This investment spearheads a $7 million funding round for Pemo. Founded in 2022, Pemo focuses on serving small and medium-sized enterprises (SMEs) in the UAE. They offer corporate cards and a platform to manage business expenses and payments. Augmentum explained in a press release that, with only 1.7% of payments currently made using corporate cards…
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The companies said in a press release that the partnership will integrate IDVerse's advanced identity verification tools and infrastructure into LSEG's existing suite of digital identity and fraud solutions, allowing businesses to scale global operations and improve the speed and reliability of customer onboarding processes. IDVerse's technology is powered by generative AI and is designed…
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NovoPayment, which specialises in delivering digital banking, payments, and card solutions, is expected to use the funding to help accelerate its product and commercial growth and strengthen its position in the banking and payment vertical SaaS market. NovoPayment's platform aims to let banks, fintechs, and other financial institutions deliver digital financial and payment services. Its…
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The investment marks big xyt's first external funding round after a decade of profitable, bootstrapped growth. The company said in a press release that the funding will be used to accelerate its global expansion into Europe, the US, and APAC, as well as to fuel its product development and team growth. Big xyt provides data…
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Metro Bank has been fined £16.67 million by the Financial Conduct Authority (FCA) for serious financial crime failings, the regulator revealed on Tuesday. The FCA said that between June 2016 and December 2020, Metro failed to implement adequate systems and controls to monitor over £51 billion worth of transactions for potential money laundering. They explained…
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The financial giant was found to have breached several rules, including a failure to implement sufficient pre-trade controls and a lack of adequate monitoring of trading activity. The incident that led to the fine occurred on May 2, 2022, when a significant price drop was observed across multiple financial instruments and indices traded on Nasdaq…
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According to the SEC's order, Invesco falsely claimed that a significant portion of its assets under management were "ESG integrated." However, the reality was that many of these assets were held in passive exchange-traded funds (ETFs) that did not consider ESG factors in their investment processes. “Invesco told clients and stated in marketing materials that…
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The company is said to have failed to respond in a timely manner to multiple requests for information. The fines stem from three separate incidents between June 2021 and August 2023. In each case, FINRA said it requested information from Spartan Capital as part of an investigation, but the brokerage firm failed to meet the…
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This collaboration aims to elevate liquidity options for brokers. By integrating Your Bourse's advanced technology with ATFX's extensive liquidity solutions, the companies believe their partnership offers several benefits to brokers. The integration of Your Bourse's ultra-fast trade execution capabilities with ATFX's Prime of Prime services is expected to create a “powerful infrastructure” for efficient trading.…
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The company said in its press release that the collaboration marks a step towards bridging the gap between traditional finance and digital assets. Built on the Ethereum blockchain, uMINT offers investors access to UBS Asset Management's institutional-grade cash management solutions. By tokenizing the assets, UBS aims to cater to the growing demand for digital financial…
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