Fintech News

AUGUST 6, 2024

Singapore’s Minister for Transport and Second Minister for Finance, Chee Hong Tat, clarified that the Ministry of Culture, Community and Youth (MCCY) had addressed Income Insurance’s social mission and NTUC Enterprise’s rationale for the deal with Allianz. billion (EUR 1.5

Consumer Protection 94

Consumer Protection Consumer Risk Management Best Practices 94

VISTA InfoSec

AUGUST 22, 2023

As technology advances and the use of biometric data becomes more prevalent, it is crucial to address the privacy concerns and regulatory compliance associated with this sensitive data. By addressing these issues, organizations can strike a balance between reaping the benefits of biometric technology and protecting individuals’ privacy.

Privacy 130

Privacy Compliance Legal Best Practices 130

Stax

AUGUST 22, 2024

PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. Understanding, addressing, and managing them is crucial for maintaining business operations while ensuring safe payment processing for clients. The due diligence doesn’t stop at onboarding.

Risk Management 88

Risk Management Risk Regulatory Compliance Payment APIs and Integration 88

Neopay

JULY 29, 2024

Without these defined outcomes, it is challenging to assess performance accurately. Unclear management information: Firms often struggle with identifying or accessing the necessary management information or data required for their assessments. This will provide a clear benchmark for your assessments.

Consumer 52

Consumer Assessments Compliance Best Practices 52

VISTA InfoSec

FEBRUARY 13, 2024

This proactive stance enhances Singapore’s resilience against cyber threats and also serves as a model for global best practices in cybersecurity. This practice involves regularly applying patches and updates to software, operating systems, and applications to correct any potential security vulnerabilities.

Cybersecurity 130

Cybersecurity Audit Best Practices Mitigation 130

VISTA InfoSec

MARCH 5, 2024

Changes Scope Addresses specifically visitor access and authorization. Now is the time for organizations to re-evaluate their physical security strategies, conduct updated risk assessments, and refine their protection processes to align with these enhanced standards. PCI DSS v4.0 Requirement v3.2.1 (9.4, 9.4.1 & 9.4.2) PCI DSS v4.0

PCI DSS 147

PCI DSS Procedures Assessments Checks 147

VISTA InfoSec

FEBRUARY 16, 2024

a: Verify that software-development processes align with industry standards/best practices. - The software should be developed based on industry standards and/or best practices for secure development. - This ensures a clear documentation trail of security practices. PCI DSS v3.2.1 PCI DSS v4.0 Requirement 6.3

PCI DSS 100

PCI DSS Procedures Best Practices Verification 100

Seon

JUNE 24, 2024

It prevents issues such as payment fraud, account fraud (and misuse), loan fraud, and conducting business with high-risk individuals , as well as a stipulated practice for anti-money laundering (AML) compliance. million reported cases in 2023 1 alone, showcases the urgent need for risk management systems within cybersecurity protocols.

Risk Management 52

Risk Management Mitigation Risk Identity Theft 52

Neopay

JULY 4, 2024

These reports are critical for assessing and evidencing how firms have provided good outcomes for consumers under the Duty. Importance of board reports According to the Financial Conduct Authority (FCA), “Board reports are key to assess and evidence how firms have provided good outcomes for consumers under the Duty.”

Consumer 52

Consumer Risk Assessment Assessments Compliance 52

FloQast

APRIL 8, 2024

Addressing material weaknesses is not just a legal requirement but a cornerstone of corporate governance and ensuring investor confidence, no matter the company size. In this article, we define what a SOX material weakness is and provide actionable strategies and best practices to avoid it. Conduct regular risk assessments.

Compliance 52

Compliance Audit Best Practices Risk Assessment 52

Innovative Payments Association

SEPTEMBER 5, 2024

This framework should be designed to address key areas such as compliance, risk management, performance monitoring, and relationship management. It is important to have processes in place for addressing any compliance violations or issues that may arise during the relationship.

Boot Camp 52

Boot Camp Due Diligence Third Party Vendors Compliance 52

VISTA InfoSec

FEBRUARY 21, 2024

assessments.) Formally document access control task assignments for sensitive data. Delegate these tasks to appropriate staff members. Verify staff members’ understanding of their responsibilities through interviews. Verify staff members’ understanding of their responsibilities through interviews.

PCI DSS 130

PCI DSS Database Best Practices Procedures 130

EBizCharge

JUNE 27, 2024

Now that you know how to calculate days sales outstanding and valuable tools to use, you can familiarize yourself with some best practices. Here are a few best practices to keep in mind when calculating DSO: Regularly monitoring: Calculate DSO regularly, such as monthly, to track trends and address issues promptly.

Best Practices 52

Best Practices Adjustments Assessments Automation 52

Neopay

FEBRUARY 29, 2024

The focus was on assessing how additional engagement had impacted firms’ readiness for compliance. Notably, 74% of firms reported conducting fair value assessments, reflecting a proactive approach to compliance. Building upon this, a subsequent survey was conducted in Autumn 2023, targeting 634 firms not previously surveyed.

Consumer Protection 59

Consumer Protection Consumer Compliance Assessments 59

Fintech Review

FEBRUARY 13, 2024

Regulatory Frameworks Developing adaptable regulatory frameworks is essential in addressing the rapid pace of fintech innovation while ensuring consumer protection. Traditional financial regulations often fall short in addressing the unique challenges presented by fintech innovations.

Consumer Protection 105

Consumer Protection Innovation Consumer FinTech 105

Fintech News

APRIL 7, 2024

Examples include verifying the user’s personally identifiable information (PII), assessing the age and reputation of the user’s email and phone number, verifying their location via IP address, and evaluating the trustworthiness of the device to assess the user risk level.

Deepfake 117

Deepfake Scams Fraud Detection Verification 117

EBizCharge

APRIL 26, 2024

By implementing these best practices, you can ensure smoother operations and better financial outcomes for your business. Conduct credit risk assessments: Credit risk assessments involve analyzing factors such as the client’s financial stability, payment history, and credit score.

Accounts 52

Accounts Best Practices Disputes Procedures 52

FloQast

MARCH 1, 2024

The Sarbanes-Oxley Act of 2002 , commonly referred to as SOX, reflected a bipartisan congressional effort to address the root causes of those financial scandals. This report must state that management has implemented internal controls and assessed the internal control structure for accuracy and effectiveness.

Audit 52

Audit Compliance Assessments Procedures 52

Fintech Finance

MAY 8, 2024

This comprehensive needs assessment offers strategic insights into the implementation of instant recurring payments, focusing on the unique perspectives of consumers, businesses, and financial institutions. . The post U.S.

Faster Payments 52

Faster Payments FPC Payments RFP 52

Neopay

AUGUST 5, 2024

They should be equipped to challenge and assess new data, policies, or frameworks for compliance. Senior management should be capable of assessing and challenging safeguarding practices within the firm. The FCA expects firms to stay up-to-date with best practices and evolving regulatory expectations.

Compliance 52

Compliance Procedures Audit Risk Management 52

Neopay

SEPTEMBER 2, 2024

A Compliance Monitoring Plan helps you stay on top of regulatory requirements by systematically assessing your entire business operations. It’s essential for identifying areas where you may be falling short and taking action to address those gaps. How does a monitoring plan contribute to a company’s overall performance?

Compliance 59

Compliance Regulatory Compliance Money Laundering Assessments 59

Neopay

JULY 2, 2024

Outcome metrics : The review noted a range of metrics used by firms to assess outcomes, from customer complaints and satisfaction surveys to retention rates and claims ratios. The FCA highlighted that senior management must be accountable for consumer outcomes and that firms should have clear processes for escalating and addressing issues.

Consumer 52

Consumer Compliance Regulatory Compliance Assessments 52

The Fintech Times

FEBRUARY 1, 2024

Techtrust’s AI-powered hub addresses fintech skill gaps in a rapidly changing tech industry. ” Each candidate that makes up Techtrust’s FinTech Talent Hub is rigorously vetted and accredited by Techtrust and technical assessment platform CodeSignal.

FinTech 59

FinTech Database Accreditation Best Practices 59

The Fintech Times

JUNE 3, 2024

Having assessed their in-house strengths and weaknesses and developed a clear understanding of the competitive market, the next crucial move is ensuring stakeholders from C-level to operational teams are involved. This phase is core to generating shared learnings, best practices, and principles for the effective use of GenAI.

AI 69

AI Risk Mitigation Assessments Consulting 69

Neopay

JUNE 27, 2024

It is crucial to conduct a thorough assessment of your financial position and ensure that you meet the minimum capital requirements. Risk management framework: Develop a robust risk management framework that identifies, assesses and mitigates key risks associated with your business operations.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

Fintech News

JULY 4, 2024

The insurance industry stands to benefit from AI’s prowess in risk assessment and claims processing, while asset managers can leverage AI for more sophisticated portfolio allocation and algorithmic trading. One promising application is in ‘nowcasting’ – using real-time data to assess current economic conditions.

Central Bank 82

Central Bank AI Correspondent Bank Correspondent 82

The Fintech Times

MAY 15, 2024

This lack of transparency means it can be hard to identify and address potential biases or security risks. If companies cannot explain how their generative AI systems work or how they have reached their conclusions, it can raise concerns about accountability and make it difficult to identify and address other potential risks.

Cybersecurity 72

Cybersecurity AI Government Governance 72

Stax

FEBRUARY 5, 2024

That’s why understanding surcharging—including its definitions, types, calculating methods, and best practices—can help you incorporate surcharging into your operations. Over time, they’ve evolved into strategic means, addressing industry-specific challenges and adapting to economic shifts. Let’s dive in. Ethical considerations.

Credit Cards 88

Credit Cards Legal On-Demand Regulatory Compliance 88

Seon

SEPTEMBER 28, 2023

This includes protecting themselves with approaches such as multi-factor authentication and malware recognition, or using reverse lookup to assess whether someone is trustworthy. SEON’s widget, shown here, allows you to enter an email address or phone number to reveal a person’s digital footprint. Make the SAT interactive.

Security 52

Security Phishing Best Practices Data Breach 52

VISTA InfoSec

JULY 5, 2023

Personal Data: Personal information such as addresses, phone numbers, e-mails, passport data, social status, and unique identification numbers are available in a secure healthcare database. Regularly test and assess network vulnerabilities to identify and address any weaknesses. PCI DSS does not mention meaningful usage.

PCI DSS 130

PCI DSS Compliance Data Breach Breach 130

Segpay

MAY 1, 2024

The Act aims to ensure digital services’ continuity, security, and stability, particularly in critical sectors such as finance, by addressing various operational risks, such as cyber threats, system failures, and operational disruptions. A risk-based testing approach is required to detect and address potential ICT disruptions.

Compliance 52

Compliance Cybersecurity Procedures Risk Management 52

Nanonets

AUGUST 6, 2024

In this ultimate guide, we'll explore what a data annotation tool is, exploring its key features, benefits, and best practices. It's also essential to assess the scalability and security of the platform, especially if you're working with sensitive or proprietary data. G2 Rating: 4.7/5

Best Practices 52

Best Practices AI Automation Process 52

Nanonets

MAY 7, 2024

Through this guide, we will define what expense reconciliation is, explore its significance to companies, the formal methods of going about it, as well as the challenges and best practices involved. This may include regular review and validation of financial transactions, segregation of duties, approval workflows, and periodic audits.

Reconciliation 52

Reconciliation Best Practices Compliance Credit Cards 52

Fintech News

JUNE 6, 2024

A robust cybersecurity approach should include consumer education and sophisticated technology to address the complex threats posed by cybercriminals,” said Frederic. This collaborative approach ensures that best practices are shared across the banking industry and that a united front is presented against the common enemy of fraud.

Scams 92

Scams Phishing Deepfake Verification 92

Nanonets

FEBRUARY 9, 2024

In addition to validating management's understanding of their responsibility, 404A also requires an objective assessment of the company's ICFR. An assessment of how adequate internal controls were for the preceding period. A methodology statement detailing how the company determines control efficacy. What is an ICFR Audit?

Audit 52

Audit Risk Assessment Assessments Procedures 52

Seon

APRIL 11, 2024

Speak with an Expert Enhancing Risk and Fraud Assessment Through FRAML When a risk team needs to assess an individual, they would first look into traditional AML checks, such as sanctions, politically exposed persons (PEPs), and crime and financial watch lists for hits to inform their investigation.

Fraud Prevention 52

Fraud Prevention AML Money Laundering Financial Crimes 52

Core

FEBRUARY 6, 2024

The well-being of communities, and society as a whole, hinges on government organizations who provide essential services and address the needs of the public. An Overview of 7 Best Practices Adopting government fraud prevention best practices is instrumental in maintaining the resilience of public systems.

Best Practices 52

Best Practices Government Governance Fraud Prevention 52