Similar Posts
Flagright and Integrated Finance Join Forces to Simplify FinTech Compliance Solutions
Flagright has partnered with Integrated Finance to enhance FinTech integration processes by streamlining compliance and core infrastructure workflows. This collaboration allows FinTech teams to develop and deploy products faster by utilizing pre-mapped APIs, reducing complexity in vendor connections and accelerating go-to-market timelines. Integrated Finance offers essential banking infrastructure, while Flagright provides robust compliance solutions, including real-time AML monitoring and AI-powered forensics. The partnership supports various applications, such as multi-currency wallets and lending platforms, with a focus on improving customer experience and enabling innovation without sacrificing speed or security.
UK Faces Rising Threat: First-Party Fraud Surpasses Scams, Warns LexisNexis
The LexisNexis Risk Solutions cybercrime report highlights a troubling trend in the UK’s fraud landscape for 2024, with first-party fraud surpassing 50% of reported incidents, primarily involving legitimate customers. This includes false loan applications and fraudulent chargeback claims, particularly linked to Buy Now, Pay Later services. Additionally, account takeover fraud, driven by phishing tactics, now makes up 15% of fraud cases. Stephen Topliss from LexisNexis warns of the evolving threat landscape, fueled by AI advancements. In response, ING is enhancing its fraud prevention measures, including a new feature to combat helpdesk fraud.
CredCore Secures $16M to Propel AI-Powered Credit Investing and Management Forward
CredCore, an AI-driven credit investment platform, has raised $16 million in Series A funding, led by Avataar Ventures and supported by investors like Inspired Capital and Fitch Group. The funding aims to transform the enterprise credit market, which sees $5 trillion in annual transactions yet lags in technology adoption. CredCore’s platform enhances efficiency throughout the debt deal lifecycle, from pre-deal evaluation to post-deal management, with a unique AI feature that analyzes deal documents. Co-founders Saumil Annegiri and Karthik Nandyal emphasize the importance of marrying credit and technology for improved outcomes in this complex industry.
Alpaca Secures $52M in Series C Funding to Expand Revolutionary Brokerage Technology Worldwide
Alpaca, a US-based self-clearing broker-dealer, has raised $52 million in its Series C funding round, signaling a commitment to enhance its brokerage infrastructure APIs and expand its market reach. The funding saw participation from both new and existing investors, including Derayah Financial and Portage Ventures. Alpaca manages over 5 million brokerage accounts for more than 200 partners globally and plans to support enterprise institutions in the US, Middle East, and Asia. CEO Yoshi Yokokawa highlighted this funding as a pivotal moment for global expansion and improving services, including new offerings like US options trading and High-Yield Cash accounts.
Finova Tech Revolutionizes UK Mortgages: Now Powering 1 in 5 Home Loans After Major Rebrand
Finova, a prominent player in financial technology, has unveiled a new brand identity reflecting its strategic growth and the integration of MSO, supported by Bain Capital Tech Opportunities and Octagon Capital. Now unified under the Finova brand, the company serves over 60 financial institutions and 550 brokerages in the UK, offering a comprehensive suite of digital solutions, including mortgage origination and customer relationship management. Finova’s technology powers one in five UK mortgages, managing nearly £50 billion in loans and savings. Executive Chairman Paraag Davé highlighted this rebranding as a pivotal moment for the company, emphasizing its ambition to lead mortgage and savings technology.
SET Launches Innovative Carbon Management Platform to Boost Green Financing Opportunities
The Stock Exchange of Thailand (SET) has launched SET Carbon, a platform designed to improve transparency in carbon footprint reporting amid rising demand from investors and government for reliable compliance tools. Currently, only 30% of Thai listed companies have verified disclosures. SET Carbon aids in efficient carbon management, streamlining data processes and simplifying access to green financing, essential for sustainable operations. It collaborates with the Department of Climate Change and Environment and EXIM Bank to enhance data management. This initiative aligns with Thailand’s upcoming Climate Change Act, supporting the transition to a low-carbon economy and fostering environmental accountability.