Building the future of fintech.

Affect of Financial Data Aggregation and Digitization on Mortgages

As the Covid-19 pandemic slowed down almost every sector of the financial industry, some markets are finally starting to make a comeback. The Australian property market is experiencing a major comeback, and house prices are rising at a record level.  This is the result of all-time low-interest rates and household savings that have accumulated to […]

Read more
Data Aggregation Impacts Mortgages

Digital Banking and AML Regulatory Compliance

As banks and financial institutions try to embrace advancements in financial technology, the digital banking sector has grown exponentially. The pace of digitization of banking systems has been reinforced by the covid-19 pandemic. Out of all bank customer onboarding in 2020, almost 65% of them were done with online methods. Unfortunately, as digital banking services […]

Read more
aml regulation in digital banking

Global Anti Money Laundering Regulations: New AML/CTF Laws & Regulations in European Union

The United Nations Office on Drugs & Crime reports that the estimated amount of money laundered annually is 2-5% of the global GDP. To put that in number, the losses due to money laundering are $800 billion – $2 trillion. Following the Anti-Money Laundering Act 2020 being signed into law in the US, the EU […]

Read more
CFT regulations in the EU

Open Banking: Global Developments, Current Landscape, and Future

If there’s one core element that can be credited for the surge of digital transformation in the financial industry, it’s the global COVID-19 pandemic. It’s more than clear that banks, credit unions, payment providers, and other financial service providers are looking to take advantage of technologies to gain an upper hand against their counterparts. The […]

Read more
open banking global developments

How Community Banks can help with FinTech Due Diligence

Since the last couple of weeks, bank regulatory bodies have released tons of publications applicable to Community Bank FinTech partnerships. This can be called a newly proposed guidance, a FinTech due diligence guide, and a Federal Reserve white paper on types of FinTech partnerships: Proposed Interagency Guidance on Third-Party RelationshipsConducting Due Diligence on FinTech: A […]

Read more
fintech due diligence

Detection and Prevention of Sophisticated Document Fraud in 2021

In 2020, the world saw the biggest use of fake and stolen documents for illegal activities. One of the biggest reasons for that is the pandemic that caused millions to face unemployment. We live in a digitally connected world and most of our lives are spent using online services. Digital banking, government tax portals, and […]

Read more
document fraud

Open Source Financial Services: What They Are, What They Offer?

Open source has the capability to transform the financial services industry. This evolution will shift the power in the $25 trillion industry from business executives to state-of-the-art developers, not just for FinTechs, but for old-style banks as well.  Before the evolution of digital transformation in the banking industry, building and offering financial services was a […]

Read more
open financial services

Adopting Digital Assets in Financial Services

Any technology that shows any type of promise is always met with hype. Cryptocurrencies and other digital assets in the financial industry feel the same way, but over the last few months, the developments in the industry show all the signs of digital assets becoming a mainstream service. Needless to say that there are several […]

Read more
digital assets

How Cryptocurrencies are Disrupting Money Transfers?

Using traditional methods for money transfers can be monotonous and slow. Sending or receiving money using regular bank services can take 3-5 business days. Innovative technologies such as digital wallets, third-party payment apps can transfer money faster. New banking infrastructure is disrupting the current financial landscape to improve the financial lives of millions all over […]

Read more

Identity Verification in The Financial Services Industry

Identity verification is becoming more and more essential in the growing digital financial landscape. It has two different benefits, helps in preventing fraud and prevents fines for non-compliance with KYC and AML regulations. The new and improved financial industry that we experience today has taken so much time and effort to happen. While the concept […]

Read more
id verification need