Global Fintech & Digital Assets

DECEMBER 21, 2023

The OCC outlines safety and soundness principles and appropriate risk management processes for its regulated institutions that engage in BNPL lending. The OCC expects that banks engaged in BNPL lending “do so within a risk management system that is commensurate with associated risks.” By Arthur S.

OCC 59

OCC BNPL Electronic Fund Transfer Act (EFTA) Federal Trade Commission 59

The Fintech Times

SEPTEMBER 2, 2024

As part of the collaboration, Ant International will explore integrating its AI-driven credit tech solutions, including an automated and intelligent risk management engine, into the Dock One platform.

Financial Inclusion 70

Financial Inclusion AI Underserved Underwriting 70

FloQast

JANUARY 2, 2024

Businesses that navigate the ever-changing risk management landscape are the ones that will be most likely to succeed. PWC’s 2022 Global Risk Survey reveals that organizations embracing risk management as a strategic organizational capability are twice as likely to expect revenue growth of 11% or more in the following year.

Risk Management 52

Risk Management ISOs Risk Mitigation 52

Neopay

MAY 7, 2024

The FCA aims to assist firms in understanding regulatory expectations while empowering them to assess the adequacy of their financial crime systems and controls. This involves implementing more stringent oversight and reporting processes, aligning with the 2022 update to the Money Laundering Regulations (MLR).

Financial Crimes 52

Financial Crimes Crime Risk Assessment Money Laundering 52

Fintech News

MAY 28, 2024

The Brazilian digital bank turned a net loss in 2022 into a US$1 billion net profit in 2023, with revenues exceeding US$8 billion. According to a 2022 report by IDC , the big data and analytics market in the Asia Pacific region is expected to grow at a CAGR of 19.6% from 2022, reaching US$42.2 billion in 2023.

APACS 124

APACS Financial Inclusion Online and Mobile Banking Disaster Recovery 124

The Fintech Times

OCTOBER 10, 2024

To qualify as ‘qualified’ investors, individuals must pass a knowledge test, a suitability assessment, and provide proof of having AED 500,000 in liquid assets. The company was among the first to publish monthly Proof of Reserves in late 2022 to validate the full backing of customer funds held on the platform.

Risk Management 52

Risk Management Cryptocurrency Legal Framework Blockchain 52

FICO

JULY 31, 2019

As TPRM or third-party risk management grows in importance, so does cybersecurity risk assessment as part of it. The latest Assessment of Business Cyber Risk (ABC) report from the US Chamber of Commerce and FICO discusses four steps for improving third-party cybersecurity risk management.

Risk 70

Risk Security Risk Assessment Risk Management 70

FICO

FEBRUARY 12, 2023

Home Blog FICO Top 5 Customer Development Posts of 2022: Digital Banking and Pricing Opti The most popular posts in our Customer Development category dealt with digital banking, optimizing credit line increases, loan pricing and machine learning for credit risk models.

Posting 52

Posting Online and Mobile Banking Credit Limit Risk 52

Finovate

MAY 6, 2024

“We’re excited to partner with Coris on improving the SMB risk management process for builders of financial products,” Alloy GM of Partner Solutions Brian Bender said. “Having a wide array of data at their disposal is critical for banks and fintechs to manage identity risk across the customer lifecycle.”

Automation 52

Automation Risk Underwriting Embedded Finance 52

The Finance Weekly

JULY 19, 2022

Assisting shareholders and management in choosing more shrewd investments. Risk Management. Analyzing the effects of past and future financial activities and behavior in order to evaluate risk. Assess utilization, analyze workload, prioritize and distribute resources, and visualize how time is spent.

CRM 96

CRM Finance Database Automation 96

CB Insights

NOVEMBER 3, 2022

While insurtech funding has remained relatively flat quarter-over-quarter in 2022, insurers are still actively engaging with startups to improve their businesses — including addressing climate-related risks. . download the State of Fintech Q3 ’22 Report. Underwriting and claims automation. Insurance product innovation.

Underwriting 95

Underwriting Risk Management Risk Product 95

CB Insights

JULY 18, 2022

As fraud and cyber threats become more prevalent and sophisticated, retail banks’ mandate to protect their customers, comply with regulatory mandates, and assess risk across their entire organization has become more important than ever. get the state of fintech q2 2022 report before anyone else.

Risk 36

Risk Fraud Prevention Consumer Risk Management 36

Segpay

MAY 1, 2024

The Council of the European Union and the European Parliament formally adopted the legislation in November 2022. Some of DORA’s main pillars are: Operational Risk Management: DORA requires PSPs to implement robust operational risk management practices to identify, assess, mitigate, and monitor operational risks effectively.

Cybersecurity 52

Cybersecurity Compliance Procedures Risk Management 52

The Fintech Times

JULY 16, 2024

Em Conversa looks to uncover what the future of fintech could look like in the region, following a $2.1billion valuation in 2022. Since 2022, a lot has changed so we decided to revisit some of our earliest features to see to what extent the market has stayed the same and how much it has evolved.

Financial Inclusion 52

Financial Inclusion Consumer Assessments Interoperability 52

Global Fintech & Digital Assets

FEBRUARY 26, 2024

In December 2022, the Basel Committee issued a new standard: Prudential treatment of cryptoasset exposures. In advance of any acquisition of a new type of cryptoassets, an AI must inform the HKMA of its classification assessment of the cryptoassets.

Consulting 52

Consulting Regulations Distributed Ledger Technology (DLT) Stablecoins 52

The Fintech Times

MARCH 12, 2024

. “The use of targeted geospatial data at point of quote through data enrichment or in map form through geospatial data visualisation tools such as LexisNexis® Map View, is helping to identify customers and properties at present or future risk – from flood to subsidence to windstorm activity.

Mitigation 70

Mitigation Risk Underwriting Risk Assessment 70

Fintech News

FEBRUARY 21, 2024

MAS mandated that DPT service provider s safe keep customer assets under a statutory trust and required them to disclose the risks and fees associated with their services. The focus will shift towards assessing the impact of these frameworks on industry dynamics, balancing risk management, consumer protection, and fostering innovation.

Crime 104

Crime Ransomware Scams Stablecoins 104

FICO

APRIL 24, 2023

Trust acquired 100,000 customers in just ten days after it launched in September 2022 and exceeded 450,000, equivalent to 9 percent of the Singapore market, within just five months. We combine risk management fundamentals with data science and customer segmentation to help us arrive at optimum risk outcomes,” said Lohia.

Near Real-Time 52

Near Real-Time Risk Management Credit Cards Risk 52

Open Banking Excellence

SEPTEMBER 21, 2023

DORA came into force on 27th Dec 2022 and organisations have until 17th Jan 2025 to become compliant. DORA is designed to “make sure the financial sector in Europe is able to stay resilient through a severe operational disruption”, the Council of the EU wrote in a statement announcing DORA in 2022. “We

FinTech 130

FinTech Compliance Regulations Non-Bank 130

Fintech Finance

DECEMBER 13, 2023

Napier is providing its Transaction Monitoring, Client Screening, Client Risk Assessment and Client Activity Review solutions to noqodi, in order to further strengthen its commitment to supporting the government’s initiative to a secure, cashless, digital economy.

Digital Payments 52

Digital Payments Financial Crimes Security Payment APIs and Integration 52

Nanonets

APRIL 5, 2023

In the world of lending, risk management is crucial to success. But with a growing number of loan applications and an increasing number of delinquencies, how can lenders effectively manage risk without sacrificing efficiency? The answer lies in automating steps in the lending process.

Automation 52

Automation Process Risk Assessment Assessments 52

The Fintech Times

MARCH 9, 2024

According to Polaris Market Research , the global BNPL market is projected to expand from $6.24billion in 2022 to $80.52billion by 2032. This shift aligns with the financial industry’s broader trend of prioritising profitability, sustainable growth and risk management amidst economic uncertainty.

BNPL 70

BNPL Risk Management Risk Push-to-Card 70

FICO

MARCH 23, 2023

January saw inflation slightly pegged back compared to the end of 2022; retail sales also improved marginally in the new year. Highlights Average total sales per card down 8 percent compared to December 2022 at £755 Percentage of credit card accounts with two missed payments 13.6

Credit Cards 52

Credit Cards Payments Advisors Card Issuer 52

PYMNTS

NOVEMBER 12, 2020

Mastercard’s Vocalink’s offering supports the requirements of Payments Canada, such as the Bank of Canada’s risk management criteria and ISO 20022. The RTR is forecasted to roll out in 2022. Payments Canada is collaborating with Mastercard’s Vocalink for settlement and clearing for the nation’s new RTR payments system.

ISO 20022 57

ISO 20022 FinTech Payments ISOs 57

FICO

JANUARY 24, 2023

These are some of the UK market patterns seen in the November 2022 data: Average total credit card sales in November reversed the downward trend seen over the previous few months, to be 1.9 percent higher than October 2022 at £755 The percentage of consumer payments to balance dropped by 2.8 percent Year-on-year there were 14.8

Credit Cards 52

Credit Cards Consumer Payments Advisors 52

FICO

APRIL 19, 2023

However, since February 2022, this has been increasing in line with the cost-of-living crisis and the average is currently more than 60 percent higher for the Established group. In comparison, the average Established cards balances at risk was 47 percent higher than all vintages in 2018.

Credit Cards 52

Credit Cards Accounts Risk Management Risk 52

Nanonets

AUGUST 1, 2023

Internal audits play a crucial role in assessing a company's internal controls, corporate governance, and accounting processes. The Institute of Internal Auditors' 2022 North American Pulse of Internal Audit reveals that if CAEs had additional funds, 48% would prioritize increasing staff, while 25% would focus on technology.

Audit 52

Audit Automation Risk Assessment Bots 52

FloQast

OCTOBER 27, 2023

While it can feel burdensome, compliance management has become a critical risk management feature and is too important to ignore. Unfortunately, compliance management is no walk in the park. In 2022, the Securities and Exchange Commission (SEC) levied $1.1 For federal tax compliance, the U.S.

Compliance 52

Compliance Best Practices Mitigation Procedures 52

Nanonets

AUGUST 1, 2023

 According to TechNavio , the audit software market is poised for substantial growth, with an estimated Compound Annual Growth Rate (CAGR) of 13.36% anticipated between 2022 and 2027. Risk Assessment: Audit automation helps auditors assess risks more effectively by identifying potential red flags and areas of concern within the data.

Audit 40

Audit Automation Risk Assessment Payment APIs and Integration 40

Fintech News

JANUARY 16, 2024

Generative AI offers many applications in banking, from enhancing due diligence and risk management to streamlining legal contract generation and code writing. In 2022, data showed that bank customers still frequently utilised branches for various services.

AI 111

AI Risk Non-Bank On-Demand 111

Accertify

MAY 30, 2023

billion to fraud in 2022, an increase of more than 30 percent over the previous year. If they fail they risk increased fraud losses and losing good customers who had their account taken over. The technology helps you assess the legitimacy of account access. That’s where account protection comes in.

Fraud Prevention 52

Fraud Prevention Federal Trade Commission Technology Account Takeovers 52

FICO

MARCH 21, 2023

Like in years past, we also surveyed SFVegas 2023 attendees on the overall economic climate and how they use credit scores to support securitization risk management. 14% said the financial outlook for their company was very strong, and another 50% assessed the outlook as strong. Leading Secondary Market Participants Weigh In

Participant 52

Participant Credit Risk Risk BNPL 52

Stax

JULY 16, 2024

A study by the Pew Research Centre found that in 2022, 41% of consumers didn’t use cash for weekly purchases of essentials like groceries and gas. As a business owner, we suggest that you take the PCI SAQ (Self-Assessment Questionnaire) to check if your business is compliant. In 2022, 31% of all payments were made using credit cards.

PCI DSS 88

PCI DSS Compliance Credit Cards Encryption 88

FICO

JUNE 1, 2023

If you are a Risk Manager, you should be reviewing lending strategies to ensure customers are receiving the right treatment across the lifecycle and getting the help that is needed if debts cannot be fulfilled. Tools at myFICO.com are also available to help consumers track their credit usage and FICO® Score.

Credit Cards 52

Credit Cards Federal Reserve Tax Refunds Returns 52

Fintech News

JANUARY 24, 2024

Data from MAS’ Financial Institutions Directory show that as of August 01, 2022, 231 Money-Changing, 13 Standard Payment Institutions, and 175 Major Payment Institution licenses had been issued. Following its latest feedback publication on DPT regulations, MAS has introduced rules focusing on business conduct and technology risk management.

Service Provider 98

Service Provider Cryptocurrency Payments Institute Stablecoins 98

Stax

JANUARY 10, 2024

According to Capital One, global credit card transactions in 2022 reached an estimated 678 billion —an average of 1.86 Credit card fees, including interchange, assessment, and payment processor fees, impact businesses on a per-transaction or recurring basis. billion every single day. Usually, interchange fees will range between 0.3-2%

Credit Cards 88

Credit Cards Processors Debit Card Processing Costs 88

FICO

OCTOBER 19, 2022

Wed, 10/19/2022 - 13:20. FICO’s report of UK card risk trends for summer 2022 (June-August) paints a picture of inconsistent consumer behaviour and market patterns which will be challenging for lenders to manage as the cost-of-living crisis impacts financial spending and consumer finances. Darcy Sullivan. by Liz Ruddick.

Risk 52

Risk Credit Cards Advisors Card Issuer 52