The financial world is increasingly propelled by the need for security and trust. In the engines of finance, compliance holds the gears together, ensuring everything runs smoothly and safely. A pivotal part of this compliance mechanism is Know Your Business (KYB), a process designed to vet and
In the rapidly evolving financial landscape, credit unions (CUs) and FinTech firms alike are keenly aware that the road to future prosperity is paved with digital innovations. As they both aim to expand their market presence, a keen focus has been placed on harnessing modern digital solutions,
As the banking sector forges ahead with digital transformation, it is increasingly becoming a prime target for sophisticated cybercriminals. The stakes are high as these institutions grapple with protecting not just colossal financial assets but also sensitive customer data. In an era where digital
Amidst the currents of the economy, a stark truth emerges: nearly a third of Americans are navigating without the compass of basic financial literacy. The GOBankingRates 2024 Financial Literacy Survey casts a spotlight on this critical issue, revealing the urgent need for greater financial
In an era where innovation is currency, the financial sector is not left behind. The news is abuzz with one such stride in the banking industry — the integration of Mbanq into the Banking-as-a-Service (BaaS) Association. This move represents more than just an addition to a list of names; it's a
The recent shift in the retirement landscape has led many Americans to reconsider their exit from the workforce. With the rising cost of living nudging some retirees back into the job market, "unretiring" is becoming an increasingly popular choice. However, this decision comes with a
In a significant security incident, Santander Bank fell victim to a hefty cyberattack conducted by the notorious hacking group ShinyHunters. This event unfolded in May, coinciding with another targeted attack on Ticketmaster. Millions of customers and employees of Santander Bank were affected as
The financial industry has been undergoing a profound and accelerated transformation driven by the innovation engine of financial technology, or fintech. This amalgamation of finance and cutting-edge tech is streamlining services, expanding access, and offering unprecedented convenience to
The House of Representatives has recently passed a significant piece of legislation that could reshape the cryptocurrency landscape in the United States. The "Financial Innovation and Technology for the 21st Century Act" (FIT21) showcases bipartisan support but now awaits a potentially
The European Banking Authority (EBA)'s role extends beyond mere oversight, actively shaping the robust infrastructure necessary for a stable EU financial market. Through its rigorous EU-wide stress testing, the EBA challenges banks against hypothetical adverse market conditions, thus ensuring
