UK Fintech Financial Crime Exchange adds MarketInvoice

MarketInvoice, a London-based business finance intermediary, announced that it has joined the UK Fintech Financial Crime Exchange (FFE), which is a joint initiative by RUSI and risk consultancy FINTRAIL.

The Fintech Exchange will work on to foster an increased understanding of financial crime issues faced by the fintech industry. It will make sure that their organizations are not misused for financial crime purposes.

Bringing together fintech firms that have agreed to collaborate, the Exchange will share best practice and pooling information on financial crime typologies in order to protect customers as well as strengthen the ability of the sector to detect and curb the global threat of financial crime that includes money laundering, terrorist financing, and bribery among others.

“Fintech businesses are using tech solutions to address today’s problems. We use AI and Machine Learning in our day-to-day business, ensuring UK businesses receive meaningful working capital quickly which they need to grow. In this endeavor, we must also have the capabilities to tackle financial crime. We look forward to collaborating with FFE members to ensure high standards and to secure the industry’s defences.” Anil Stocker, CEO and co-founder, MarketInvoice, stated, as reported by Finextra.

Through collaboration, the UK FFE members are sharing information on typologies and leveraging advanced technology to deter, prevent and detect criminality.