ValidMind raises $8.1m for AI risk management platform
Finextra
APRIL 1, 2024
ValidMind, an AI and model risk management platform for financial services, has raised $8.1 million in seed funding.
Risk Management Related Topics 
Banks told to expand risk management to cover AI
Finextra
MARCH 28, 2024
A report from the US Treasury has called on banks to bolster their risk management frameworks in order to avoid being overwhelmed by AI-powered fraudsters and cybercriminals.
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PayPal uses stablecoin to invest in blockchain risk management startup
Finextra
SEPTEMBER 22, 2024
PayPal has used its own stablecoin to make an additional investment in blockchain risk management specialist Chaos Labs.
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Proactive Credit Risk Management: Developing an Early Warning System
Finezza
OCTOBER 30, 2024
This highlights the inherent risks lenders face. Therefore, financial institutions (FIs) need robust credit risk management to minimise risk and boost returns and productivity.
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Top Strategies to Future-Proof & Sustain Your Merchant Services Portfolio
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Embrace technology and data analytics to enhance service offerings, streamline processes, and improve risk management. Foster long-term relationships through exceptional service and personalized support. Continuous learning and adaptability are key to staying ahead in the ever-changing payment processing industry.
Mckinsey: Generative AI to Transform Risk Management in The Next 5 Years
Fintech News
APRIL 16, 2024
Generative artificial intelligence (AI), also known as gen AI, is expected to significantly impact risk management over the next five years, allowing financial institutions to automate tasks, accelerate processes and improve efficiencies.
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Understanding Risk Management Strategies as a PayFac
Stax
AUGUST 22, 2024
In this article, we’ll discuss what SaaS companies looking to become payment facilitators need to know about risk management strategies. PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks.
Securing Your Wealth: How Cybersecurity Affects Investment Decisions
VISTA InfoSec
JUNE 26, 2024
For investors, companies with strong cybersecurity appear as lower-risk investments because they can protect their assets and maintain operational continuity. Companies with strong cybersecurity risk management have the resilience to maintain business continuity.
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EBA amends guidelines on ICT and security risk management
Finextra
FEBRUARY 11, 2025
The European Banking Authority (EBA) narrowed down the scope of its existing Guidelines on ICT and security risk management measures, due to the application of harmonised ICT risk management requirements under the Digital Operational Resilience Act (DORA) from 17 January 2025.
Ethos raises $6m to modernise model risk management
Finextra
FEBRUARY 26, 2025
Ethos, the modern model risk management platform, announced today a seed investment of $6M to become the gold-standard platform enabling financial institutions and fintechs to manage model risk with confidence.
RPA & AI in the financial sector: key functions, technologies, future decade trends
Fintech Weekly
FEBRUARY 12, 2025
Explore how RPA & AI are transforming the financial sectorboosting efficiency, compliance, and risk management. Learn key technologies, trends, and future insights.
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Lloyds Bank cuts risk dept headcount
Finextra
APRIL 10, 2024
UK high street bank Lloyds Bank is reducing the size of its risk management department because it is seen as a “blocker” to the bank’s “strategic transformation”.
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BlueSnap Appoints Bill Christensen as SVP of Acquiring & Risk
Fintech Finance
SEPTEMBER 6, 2024
BlueSnap , a global payment orchestration platform for leading B2B and B2C businesses, has appointed Bill Christensen as SVP, of Acquiring & Risk. He brings 20 years of experience in financial risk, electronic payments and credit cards to the role.
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Citi COO relieved of responsibility for data overhaul following $136 million fine
Finextra
SEPTEMBER 16, 2024
Citigroup is stripping chief operating officer Anand Selva of his responsibility for data compliance after the bank was hit with $136 million in fines for its failure to address long-standing deficiencies in risk management and data governance.
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ADVANCE.AI Expands ‘Know Your Business’ Service in Singapore and Malaysia
Fintech News
AUGUST 1, 2024
ADVANCE.AI, a provider of digital identity verification and risk management solutions in Southeast Asia, has expanded its capabilities in Singapore and Malaysia with an upgraded Know Your Business (KYB) service.
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Dennis Martin Joins ADVANCE.AI as Credit Reporting CEO
Fintech News
JANUARY 29, 2024
ADVANCE.AI, a provider of digital identity verification and risk management solutions in Southeast Asia, has announced the appointment of Dennis Martin as the CEO of its credit reporting business. His past roles include being the Managing Director at Experian Southeast Asia and Dun & Bradstreet New Zealand.
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CeFPro: Are Financial Institutions Prepared for Supplier Risks? New Survey Uncovers Critical Gaps
Fintech Finance
OCTOBER 7, 2024
.” This lack of clarity raises the likelihood of inconsistencies across jurisdictions and organisations, creating critical gaps in risk management practices. of respondents reported mitigating risks through standard supplier management processes, only 14.3% While 70.1%
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Tribe Payments Secures ISO 27001 Certification, Strengthening Information Security
Fintech Finance
SEPTEMBER 18, 2024
ISO 27001 certification demonstrates that Tribe has implemented robust information security and risk management systems to protect information confidentiality, integrity, and availability in today’s evolving cyber landscape.
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MAS Seeks Feedback to Close Regulatory Gaps for Crypto Service Providers
Fintech News
OCTOBER 8, 2024
The purpose of these requirements is to address the risks of money laundering and terrorism financing, to which DTSPs may be particularly exposed due to their cross-border operations. Additionally, the proposed regulatory framework includes guidelines on technology risk management and cybersecurity.
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ServiceNow Lands AI Partnerships with Visa and EY
Fintech News
JANUARY 25, 2024
ServiceNow Gen AI to help EY risk management The alliance with EY involves ServiceNow offering solutions in generative AI (Gen AI) for compliance, governance, and risk management. These collaborations mark another noteworthy step in the integration of advanced AI technologies in compliance and financial services.
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Fraudsters are Turning to Third Party Vendors as New Means of Attack as Firms Improve Cybersecurity
The Fintech Times
JUNE 3, 2024
Better third-party risk management is needed The new research highlights the direct connection between a company’s cybersecurity strength and the security measures of its smallest vendors.
OKX Names Yuri Mushkin as Global Chief Risk Officer
Fintech News
OCTOBER 15, 2024
Mushkin previously worked at McKinsey Investment Office Partners, where he managed over US$20 billion across public and private markets. With over 20 years of experience in capital markets and risk management across traditional and digital assets, he has held senior positions at firms such as Goldman Sachs and McKinsey & Co.
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Citi COO shares responsibility for data overhaul following $136 million fine
Finextra
SEPTEMBER 16, 2024
Citigroup is stripping chief operating officer Anand Selva of his full responsibility for data compliance after the bank was hit with $136 million in fines for its failure to address long-standing deficiencies in risk management and data governance.
Exploring the Next Frontier in Compliance: Risk Orchestration
FloQast
SEPTEMBER 18, 2024
Many organizations encounter common obstacles that can hinder progress, ranging from overwhelming administrative demands to fragmented systems that impede effective risk management. Foster a Culture of Proactivity : Shift from reactive to proactive risk management, preparing for potential challenges before they arise.
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FinbotsAI Expands Footprint to Myanmar via KBZ Bank Partnership
Fintech News
APRIL 16, 2024
This collaboration aims to introduce AI-led credit risk management to KBZ Bank, enhancing its ability to assess creditworthiness across retail and SME products with greater accuracy and efficiency. KBZ Bank operates over 500 branches and serves approximately 40% of Myanmar’s retail and commercial banking sectors.
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U.S. Bank Introduces Automated, End-to-End Supplier Accounts Receivable Platform in Partnership with Billtrust
Fintech Finance
JULY 23, 2024
Bank Advanced Receivables brings together the bank’s leading payment and risk management capabilities with Billtrust’s top AR technology to improve the intricate business-to-business (B2B) receivables process. A customized, secure credit application process eliminates slow manual exchange of information and improves risk management.
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Numerated Partners With Alloy To Supercharge Fraud Prevention In Commercial Lending
Fintech Finance
OCTOBER 3, 2024
Numerated, the leading AI-driven commercial lending platform, today announced its partnership with Alloy, the identity risk management company trusted by over 600 leading banks, credit unions and fintech companies, to deliver best-in-class fraud checks within commercial lending.
NexGen Banking Summit
Open Banking Excellence
SEPTEMBER 25, 2024
As banks adapt to these transformative forces, attendees gain insights into innovative strategies, regulatory compliance, and customer-centric approaches that will define the future of banking.
How Has AI Impacted the Embedded Finance Space in Recent Years?
The Fintech Times
APRIL 15, 2024
This approach not only fine-tunes the assessment of credit risks but also customises financial products to meet individual requirements, balancing personalisation with risk management.
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Singapore Pledges S$35 Million in Sustainable Finance Skills Development
Fintech News
APRIL 17, 2024
These roles will demand specialised knowledge, such as the ability to design enterprise-level sustainable finance strategies and implement sustainability risk management policies. A recent study by KPMG anticipates the ASEAN sustainable finance market could grow to S$4 to S$5 trillion over the next decade.
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Corpay Cross-Border Named the Official FX Supplier of Everton Football Club
Fintech Finance
SEPTEMBER 25, 2024
With our strong focus on growing the Corpay brand and business globally, this partnership further solidifies Corpay’s position as the corporate payments and currency risk management company of choice within the Premier League, and we look forward to working with Everton during the coming season and beyond.”
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Bank of Thailand to Test Programmable Payments in Enhanced Sandbox
Fintech News
JUNE 11, 2024
The new project will test programmable payments, which use technology to automatically set transaction conditions for goods and services, offering a variety of applications with proper risk management processes.
How to Conduct an ISO 27001 Risk Assessment
VISTA InfoSec
OCTOBER 25, 2023
Welcome to our comprehensive guide on ‘Conducting an ISO 27001 Risk Assessment’. This blog is designed to equip you with effective strategies for a successful risk assessment, incorporating the principles of ISO 31000 risk management. ISO 27001 offers various risk management options.
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Webinar: How AI and Machine Learning Enhance Risk Scoring and Revenue
Fraud.net
JANUARY 17, 2025
In our webinar, learn how AI and machine learning can enhance risk scoring and boost ROI and why AI-driven risk management is the future.
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Why This Chinese Unicorn is Betting Big on Southeast Asia’s B2B Cross Border Payment
Fintech News
NOVEMBER 20, 2024
Risk management is another challenge. Transaction data is often unstructured and inconsistent, requiring market players to build their own systems to manage risk. Risk management in B2B payments is very different from B2C payments. Increasing anti-money laundering (AML) regulations further add complexity.
UBS AM Debuts Its First Tokenised Fund, Expanding Blockchain Initiatives
Fintech News
NOVEMBER 3, 2024
UBS Asset Management has launched its first tokenised investment fund, the “UBS USD Money Market Investment Fund Token” (uMINT), built on Ethereum’s blockchain. This token offers investors access to institutional-grade cash management solutions backed by high-quality money market instruments within a conservative, risk-managed framework.
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Central Bank of Brazil Approves PayRetailers’ Acquisition of Transfeera
Fintech Finance
DECEMBER 20, 2024
The acquisiton will enable PayRetailers to gain direct access to Pix, a popular payment system in Brazil which lets users instantly transfer money in Brazilian real, strengthening its regulatory and risk management structure in Brazil, and expanding its opportunities in Open Banking.
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Bootstrapped Fintech Surfin Lands US$12.5M in First External Funding Round
Fintech News
OCTOBER 8, 2024
Dr Yanan Wu Dr Yanan Wu, CEO and Founder of Surfin, said, “Surfin’s vision has always been to build an ecosystem of financial technology services on top of our existing scalable and sustainable risk management system powered by AI and big data. in First External Funding Round appeared first on Fintech Singapore.
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OJK Plans to Raise P2P Funding Limit for Business Loans
Fintech News
JULY 21, 2024
Key improvements to the regulations include enhanced institutional frameworks, risk management, governance, and consumer protection, with a focus on bolstering support for the productive sector.
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MAS Warns Financial Institutions of Quantum Computing Cyber Threats
Fintech News
FEBRUARY 21, 2024
To mitigate these quantum-related cybersecurity risks, MAS advises financial institutions to develop crypto-agility—the ability to transition from vulnerable cryptographic algorithms to PQC efficiently without significantly impacting their IT systems and infrastructure.
How AI is Shaping the Future of Client Relations in Finance
Fintech News
MAY 22, 2024
AI-driven solutions are already making their mark in process automation, risk management, and customer service. AI-driven solutions can drive business growth across various functions, including marketing, customer acquisition, risk management, and operational productivity.
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SBI and SIX Swiss Exchange’s AsiaNext Begins Trading in Crypto Derivatives
Fintech News
JANUARY 9, 2024
This ecosystem is expected to address the needs of institutional investors, offering solutions like reduced risks in counterparty and settlement, and capital efficiencies through innovative risk management processes. said Chong Kok Kee, Chief Executive Officer of AsiaNext.
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9Basil Acquires AlteriQ Global to Fuel APAC Private Credit Growth
Fintech News
APRIL 14, 2024
Their inclusion is expected to bolster 9Basil’s strategic vision and risk management capabilities. Zhi Yong is known for his expertise in asset-backed and supply chain financing in emerging markets, while Tan has a strong background in investment banking across multiple jurisdictions.
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LSEG Risk Intelligence Deploys Account Verification to Tackle Payment Fraud
Fintech News
MARCH 4, 2025
LSEG Risk Intelligence, which specialises in compliance, risk management, and fraud prevention solutions, said GAV will help financial institutions, fintech firms, and multinational corporations reduce fraud risks while improving payment efficiency.
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