December 2024 – Page 50

NatWest Reports That Three-Quarters of UK Consumers Still Keep Cash on Hand for Emergencies

New research from NatWest reveals that despite a decline in cash usage, it remains quite versatile, with three-quarters of UK consumers still keeping paper money...

Sedric AI Secures $18 Million for Generative AI Compliance Solutions

American Express Ventures has participated in an $18 million funding round for Sedric AI, a startup focused on creating a specialized compliance large language model...

The Bank of London Faces Urgent Challenge Over Unpaid Tax Bill

The Bank of London has received a winding-up order from UK tax authorities due to unpaid bills, shortly after founder Anthony Watson stepped down as...

Swift Introduces AI-Driven Real-Time Fraud Prevention Solution

Banking co-operative Swift is set to launch an AI-powered anomaly detection service designed to assist banks in proactively identifying and combating potential financial crime. Scheduled...

Klarna Bank Faces Criticism from FSA for Money Laundering Risks

Klarna Bank has faced criticism from the Swedish Financial Supervisory Authority (FSA) for not adequately addressing money laundering risks. A letter from the FSA to...

Mirrorweb Secures $63 Million Amid Regulatory Crackdown on Off-Channel Record Keeping

Market communications surveillance firm Mirrorweb has secured a $63 million growth equity investment from Mainsail Partners. Founded in 2016, MirrorWeb's Insight platform enables firms to...

FCA Initiates First Criminal Charges Against Operator of Cryptocurrency ATM Network

The Financial Conduct Authority (FCA) has initiated its first criminal charges against an individual, Olumide Osunkoya, 45, from London, who is accused of operating multiple...

Chainlink Consortium to Pilot Trade Finance Application with Brazil’s Digital Real

Microsoft Brazil, 7COMm, and Chainlink are collaborating with Banco Inter on a trade finance application as part of the second phase of the central bank's...

FDIC Suggests New Bank Reconciliation Regulations After Synapse Collapse

The US Federal Deposit Insurance Corporation (FDIC) is exploring measures to safeguard customers from potential failures of fintech companies, according to a report by Bloomberg...

Reevaluating the Impact of AI in Financial Services

Join us for our inaugural event in London this November, where we will explore the transformative role of AI in financial services. NextGen: AI is...