Latest Identity News: Finextra Research

CFIT launches coalition to fight economic crime through verification

The UK Centre for Finance, Innovation and Technology (CFIT) has put together an industry coalition to fight economic crime through enhanced verification.

11 June 2024

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Revolut adds new in-app verification layer to counteract theft from stolen mobiles

Revolut has added an extra layer of in-app identity verification designed to protect customers who have had their unlocked phone stolen, or password and face recognition compromised.

10 June 2024

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Payment identity network iPiD secures $5.3 million funding round

Founded by a team of former Swift executives, iPiD (International Payment Identity) has raised $5.3 million to roll out a Confirmation of Payee product across Europe.

05 June 2024

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EBAday 2024: 100 banks registered and ready to fuel the payments technology conversation

Q. What does the payments sector look for in a conference? A. The number of banks registered to attend and the number of bank speakers on the agenda, ready to openly communicate to the audience how they are currently leveraging technology.

29 May 2024

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Australia passes Digital ID Bill

The Australian Government has passed the Digital ID Bill 2024 and Digital ID (Transitional and Consequential Provisions) Bill 2024.

17 May 2024

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CommBank's x15 Ventures rolls out Truyu digital ID app

In the week that the Australian Federal Government committed $288 million to advance digital ID and tackle identity theft, CommBank's venture scaler unit x15Ventures has developed Truyu, an app that alerts users when there credentials are at risk of being misused by fraudsters.

14 May 2024

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SoFi fined $1.1 million over flawed ID programme that led to multi-million dollar fraud

SoFi's self-directed retail brokerage unit has been fined $1.1 million by financial regulator Finra over ID verification failures that enabled thieves to steal $8.1 million from the accounts of customers at other financial institutions.

08 May 2024

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Fime acquired by Gallant Capital

Private equity firm Gallant Capital Partners has acquired payments consultancy and testing specialist Fime as well as the UL Solutions payments testing business and merged the two. Financial terms were not disclosed.

07 May 2024

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Permira to take majority stake in BioCatch

PE firm Permira is buying a majority position in BioCatch in a deal that values the Israeli behavioural biometrics company at $1.3 billion.

03 May 2024

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NextGen Nordics 2024: Can behavioural biometrics fix fraud?

Moderating her second panel of the day - Fraud prevention and AML: the need for behavioural biometrics in this instant age - Finextra’s senior reporter Niamh Curran spoke to Megan Heald, senior project manager at NICE Actimize, John Sam-Kubam, senior vice president at Crown Agents Bank, Beju Shah, head of Nordic centre at the Bank of International Settlements, and Robert Woods, director international market planning and financial services SME at LexisNexis® Risk Solutions.

25 April 2024

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Emirates NBD carries out PoC for digitally native trade documents

Emirates NBD has teamed with a trade finance platform and two fintechs on a proof-of-concept for a transaction involving digitally native trade documents with the application of participants' digital identity.

25 April 2024

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EBAday 2024: The future of CBDCs, tokenised deposits and stablecoin adoption

Tokenised money is on the horizon in numerous countries. This week, the Bank of England’s Sarah Breeden announced that a discussion paper will be released in summer 2024 to draw on input from the private sector to complement the work being conducted on stablecoin regulation and retail central bank digital currency (CBDC).

22 April 2024

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