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ComplyCube wins third RegTech partner award amid fraud

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KAREN JOY BACUDO

Finance Editor

ComplyCube has been named RegTech Partner of the Year at the British Bank Awards for the third consecutive year, as UK banks face rising fraud and tighter compliance demands.

The recognition reflects its work with banks and financial institutions on identity verification, fraud checks and customer onboarding. It is now processing more than 10 million transactions a week worldwide.

Pressure on the sector has intensified as fraud cases rise. According to Cifas, UK fraud reached a record 444,000 cases in 2025, with almost three-quarters linked to identity fraud and facility takeover.

That has increased scrutiny of how banks verify customers while keeping digital sign-up processes simple enough to avoid losing applicants. Firms are also dealing with stricter regulatory expectations and a shift towards digital-first account opening.

ComplyCube’s platform supports verification in more than 250 countries and territories and uses more than 3,000 data points from external sources and partners. It has verified more than 4 million identities to date and maintains a 98% client onboarding rate.

The group offers biometric and document verification, sanctions and politically exposed persons screening, fraud intelligence signals, and a no-code workflow engine. Financial institutions use those tools to identify customers, flag risks, and adapt internal processes as rules and fraud patterns change.

The award adds to a run of recognition in the financial crime technology market. ComplyCube has also been included in the FinCrimeTech50 and says its clients include Citi, Lyca Mobile, AXA and Accenture.

Demand for digital identity checks has grown as financial institutions try to reduce fraud losses without creating long delays for legitimate customers. That has strengthened the position of verification and compliance software providers as banks review older onboarding systems.

Market pressure

The latest fraud figures underline why identity systems have become a central issue for lenders and payments groups. Identity fraud and account takeover can expose firms to direct financial losses, regulatory penalties and reputational damage, while weak onboarding controls can also hinder customer growth.

For banks, the challenge is not only detecting suspicious activity but doing so quickly enough to avoid disrupting applications from genuine users. This has become more important as more retail and business customers open accounts remotely rather than in branches.

ComplyCube says the scale of that challenge has helped drive its growth over the past year. It positions its products as helping regulated firms reduce fraud, meet compliance requirements and improve digital onboarding flows.

“Winning RegTech Partner of the Year for a third year running is a real milestone for the team, and a reflection of the trust UK banks and financial institutions are placing in ComplyCube. The compliance landscape is shifting fast – fraud is becoming more sophisticated, regulatory expectations are rising, and customers expect onboarding to be seamless. Our job is to give financial institutions the tools to meet all three at once, without compromise. This recognition is a credit to our customers, our partners and a team that refuses to stand still,” Tarek Nechma, Founder and Chief Executive Officer of ComplyCube, said.

The British Bank Awards are organised by Smart Money People and draw on customer feedback. Organisers said this year’s responses indicated demand for stronger digital identity and fraud-prevention measures.

“Congratulations to ComplyCube for winning RegTech partner of the year for the third year running. Following feedback in this year’s British bank awards, clients say that ComplyCube continues to demonstrate excellence in regulatory technology, delivering innovative solutions that help organisations stay compliant while strengthening the safety and integrity of customer interactions. This year, firms are facing increasing regulatory scrutiny and growing focus on digital identity and fraud prevention, so ComplyCube’s approach to streamlined and scalable compliance is more important than ever. A huge well done to the entire team on this fantastic achievement,” said Peer Jelendorf, Chief Executive Officer of Smart Money People.



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Rosa’s Thai is giving away 4000 free Pad Thais to students

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Celebrating both GCSE and A-Level Results Days, the chain will offer the popular dish to students who buy one of its bubble teas.

The free offer is available at all 42 Rosa’s Thai restaurants across England and Wales.

To avail of the free noodles, students need to register on Rosa’s Thai website for a unique code, which they should present at the restaurant together with a copy of their results.

Rosa’s Thai has a new range of bubble tea flavours, including Ube-Taro, Matcha-Coconut, Mango Sticky Rice, and Milo Chocolate Milk, as well as favourites like Home-brewed Thai Tea with Tapioca, and Lychee Mango with mango boba.

Students can sign up for their free Pad Thai at rosasthai.com/result-day-free-pad-thai and find their nearest restaurant at rosasthai.com/locations.





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Historic coin company enters administration after 20 years

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The London Mint Office, which distributes commemorative coins and medals, appointed administrators on July 31 after 20 years in business.

The company’s website now displays a message confirming the appointment of Michael Magnay and Jonny Marston of Alvarez & Marsal Europe LLP as joint administrators.

A spokesman for Alvarez and Marsal said: “On July 31 2026, Michael Magnay and Jonny Marston of Alvarez & Marsal Europe LLP were appointed as Joint Administrators of The London Mint Office Limited in administration (the “Company”).

“Regrettably, the Company’s liquidity challenges have led to a number of immediate redundancies. We are supporting the affected employees through the redundancy process.


What Happens When a Company Goes Into Administration?


“The affairs, business and property of the Company are being managed by the Joint Administrators who act as agents of the Company and without personal liability.”

The announcement confirms that it is no longer possible to purchase coins or medals through the company’s website.

The London Mint Office operates a distribution centre in Tonypandy, Rhondda Cynon Taf, where it employs a significant number of people.

Administration is a formal insolvency process triggered when a business cannot meet its financial obligations.

An insolvency practitioner is appointed to manage the company’s affairs and may attempt to restructure the business or sell off assets to repay creditors.


What happens when a company goes into Liquidation?


Founded in 2006, The London Mint Office describes itself as “one of the UK’s most trusted suppliers of historic, commemorative, and collector coins.”

It is part of Samlerhuset AS, a Norwegian company based near Oslo and one of Europe’s largest distributors of commemorative coins and medals.

Samlerhuset’s website states that it offers “provide a wide range of coins from ancient to modern, originating from virtually every country in the world.”

The London Mint Office has advised anyone with an interest in the company’s assets to contact the administrators at INS_THLMOL@alvarezandmarsal.com.





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Warning of new rules for Aldi and Lidl after watchdog review

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The Competition and Markets Authority (CMA) has provisionally decided that both discounters should be added to the Groceries Market Investigation (Controlled Land) Order 2010, which currently applies to Asda, Co-op, Marks and Spencer, Morrisons, Sainsbury’s, Tesco, and Waitrose.

This order is designed to prevent large grocery retailers from using land agreements to block competitors from opening nearby stores, often through restrictive covenants or exclusivity terms.

Juliette Enser, executive director of competition enforcement and markets at the CMA, said: “We want everyone to have the best choice of supermarket and range of prices when buying their groceries.

“To ensure this happens, we put rules in place to prevent big supermarket chains blocking rival stores from opening nearby – and now we propose applying those rules to Aldi and Lidl too.

“This is about allowing shoppers to choose where they spend their money and levelling the playing field for all major supermarkets.

“Today’s proposals are provisional and we welcome views before deciding the best way forward.”

The CMA’s review found that Aldi, Lidl GB, and Lidl NI now meet the criteria of ‘Large Grocery Retailers’ (LGRs) due to their store footprint, nationwide presence, procurement model, and the breadth of their grocery range.

Aldi and Lidl were originally excluded from the 2010 order as ‘limited assortment discounters’, offering a smaller selection of products compared to traditional supermarkets.

However, the CMA’s provisional findings indicate that this is no longer the case.

All three now operate large grocery stores, each with more than 1,000 square metres of shop floor space, and offer a full range of products, though with less category choice than some competitors.

They also purchase goods directly from suppliers through integrated wholesaling.

With the UK grocery market estimated to be worth £215 billion, Aldi and Lidl are now ranked among the top five retailers by market share.

The CMA is seeking feedback from stakeholders before reaching a final decision.

Aldi and Lidl could join the other supermarket chains later this year.

The CMA is inviting views until 5pm on Monday, September 7, 2026, and will issue its final decision in the autumn after reviewing responses.

If the discounters are included under the order, they will be prevented from using land agreements to limit competition from other supermarket chains.

The CMA aims to ensure competition across the grocery sector to give shoppers more choice and competitive pricing by removing obstacles to new store openings.





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