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
In today's digital age, cybersecurity breaches pose a significant threat not only to data security but also to a company's long-term reputation and financial stability. A recent study by ISACA highlights the profound impact of cyberattacks on an organization’s image, revealing that 78% of
The rapidly evolving financial landscape has witnessed a surge in partnerships between traditional banks and fintech companies, bringing immense benefits but also significant risks. These alliances have been instrumental in driving technological innovation and improving customer services within the
In a substantial regulatory crackdown that underscores frequent and severe non-compliance within the financial sector, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have levied fines totaling $477.75 million against 26 broker-dealers and investment
Founded in 2020, RelyComply has quickly grown to become a notable player in the RegTech industry. Known for its comprehensive, single-platform Anti-Money Laundering (AML) solutions, the company has recently announced a strategic rebranding effort aimed at better communicating its value propositions
As the fintech sector undergoes a rapid transformation fueled by technological advancements like artificial intelligence (AI), blockchain, and cloud computing, the role of Global Capability Centers (GCCs) has become more prominent and complex. These centers now handle vast amounts of sensitive
