Challenges for CPAs with Crypto Data

Blockchain technology and cryptocurrencies (crypto) present a multitude of challenges for CPAs. This article will examine some of those challenges and provide helpful tips.

1. Data is king

Truzo, the first African-focused FCA-approved digital escrow service, officially launches in the UK this week. An established and fast-growing player in South Africa, Truzo now makes transactions between the UK and South Africa safer and more reliable, providing both buyers and sellers of goods and services greater confidence and security.

InvestCloud, the global leader in digital transformation for the financial industry with over $6 trillion in assets, today announced partnerships with leading asset managers, AssetCo and Westwood Group to innovate the digital distribution of financial products and strategies. Launching in the US initially, the partnership lays the foundation for both AssetCo and Westwood to tap into new markets through the InvestCloud platform’s global reach.

For the third year in a row, Sun Finance, a Latvia-based financial technology company, has been ranked as one of the fastest-growing companies in Europe by The Financial Times, the world’s leading business newspaper. This result allows Sun Finance to become the only Latvian company which has earned a spot in the ranking for three consecutive years.

UK financial services organisations are collectively spending £34.2 billion each year on financial crime compliance (FCC), according to the latest True Cost of Compliance report from LexisNexis Risk Solutions. This figure represents an increase of 19% since 2020.

Mia-FinTech, the technology provider for banks and financial institutions based on the Mia-Platform technology, announced that it has launched Payment Integration Hub (PIH), a new application that brings together all digital payment methods in a single console.

The B2B2C offering will allow all kinds of companies to integrate and handle different payment APIs in a single modular, ready-to-market solution where they can manage the entire digital payments lifecycle.

The government has announced the launch of a national hub for FinTech, named the Centre for Finance, Innovation and Technology (CFIT), to drive the growth of the sector on a global scale. 

CFIT is supported by £5.5 million of Treasury and City of London Corporation funding and will boost growth and innovation, championing businesses and fostering job creation across the sector.  

1. Can you describe how open banking has improved 365 Business Finance’s own processes and speed of lending? 

ImaliPay, a leading global fintech-as-a-service provider, has signed a major deal with 3rd Party e-commerce fulfilment solution Renda.

Zimpler, a Swedish fintech company providing seamless and secure account-to-account payments, announced today the appointment of Stefan Andersson as its Chief Product Officer. He will take on the role starting 20 March 2023.