury and the Financial Services Sector Coordinating Council Publish New Resources on Effective Practices for Secure Cloud Adoption
- 2 years 3 months ago
- Cloud
The U.S. Department of the Treasury and the Financial Services Sector Coordinating Council (FSSCC) published a suite of resources to share with financial services institutions on effective practices for their secure cloud adoption journey. These deliverables are the result of a year-long public-private partnership of the Financial and Banking Information Infrastructure Committee (FBIIC) and the FSSCC.
AmInvestment Bank Enhances Securities Finance Services with Broadridge to Boost Client Value
- 2 years 3 months ago
- Trading Systems
To transform and expand their prime brokerage business lines and as part of its broader efforts to add and enhance value for its clientele, AmInvestment Bank, a company in the Ambank Group and one of the largest banking groups in Malaysia, has deployed global Fintech leader Broadridge Financial Solutions, Inc.'s Securities Finance and Collateral Management platform to enable their Securities Borrowing and Lending product offerings.
Coast Raises $40 Million Series B to Accelerate Adoption of Modern Fleet Payments
- 2 years 3 months ago
- Fundraising News
New York-based Coast, which offers a simple and smart way for companies in the United States to manage fuel and fleet spending, today announced it has raised $40 million in new Series B financing, led by ICONIQ Growth. The round included participation from existing investors Accel, Insight Partners, Vesey Ventures, and Avid Ventures, as well as new investors Thomvest.
