RegTech Insight Financial Crime The latest content from across the platform

Upcoming Webinar: Client Experience and Onboarding For Transfer Agents: How to ensure you deliver a seamless client experience and differentiate your services

Date: 26 September 2019 Time: 10:00am ET / 3:00pm London / 4:00pm CET. Clients expect you to seamlessly deliver a range of transfer services. They expect you to delight their investors and ensure you have a robust onboarding and compliance process in place. They also want you to help them ensure they comply with shareholding…

Melissa Launches Mobile KYC App

Identity verification specialist Melissa has launched Melissa KYC, a mobile-based unified compliance toolset providing end-to-end identity verification including ID card and document authentication, biometrics, and liveness confirmation. The app claims to capture identity documentation in under three minutes using facial recognition technology, while its verification feature uses real-time, multi-sourced data to authenticate each submission.

RegTech Funding in India Quintuples

According to data provided by research and intelligence firm Tracxn, private investments into the Indian RegTech space have increased by over five times so far in 2019 to reach an estimated $43.5 million, compared to $7.26 million in 2018. Notable RegTech start-ups to receive funding include Simility, CrediWatch, Digio, Fintellix, DotAI, NextKYC, Credible Ninja and…

NICE Actimize Launches New Regulation BI Solution

On June 5, 2019 the US Securities and Exchange Commission (SEC) voted to approve the new Regulation Best Interest (BI), imposing rigorous new requirements to ensure firms are transparent and act in their clients’ best interest. Due to come into force on June 30, 2020, the new rule substantially upgrades existing suitability regulations to raise…

kompany Wins Successful Funding Round

Austrian banking group Raffeisen Bank International (RBI) via its corporate venture capital unit Elevator Ventures has joined UNIQA Ventures to invest in business verification and KYC provider kompany, while previous investors, including the European Super Angels Club (ESAC), have increased their stakes. kompany is an alumnus of the Elevator Lab Program and became a group…

ABN Amro Could Face AML Charges

ABN Amro has confirmed that it could face possible money laundering fines, following an order from the Dutch central bank to review all its transactions for possible money laundering or financial crime activities. The news comes after fellow Dutch bank ING was hit with a $900 million fine in September 2018 for similar issues.

Dubai Banks Launch New KYC Data-Sharing Platform

Dubai International Financial Centre (DIFC), Mashreq Bank and fintech firm Norbloc have teamed up to launch the Middle East region’s first blockchain-based KYC data-sharing consortium. The joint venture, expected to go live in Q1 2020, is designed to facilitate faster, more secure onboarding and exchange of supporting documentation via advanced distributed technologies, including blockchain. Companies…

ComplyAdvantage Expands with New York and London Offices

ComplyAdvantage, a UK-based regtech firm that uses data science and machine learning to neutralize the risk of global financial crimes, has opened new offices in both London and New York to service the growing demand for modern compliance solutions. The firm has opened commercial offices in Covent Garden, London and in Bryant Park in New…