RegTech Insight Financial Crime The latest content from across the platform

A-Team Group Releases Shortlist for 2019 RegTech Insight Awards

A-Team Group has released a shortlist of potential winners for its hotly anticipated third annual RegTech Insight Awards, to be held in the City of London on May 3, 2019. The awards recognise excellence and innovation in the provision of technology solutions to meet regulatory requirements within the financial services industry, and are uniquely designed…

Lack of Senior Management Buy-in is Prohibiting Digital Transformation, Finds Fenergo

Digital maturity is still a long way off for financial institutions, according to new research by Fenergo, provider of digital Client Lifecycle Management (CLM) software solutions for financial institutions. The findings of Fenergo’s CLM Report, which is the second in a three-part series, showed that fewer than half (40%) of the 250 financial institutions surveyed…

Beam Solutions Issues Warning on Insufficient AML Procedures Across EU Member States

Beam Solutions, a San Francisco-based transaction monitoring platform founded in 2016 by former Facebook and Paypal executives, has warned of widespread Russian money laundering within the EU banking system. In a note published March 18, the software company noted that multiple major European banks were facing allegations of failing to prevent money laundering taking place…

Tookitaki Raises $7.5m in Series A Funding

Tookitaki, a regulatory technology company that aims to enable financial institutions to develop sustainable compliance programs through the use of AI-based technology, has raised S$7.5 million in Series A funding. The round was co-led by London-based Illuminate Financial, an early-stage enterprise financial technology investor, along with Jungle Ventures, a Singapore-based VC firm focused on technology…

How to Optimize Suitability Solutions Amid Increasing Regulatory Confusion

Suitability is a hot topic – and an increasingly tricky one. The FCA suitability requirement (COBS 9), an obligation for all wealth managers in the UK, is relatively new in both the UK and wider Europe, and the existence of MiFID II has only served to further confuse the situation. As regulatory bodies around the…

SmartSearch Works Towards Client Integration

UK-based AML platform SmartSearch, which claims to be the only organisation in the UK with the ability to verify individuals and companies on a single platform via a browser or AP with full Sanction, PEP and adverse media screening, is working towards an integration-based model rather than use as a standalone system – and today…

Encompass Corporation and IHS Markit Partner to Chop KYC Time by a Third

IHS Markit has integrated a new KYC automation solution from London-based encompass corporation into its KYC Services offering, in a bid to reduce manual processes and drive efficiency. Using encompass, IHS Markit has fully automated the collection of critical KYC data from the public domain, including global corporate registries, regulatory listings and exchanges. As the regulatory…

FCA Highlights Key Concerns over MAR Compliance

Effective compliance with the Market Abuse Regime (MAR) is “a state of mind” that requires a series of complex situational judgements – and time pressures could cause potential problems, warned Julia Hoggett, Director of Market Oversight at the UK’s Financial Conduct Authority (FCA). This raises a number of key concerns around compliance which demand urgent…

KYC Global Launches World’s First Risk-Based Customer Screening Solution

KYC identification specialist KYC Global Technologies has launched a new batch screening tool for customer identification, which it claims to be the first in the world to offer a 3D risk-based approach. In addition to customising how the searching of a customer’s name and meta-data should be carried out according to the customer’s risk profile,…

RegTech Insight – Keeping Your Finger on the Regulatory Pulse

Welcome to Regtech Insight (RTI), a brand-new platform from A-Team Group bringing you the very latest in news, insights and exclusive analysis from the complex and fast-changing world of regulatory technology. Forming the third pillar of our comprehensive information service, RTI stands alongside Data Management Insight (DMI) and Trading Technology Insight (TTI) to offer a…