In today’s top news in digital-first banking, Computer Services, Inc. (CSI) is collaborating with Featurespace to advance a new cybercrime offering to fight money laundering, while the loan payment relief mandated by the federal CARES Act has brought about mixed outcomes. Plus, Emirates National Bank Dubai (Emirates NBD) has rolled out its businessONLINE omnichannel platform for small firms.
CSI, Featurespace Team up to Fight Money Laundering
Computer Services, Inc. (CSI) is teaming with Featurespace to advance a new cybercrime solution to combat money laundering. WatchDOG AML is a “holistic” anti-money laundering (AML) offering that works to prevent financial crime by “identifying suspicious activity in real time with an enterprise transaction monitoring system,” according to the firms.
COVID Programs Allowing Loan Deferrals Have Shown Mixed Outcomes
The loan payment relief mandated by the federal CARES Act in response to household income interruption caused by COVID-19 has led to mixed outcomes. Borrowers who had the kind of loans covered by the legislation – student loans and home mortgages – had the ability to skip payments without penalties or a negative impact on their credit scores.
Emirates NBD Debuts Omnichannel Corporate Banking Program
Emirates National Bank Dubai (Emirates NBD), the online banking company, has launched its omnichannel platform for small companies called businessONLINE. The platform will reportedly offer a collection of cash, trade finance and liquidity management offerings. Some of the functions include integration with many technology partners.
Facebook’s Libra to Make 2021 Debut as Single, Dollar-Backed Coin
Libra, Facebook’s cryptocurrency, could roll out by January, but in a reportedly “limited format,” per officials. The plan is to now roll out one coin that is backed one-to-one by the dollar, with other currencies and composites being launched at future points. The date isn’t definite yet and will depend on how long it takes for Libra to get the green light from the Swiss Financial Market Supervisory Authority (FINMA).
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