Fintilect, a transatlantic alliance of three fintech firms owned by Parabellum Investments, has launched to provide banks with a full suite of AI-driven customer engagement tools.

DWS Group, an asset manager majority owned by Deutsche Bank, has acquired a 15% stake in Neo Technologies, a Dubai-based digital investment platform. The value of the deal was not disclosed.

Investment manager Abrdn has pulled out of a deal to acquire the digital wealth management arm of fintech Nucoro and has instead agreed to an undisclosed investment in the wealthtech.

London-based B2B cross-border payments outfit Currencycloud has raised $80 million in a Series E funding round joined by blue-chip investors such as Visa, BNP Paribas and Siam Commercial Bank.

Money transfer giant Wise has been hit with a $4.2 million fine from multiple US state regulators over deficiencies in its anti-money laundering controls.

Hong Kong banks are joining an SMS sender registration scheme designed to help customers avoid falling for scam texts.

Today marks two years since Brazil launched its Open Finance Initiative. Open banking in Brazil has blossomed thanks to the initiative, forging a new governance structure and financial system for financial institutions in the nation.

UK wealth management group St. James’s Place is rolling out virtual reality technology for training and role-playing across the business.