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UK FinTech Tide Secures £100M Investment from Fasanara to Enhance SME Lending Solutions
Tide, a UK-based financial platform, is transforming cash flow management for SMEs globally by securing a £100 million securitisation debt facility from Fasanara Capital. This partnership will allow Tide to distribute over £300 million in working capital loans, addressing the need for flexible funding among SMEs. Founded in 2015, Tide supports around 650,000 SMEs in the UK, offering services like business accounts and access to credit. The company is also expanding internationally, having launched in India and planning to enter Germany in 2024. Tide’s CEO emphasized the importance of flexible financing for SMEs to avoid cash flow issues.
Shield Your Firm from AML Risks: The Power of Advanced Negative News Screening
Negative News Screening (NWS), or Adverse Media Screening (AMS), is crucial for Anti-Money Laundering (AML) compliance, serving as a frontline defense for businesses. By analyzing public records and media, AMS identifies potential AML threats, safeguarding operational integrity from financial and reputational risks. Key benefits include risk identification, focusing on serious threats, AI-driven accuracy, and real-time alerts. However, challenges such as data overload and adaptive criminal tactics persist. Advanced AMS systems are adopting AI for improved accuracy and contextual analysis. Financial institutions are also enhancing due diligence practices, using technologies like Video KYC and predictive risk assessment to combat financial crimes.
Eclypsium Secures $45M to Strengthen Supply Chain Security Against Growing Cyber Threats
Eclypsium, a leader in infrastructure supply chain security, has raised $45 million in an oversubscribed Series C funding round, bringing its total equity funding to $85 million. The round attracted new investors including Qualcomm Ventures and Pavilion Capital, alongside returning investors like Andreessen Horowitz. The funding will enhance security for generative AI hardware, smart devices, and expand operations in North America and APAC. Eclypsium aims to bolster its supply chain research lab for security assurance services. CEO Yuriy Bulygin emphasized the need to protect infrastructure from nation-state threats, reinforcing their commitment to cybersecurity leadership.
2025 Reporting Updates: Key IRS Deadlines and FATCA Changes You Need to Know!
The IRS has announced important updates for financial institutions to comply with by January 2025 to avoid penalties. Key deadlines include distributing Form 1099 copies by January 31, 2025, with paper filings due by February 28 and electronic submissions by March 31. Late penalties have increased, reaching up to $660 for intentional non-compliance. Additionally, the Cayman Islands has launched a CRS compliance review, while Finland and France urge timely FATCA and CRS report submissions. Global updates include new reporting jurisdictions in South Korea and changes in Switzerland’s CRS submission deadlines. Financial institutions must enhance compliance processes accordingly.
Unlocking AML Compliance: The Growing Significance of PEP Screening
In 2025, accurately identifying Politically Exposed Persons (PEPs) has become crucial for the financial sector in combating money laundering and corruption. Compliance teams must utilize advanced PEP screening tools, including automated identity verification and AI-driven risk assessments, to mitigate risks associated with high-profile individuals. Previous failures in due diligence have led to significant fines and reputational damage for institutions. To address evolving financial crime tactics, institutions are adopting technological advancements like real-time transaction monitoring and automated regulatory reporting. Moving away from traditional methods, compliance teams are encouraged to embrace AI-driven software and proactive strategies to enhance AML compliance and protect the financial system.