Tag: financial data

More than four out of five anti-money laundering and customer onboarding professionals simply use Google

While the growing number of money laundering scandals have confirmed the need to protect businesses against fraud, many analysts simply rely on Google. Having surveyed 156 anti-money laundering (AML) and know your customer (KYC) professionals, RegTech company Arachnys has revealed that 85% used Google for their due diligence or risk investigations. Moreover, 16% even stated…
Read more


24th March 2020 0

Giant Financial Institution, the BBVA, Asks Fintech Firms to Develop Regtech and Finance Solutions via its Open Talent Program

BBVA (Banco Bilbao Vizcaya Argentaria, S.A)., a Spanish multinational financial services company, is making changes to its Open Talent competition for early-stage firms and startups, in order to work cooperatively with Fintech businesses. BBVA is one of the world’s largest financial institutions. It offers services in Spain, South America, North America, Turkey, and Romania. The…
Read more


16th March 2020 0

Glasgow-based AutoRek Partners with Nationwide to Offer Data Management and Cloud-powered Financial Controls

Glasgow-headquartered AutoRek, a firm that provides financial controls and regulatory reporting software, has teamed up with Nationwide to offer a data management solution and cloud-powered financial controls for a three-year period, with a two-year extension plan. Gordon McHarg, managing director at AutoRek, stated: “I am really pleased to welcome an organisation of Nationwide’s calibre to our…
Read more


13th March 2020 0

Financial regulators address the economic & operational effects of COVID-19

Financial regulators across the globe have issued statements announcing precautionary measures to address the economic impact of the coronavirus (COVID-19), signalling a growing willingness to intervene. The Bank of Japan (BoJ), European Central Bank (ECB), UK’s Financial Conduct Authority (FCA) and the US Federal Reserve have all announced a range of measures that target the…
Read more


12th March 2020 0

SIX Group Selects Know Your Customer’s Solutions for Supplier Due Diligence

IX Group has selected Ireland and Hong Kong-based RegTech provider Know Your Customer to strengthen its procurement process and better assess the risk associated with its international suppliers. By utilising Know Your Customer’s due diligence platform, SIX Group is looking to increase the accuracy of its risk calculations on suppliers that provide services and products to…
Read more


9th March 2020 0

Deutsche Bank’s latest compliance failures risk post-Brexit ‘passport’: FT

Bank of England officials have voiced concerns that Deutsche Bank is failing to improve its anti-money laundering (AML) and compliance controls and have warned the German lender that it could lose access to the UK market following Brexit, the Financial Times reported Monday. The bank’s latest compliance troubles come four years after it was first…
Read more


5th March 2020 0

The impact of Brexit on the AML KYC Compliance and trade in the UK

AML/KYC screening is a mandatory part of the compliance operations of businesses. Nowadays every business is liable for some sort of KYC and AML compliance, and heavy non-compliance fines and penalties have left no choice but to invest in compliance. The regulations have changed and are more strict for financial institutions. Recently the EU implemented…
Read more


3rd March 2020 0

Right Here, Right Now: Taking Action On Financial Crime

If there is one truism about financial crime, it’s that the perpetrators are ever-present and ever-evolving. Just as technology has revolutionized banking and finance, so too has it given criminals more sophisticated tools. Indeed, as financial institutions work to keep pace with exponential technology advances, criminals seem to be pulling even—and in some cases, maybe…
Read more


2nd March 2020 0