Latest news with #RomanEloshvili
Yahoo
12-07-2025
- Business
- Yahoo
I'm a Bank Expert: 7 Reasons You Should Ditch Your Traditional Bank for an Online Bank or Neobank in 2025
According to a MarketWatch Guides survey, 56% of Americans access their banking accounts primarily through mobile apps, and only 16% regularly visit physical bank branches. The survey also revealed that 13% of Americans never visit a bank. During the Capital One outage earlier in the year, many banking customers were unable to access their accounts and funds. While online banks and neobanks are gaining popularity, not everyone has an account yet. Read Next: Explore More: Why should people consider a switch to an online bank or neobank this year? Here are seven reasons you could consider making the switch and how they could benefit your finances. 'If you're like the majority of Americans who rarely visit their physical bank, you're essentially paying higher fees and accepting lower interest rates to make up for the costs of maintaining physical locations,' said Laurie Sepulveda, a CEPF and MarketWatch Guides banking expert. If you're already banking digitally, you may not require access to a physical branch. You'll want to think about the last time you went in person. The reality is that you could be paying banking fees for a physical location that you may never visit. Be Aware: 'Most neobanks operate without the need to maintain physical branches, which often means lower fees for their services, better interest rates and more savings for end users,' said Roman Eloshvili, a banking expert and founder of XData Group. Digital banks and neobanks generally offer lower fees and better rates, as they don't incur the expenses associated with maintaining physical locations to provide in-person banking services. The savings can be passed down to customers, and you could keep more of your money in your account. Sepulveda pointed out that online banks lead in digital security because it's part of their core business model, not an add-on service. 'Traditional banks have legacy systems that present more challenges for securing both digital and physical access points,' she said. Online banks can also offer more advanced features, such as fraud monitoring, biometric authentication and instant account alerts. This additional security and innovation can help you save money by avoiding potential issues with fraud. Traditional banks may not always have the best user experience when it comes to apps and online financial transactions. Eloshvili noted that the user experience as a whole is generally better with digital banks, as users can receive instant notifications, full access to a suite of tools and 24/7 support. Many younger banking customers are accustomed to living on their smartphones and expect to be able to conduct their banking and financial transactions through apps. You can start by going over the reviews of online banks or neobanks to see what others are saying to ensure that you have your money stored somewhere where you can easily access it and handle your transactions smoothly. Sepulveda said that, according to a MarketWatch Guides survey, the most popular banking activities are paying bills, transferring funds between accounts and tracking spending. Since online banks make these tasks easier and more efficient, it may make sense to make the switch to match your banking habits. Online banks can also offer higher-quality budgeting tools, from spending categorization to financial insights. If you're looking to gain a better understanding of your finances or get better with your spending habits, you can use these tools to assist you. Since online banks and neobanks are built for the digital world, they also do a great job accommodating that demand. The experts pointed out that you can get faster service and greater control over your finances. You won't have to make an appointment with a consultant or wait in long lines when you have any questions. Most of the time, all of the financial help you could ask for is available at your fingertips. This means if you're looking for advice on paying down debt, saving up for a home or figuring out your retirement accounts, you could likely find it easier with a bank that's set up for the digital experience. Eloshvili emphasized that many neobanks facilitate the management of multiple currencies, including access to crypto assets. Since these accounts are constantly evolving to meet modern financial habits, you'll likely have greater flexibility over how you manage your finances and investing habits. Since traditional banks can struggle to keep up, you'll want to think about making the switch to an account that matches what you're looking for. More From GOBankingRates 7 Things You'll Be Happy You Downsized in Retirement This article originally appeared on I'm a Bank Expert: 7 Reasons You Should Ditch Your Traditional Bank for an Online Bank or Neobank in 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
11-07-2025
- Business
- Finextra
ComplyControl becomes UK Finance associate member
The ComplyControl UK Finance Membership is a big step forward for the regtech company as it expands its presence in the UK financial ecosystem. ComplyControl is an associate member of UK Finance, which gives it access to important industry conversations that are shaping the future of compliance, regulation, and risk management. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. ComplyControl made its entry into the UK market in 2024, with a clear mission of making regulatory compliance more accessible for all financial organizations through AI-driven solutions. In just a year, the company has achieved tremendous progress, having been named a finalist in the UK Startups 2025 ranking and recognized in both the AITech35 2025 and FinTech50 2025 lists by TechRound. Becoming part of UK Finance is yet another major milestone and a clear sign of the trust ComplyControl has built within the industry. UK Finance represents over 300 firms and represents the centre of the UK's financial services sector. The association's members work together to enhance trust and expertise across this landscape. Having now also become a part of this effort, ComplyControl aims to ensure that the UK remains a safe, innovative, and responsible global leader in finance. 'Achieving our membership in UK Finance marks an important step forward in our journey to reshape compliance,' said Roman Eloshvili, Founder of ComplyControl. 'We look forward to collaborating with industry leaders and bringing our solutions to more financial market players across the UK. Together, we can help shape a safer financial ecosystem for tomorrow.' ComplyControl's team fully shares UK Finance's values of integrity, excellence, and leadership. The company is committed to driving innovation and setting new standards for the quality of services and best practices for the industry. Its vision is to reduce the barriers to effective compliance by leveraging AI and modern technologies, helping financial institutions of all sizes manage risks and stay ahead of ever-evolving regulatory demands. 'We're thrilled to be joining forces with UK Finance and its network, equipping financial firms in this region with the technologies and expertise they can use to better protect their customers and remain competitive in an increasingly complex landscape,' added Mr. Eloshvili. 'We are delighted to welcome ComplyControl to our Associate Membership at UK Finance. Our Associate Membership is open to organisations that support the financial services industry and enhance our work and benefit our members. We look forward to working collaboratively with their team through various events and thought leadership where they can share their expertise,' said Jason Cole, Director, Associate Membership & Strategic Partnerships.
Business Insider
11-07-2025
- Business
- Business Insider
Strengthening UK Ties: ComplyControl Becomes Associate Member of UK Finance
ComplyControl, a provider of cutting-edge AI-driven solutions for banks and financial institutions, is excited to announce that it has officially become an Associate Member of UK Finance, the leading trade association for the UK financial services sector. ComplyControl made its entry into the UK market in 2024, with a clear mission of making regulatory compliance more accessible for all financial organizations through AI-driven solutions. In just a year, the company has achieved tremendous progress, having been named a finalist in the UK Startups 2025 ranking and recognized in both the AITech35 2025 and FinTech50 2025 lists by TechRound. Becoming part of UK Finance is yet another major milestone and a clear sign of the trust ComplyControl has built within the industry. UK Finance represents over 300 firms and represents the centre of the UK's financial services sector. The association's members work together to enhance trust and expertise across this landscape. Having now also become a part of this effort, ComplyControl aims to ensure that the UK remains a safe, innovative, and responsible global leader in finance. 'Achieving our membership in UK Finance marks an important step forward in our journey to reshape compliance,' — said Roman Eloshvili, Founder of ComplyControl. 'We look forward to collaborating with industry leaders and bringing our solutions to more financial market players across the UK. Together, we can help shape a safer financial ecosystem for tomorrow.' ComplyControl's team fully shares UK Finance's values of integrity, excellence, and leadership. The company is committed to driving innovation and setting new standards for the quality of services and best practices for the industry. Its vision is to reduce the barriers to effective compliance by leveraging AI and modern technologies, helping financial institutions of all sizes manage risks and stay ahead of ever-evolving regulatory demands. 'We're thrilled to be joining forces with UK Finance and its network, equipping financial firms in this region with the technologies and expertise they can use to better protect their customers and remain competitive in an increasingly complex landscape,' — added Mr. Eloshvili. "We are delighted to welcome ComplyControl to our Associate Membership at UK Finance. Our Associate Membership is open to organisations that support the financial services industry and enhance our work and benefit our members. We look forward to working collaboratively with their team through various events and thought leadership where they can share their expertise" Jason Cole, Director Associate Membership & Strategic Partnerships. ComplyControl is a UK-based provider of AI-driven services that improve risk management and ensure regulatory compliance for financial organizations of all sizes. The company specializes in AI-powered solutions that make compliance faster, smarter, and more cost-effective. From automated transaction screening against sanctions lists to real-time fraud detection and behavioural analysis, our tools help banks reduce manual workloads and stay resilient against financial crime.
Yahoo
07-05-2025
- Business
- Yahoo
ComplyControl Named One of the UK's Top 50 Fintech Startups by TechRound
LONDON, May 7, 2025 /PRNewswire/ -- ComplyControl , a fast-growing UK-based startup that uses AI solutions to transform compliance for banks and financial institutions, has been named one of the winners of the FinTech50 2025 list by TechRound – the UK's leading startup and tech publication. Founded in 2016, TechRound is one of the most respected and fastest-growing media platforms in the UK, widely read by investors, founders, and decision-makers in the tech space. Each year, its FinTech50 list picks out the most promising fintech startups that are changing the way the world thinks about finance. From payments and personal finance to blockchain and compliance, the ranking highlights companies bringing fresh ideas and meaningful innovation to the financial services sector. The winners are selected based on their impact, originality, and growth potential. ComplyControl was founded to tackle the high costs and inefficiencies associated with traditional compliance processes in modern-day realities. Through its AI-powered tools, the company helps financial institutions streamline much of the internal processes. Quickly screening bank transactions against global sanctions lists, detecting potential fraud and suspicious activity ahead of time, and more – all with greater accuracy and speed than manual checks or legacy systems. One of ComplyControl's standout features is its recently launched visual compliance rules editor. This tool allows compliance officers to build custom transaction monitoring rules without any need for in-depth coding knowledge, making the process faster and more accessible. The editor also includes a built-in AI assistant that helps analyse the effectiveness of the rules, ensuring that they remain relevant and up-to-date. "At ComplyControl, we are focused on building products that solve real pain points in the financial services industry," – said Roman Eloshvili, Founder of ComplyControl. "Our goal is to make compliance smarter and more accessible, so that companies can focus less on regulatory stress and more on growth. For small and mid-sized firms, in particular, it shouldn't be a roadblock to effective operations. Being recognised by TechRound like this is a strong validation of our mission and the hard work of our team. It signals the growing recognition of AI's importance in the future of financial compliance and the fintech ecosystem as a whole. As we continue to grow and expand our services, ComplyControl aims to become the go-to compliance partner for forward-thinking financial institutions."
Finextra
06-05-2025
- Business
- Finextra
XData Group to go public on Nasdaq via blank check merger
Estonian banking technology provider XData is to go public on the Nasdaq market via a Spac merger with blank-check firm Alpha Star Acquisition Corporation. 0 The business combination transaction is valued at $180 million and is set for a public debut in the first half of 2025.. Founded in 2022, XData Group offers services ranging from front-end to back-end app development, custom software creation, UX/UI design, and prototype and MVP testing for online banking, alongngside AI-based tools that streamline KYC checks, compliance processes and fraud detection, The company has tripled its workforce in 2024 and launched its flagship banking platform, designed to enhance user experience and operational efficiency in online banking. Headquartered in Tallinn, Estonia, the company has also recently expanded its affiliation to Armenia and Spain. XData Group will continue to be led by its founder and CEO, Roman Eloshvili, who will oversee the company's further development. Says Eloshvili: "At XData Group, we are committed to delivering cutting-edge services to as many financial institutions as possible. The deal with Alpha Star represents the next step on our journey. Going public will provide us with the resources needed to accelerate the development of new products, as well as new industry partnerships."
