RegTech Insight Financial Crime, KYC & AML The latest content from across the platform
LexisNexis Scoops Up Crime and Onboarding Specialist TruNarrative
LexisNexis Risk Solutions UK has swooped in to acquire TruNarrative, a Leeds-based provider of financial crime and client onboarding solutions. The deal widens the scope of LexisNexis capabilities to include corporate customers as well as financial services firms of all types. TruNarrative, founded in 2016, provides a cloud-based orchestration platform that allows for simplified and…
Clausematch Survey Shows Acceleration in RegTech Uptake
Financial institutions accelerated spending on regulatory technology during the pandemic, a survey of almost 40 organisations conducted by Clausematch has found. The survey also suggested that practitioners would like to see regulators take a more proactive role in promoting the adoption of technology in compliance. More than 42% of survey respondents witnessed sharp rise in spending…
HWM Group Acquires Koger Assets to Expand Fund Admin, Regulatory Offerings
HWM Group, a Dublin-based provider of investor services and regulatory solutions to alternative and retail fund administrators, has acquired the assets of Koger Inc., a global supplier of fund administration software. The acquisition strengthens HWM’s offerings in the fund administration and transfer agency technology space, allowing it to offer expanded fund administration and regulatory compliance…
SETL Launches Verafide Digital Credentials Platform for KYC, Other Verification Challenges
Blockchain operator SETL’s Verafide subsidiary has launched its open-source platform for verifying digital credentials and identification on the SETL enterprise blockchain, allowing issuers, holders and verifiers to set up and maintain a digital credentials ecosystem. The Verafide platform is aimed at helping firms fulfill their KYC obligations, adopt more seamless and transparent customer onboarding processes…
New Approaches to Surveillance and Due Diligence Post-Pandemic Feature Heavily at A-Team’s RTSV Conference
Surveillance in the new ‘work from anywhere’ environment and the drift toward continuous KYC due diligence emerged as key industry challenges during panel sessions at A-Team’s RegTech Summit Virtual online conference earlier this month. Delegates heard how surveillance professionals were struggling to deal with the mushrooming use of new collaboration channels and video-conferencing platforms. At…
Recorded Webinar: Fighting fraud and financial crime with RegTech
Financial fraud and crime continue to escalate causing significant damage to companies, countries and the global economy despite enormous efforts by firms and organisations in the financial services sector to identify and expel bad actors. As these bad actors use increasingly sophisticated techniques to break into financial institutions and extract both money and data, so…
Rising AML Costs Driven by Regulatory Initiatives Rather than Crime Threat, LexisNexis Survey Finds
Regulation itself is the primary driver behind an expected rise to £30 billion in UK financial institutions’ annual AML costs to £30 billion by 2023, a survey from LexisNexis Risk Solutions has found. The increase, from £28.7 billion in 2020, appears set to be invested in personnel rather than technology, however, with the survey –…
Lexis-Nexis Financial Crime Report Urges Multi-Layered Approach to Compliance, ID Proofing
Adopting a multi-layered approach to financial crime compliance and identity proofing is an essential best practice for financial institutions seeking to protect themselves from fraud and other criminal activities. That’s among the key findings of this year’s edition of LexisNexis Risk Solutions’ annual True Cost of Financial Crime Compliance Global Report. The report – based on…
The Great and the Good Gather for A-Team’s RegTech Virtual Event This Week
The global RegTech community gathers virtually this week for A-Team’s RegTech Summit Virtual, which kicks off on Wednesday. Over its two-day programme of must-attend sessions, the conference will offer an assessment of the global RegTech landscape, plus discussions ranging from the ongoing regulatory reporting challenge, the emerging conduct compliance requirement, addressing financial crime and other…
Opsmatix Signs Partnership Deals with EEI, SHE as It Seeks to Automate Operational Workflows
Operations automation specialist Opsmatix has signed its third partnership agreement in two months, forging a relationship with Enterprising Engineering Inc. (EEI), a New York-based digital transformation consultancy. The deal follows partnership arrangements with Lysis for KYC off-grid workflow monitoring, and with New York sales accelerator Sand Hill East. Opsmatix’s SaaS platform uses AI to help…