Maintaining AML and Regulatory Compliance
For fintechs and neobanks, maintaining both AML and regulatory compliance is essential for their business operations.
For fintechs and neobanks, maintaining both AML and regulatory compliance is essential for their business operations.
Ziina also offers a way for small businesses to collect payments through various methods, further underscoring their commitment to providing...
One common approach to measuring the ROI of AML compliance is to calculate the cost savings resulting from the prevention or detection of financial...
Digital payments have revolutionized the way we conduct financial transactions, offering greater convenience and speed than traditional payment...
EDD is a more in-depth level of due diligence that financial institutions should perform on higher-risk customers, transactions, and counterparties.
One of the key requirements for AML compliance is the filing of currency transaction reports (CTRs).
Money mule schemes are a serious threat to businesses and the financial system.
Fingo Africa is not just any neobank - they are a youth-focused banking solution that has just received regulatory approval from the Central Bank of...
Fintechs and neobanks need to be aware of the implications of countries being placed on these lists and understand how they can navigate the...
kevin.’s rapid expansion is a testament to its dedication to innovation and customer service.
Financial institutions can leverage technology to streamline their SAR filing process, improving the accuracy and efficiency, and reducing the time...
By implementing post-monitoring, fintechs and neobanks can gain valuable insights into their customers' behavior and identify potential risks.
Fintechs and neobanks are vulnerable to money laundering due to their reliance on digital platforms and the fast-paced nature of their businesses.
It is critical for fintechs and neobanks to implement robust payment security measures that can protect their customers' sensitive financial data.
Customer due diligence (CDD) is a key component of AML compliance, requiring financial institutions to verify the identity of customers, assess their...
Financial institutions must implement measures to ensure they are compliant with applicable regulations, or risk hefty penalties and reputational...
It is important to understand the complexities of customer risk assessment and how it helps fintechs and neobanks meet their regulatory obligations.
After successfully launching for the UK, Singapore, and Canada markets, we are excited to announce that Launchpad is now available in Kenya.
False positives in fraud protection can have a significant impact on fintech and neobank businesses, as well as their customers.
Sanctions screening is essential for financial institutions, including fintechs and neobanks, to comply with AML regulations and mitigate the risk of...
Ensuring effective merchant monitoring is essential for fintechs and neobanks to effectively comply with AML regulations and protect against fraud.
Flagright has established a strategic partnership with Clear Junction to provide fintechs with access to banking-as-a-service (BaaS) solutions
Compliance with regulations aimed at preventing terrorist financing is crucial for fintech and neobank companies to maintain their reputation and...
Learn about the best and effective measures for stopping financial crime in the fintech and neobank industries
In the fintech and neobank industry, transaction monitoring has become a crucial aspect to ensure compliance with regulations and prevent money...
Fraudsters have become increasingly adept at exploiting vulnerabilities in the financial system, so it is essential for fintechs and neobanks to stay...
When properly implemented, the risk-based approach allows for a balanced integration of human judgment and modern technology in the AML compliance...
In today’s world, financial crime is a major challenge for businesses, banks, financial institutions like fintechs and neobanks, and even governments.
A dynamic approach to customer risk profiling can help financial institutions stay ahead of today's ever-evolving regulatory landscape
After launching in the UK and Singapore, we are thrilled to announce that Launchpad is now available for Canada.
From banks losing millions in fines and sanctions, to damaging reputations from high-profile money laundering scandals
Flagright has established a strategic partnership with ComplyAdvantage to provide a real-time database on sanctions, PEPs, and adverse media...
Flagright's advisory services can assist in navigating the complex world of financial regulation and compliance with minimal effort.
Our world-class real-time transaction monitoring tool supports configuring risk-based thresholds and actions for each rule based on customer risk...
Flagright is SOC 2, GDPR, and CCPA compliant. This is to ensure that your data is always safe with us.
I think it started from loving the idea of working for a startup that was trying its best to break away from the norm of not caring about the...
Banking-as-a-Service has become the most innovative way for fintech to quickly bring a customer-focused bank platform to market through digital means.
We can also provide assistance with developing tailored AML policies, onboard with relevant BaaS providers, and other essential compliance procedures.
Simply put, any company that provides financial services must comply with KYC regulations.
This expands Flagright's product offerings to provide identity verification and KYC services and helps operational teams centralize their work on a...
Sanctions lists are created with the goal of reducing financial crime and risk by identifying those who engage in illegal activities.
I liked what Flagright was going to do—assist fintechs and startups in preventing financial crime, and I liked the idea that everything I worked on...
Organizations that use inadequate or outdated transaction monitoring systems face extremely challenging compliance processes
With growing scrutiny from local and international financial regulators, financial institutions must protect themselves against all types of...
In an era where cryptoassets and transactions are becoming increasingly mainstream, it is more important than ever to ensure that businesses...
By utilizing the right systems, you can easily track customers’ information and develop a complete picture of their activities.
But what if an entity other than a bank violates AML laws? Which violations result in the largest penalties?
"I was a bit hesitant in the beginning, but finally, I decided to join because, YOLO, and I thought it would be a unique and interesting experience."
predicting the patterns and types of fraud that can influence real-time payments is difficult.
financial institutions across the globe are in dire need of developing methods that help them adopt and implement anti-money laundering (AML)...
When faced with increasingly secure fraud-protection systems implemented by much larger businesses, fraudsters begin to target smaller, less-secured...
AML compliance requires engaging with financial regulators and comprehending national and international regulations everywhere you conduct business.
Money laundering, like other financial crimes, is an ongoing threat to financial institutions.
Licensing issues still prevail across most industries, despite advances being made recently, with technology playing its part.
Read how Kaushik's passion for science, mathematics, and competitive programming led him to pursue a career in software engineering.
Financial concerns have suddenly risen to the top of the agenda across a wide range of businesses, including fintech, banking, eCommerce, and more.
Although money laundering is still common, SARs have been utilized to stop illegal conduct in some reported cases.
It's no secret that financial institutions are in the hot seat when it comes to anti-money laundering (AML) compliance.
Learn how Nikolai's childhood fascination with computers led him to a career as a software developer.
Flagright, a Berlin-based startup, has announced a $2.8M seed raise, to accelerate their mission of helping fintech startups prevent, and defend...
Fraud prevention policies and procedures can be challenging for financial institutions that have grown and expanded without having these areas built
Budget concerns are a common stumbling block, especially for newer startups that are still expanding and finding their footing.
Regulators are cracking down on financial institutions that do not improve their fraud prevention procedures.
a growing number of hazards make it difficult to forecast the future, prompting many analysts to predict a recession.
Many types of risk could only be predicted or hypothesized in the past until they became more serious scenarios posing risks to financial institutions
The United Nations Office on Drugs and Crime estimates that the money laundering cycle costs between $800 billion and $2 trillion per year.
Unfortunately, fraud is being committed by insiders, the very people who are meant to be supporting and defending an organization
AML compliance solutions have traditionally been cost and time intensive for fintech startups. Here’s why that’s no longer the case.
impose sanctions that often result in substantial fines, jeopardizing licenses, and significantly damaging reputations.
Experienced money launderers can increasingly exploit the often-fragmented nature of international anti-money laundering (AML) regulations.
The pain points around hiring engineering talent have also led to faster adoption of no-code tools globally across multiple industries.
risk scoring can enable healthy revenue growth instead of leading to user friction, redundant account suspensions,
there is an unspoken layer of friction between compliance risk management and user experience.