The Financial Action Task Force (FATF), the multinational body charged with setting the global approach to fighting money laundering and terrorist financing, has backed a call by leading Regtech firm SmartSearch for businesses to employ digital customer onboarding processes.

LHV, the financial and payment services provider, is pleased to welcome London-based money transfer company TransferGo as its latest client. LHV will provide TransferGo, which is one of the world’s fastest growing money transfer companies, with payment infrastructure, providing access to real time Euro and Sterling payments via Single Euro Payment Area (‘SEPA’) Instant and Faster Payments schemes respectively.
 

New data published by open banking platform Tink reveals that financial institutions in the UK are embracing the open banking opportunity more readily than their European counterparts. The survey, based on 290 senior decision makers at financial institutions in 12 European countries, found that three quarters (74%) of UK financial institutions today say they are positive about open banking, compared to a European average of 61%.

GoCardless, the leading fintech for recurring payments, has launched its first payment intelligence product, Success+ to help businesses tackle the problems caused by failed payments. Failed payments are not only costly for businesses to collect, they also impact customer relationships and increase the risk of bad debt and customer churn.

Digitalisation of risk technology will be a pivotal factor in the monitoring and management of risk during increasingly common periods of volatility and continuing market uncertainty, according to findings by Aite Group, a global research and advisory firm, and Torstone Technology, a leading provider of post-trade processing and risk management.

The COVID-19 pandemic has successfully demonstrated the many weaknesses inherent in our economy. In less than 6 months, the virus has successfully brought the global economy to a sudden, grinding halt.

 Blue Prism’s COVID-19 Response Program is at the forefront of the pandemic crisis helping organizations maintain business continuity and assisting those on the front lines of the health emergency. Launched in mid-March, the program already encompasses nearly 50 projects across multiple industries, and has donated hundreds of Digital Workers (software licenses) and thousands of service hours, helping alleviate the disruption caused by COVID-19.

Blue Prism announced today it has raised £100 million from existing and new investors, placing it in a strong position in the current economic climate. The funding will be used to further strengthen and protect Blue Prism’s balance sheet during a period of uncertainty for the wider economy, while allowing continued investment in the innovation of its dedicated enterprise intelligent automation suite.

Stakeholders need to survive, and these stakeholders are represented in ESG. The current pandemic is highlighting this fact with significant E, S and G related decisions being made daily including everything from executive pay, dividends and share buybacks, to employee healthcare, employee lay-offs, and even food insecurity.

More than 700 million Africans lack access to a bank or mobile money account and only 41% of Africans are financially included. This is due to the high cost of providing financial services in Africa which forces many financial services providers to remain focused on serving wealthier customers.