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Monzo Fined £21M For Failings In Financial Crime Controls

The FCA has fined Monzo Bank Ltd £21,091,300 for its inadequate anti-financial crime systems and controls between October 2018 and August 2020.

Monzo also repeatedly breached a requirement preventing it from opening accounts for high-risk customers between August 2020 and June 2022. 

Tuesday, July 8, 2025 - 13:37
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/news/security/monzo-fined-ps21m-failings-financial-crime-controls
Financial IT
Castellum.AI Raises $8.5M Series A To Accelerate AI Agent And AML/KYC Platform Adoption

Castellum.AI, the only financial crime compliance platform with in-house risk data, AML/KYC screening and AI agents, announced the close of an oversubscribed $8.5m Series A round.

Tuesday, July 8, 2025 - 13:32
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/news/fundraising-news/castellumai-raises-85m-series-accelerate-ai-agent-and-amlkyc-platform-adoption
Financial IT
Brightwell Appoints Andrew Drake As Head Of Advisory

Brightwell, the comprehensive service provider for defined benefit pension schemes, has appointed Andrew Drake to the newly created role of Head of Advisory, effective immediately.

Andrew brings over 30 years of experience in the institutional investment industry, having held senior roles across professional services, investment consulting, fiduciary management, investment banking, and asset management.

Tuesday, July 8, 2025 - 10:37
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/news/people-moves/brightwell-appoints-andrew-drake-head-advisory
Financial IT
Lemonade Continues U.S. Expansion With Launch Of Car Insurance In Indiana

Lemonade, the digital insurance company powered by AI and social impact, today announced the launch of Lemonade Car in Indiana, marking the latest step in the company’s expanding U.S. footprint. Drivers across the state can now access Lemonade’s full suite of insurance products—all built for the digital age.

Tuesday, July 8, 2025 - 10:02
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/news/artificial-intelligence/lemonade-continues-us-expansion-launch-car-insurance-indiana
Financial IT
Loqbox Partners With Jaja Finance To Enhance Long-Term Financial Health For Cardholders

Loqbox, the award-winning credit-building platform, has partnered with Jaja Finance (“Jaja”), one of the UK’s leading credit card providers, to support customers in strengthening their credit profiles and building long-term financial health.

Tuesday, July 8, 2025 - 09:45
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/news/infrastructure/loqbox-partners-jaja-finance-enhance-long-term-financial-health-cardholders
Financial IT
Broadridge Enabling Rapid Compliance With EU Instant Payments Regulations

To support banks in accelerating their transition to real-time Swift payments ahead of the October 2025 European deadline, global fintech leader Broadridge Financial Solutions, Inc. has announced the significant market adoption of its service for connectivity, message processing and workflow management for instant payments. This move follows robust take-up by European banks, reflecting Broadridge’s commitment to enhancing the speed and efficiency of financial transactions across the continent.

Tuesday, July 8, 2025 - 09:24
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/news/compliance/broadridge-enabling-rapid-compliance-eu-instant-payments-regulations
Financial IT
Finova Appoints Ray Barry As Customer Success Director To Lead New Strategic Function

Finova, the UK’s leading cloud-based mortgage and savings software provider, is pleased to announce the appointment of Ray Barry as Customer Success Director. This appointment is part of Finova’s broader strategic investment in customer experience and long-term value delivery.

Tuesday, July 8, 2025 - 09:15
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/news/people-moves/finova-appoints-ray-barry-customer-success-director-lead-new-strategic-function
Financial IT
Next Generation NGPES Taps Sumsub For Fraud Protection And KYC Compliance

A global leader in verification and anti-fraud Sumsub has been selected by France-based fintech platform Next Generation NGPES to provide advanced fraud protection, identity verification and AML regulation compliance as it launches an innovative payment ecosystem, including an EUR-backed stablecoin.

Tuesday, July 8, 2025 - 09:09
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/news/aml-and-kyc/next-generation-ngpes-taps-sumsub-fraud-protection-and-kyc-compliance
Financial IT
Gen X Prioritises Security Over Convenience In Payment Choices, PXP Report Finds

Generation X continues to favour traditional payment methods over newer digital alternatives, with security and reliability ranking as top priorities, finds research by the omnichannel global payment platform PXP. While comfortable with digital transactions, Gen X - those born between 1965 and 1980 remain cautious adopters of new payment technology, sticking with tried-and-tested methods.

Tuesday, July 8, 2025 - 09:05
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/news/payments/gen-x-prioritises-security-over-convenience-payment-choices-pxp-report-finds
Financial IT
Finom Appoints Tijana Kovacevic As Chief People Officer To Lead Talent Strategy During Rapid European Expansion

Finom, the European financial services platform for SMEs, today announced the appointment of Tijana Kovacevic as Chief People Officer. Tijana brings over 18 years of global HR leadership experience across high-growth technology companies. She is joining Finom as the company accelerates its expansion across Europe following its recent €92.3 million growth investment from General Catalyst's Customer Value Fund.

Tuesday, July 8, 2025 - 09:00
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/news/people-moves/finom-appoints-tijana-kovacevic-chief-people-officer-lead-talent-strategy-during
Financial IT

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