In today’s top news in digital-first banking, global card issuing platform Marqeta debuted its Tokenization-as-a-Service (TaaS) offering, while the Bank of New York Mellon (BNY Mellon) has named a new executive for global market infrastructure. Plus, Jumio is strenghtening its anti-money laundering (AML) functions.
Marqeta Introduces Tokenization-as-a-Service For Card Issuers
Marqeta unveiled its new TaaS offering, which lets card issuers access its tokenization infrastructure. The new offering is available for every card type, with the inclusion of cards not issued on the company’s platform. It is harnessed to immediately provision cards into a digital wallet.
BNY Mellon Names Robin Vince To Lead Global Market Infrastructure
The Bank of New York Mellon (BNY Mellon) has named Robin Vince, a Goldman Sachs alum, as its new vice chair and chief executive officer of global market infrastructure as of Oct. 1. The executive will supervise the company’s Clearance and Collateral Management, Treasury Services, Markets and Pershing businesses in the new role. Previously, Vince served as chief risk officer for Goldman Sachs and served in other positions for years.
Jumio Bolsters Financial Crime Detection Capabilities With Beam’s AML Platform
Jumio is bolstering its AML functions, having announced a deal for Beam Solutions’ AML platform. Jumio said it intends to integrate the AML screening and transaction monitoring offerings of Beam into its KYX platform to assist in flagging financial crime and simplifying regulatory compliance. The news follows Jumio’s Sept. 16 rollout of KYX, with the firm pointing out that the new platform will help firms “easily verify user identities for onboarding, safeguard existing accounts and mitigate financial crime risk.”
FinCEN Director Tells Banks To Look Out For Crypto Fraud
Financial Crimes Enforcement Network (FinCEN) Director Kenneth A. Blanco said that banks have to be cautious about digital currency risks, according to remarks scheduled to be provided at the ACAMS AML digital conference on Sept. 29. FinCEN is geared toward different types of cybersecurity and cyber risks. The agency has been holding its “Innovation Hours Program” as of May, in which it invites companies to present new offerings that are being adopted in the finance sphere.