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Temenos Launches Groundbreaking Responsible Generative AI Platform for Banking Innovation
Temenos has launched the first Responsible Generative AI tools for the core banking sector, addressing banks’ demands for secure, efficient, and explainable AI technologies. This innovation enhances productivity and leverages complex data systems. The tools integrate with Temenos Core and Financial Crime Mitigation platforms, allowing users to query data naturally and receive instant insights, thereby improving operational efficiency. The platform supports various deployment environments, including on-premise and cloud options. Temenos plans to expand these AI capabilities to its Wealth and Digital platforms, aiming to streamline banking operations and enhance customer personalization, while ensuring compliance and transparency.
Belvo Secures $15M to Accelerate Growth of Open Finance Solutions in Latin America
Belvo, a leading Latin American FinTech platform focused on Open Finance solutions, has raised $15 million in its latest funding round, aimed at enhancing its product offerings and AI capabilities. The funding saw participation from new investor Quona Capital and returning backers like Kaszek and Y Combinator. Operating in Brazil and Mexico, Belvo supports over 150 clients, including major banks and digital companies, facilitating account-to-account payments and financial data access for over 50 million users. The investment will help expand financial data access and launch innovative payment solutions, reinforcing Belvo’s role in promoting financial inclusion across the region.
GLEIF and Companies House Join Forces to Boost Global Business Transparency
The Global Legal Entity Identifier Foundation (GLEIF) has partnered with the UK’s Companies House to enhance business transparency and operational efficiency. This collaboration aims to simplify access to UK companies’ registration data by integrating direct links to Companies House documents within Legal Entity Identifier (LEI) records. Benefits include streamlined access to company data, improved due diligence for compliance, and increased operational efficiency. GLEIF’s CEO, Alexandre Kech, emphasized the initiative’s role in fostering corporate transparency, while Companies House CEO Louise Smyth noted it enables secure access to extensive business information. This partnership may lead to future collaborations with global business registries.
Red Flag Alert Secures £4M Series A+ Funding to Strengthen Market Position and Drive Growth
Red Flag Alert, a Manchester-based business intelligence platform, has secured a £4 million Series A+ investment from Foresight Group and Ric Traynor, following a previous £3.5 million investment. The funding will support strategic expansion across five industries: Financial Services, Accounting, Legal, Construction/Manufacturing, and Business Utilities. The company has experienced significant growth, with its Annual Recurring Revenue (ARR) rising from £1.8 million to £5.2 million, aiming for £10 million within two years. CEO Richard West highlighted increased inquiries from enterprise clients, while Vincent Kilcoyne has been appointed Chief Product Officer to drive product development.
New EU Regulations Drive Investment Firms to Enhance Execution Transparency
The European Securities and Markets Authority (ESMA) has introduced significant regulatory updates that will impact investment firms and asset managers. Finalized on April 10, 2025, the new Regulatory Technical Standards (RTS) aim to improve order execution practices, requiring firms to justify their execution venue choices, categorize financial instruments properly, and enhance senior management oversight. Additionally, revisions to the MiFID II research payment framework introduce more flexibility and transparency, allowing joint payments for execution and research services and mandating annual assessments of research value. These reforms are intended to enhance transparency and investor protection, with an 18-month adaptation period for firms.