Due diligence fintech spektr launches
Finextra
FEBRUARY 20, 2024
Danish startup spektr has raised EUR5 million in seed funding for its platform to help financial sector firms with their due diligence processes.
Due Diligence Related Topics 
There’s No Excuse for Lazy Customer Due Diligence Anymore, Says Trapets
The Fintech Times
MARCH 4, 2024
They underestimate the investment they need to make in customer due diligence: Know-Your-Customer ( KYC ), monitoring transactions for foul play, and meeting regulations. They overlook the harder aspects of due diligence that aren’t easily automated. But they still make some age-old mistakes.
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Cytora partners with AI-powered due diligence company Xapien
Finextra
AUGUST 9, 2024
Cytora, the leading digital risk processing platform, has partnered with AI-powered due diligence company Xapien.
The importance of KYC and Due Diligence in business
Finextra
JULY 15, 2024
KYC (Know Your Customer) and Due Diligence are key elements for the successful operation of any busi.
ABN Amro Bank goes live with CBA’s Ibas transaction due diligence software for trade finance
Finextra
AUGUST 20, 2024
Norwegian software vendor Commercial Banking Applications AS (CBA), today confirmed that ABN AMRO Bank has gone live using the comprehensive Transaction Due Diligence (TDD) functionality now available within CBA’s IBAS GBF - Global Banking Factory.
Grasshopper picks Greenlite AI-enhanced due diligence suite
Finextra
FEBRUARY 13, 2024
Grasshopper, the client-first digital bank built for the business and innovation economy, and Greenlite, the leading generative AI platform for compliance teams, today announced their partnership to leverage Greenlite’s AI-enhanced due diligence suite to bolster Grasshopper’s risk decisioning proficiency for small and medium-sized business (SMB) and (..)
Grasshopper taps Greenlite for AI-powered due diligence
Finextra
FEBRUARY 14, 2024
Grasshopper, the client-first digital bank built for the business and innovation economy, and Greenlite, the leading generative AI platform for compliance teams, today announced their partnership to leverage Greenlite’s AI-enhanced due diligence suite to bolster Grasshopper’s risk decisioning proficiency for small and medium-sized business (SMB) and (..)
Former Citi and Google compliance expert Reno Mathews joins due diligence startup Spektr
Finextra
MARCH 6, 2024
Danish due diligence startup Spektr has hired former Citi and Google executive Reno Mathews as chief compliance officer.
DueDil partners Umazi for SME corporate due diligence
The Paypers
FEBRUARY 2, 2022
UK-based fintech DueDil has partnered with Umazi , an enterprise digital identity provider, to create a new onboarding standard for due diligence processes in the SME market.
RBI lets banks do their due diligence for virtual currencies
The Paypers
JUNE 4, 2021
The Reserve Bank of India (RBI) has notified banks and payment system providers that these are free to carry out their due diligence for customers dealing in virtual currencies.
Securing Your Wealth: How Cybersecurity Affects Investment Decisions
VISTA InfoSec
JUNE 26, 2024
As an investor, due diligence in cybersecurity involves examining several areas. Such due diligence is of interest to you as an investor because cybersecurity affects the following: Regulatory Compliance Businesses with strong compliance records are safer investments, capable of mitigating risks and sustaining growth.
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Accuity launches Bankers Almanac Enhanced Due Diligence for KYC risk assessment
The Paypers
JANUARY 14, 2021
Financial crime screening, payment services, and KYC solutions provider Accuity has announced the availability of Bankers Almanac Enhanced Due Diligence, according to the official press release.
Afreximbank launches due diligence data platform Mansa
The Paypers
JULY 16, 2018
(The Paypers) The African Export-Import Bank Afreximbank has launched a pan-African customer due diligence platform “Mansa”, to facilitate African trade.
ADVANCE.AI Expands ‘Know Your Business’ Service in Singapore and Malaysia
Fintech News
AUGUST 1, 2024
This service aims to streamline business due diligence and compliance for financial institutions and SMEs, addressing counter-party risk, credit exposure, and compliance with anti-money laundering (AML) regulations. JewelPaymentech, acquired by ADVANCE.AI The post ADVANCE.AI
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Varo Bank selects Quantifind for AML and due diligence
The Paypers
JULY 23, 2021
Varo Bank has selected financial crime investigation firm Quantifind ’s Graphyte platform to optimise its adverse media screening and investigations automation performance.
FINMA updates due diligence requirements for digital onboarding
The Paypers
FEBRUARY 19, 2018
(The Paypers) The Swiss Financial Market Supervisory Authority FINMA has announced several updates on the due diligence requirements for digital onboarding to reflect advances in technology.
BofA says U.S. may take action over money laundering, Zelle
Bank Automation
OCTOBER 31, 2024
Regulators may issue public orders after examining the firm’s compliance programs “including transaction monitoring, training, governance and customer due diligence,” […] The post BofA says U.S. Bank of America Corp. may take action over money laundering, Zelle appeared first on Bank Automation News.
M&A: nCino to acquire FullCircl for $135M
Bank Automation
NOVEMBER 1, 2024
The acquisition will create an entity that enables financial institution customers to “unify and intelligently manage the entire client lifecycle across information intake, document collection and customer due diligence in one place, regardless of the entity’s complexity,” Pierre […] The post M&A: nCino to acquire FullCircl for $135M appeared (..)
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52 Merger and acquisitions due diligence reveals cybersecurity risks
The Paypers
AUGUST 1, 2016
(The Paypers) A research compiled for West Monroe Partners by Mergermarket has revealed that merger and acquisitions (M&A) due diligence often reveals cybersecurity risks.
Lending Life Cycle Management: Challenges and Best Practices
Finezza
APRIL 9, 2024
It involves due diligence regarding customer background by the lenders, regulatory compliance, and financial processes for the lender. The lending life cycle consists of all activities that begin at the loan application stage and culminate with the final repayment.
FE fundinfo buys AdviserAsset
Finextra
SEPTEMBER 12, 2024
FE fundinfo, a leading financial data company connecting the asset management industry to wealth management networks in the UK, Europe and Asia, today announced the further expansion of its comprehensive suite of products for UK advisers with the acquisition of due diligence and product selection tool provider, AdviserAsset.
BeZero Carbon and Emirates NBD to provide ratings of carbon credits to climate investors in the Gulf
Finextra
AUGUST 19, 2024
Global carbon ratings agency, BeZero Carbon, has partnered with Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, to support its carbon due diligence efforts and scale the nascent UAE carbon market.
Behind the Idea: Portend
The Fintech Times
MAY 30, 2024
Julie Cunningham is the founder of Portend , a compliance-as-a-service platform providing due diligence on investments into startups. We are working vehemently to fine-tune our technology to provide a seamless real-time due diligence tool which is effective, efficient and does not miss any detail.
Introducing Fraud Files: FloQademy’s First-Ever CPE Eligible True Crime Podcast
FloQast
MAY 2, 2024
Listeners gain valuable lessons in ethics, due diligence, and professional skepticism, making it a compelling exploration for finance professionals. More than a narrative of past misdeeds, “The Fraud Files” offers insights into the mechanics of fraud and its consequences.
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The Perils and Promise of Using Generative AI for KYC Screening
Finextra
SEPTEMBER 12, 2024
As the COO of smartKYC, I've been at the forefront of innovation in due diligence and Know Your Cus
Know Your Customer (KYC): What It Is and How to Comply
Stax
NOVEMBER 27, 2023
KYC’s three main components are the customer identification program (CIP), which was imposed by the USA Patriot Act in 2011; customer due diligence (CDD); and regular monitoring of the customer’s account and activities, which is also called enhanced due diligence (EDD). In the U.S., Contact us for a free demo today.
Ncontracts Acquires Third Party Risk Management Company Venminder
Finovate
SEPTEMBER 4, 2024
With Venminder, firms can manage vendors, track contract data, perform due diligence and oversight, send and score questionnaires, conduct risk assessments, systemically monitor risks across domains, order due diligence assessments on vendor controls, and more.
Building a Comprehensive Third-Party Oversight Framework
Innovative Payments Association
SEPTEMBER 5, 2024
To mitigate these risks and ensure proper oversight of third-party relationships, it is crucial for organizations to go beyond traditional due diligence and establish a comprehensive third-party oversight framework.
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European Fintech Funding: Zilo nabs $31M in series A
Bank Automation
JANUARY 25, 2024
Venture funding fell in 2023 as investors took uncertain macroeconomic conditions into account and doubled down on due diligence. Global venture funding in 2023 stood at $248.4 billion, down 42% year over year, its lowest point since 2017, according to a Jan. 4 State of Venture 2023 report by business analytics provider CB Insights.
Tech leader at Starling Bank to speak at Bank Automation Summit Europe 2024
Bank Automation
JUNE 26, 2024
Zahra Gill, head of enhanced due diligence and financial crime strategy and change lead at Starling Bank, will speak at Bank Automation Summit Europe 2024 about the AI revolution in banking. The summit, taking place Oct.
Payouts Network Expands Executive Team With CFO Jon Anderson
Fintech Finance
OCTOBER 24, 2024
Previously, he served as Senior Vice President and Corporate Controller at Netspend, where he played a pivotal role in the company’s initial public offering (IPO), overseeing SEC financial reporting and collaborating with underwriters on due diligence.
FCA Warns Crypto Firms Over Compliance Failures, Highlights Concerns Around ‘Stable’ Cryptoassets
The Fintech Times
AUGUST 11, 2024
While some firms demonstrated good practices, many fell short of the required standards, especially in their approach to due diligence on so-called ‘stable’ cryptoassets. The poor In contrast, firms displaying the poorest practices failed to implement robust due diligence processes.
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MAS Seeks Feedback to Close Regulatory Gaps for Crypto Service Providers
Fintech News
OCTOBER 8, 2024
These include maintaining a minimum capital of S$ 250,000 and adhering to stringent AML/CFT obligations, such as conducting customer due diligence, monitoring transactions, and reporting suspicious activities. MAS’ proposed regulatory amendments Once licensed, DTSPs will be subject to ongoing compliance requirements.
ABN AMRO goes live with CBA's TDD available within IBAS
The Paypers
AUGUST 20, 2024
Netherlands-based ABN AMRO has announced that it went live leveraging Commercial Banking Applications ’ (CBA) Transaction Due Diligence (TDD) functionality.
iDenfy Launches Face Authentication to Weed Out Fraudsters in User Onboarding
The Fintech Times
AUGUST 30, 2024
However, they must do their due diligence too, especially in the age of deep-fakes. This ongoing due diligence process is crucial to ensure that businesses continue to meet know your customer (KYC) regulatory requirements.
FCA Dear CEO letters outline APP fraud reimbursement expectations
Neopay
OCTOBER 10, 2024
Customer Due Diligence (CDD) controls at onboarding and ongoing monitoring The effectiveness of Customer Due Diligence (CDD) controls remains critical, especially when onboarding new clients.
smartKYC secures ISO27001 certification
The Paypers
JUNE 18, 2024
UK-based Know Your Customer (KYC) due diligence automation platform smartKYC has announced that it secured ISO 27001 certification for information security.
Crypto bank Anchorage ordered to revamp AML program
Payments Dive
APRIL 25, 2022
The Office of the Comptroller of the Currency said the bank — the first crypto firm to receive a national trust bank charter in January 2021 — must overhaul its anti-money laundering program after failing to implement internal controls for customer due diligence and procedures for monitoring suspicious activity.
Change in Control: what you need to know
Neopay
JUNE 3, 2024
Key considerations for a successful CiC Due Diligence : Prior to pursuing a CiC, thorough due diligence is essential. Prospective acquirers must present a compelling case to the FCA, backed by thorough due diligence and clear, evidence-based rationale.
DueDil, nCino allow FIs easy due diligence checks and risk mitigation
The Paypers
AUGUST 10, 2021
Intelligence platform DueDil has announced a new collaboration with nCino , a pioneer in cloud banking and digital transformation solutions for the global financial services industry.
iProov, NorthRow partner to facilitate customer due diligence
The Paypers
JUNE 11, 2020
Spoof-resistant biometric authentication technology company iProov has announced its partnership with regtech specialists NorthRow.
Two Sides to a Coin: February Sees ADGM Issue Regulatory Fines and Advance Innovation Ecosystem
The Fintech Times
FEBRUARY 12, 2024
The actions taken by the FSRA address failures (to the extent applicable in each case) to: follow due diligence procedures as required by the Regulations; keep records of the performance of due diligence; report required information in a complete and accurate manner; and/or submit the required annual information return.
LAB Group Integrates with CreditorWatch
The Paypers
MAY 7, 2024
LAB Group has announced that it has delivered a new integration with CreditorWatch to provide upgraded complex due diligence capabilities to LAB Network.
Mastercard Joins Buna, the Arab Regional Payment System
Fintech Finance
NOVEMBER 6, 2024
Buna’s compliance program integrates rigorous Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF), and sanctions screening protocols both before and after settlement, offering real-time monitoring and thorough due diligence to safeguard financial transactions.
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