iDenfy, a global RegTech startup offering AI-based ID verification and fraud prevention tools, announced partnering with Syntropy, a Web3 network software and real-time blockchain data company. iDenfy will be responsible for ensuring Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance by providing swift identity verification checks for Syntropy’s clients and partners. 

Technology markets are consistently expanding, and, according to Syntropy, addressing issues related to latency has become increasingly crucial. According to Gartner's findings, network downtime results in an average cost of $5,600 per minute for enterprises. This translates to a staggering expense of more than $330,000 per hour. As claimed by the Web3 enterprise, various industries are affected, including gaming, software development, telecommunications, and more. 

By utilizing blockchain technology, Syntropy helps transform unused bandwidth into a tokenized resource. This resource can then be traded in real-time whenever needed. The medium of exchange for these transactions is $NOIA, which is Syntropy's native ERC-20 token. Currently, Syntropy's goal is to assist digital service providers that struggle to manage data demands during peak Internet usage periods. 

According to the company's perspective, Syntropy’s team addresses this challenge by converting the public Internet into a secure and user-focused network. They achieve this transformation through a unified layer incorporating encryption and optimized performance. This layer is automatically activated for all connected devices and services, aiming to enhance security and performance simultaneously.

The key contrast between a centralized approach and a decentralized Web3 approach is evident in Syntropy's goal of establishing an open connectivity system. In this system, any individual has the ability to link their device to the mesh network and function as a relay point for transmitting data. This concept is significant as Syntropy's objective is to construct a network composed of interconnected networks instead of constructing an isolated private network.

Syntropy's ecosystem is a vibrant mix of developers, applications, data publishers, and end-users. According to the business, it's an environment committed to democratizing blockchain data access for everyone. However, along with that, Syntropy’s team wanted to accelerate and automated compliance processes. This required looking for a new KYC/AML service provider. 

Given the importance of compliance and data protection, Syntropy aimed to ensure that its services met the highest security standards, including effective KYC/AML verification. To address this, Syntropy implemented iDenfy’s AI-enabled identity verification solution, along with built-in AML checks, lessening the operational burden and maintaining alignment with regulatory requirements.

As claimed by iDenfy, speed and convenience are paramount to customer experience, which was also a core focus for Syntropy when searching for a KYC solution. iDenfy’s four-step verification flow enables fast background checks, eliminating fraudulent identities and onboarding legitimate customers in less time. Additionally, the newly integrated AML screening and ongoing monitoring services will help detect sanctioned entities, PEPs, and blacklisted persons from global watchlists, preventing Syntropy from collaborating with unwanted individuals.

iDenfy’s solution has already helped Syntropy build an automated document verification and a fully streamlined KYC workflow, facilitating a frictionless user experience. iDenfy’s team assures that this switch will also increase Syntropy's conversion rates. 

“Our fraud prevention platform is designed to cater to businesses of all sizes and intricacies, including innovative companies like Syntropy. We’re excited to partner with them, helping the Web3 environment ensure security and effortless scalability through our robust KYC/AML solutions,”  — expressed Domantas Ciulde, the CEO of iDenfy. 

ZetaChain, the layer-one blockchain that brings universal interoperability to crypto, has closed a $27 million equity funding round from a range of top participants. The participants in the equity round include Blockchain.com, Human Capital, VY Capital, Sky9 Capital, Jane Street Capital, VistaLabs, CMT Digital, Foundation Capital, Lingfeng Capital, GSR, Kudasai, Krust, and others.

ZetaChain started in 2021 and has close to 150 contributors from all over the world. Some of the core contributors include Ankur Nandwani (ex-Coinbase, Brave, 0x, and co-founder of Basic Attention Token), Panruo Wu (early contributor to THORchain), and Brandon Truong (ex-BuzzFeed, Udacity, Yada). Other core members include former employees of Cosmos, Ignite, Consensys, and multiple other blockchain projects.

ZetaChain’s mission is to establish a new standard for blockchain interoperability and enable users to manage all of their assets and data from a single platform, regardless of the blockchain they were created or stored on and without the need for bridges or wrapped tokens. This includes non-smart contract chains like the Bitcoin network and Dogecoin. Standardized interoperability provides developers with significant advantages as they can manage a single contract for all chains and reduce the attack surface. ZetaChain’s Ethereum Virtual Machine compatible smart contract layer and omnichain toolkit empower developers to seamlessly implement Bitcoin smart contracts. This unlocks a whole world of users who were previously solely in Bitcoin, enabling them to utilize their Bitcoin within the broader DeFi ecosystem.

The ZetaChain ecosystem is thriving, with more than 27,000 dApp contracts currently deployed on the platform. These represent a diverse range of third-party decentralized applications, including cross-chain DeFi, NFTs, universal web3 social, identity, and gaming protocols. Already, more than 1.7 million users have participated on the ZetaChain testnet, which has seen over 13 million transactions completed to date.

“ZetaChain’s purpose is to simplify managing assets and data across multiple blockchains, which remains a complicated and fragmented process that’s hindering hundreds of millions of new users joining the web3 ecosystem,” said Ankur Nandwani, ZetaChain core contributor. “Our EVM-compatible cross-chain smart contracts alleviate these issues by allowing decentralized app developers to build services that are faster, more secure, and easy to use.”

NCR Corporation, a leading enterprise technology provider, today announced it has expanded its partnership with Kiwibank, the largest New Zealand-owned bank. NCR will run the bank’s ATM fleet through its ATM as a Service solution, and Kiwibank’s 200+ ATMs will be incorporated into NCR’s Allpoint Network in New Zealand.  

Kiwibank initially partnered with NCR to enhance the capabilities and performance of its ATMs through NCR’s managed services and solutions 11 years ago. By expanding the relationship to include ATM as a Service, NCR will take on operational management and maintenance of both in-branch and offsite ATMs. 

Kiwibank customers will still be able to access all the same features they currently have today, as well as continuing to enjoy fee-free ATM transactions at Kiwibank ATMs. In 2024, Kiwibank customers will gain access to NCR’s Allpoint Network in New Zealand, which offers surcharge-free access to Allpoint ATMs nationwide.

“This move is part of our exciting multi-year transformation of our products, services, and technology to meet the needs of our customers. Adopting NCR’s ATM as a Service solution means that our customers are one step closer to the experts who will operate and manage the ATMs, enabling our customers to benefit from innovation faster,” said Kiwibank’s Chief Customer Officer, Retail, Mark Stephen.

“We are proud to expand our partnership with Kiwibank, allowing them to offer robust self-service transaction capabilities to customers both in branch and out in the community,” said Stuart Mackinnon, EVP, ATM Group, NCR Banking. “This move marks significant growth for NCR in the New Zealand market, and we look forward to helping financial institutions optimize their physical ATM networks while widening consumers’ access to cash.”

Dock, a B2B technology company for payments and banking, announced today that Tenpo, Chile's largest digital bank with more than 2.2 million customers, is now a customer of the Brazilian company. Dock's expertise and infrastructure is behind the issuing and processing technology that Tenpo is using for its recently launched credit cards. The customer acquisition marks a major step in Dock's Latin American expansion.

Chile is the ninth market for Dock, which currently operates more than 70 million active accounts and processes more than $240 billion annually. In addition to Brazil, the company operates in Mexico, Argentina, Colombia, Ecuador, Peru, Panama and the Cayman Islands. Dock's expansion in Latin America is part of the company's plan to tap a potential market of $16 billion for Banking as a Service and $2.5 billion in card processing.

"With experience acquired in Brazil, a world leader in payments, we are now able to replicate our financial services advancements across Latin America. Considering the particularities of each country, everything we do in the Brazilian market is 80 to 90% replicable. Our deep knowledge of this space allows us to expedite the availability of banking and payments technologies in other regions," said Antonio Soares, CEO of Dock.

Tenpo's credit card will allow the Chilean company to compete directly with traditional players in the banking sector. With this launch, fintech has positioned itself as the most important digital bank in Chile, with a complete offering of financial products and services.

"This milestone represents the result of the hard work of the entire Tenpo team and the consolidation of our company as a relevant player in the Chilean financial market. With the new credit card, we seek to fulfill our disruptive banking objective and compete side by side with traditional institutions. Today in Chile there is no digital account that offers this full range of financial products and services in such a personalized, secure and 100% digital way as Tenpo," said Fernando Araya, Co-Founder & CEO of Tenpo, who expressed his enthusiasm about this new stage.

For more than 20 years, Dock has been working to democratize access to financial services, promoting the inclusion of the un- and under-banked. In 2022, its market value rose to $1.5 billion after receiving $133.6 million in its most recent funding round.

The British Business Bank has appointed Esi Eshun OBE as its new General Counsel and Company Secretary, effective from November 2023.

Esi joins the British Business Bank from UK Export Finance, the UK’s export credit agency and a government department.  In recent months, Esi has been the Interim Director of Business Group with oversight of the department’s underwriting, origination, marketing, and communications, and also a member of its Executive Committee. 

Her substantive role at UK Export Finance is Director of Legal & Compliance, which has given her strong experience across a wide range of legal matters – including transactions, combatting fraud and corruption, and both private and public law litigation.  Esi is one of the most senior lawyers in the public sector.

Esi began her career in law at Simmons and Simmons and in addition to her legal qualifications, holds a masters level degree in Geological Sciences from Exeter College, University of Oxford.

Esi Eshun commented: “I am delighted to have the opportunity to lead the legal and company secretary functions at the British Business Bank and partner with the CEO and Executive team. I look forward to joining the legal team, working with the business to optimise support for smaller businesses and deliver the Bank’s goals of driving sustainable growth, backing innovation and unlocking potential, whilst working to build the modern, green economy.”

Louis Taylor, Chief Executive Officer, British Business Bank said: “I’m very pleased to welcome Esi as our new General Counsel and Company Secretary. As one of the most senior and respected lawyers in government, and with a really strong business sense, Esi brings a wealth of relevant experience to the British Business Bank, and I look forward to working with her as a key member of our Senior Leadership Team and Executive Committee.”

Esi succeeds the Bank’s former General Counsel and Company Secretary, Elizabeth O’Neill who left the Bank in July.

We are delighted to announce the forthcoming  The FinTech Festival Asia 2023,  a highly anticipated event set to showcase a dynamic array of industry trailblazers. This event is held to unveil an exciting lineup of industry luminaries, offering an immersive exploration of the fintech landscape on September 27th and 28th at the prestigious Royal Paragon Hall in Bangkok, Thailand. At the heart of this flagship event lies a convergence of visionary thinkers, thought leaders, and seasoned experts, all united to collectively influence the direction of finance and technology.

Day 1 Agenda - September 27, 2023

The inaugural day of the festival boasts a dynamic array of sessions designed to inspire, educate, and spark insightful conversations among attendees. The festivities commence at 9:50 AM with a thrilling Opening Ceremony, signaling two days of in-depth discussions.

10:00 - Section: The Role of AI and Machine Learning in Fintech

Embarking on the exploration of AI and machine learning in fintech, this section showcases an impressive lineup including Mirko Twardy, Anil Pinapala, Rosalia Gitau, Daniel Minarik, and David Pan. These industry leaders will provide unique insights into the transformative effects of AI and machine learning during a panel discussion that delves into the intricacies of their integration.

12:00 - Section: The Future of Payments: Digital Assets Transforming the Industry

The afternoon session shifts focus to the future of payments, featuring luminaries such as Topp Jirayut Srupsrisopa, Ryan Liew, El Lee, and Daniel Lee. A subsequent panel discussion promises to dissect the impact of digital assets on the payments landscape, shedding light on the evolving financial paradigm.

13:50 - Section: Analyzing Cryptocurrency's Geopolitical Implications

Cryptocurrency's global significance takes the spotlight, with thought leaders including Nicole Nguyen, Jerome Wong, and Eduard Melkostupov leading a discussion that delves into the geopolitical dimensions of cryptocurrencies and their potential to reshape international relations.

15:10 - Section: The Intersection of Privacy and Cybersecurity

Leading the discourse on privacy and cybersecurity is Shakil Muhammad, PhD, who will guide a panel discussion on navigating the intricate balance between user privacy and robust cybersecurity measures.

16:50 - Section: Digital Assets and Investments

The day concludes with a deep dive into digital assets and investments, featuring experts such as Eric SayWei Neo, Belinda Lim, Amie Lin, and more. Attendees can anticipate an insightful dialogue on the surging interest in cryptocurrencies and its implications for the fintech sector.

Day 2 Agenda - September 28, 2023

The second day of the FinTech Festival Asia 2023 is set to build upon the energy and momentum of the first, fostering an environment of collaboration and innovation.

10:00 - Section: Emerging Investment Trends in Asia

Day two commences with a compelling panel discussion on emerging investment trends in Asia, featuring industry veterans including Thomas Kung, Vanessa Chin, L.Chris Lu, Jonathan Phay, and Alice Chen.

11:40 - Section: Blockchain and Gamification

The following section explores the intersection of blockchain and gamification, delving into the potential of gamification to enhance user engagement and retention.

12:00 - Section: Smart Contracts in Fintech

Smart contracts take center stage, as Damian Bunce, Ji Sheng Tan, Julian Kwan, and others discuss their potential to revolutionize fintech through streamlined automation.

13:50 - Section: The Future of Digital Banking

The future of digital banking assumes prominence, as Deepshikha Chaudhary, Rabya Anwar, Juthasree Kuvinichkul, and Ahmed Saleemi share insights amid the ever-evolving financial landscape.

15:10 - Section: Fostering Fintech Innovation

Innovation is the focal point as Lyn Kok, Ken James Berey, Ashley Thomas, Chonladet Khemarattana, and Pornbhuda Rijiravanich engage in a discussion about the indispensable infrastructure and regulatory support required to propel fintech innovation.

16:50 - Section: FinTech's Role in Cross-Border and Domestic Payments

The event culminates with a panel discussion led by Ramakrishnan TG, examining how FinTech innovations facilitate seamless cross-border and domestic payments while upholding regulatory compliance and security.

The FinTech Festival Asia 2023 is proudly powered by Exness, a pioneering global multi-asset broker founded in 2008. Renowned for its commitment to ethical and innovative marketplace solutions, Exness stands as the industry's largest retail broker. The event benefits from Exness' unwavering dedication to shaping the future of finance through technological excellence and global collaboration.

As a top-notch event to attend, FinTech Festival Asia 2023 aims to cater to a growing market for fast payments, digital advancements, and the future of finance. There are a variety of opportunities at this event, whether you are hoping to meet individuals who share your interests, learn about trading, web3, robotics, or artificial intelligence, or gain insights from industry leaders. Buy your tickets now for the Fintech Festival Asia at https://fintechfestival.asia . A Standard Ticket will cost USD 77, a Business Ticket will cost USD 210, and a VIP ticket will cost USD 456.

OT cybersecurity platform vendor Radiflow announced today a partnership with Taiwanese vendor CyCraft, a company focused on generative AI detection, investigation, and response to nation-state-sponsored APTs (advanced persistent threats). The partnership leverages over 20 years of real-world threat intelligence from both East and West. 

Radiflow’s collaboration with CyCraft is a new addition to its roster of integrations that includes Fortinet and Palo Alto Networks’ firewalls, as well as the Cisco ICE Network Access Control (NAC) solution. These collaborative efforts serve as a testament to Radiflow’s commitment to providing a comprehensive and effective OT cybersecurity solution.

By harnessing the power of generative AI, this partnership unlocks untapped, unlimited detection and response capabilities for enterprise customers, MSSPs (managed security service providers), and MDRs (managed detection and response) against increasingly sophisticated attacks targeting OT (operational technology) assets. CISOs today are up against an evolving range of attacks, and their network devices, burdened with outdated and end-of-life software, are often left exposed. 

Further exacerbating the problem, these devices cannot be taken offline for critical upgrades or security patches, leaving them exposed to a range of threats including both zero-day and publicly known attacks. Many of these intrusions can be traced back to theft of credentials or other network penetration techniques that result in a significant loss of data or ransomware that leads to a total lockout.

To address these issues, Radiflow entered this partnership to integrate extended network monitoring to the endpoints, leveraging CyCraft’s advanced threat hunting and investigation capabilities to real-time contain breach impact and stop repeat attacks. The deal ensures that end users can refer to a single pane of glass without third-party integration work which often adds friction to deployment and operation.

‘The collaboration between CyCraft and Radiflow isn’t merely transactional; it’s transformative,’ said Benson Wu, CyCraft’s co-founder and CEO. ‘By synergising our strengths, we’re poised to offer unparalleled cybersecurity solutions that address not just present challenges, but anticipate future ones. Our customers stand to benefit from the best of both worlds.’

‘With integrated and tested joint solutions, we can recognise greater security across the facilities we rely on most,’ said Ilan Barda, co-founder and CEO of Radiflow. ‘Combining our iSID with CyCraft tools addresses the challenges of securing OT networks against the evolving attacks while ensuring that the deployment of such solutions can be done in a smooth manner.’

An overlooked but critical use case for the CISOs and their boards is to anticipate regulators raising the bar. The announcement said that ‘We are seeing behind-the-scenes regulatory breach investigations demand evidence-backed incident response in minutes, not days. This emerging need for near real-time, root cause analysis serves as the bedrock for innovation this partnership brings to the market.’

 ‘As an industry, it is unthinkable, unacceptable to carry on from detect to response without knowing root cause real-time’ according to Chris Chen, CyCraft’s CCO. ‘Adversaries will expect cyber defenders to be ill-prepared and ill-equipped to stop attacks. Together, let’s prove them wrong.’

Earlier this month, Radiflow announced that its CIARA Risk Assessment and Management solution has been featured in Gartner hype cycle solutions research. The analyst firm recognises the increasing risk to cyber-physical systems (CPS) and is highlighting Radiflow’s risk assessment and management solution.

Ncontracts, the leading provider of integrated compliance and risk management solutions to the financial industry, has successfully completed its Statement on Standards for Attestation Engagements (SSAE) 18 audit, distinguishing its adherence to the latest standards for Service Organization Controls (SOC) 1 Type II and SOC 2 Type II. 

Additionally, the company has earned its National Institute of Standards and Technology (NIST) 800-53 Security Framework Certification. These rigorous accreditations demonstrate Ncontracts’ position as a trusted partner dedicated to security, compliance, and operational controls.

The SSAE 18 is an independent audit standard that provides an objective assessment of Ncontracts’ internal operations to assure clients the company can safely and consistently deliver effective risk management services and software. A properly conducted SSAE 18 audit establishes the right controls are in place to secure data, maintain availability, protect processes, and ensure compliance and confidentiality. The SSAE 18 also requires written attestation from management that system descriptions are true and complete, providing additional assurance by creating liability and pressure for management. 

The NIST 800-53 security framework provides comprehensive and detailed guidance on selecting, implementing, and managing security controls for information systems. Primarily used by U.S. federal government agencies and organizations that work with the government, it has become a widely accepted standard for private sector organizations, providing a comprehensive and well-structured approach to information security. By obtaining this latest certification, Ncontracts enhances its security posture by demonstrating enhanced risk management and compliance and an improved incident response and recovery approach.

“As compliance and risk become paramount for organizations across all industries, we encourage financial institutions to seek out third-party vendors that demonstrate a commitment to the latest standards,” said Michael Berman, CEO of Ncontracts. “These latest accreditations demonstrate our position as a reliable partner and our dedication to delivering superior solutions our clients can trust.” 

Ncontracts conducts comprehensive audits by independent auditors over several months, culminating with an onsite audit to authenticate the effectiveness of policies and controls to ensure the highest quality.

Larky, the market leader in account holder engagement technology, and Mahalo Banking, a CUSO that provides online and mobile banking solutions for credit unions, today announce an expanded partnership that enables all Mahalo clients to benefit from Larky’s nudge® platform and embeds the power of Larky’s innovative engagement technology in Mahalo’s comprehensive digital banking suite.

In response to the escalating demand for seamless digital interfaces, Larky and Mahalo Banking are harnessing their shared expertise in account holder engagement and state-of-the-art banking technology. Larky's nudge® platform will now be integrated into Mahalo’s online banking platform and will also be featured in all new client engagements and renewals. Larky's platform complements Mahalo’s digital banking suite by prompting account holders to engage with the services that fit their unique financial needs, directly from their mobile devices.

”The continued demand for mobile banking has underscored the necessity for targeted engagement campaigns to help credit unions foster stronger relationships with their members,” said Denny Howell, co-founder and COO of Mahalo. “Our partnership with Larky enables us to offer our credit union clients an invaluable tool for member engagement, at a time when the market needs new approaches to nurture and grow depositor relationships.”

With the inclusion of Larky’s nudge® platform, account holders can now receive notifications that guide them to their financial institution’s offerings as well as contextually relevant branch information. The partnership also provides access to analytics and A/B testing, enabling institutions to use exportable, user-level data to see how their campaigns are performing, and revise them in real-time. In addition, Mahalo's clients can leverage Larky's nudge® Score, a unique feature that uses artificial intelligence to predict the performance of a new push notification, making it simple and easy to send out a high-performing new campaign in a few clicks.

“We’re thrilled to expand our partnership with Mahalo, opening doors for their clients to harness the power of our nudge® platform’s tailored and proactive engagement capabilities,” said Scott Brown, Larky’s VP of Growth. “This reinforced partnership interweaves the unique assets of both organizations, bolstering the digital banking landscape for consumers and fostering expansion for community-based financial institutions.”

With a shared vision and the aid of innovative technology, Mahalo and Larky are reshaping the digital banking experience to be more personalized, proactive and precisely aligned with the unique needs of credit unions and their members.