💸 Monzo's £21M Fine

What we’ll cover today:

• FCA’s £21M fine for Monzo: The lowdown

• Clarity AI’s big acquisition move

• Upcoming fintech events you shouldn’t miss!

Clarity AI Acquires Ecolytiq 🌱

Clarity AI, a sustainable tech company, has acquired Ecolytiq, a startup focused on carbon tracking and climate insights.

🚨Breaking News: Clarity AI strengthens its sustainability tech with Ecolytiq’s solutions, helping banks offer carbon insights and green loans to customers.

⚡Wire Simplified –

• Clarity AI has acquired Ecolytiq, a climate engagement startup.

• Ecolytiq provides carbon tracking for financial institutions.

• The acquisition includes Visa as an investor and strategic partner.

• Clarity AI will add Ecolytiq’s tools to its sustainability suite.

• Ecolytiq's platform helps users track their carbon footprint and access green loans.

✔️Straight to the Point –
Clarity AI expands its sustainability offerings by integrating Ecolytiq’s tools, aiming to make climate-conscious banking the new norm.

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Monzo Fined £21M for Financial Crime Failures 💰

Monzo, a UK-based digital bank, has been fined £21M by the FCA for failing to prevent financial crime between 2018-2022.

🚨Breaking News: The FCA has fined Monzo £21M for poor financial crime controls, including onboarding high-risk customers and lack of monitoring.

⚡Wire Simplified –

• Monzo failed to stop financial crime between 2018-2022.

• They onboarded over 34,000 high-risk customers.

• FCA fined Monzo £21M, but the bank resolved issues.

• Monzo has enhanced its financial crime controls.

• CEO says the issues are from years ago and improvements have been made.

✔️Straight to the Point –
Monzo’s past failings in financial crime control have led to a hefty fine, but they claim the problems are now behind them.

Money20/20 USA 2025
Money20/20 USA is a premier event that brings together the global FinTech community to discuss the future of money, payments, and financial services. The event features industry leaders, innovators, and disruptors.
Date: October 26–28, 2025 | Location: Las Vegas, NV, USA

Book your seat here

Latin America FinTech Summit 2025
This event highlights innovations in the LatAm FinTech market, focusing on remittances, digital banking, and financial inclusion.
Date: October 2025 | Location: Mexico City, Mexico

Book your seat here

Singapore FinTech Festival 2025
The Singapore FinTech Festival is one of the world's largest FinTech events, bringing together industry leaders, startups, and investors to discuss the future of financial technology. The event features conferences, exhibitions, and networking opportunities.
Date: November 9–13, 2025 | Location: Singapore

Book your seat here