US and UK sign agreement to regulate AI models
The governments of the UK and US have signed what they claim is the first international bilateral agreement to regulate the risks of artificial intelligence (AI) models.
Incore Invest raises €25 million to fund high growth fintechs
Incore Invest has raised €25M for a new fund designed to accelerate the growth of high-potential SaaS, embedded finance and fintech companies across Europe.
Mastering Auto Finance Compliance: Top 3 GAP Refund Insights with Brian Reed
The auto finance industry is overdue for transformation. . As increased attention from consumer protection organizations and state regulators brings…
AUL pinpoints 9 F&I tips & trends for remainder of 2022
AUL Corp. senior vice president of sales and marketing Paul McCarthy identified nine F&I tips and trends he sees being in play for dealerships for remainder of the year. McCarthy touched on topics such as what’s on the dealership website … [Read More]
Rise in leasing poses higher costs for lenders
FORT WORTH, Texas — Leasing volume has steadily increased, which could lead to higher costs for lenders. Leases can sometimes…
Revenue-based investing marketplace Levenue raises €8m
Revenue-based investing marketplace Levenue has raised €8 million in a Series A funding round and acquired bank transaction enrichment expert Cake.
Older Americans demonstrate more digital financial literacy than younger peers
Digital financial literacy among Americans increases with age, according to research from Capital One.
Hong Kong Monetary Authority fines Fubon Bank HK$4m
Fubon Bank has been fined HK$4 million by the Hong Kong Monetary Authority (HKMA) for violation of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO).
Industry groups call on SEC to ditch cyber disclosure rule
A coalition of US financial trade associations are calling on the Securities and Exchange Commission to rescind its cyber incident disclosure rule, claiming that it endangers victims.
UAE closes in on launch of Digital Dirham
The United Arab Emirates is closing in on the phased launch of its Digital Dirham central bank digital currency.
Report predicts boom in Apac’s wealthtech market
The wealthtech sector in Asia-Pacific could be worth more than $2trn by 2027 thanks to technological advancements, according to a report published by McKinsey.
Fintech angel fund Rerail hits $20 million funding target
Rerail, an angel fund for fintech startups, has closed on a $20 million warchest.
UK Chancellor halts ISAs reductions after backlash
Rachel Reeves, UK Chancellor, announced reductions to allowance for tax-free cash savings in a push to get the public to allocate more funds into stocks and shares to boost the economy. However, backlash from building societies and banks has led to these plans being shelved.
Latitude Financial reveals 14 million customer records stolen in cyber attack
Australian consumer lender Latitude Financial has revealed that 14 million customer records, including drivers licences, passports and financial statements were stolen in a cyber attack.
Gleif plans digital service
The body responsible for managing the implementation of the Legal Entity Identifier (LEI) has announced plans to develop a digital version that can be rolled out across multiple sectors beyond the financial services market.