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MAS Fines Five Payment Firms S$960,000 Over AML/CFT Control Failures

Fintech News

Arcade Plaza Traders (APT) was fined S$260,000 for failing to screen customers and related parties for money laundering and terrorism financing risks, and for omitting originator details in wire transfer instructions.

AML
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PS25/12 – FCA Changes to the Safeguarding Regime for Payments and E-Money Firms

Finextra

The payments and e-money sector has exploded in size, £26bn in safeguarded e-money last year, up from £11bn in 2021. Fintech Application: A fintech has an acknowledgement letter from its main safeguarding bank dated 2021. One in ten UK e-money holders now use these accounts for everyday spending.

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Affirm’s Flexible and Transparent Pay-Over-Time Options Now Available in the UK

Fintech Finance

Affirm has been publicly traded on NASDAQ since 2021 and has processed more than $75 billion over the last five years. Any interest applied will be fixed and calculated solely on the original principal amount, meaning the amount of any interest does not ever increase or compound.

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TransUnion to Buy Credit Eligibility and Distribution Platform Monevo

Finovate

TransUnion originally acquired a 30% stake in Monevo in 2021 and will acquire the remaining ownership position from Monevo’s majority stakeholder, Quint Group Limited. ” In October 2021, TransUnion formed a strategic partnership with Monevo, acquiring a30% stake in the company.

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Deep Dive: How Shift4 Is Building a Global Commerce Platform

Finextra

Despite the pandemic’s impact on its core restaurant and hospitality clients, Shift4’s business rebounded strongly, even exceeding the aggressive targets set during its 2021 investor day. Over 2021–2023, the company aggressively broadened its offerings and vertical reach, both organically and via acquisition.

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Affirm Makes Flexible Pay Options Available in the U.K.

Finovate

shoppers will have access to Affirm’s interest-free payment option as well as its interest-bearing option that applies a fixed interest on purchases calculated on the original payment amount. Affirm, which went public in 2021 , currently trades on the NASDAQ under the ticker AFRM with a market capitalization of $13.8

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LoanPro Teams Up with NovoPayment to Boost Credit Access in Latin America

Finovate

The partnership integrates LoanPro’s credit ledger and origination, servicing, and collections technology with NovoPayment’s API-based issuing processing. Utah-based LoanPro made its Finovate debut at FinovateSpring in 2021. LoanPro made its Finovate debut as part of our all-digital FinovateSpring conference in 2021.