January 5, 2025 – FintechDaily

Several Banks Face Multi-Million Dollar Fines for WhatsApp Usage

Wells Fargo and BNP Paribas are among the latest banks to face multi-million dollar penalties imposed by US regulators for the use of unofficial communication...

Unlocking Insights: The Value of Mystery Shopping for Regulators

Mystery shopping is an effective tool for regulators seeking insights into how financial institutions interact with customers pursuing products like personal loans, according to findings...

Fiat Republic Secures $7M to Connect Web3 and Banking Systems

Fiat Republic, a BaaS startup focused on simplifying the connection between crypto platforms and bank transfer networks, has successfully raised $7 million in a seed...

FCA Cautions Brits to Be Aware of Loan Fee Fraud

With many Brits experiencing heightened financial stress this summer, the Financial Conduct Authority (FCA) is alerting the public to be vigilant against loan fee fraud....

Wirecard Executives Hit with €140 Million Damages in Civil Lawsuit

Three former Wirecard executives, including CEO Markus Braun, have been ordered to pay €140 million plus interest to the former administrator of the bankrupt payments...

RegTech Kore Secures £2.4 Million in Funding

Kore, a RegTech Software-as-a-Service platform designed to help large financial institutions expedite regulatory compliance, has successfully raised nearly £2.4 million from the angel network Wealth...

RBI Partners with Project Nexus for Instant Cross-Border Payments

The Reserve Bank of India (RBI) has joined the global Project Nexus initiative, aimed at facilitating instant cross-border payments. According to the Bank of International...

Lloyds Bank Reduces Headcount in Risk Department

UK high street bank Lloyds Bank is reducing the size of its risk management department, citing its role as a “blocker” to the bank’s “strategic...

Fed Expands Scope to Address Emerging Technology-Driven Risks

The US Federal Reserve is establishing a new supervisory unit to oversee 'complex' technology partnerships between banks and non-banks, as well as activities related to...

FCA Identifies Areas for Improvement in Fund Manager Value Assessments

The FCA has conducted a review of fund managers' value assessments and found that while many firms have improved their practices, some still need enhancements....