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In February 2024, Piermont Bank and Sutton Bank each became subject to consent orders issued by the Federal Deposit Insurance Corp.
BaaS, fintech, consent, regulation, AML
UK-based AML specialist SmartSearch has analysed global AML events and published a new report which showcases drug trafficking as one of the most prevalent issues.
report, AML, financial crime, cryptocurrency, fraud prevention
Switzerland-based Temenos has announced a partnership with Philippines-based Metropolitan Bank & Trust (Metrobank) to deploy Temenos Wealth.
partnership, banks, digitalisation, wealth management
Australia-based Avenue Bank has landed a full banking licence from Australian Prudential Regulation Authority (APRA).
SMEs, digitalisation, cash flow, banking license, banks
Temenos has announced that Šiaulių Bankas, the largest independently-owned bank in Lithuania, has chosen Temenos to modernise its core banking platform.
banking, partnership, digitalisation, SaaS, trade finance
Bruno Diniz, Managing Partner at Spiralem, discusses the rapid global adoption of blockchain solutions, bridging the gap between traditional finance and crypto-assets.
blockchain, CBDC, crypto asset, digital assets, digitalisation
Cryptocurrency exchange Binance has received approval from a US judge to pay USD 4.3 billion for violating anti-money laundering (AML) and sanctions laws.
AML, cryptocurrency, cryptocurrency exchange, regulation, KYC
Youth-focused neobank Muvin has announced its decision to shut down its operations, as a result of the RBI direction which forbade UPI in a co-branding deal.
regulation, banking, mobile banking, digital banking, online banking, financial services, financial institutions
MENA-based banking group Emirates NBD has partnered with Silent Eight, a fintech company that provides an AI and machine learning platform to detect and prevent financial crime.
partnership, machine learning, artificial intelligence, online security, online banking
Bitfinex Securies, a securities token platform, has expanded its operations to El Salvador as a licensed digital assets service provider.
cryptocurrency, digital assets, expansion, Bitcoin, regulation
Kurdistan International Islamic Bank (KIB) has integrated iMAL, an Islamic core banking platform from Azentio Software.
mobile banking, Islamic banking, partnership, compliance, AML, fraud prevention
Singapore-based payment solution provider AXS has partnered with Triple-A, a global digital currency payments institution, to allow for bill payments with digital currencies.
partnership, digital currency, payment methods, digital payments, mobile payments
Raidiam's Open Futurist, Marie Walker, anticipates the impact of eIDAS 2.0, emphasizing trust frameworks for secure cross-border data sharing in 2024.
Open Finance, Open Banking, open data, EIDAS, report
Trustly has announced the completion of its SlimPay acquisition, aiming to accelerate the development of the recurring payment landscape in Europe.
acquisition, banking, online banking, mobile banking, digital banking, financial services, financial institutions, recurring payments
US-based crypto custodian BitGo has obtained in-principle approval for a Major Payment Institution (MPI) licence in Singapore.
MPI licence, compliance, expansion, cryptocurrency
Amnon Samid, CEO of BitMint, an AI-Powered Cyber-Innovation Hub, tackles current cryptography-based digital currencies, that cannot serve as a means of better financial fairness and inclusion.
CBDC, payments , cash, digital currency, quantum computing, digital wallet, central bank, stablecoin, tokenization
IOSCO has stressed that operating as a DAO does not exempt entities from regulatory responsibilities, urging adherence to existing international policies for DeFi.
DeFi, regulation, compliance, cryptocurrency, blockchain
AUSTRAC has announced its regulatory priorities for 2024, detailing the plan to improve the financial system’s resilience to serious crimes.
regulation, AML, financial crime, banking, gambling, remittance
The European Central Bank (ECB) and the European Systemic Risk Board (ESRB) have published a joint report on climate change’s impact on the EU financial system.
report, risk management, green finance, financial institutions, banks
Saudi Central Bank has announced the issuance of Rules for Regulating Buy Now Pay Later Companies, as part of its role in supervising the BNPL companies.
BNPL, regulation, ecommerce, financial services, compliance