Strengthening Financial Institutions with AI-Powered Resilience Operational resilience in financial services goes beyond cybersecurity—it demands a comprehensive strategy to identify, manage, and mitigate risks across digital systems and third-party partnerships. Regulatory frameworks like the EU Digital Operational Resilience Act (DORA) impact over 22,000 financial institutions, creating a critical need for continuous monitoring and real-time incident reporting. Through this strategic collaboration, LogicMonitor and Gieom empower financial institutions with: ✅ Proactive Compliance:Advanced real-time monitoring and observability solutions designed to meet strict regulatory mandates, helping financial firms avoid fines, maintain compliance, and build trust with customers and regulators. ✅ AI-Driven Efficiency:Intelligent automation and…
Author: Editorial Team
New research by Experian, in partnership with Fair 4 All Finance, reveals that 41 million UK consumers hold credit products, with 83% (34 million) trapped in revolving debt that remains unoptimised. Despite debt consolidation being the top reason consumers seek loans on the Experian Marketplace, many struggle to qualify due to affordability restrictions. One major challenge in debt consolidation is ‘double counting’—when lenders assess a borrower’s affordability, they often count both the existing debt and the new consolidation loan, even though the loan is meant to repay prior debts. This results in creditworthy applicants being declined, keeping them stuck in…
TransUnion has announced its agreement to acquire Monevo, a leading credit prequalification and distribution platform that connects lenders and banks with consumers seeking personalized credit offers. After acquiring a 30% stake in Monevo in 2021, TransUnion has now agreed to purchase the remaining ownership from Quint Group Limited, reinforcing its commitment to enhancing financial inclusion and responsible lending. Driving Innovation in Consumer Lending Todd Skinner, President of International at TransUnion, emphasized the strategic importance of the acquisition: “We are committed to making trust possible in global commerce by enabling secure and confident transactions. Prequalification plays a crucial role in consumer…
Lumin Digital, a leading cloud-native digital banking provider, has announced a strategic partnership with FINBOA, a process automation leader. This collaboration will empower financial institutions using Lumin Digital’s platform to automate payment dispute management, improving efficiency, accuracy, and compliance. As payment dispute volumes rise, many banks and credit unions still rely on outdated manual processes, increasing errors, compliance risks, and resolution delays. FINBOA addresses these challenges by digitizing and automating compliance-driven workflows, ensuring seamless dispute resolution. Financial institutions that integrate FINBOA’s Payment Disputes solution with Lumin Digital’s platform can expect:✅ Up to 90% reduction in dispute intake effort✅ Up to…
Azets Wealth Management has finalized an agreement to acquire Laurus Associates Limited, a well-established Chartered Financial Planning firm. This strategic move strengthens Azets’ specialist expertise in investments, pensions, and financial planning. Founded in 2002 by Karen Barwick and Colin Dawson, Laurus Associates has built a strong reputation for delivering tailored financial advice to both individuals and businesses. The firm specializes in trust planning, auto-enrolment, investment portfolios, pension property purchases, and employee benefits advice. As one of the first financial planning firms in the North East to achieve Chartered status in 2009, Laurus Associates is trusted by clients with complex financial…
Elite, a global leader in legal financial management, has announced the acquisition of Tranch, a cutting-edge platform specializing in invoice automation and flexible payment solutions. Founded in 2021 by Philip Kelvin and Beau Allison, Tranch has revolutionized law firm billing by streamlining payment processes, improving cash flow, and enhancing operational efficiency. How Tranch Transforms Legal Payments Tranch offers a suite of payment solutions, including:✅ Pay Now – Instant bank transfers via FedNow and the Real-Time Payment Network✅ Pay by Card – Secure virtual card processing✅ Pay Later – Flexible installment plans for clients while ensuring upfront cash flow for firms…
Abu Dhabi Global Market (ADGM) has unveiled a revised fee structure for obtaining and renewing commercial licenses, effective January 1, 2025. The updated schedule significantly reduces costs, with non-financial and retail businesses benefiting from fee cuts of 50% or more. New ADGM Commercial License Fees Non-Financial Businesses Retail Businesses These reductions coincide with the conclusion of the Al Reem Island transition period on December 31, 2024, and apply across ADGM’s jurisdiction, covering both Al Maryah and Al Reem Islands. Why ADGM is Lowering Fees The fee restructuring follows extensive consultations in 2023 with ADGM’s business community, focusing on expanding the…
Thomson Reuters (NYSE/TSX: TRI), a global leader in content and technology, has acquired cPaperless, LLC, operating as SafeSend, for $600 million in cash. The acquisition reinforces Thomson Reuters’ commitment to enhancing efficiency in tax and accounting processes through advanced automation. What SafeSend Brings to the Table Founded in 2008, SafeSend is a cloud-native technology provider that automates the final stages of tax return processing, including:✅ Tax return assembly✅ Review and e-signature collection✅ Secure document delivery SafeSend’s innovative solutions eliminate manual tasks, saving time for tax professionals. Currently, its software is used by firms of all sizes across the U.S., including…
Klub, a leading fintech firm specializing in Revenue-Based Financing, has partnered with Abu Dhabi Global Market’s (ADGM) Numou platform to support SMEs and startups across the UAE. This strategic collaboration will enhance access to fast, flexible, and seamless financing solutions, empowering entrepreneurs and fueling economic growth. This initiative follows Klub’s earlier announcement of a 1 billion AED credit fund under ADGM’s progressive credit fund regime, reinforcing its commitment to making capital more accessible for small businesses in the region. Numou’s tech-driven financing platform aligns with Klub’s mission to streamline funding processes, ensuring businesses receive the support they need to scale…
Levenue, the leading revenue-based financing platform in the UK and Europe, has partnered with Newfound Global, a London-based consultancy specializing in international expansion for tech startups and scale-ups. This collaboration aims to empower mid-sized businesses with fast, flexible funding options to fuel their growth without diluting equity or taking on high-interest debt. Levenue: Unlocking Growth Capital for SMEs Levenue connects businesses with investors across the UK and Europe, providing revenue-based financing (RBF) tailored to companies with predictable recurring revenue streams. Unlike traditional loans, RBF enables businesses to secure capital based on their monthly recurring revenue (MRR) while maintaining full control…
