September 06, 2023
Norway’s Strise Raises $10.8 Million to Expand AML Offering
Strise has raised $10.8 million to bring its anti-money laundering technology to new markets. London-based venture capital firm Atomico, which led the Series A round, announced the funding for the Norwegian company...
September 03, 2023
DOJ Seeks Jail Time for Ex-Wells Fargo Exec Over Fake...
Federal prosecutors want Wells Fargo’s former retail banking head to spend time behind bars. Carrie Tolstedt agreed earlier this year to plead guilty to obstructing an investigation into her bank’s practice of opening...
September 01, 2023
Fed Scrutiny of Regional Banks Highlights Importance of KYB, FinTech...
The increased scrutiny of regional banks — and a boost in capital requirements — may drive them towards FinTech partnerships to shore up compliance and know-your-business efforts. That might also...
August 28, 2023
Visa and NymCard Collaborate on Payment Credentials Issuance
NymCard, a Banking-as-a-Service (BaaS) firm that serves the Middle East and Pakistan, has joined the Visa Ready to Launch (VRTL) program. The VRTL program aims to simplify the process of...
August 25, 2023
Shoppable Content Is Complicated; Its Future Shouldn’t Be
One of the more compelling stories to come out of the pandemic was the idea of shoppable content. The hyper-convenient purchase moment and context of shoppable content, along with its...
August 24, 2023
Trulioo Debuts Advanced Person Matching Tools
Identity verification platform Trulioo has unveiled new person-matching capabilities. The launch, announced Thursday (Aug. 24), gives companies an alternative to working with multiple vendors to verify identities using personally identifiable information (PII) and...
August 23, 2023
The Modern Fraud Dilemma: It’s Good AI Against Bad AI
Generative artificial intelligence (AI) is making everything easier, including scams. Bloomberg reports that the world’s banking industry is “scrambling” to contain the risk of AI-generated criminal attacks. And insiders have repeatedly told PYMNTS...
August 18, 2023
Surge in Remittances Provides Cover for Drug Cartels’ Money Laundering
Drug cartels are reportedly disguising their ill-gotten gains as routine money transfers by using remittances. A surge in legitimate remittances from migrant workers has inadvertently made it easier for drug cartels to...
August 15, 2023
Banks Need Data Providers to Grapple With the Changes in...
Charles Zhu, vice president of product at Enigma, said “know your business” (KYB) mandates can be onerous on financial institutions (FIs) building an in-house compliance process. But for forward-thinking FIs,...
No other industry has more at stake in digital identity verification than financial services, a future Zil Money’s Justin Timlin says will be driven by technology and shaped by how regulators want to see it deployed. Read more in this month’s “Alternative Payments Tracker®,” a PYMNTS and Socure collaboration.
