Category: Trade & Industry

Fraud prevention fintech SEON has acquired anti-money laundering (AML) due diligence software company Complytron in a deal today. SEON is leveraging Complytron’s expertise to launch a new AML API, which will help companies comply with the European Union’s Sixth Anti-Money Laundering Directive (6AMLD). Terms of the deal were not disclosed. Two Hungary-based fintechs have combined…

Neobank Oxygen has raised $20 million in Series B funding, taking its total capital to $45 million according to Crunchbase. The funding -“led largely by return investors” – will help Oxygen further develop its product, improve the user experience, and grow its workforce. San Francisco, California-based Oxygen won Best Digital Bank in the 2021 Finovate…

Apple reported revenue records for cloud and payment services as the tech giant prioritized privacy and security through enhanced product offerings for sensitive data protection within iMessage, Apple ID and iCloud. WHY IT MATTERS: Although Apple saw increases in cloud and payment services, total revenue did fall amid a turbulent macroeconomic environment, supply chains issues…

Although it may seem counterintuitive, as financial institutions push further into the digital realm, the human element of banking is all the more important. Chris Tremont, chief digital officer, Grasshopper Bank Digital is becoming the go-to method for managing finances; in fact, 79% of consumers use their mobile device at least once a month to…

Commerce giant Amazon posted lower-than-expected income in the fourth quarter but saw solid year-over-year growth within its cloud platform, Amazon Web Services.  WHY IT MATTERS: The company missed earnings estimates due to both a $2.3 billion loss on electric vehicle manufacturer Rivian and economic uncertainty causing consumers to be more careful with their spending, Chief…

Deutsche Bank’s Blue Water Fintech Lab has unveiled its first commercial product, a robotic process automation platform for corporate treasury clients that focuses on multi-bank data processing and reconciliation. The RPA tool connects via API to enterprise resource planning or treasury management systems and can configure different messaging standards including payment and accounting formats, according…

In the space of just five years, a little-known company on the outskirts of London has grown into a payments-industry powerhouse, processing more than 1 billion euros ($1 billion) in transactions every month. Backed by licenses from regulators in the UK and Lithuania, Transactive Systems Ltd. touted itself as “one of the fastest-growing fintech companies…

HM Treasury has launched its hotly anticipated consultation on the future regulatory regime for cryptoassets. Its proposals would bring the UK closer to the EU’s MiCA legislation by regulating a wide range of cryptoassets and related activities. Many industry players (including those outside the UK) would need to apply for authorisation for the first time,…

U.K.-based digital bank Zopa landed $92 million from existing investors IAG Silverstripe, Uprising, and Augmentum. The funding, which “cements and enhances” the company’s unicorn status, brings Zopa’s total raised to $880 million. Since launching its digital bank in 2020, Zopa has attracted $3.69 billion (£3 billion) in deposits, added more than $2.46 billion (£2 billion)…