A recent report from Thales, a leader in cybersecurity, titled “Economic Impact of API and Bot Attacks,” underscores the severe financial damages that insecure APIs and bot attacks inflict on businesses worldwide. According to data analyzed by the Marsh McLennan Cyber Risk Intelligence Center, over
The financial services industry is undergoing a transformation as artificial intelligence (AI) takes center stage in the detection and prevention of financial crimes. With financial fraud and money laundering on the rise, the role of financial institutions has expanded significantly to act as the
Recent developments in the financial sector suggest a promising future for tokenization, particularly in the realm of cross-border payments. In a groundbreaking initiative known as Project Agorá, the Bank for International Settlements (BIS), along with several central banks and the Institute of
In a groundbreaking move, Flagright, a leader in AI-native compliance solutions, has entered into a strategic partnership with First Digital Trust (First Digital), a Hong Kong-based company specializing in multi-asset custodial, trust, payments, and stablecoin services. This collaboration is set to
The second quarter (Q2) of 2024 witnessed a notable surge in investments within the US regulatory technology (RegTech) sector. Despite a decrease in the number of deals, the total capital invested has seen significant growth, highlighting a strategic shift towards fewer but larger transactions.
Nigeria, Africa's most populous nation and largest economy, is experiencing a significant transformation in its financial landscape. The rapid growth of digital payments and fintech innovations is redefining the way Nigerians interact with money, fostering financial inclusion, and boosting economic
In a significant move that underscores the increasing focus on cybersecurity, Copilot Capital has made a substantial majority investment in SecureFlag, a leading UK-based cybersecurity training company. SecureFlag is well-regarded for offering experiential, hands-on coding training tailored to the
The US RegTech sector experienced a notable shift in investment dynamics during Q2 2024. Investment patterns and deal activities have revealed a trend of cautious investment, with a significant drop in the number of deals compared to the previous year. This detailed analysis delves into the factors
In the fast-paced world of financial services, the need for operational resilience has become a pressing concern, especially within the fintech sector, where robust, secure, and fully operational digital platforms are essential to mitigate risks from technological failures and cyber threats. This
Friendly fraud is emerging as a significant challenge in the fintech industry, exacerbated by the surging popularity of e-commerce. As consumers increasingly turn to online platforms for their shopping needs, instances of family members falsely denying purchases have surged, presenting a myriad of
