RegTech Insight Financial Crime, KYC & AML The latest content from across the platform
Entrust in Talks to Acquire AI-Powered Identity Verification Specialist Onfido
Entrust, a provider of trusted identities, payments, and data security, is in exclusive discussions to acquire London-based Onfido, a provider of cloud-based, AI-powered identity verification (IDV) technology. If the acquisition completes, Entrust would add a compliant AI/ML-based biometric and document IDV tech stack to its portfolio of identity solutions. It would also have an opportunity…
Themis Hosts Financial Crime Risk Management Cloud Service in Saudi Arabia
Themis, a financial crime technology company, has extended the reach of its financial crime risk management cloud service by hosting it in Saudi Arabia. The Themis service, situated in Jeddah, is purpose-built to meet the unique demands of the region and ensure it meets regulatory obligations around data sovereignty that require customer data to be…
S&P Global Market Intelligence Adds Quantifind Sanctions Screening Data to Entity Insights
S&P Global Market Intelligence has enhanced its entity due diligence platform, Entity Insights, with the inclusion of sanctions and adverse media screening data. The additional data is provided by Quantifind and enables users to screen more than 30 million entity records from more than 30,000 global sources to meet due diligence requirements and manage reputational…
Corlytics Reports Eye-Watering Fines for 2023 Regulatory Breaches
Corlytics, a provider of regulatory risk intelligence, has released an enforcement data report for 2023 revealing financial crime, data protection, and governance as the main risk categories for financial services with the highest penalties. Some $6.7 billion of fines were imposed for financial crime, most of which were for money laundering and terrorist financing. Looking…
Azentio Partners Regula to Automate Identity Proofing In Digital Onboarding Solutions
Azentio Software, a Singapore-based technology firm, has made a strategic partnership with Regula, a global developer of forensic devices and identity verification solutions, to improve its digital onboarding solutions. Two Regula solutions, Regula Document Reader SDK and Regula Face SDK, will be integrated with Azentio ONEBanking and Azentio ONECapitalMarkets platforms. Regula Document Reader SDK ensures…
Encompass Plans Corporate Digital Identity Platform Following Acquisition of CoorpID and Blacksmith KYC
Encompass Corporation, a provider of real-time digital Know Your Customer (KYC) profiles, has acquired CoorpID and Blacksmith KYC from ING to develop a platform that solves the critical challenge of identification and verification of corporate and institutional clients. ING will be a stakeholder and development partner to Encompass and will use the platform in the…
Quantexa Partners Anti-Human Trafficking Intelligence Initiative
Quantexa, a provider of decision intelligence solutions, has announced corporate sponsorship and advisory council membership of the Anti-Human Trafficking Intelligence Initiative (ATII). The ATII is a US-based non-profit organisation with a mission to fight human trafficking and child exploitation by providing data to advance the prevention, detection, investigation, and reporting mechanisms required to identify potential…
Refinitiv Releases Sub-Saharan Africa Financial Crime Report
Refinitiv, a London Stock Exchange Group business, has released the results of its second financial crime report for Sub-Saharan Africa. This year, the survey highlights trends including low awareness of third-party exposure, high demand for advanced compliance technology, emerging supply chain risks, and lack of digital identity solutions in Know Your Customer protocols. According to…
Stephan Wolf Steps Down from Role of GLEIF CEO in June 2024
Stephan Wolf, CEO of the Global Legal Entity Identifier Foundation (GLEIF), will step down from the role on 24 June 2024 after a decade of leading the foundation from its start-up phase to the growing organisation it is today. In a post on LinkedIn, Wolf writes: “After a decade of incredible experiences and achievements, I…
Regulated Firms that Don’t Trust Electronic Identification Verification Risk Financial Crime
More than 36% of people in regulated firms who ‘can’t trust’ electronic identity verification technology and instead rely on manual checks are leaving their doors open to financial crime, according to research by anti-money laundering specialist SmartSearch. This statistic, from SmartSearch’s 2023 annual survey of 500 compliance stakeholders across financial, accountancy, property and legal services,…