Financial institutions stories

Siemon appoints Trey Somers as VP of Product Management to lead global product team, aiming to innovate and adapt to market needs. Somers brings 20+ years' expertise.

Rimini Street is set to revolutionise tech support in the financial sector, offering robust and cost-effective solutions for digital transformation.

Alveo merges with Gresham Technologies to form a data automation titan, aimed at revolutionising data management and efficiency for global financial markets.

It comes after a major IT outage linked to a Windows security update stopped essential services around the world, causing significant disruption.

CrowdStrike's Falcon sensor causes global Windows BSOD, hitting emergency, banking, and aviation sectors.

Endor Labs secures strategic investment from Citi Ventures, boosting its mission to protect software supply chains for major financial institutions.

A Darktrace report reveals that 71% of UK businesses have faced AI-powered cyber threats, with 95% feeling unprepared. Firms like Barclays and HSBC are at risk.

eflow Global's TZEC upgrade leverages AI to enhance eComms surveillance, aiming to curb market abuse and meet strict regulatory demands amid rising fines.

CloudSEK reveals a surge in investment scams through WhatsApp and Telegram, with 29,000 fraudulent ads on Facebook and over 81,000 fake Twitter accounts.

REGnosys has open-sourced its regulatory language Rune to FINOS, aiming to streamline compliance and reduce UK banks' annual reporting costs of up to GBP £4.5 billion.

Azul sees a surge in Asia Pacific, driven by Oracle's Java SE pricing changes and rising cloud costs. New bookings jumped 37% in FY24, with a 437% rise in Q1 FY25.

BioCatch's latest report on APAC digital banking fraud trends reveals a 70% rise in mobile app fraud and a dramatic 108% surge in voice scams, alongside a notable decline in fraud losses in Australia.

OMS Group has secured USD $292.5 million for global expansion in subsea telecommunications from a consortium including HSBC and KKR Capital Markets.

Bank fraud is projected to reach USD $48 billion globally by 2029, a 153% surge, driven by evolving AI tactics, says Juniper Research.

Bendigo and Adelaide Bank pairs with MongoDB to modernise its core banking tech using MongoDB Atlas and generative AI, aiming to slash costs and boost innovation.

Bank of China (Hong Kong) has launched a feature allowing customers to track carbon emissions via spending, thanks to a new partnership with fintech firm Cogo.

Transact Payments rebrands as TransactPay after a year-long transformation, aiming to strengthen its position as a premier BIN sponsor in the UK and Europe.

Lucinity unveils an advanced AI copilot plug-in at Money2020 Europe, promising instant ROI and up to 90% productivity boosts for financial institutions.

Centennial Bank partners with Newgen Software to digitise onboarding, enhancing customer experience with a streamlined, low-code automation solution.

A new report by Signicat and Consult Hyperion reveals the growing threat of AI-driven identity fraud across Europe, urging financial institutions to boost their defences.