The Fintech Times

MARCH 26, 2024

As insurers strive to meet the evolving needs of a digitally-savvy customer base while addressing the persistent challenge of financial inclusion, they are increasingly turning to fintech solutions. “Data can support efforts to assess flood risk more accurately, especially as the risk itself continues to evolve.

Underserved 114

Underserved FinTech Financial Inclusion Risk 114

Fintech Finance

OCTOBER 24, 2024

Set to go live in early 2025, this premiere payments solution will integrate Plaid’s instant account verification (IAV) and network-powered risk assessment capabilities into Dwolla’s pay by bank platform.

Risk Assessment 93

Risk Assessment Payment APIs and Integration Verification Assessments 93

VISTA InfoSec

JANUARY 29, 2024

The prevention, detection, and addressing of malicious software (malware) is ensured. 5.3 Employing anti-malware solutions that address all types of malwares is crucial in safeguarding systems from both current and evolving malware threats. This is to ascertain whether these systems continue to not necessitate anti-virus software.

PCI DSS 130

PCI DSS Phishing Best Practices Procedures 130

VISTA InfoSec

FEBRUARY 13, 2024

Vulnerability assessments involve scanning systems for known weaknesses, while penetration testing (or pen testing) takes a more aggressive approach by simulating cyberattacks to evaluate the effectiveness of current security measures. Implementing a structured patch management process is key to overcoming this challenge. 5/5 - (1 vote)

Cybersecurity 130

Cybersecurity Audit Best Practices Mitigation 130

Fintech News

JUNE 23, 2024

Singapore has released its updated Money Laundering (ML) National Risk Assessment (NRA) , highlighting increased risks in the digital payment token (DPT) services sector. The updated assessment highlights increased risks due to economic and geopolitical shifts, as well as the rise in technology-enabled transactions.

Money Laundering 90

Money Laundering Risk Crime Law Enforcement 90

Fintech Review

FEBRUARY 13, 2024

This proactive stance involves continuous engagement with technological advances and collaboration with fintech firms to understand potential vulnerabilities. Regulatory Frameworks Developing adaptable regulatory frameworks is essential in addressing the rapid pace of fintech innovation while ensuring consumer protection.

Consumer Protection 105

Consumer Protection Innovation Consumer FinTech 105

Fintech News

MAY 8, 2024

As digital technologies continue to transform the financial landscape, central banks worldwide are exploring the potential of Central Bank Digital Currencies (CBDCs). To address these objectives, the BOT conducted the pilot test within a confined environment, divided into the Foundation Track and the Innovation Track.

CBDC 104

CBDC Bots Real Time Gross Settlement (RTGS) Non-Bank 104

VISTA InfoSec

OCTOBER 21, 2024

Understanding the significance of cyber security is crucial for protecting sensitive data and ensuring business continuity. Establishing reliable backup protocols can mitigate the impact of ransomware and ensure business continuity in times of crisis. Documenting any suspicious activity or messages seen prior to isolation.

Security 130

Security Phishing Ransomware Risk Assessment 130

Fintech Review

NOVEMBER 27, 2024

Alternative Credit Scoring Models Fintech companies use data beyond traditional credit scores, such as transaction histories, online reviews, and even social media presence, to assess risk. Tala assesses creditworthiness through smartphone data, while Kiva uses peer-to-peer lending to connect small businesses with global investors.

FinTech 105

FinTech Cross-Border Cross-Border Payments Online and Mobile Banking 105

Fintech Review

MAY 7, 2024

Machine learning is particularly transformative in various fintech applications, such as personalised financial advice and risk assessment, marking a transformative shift in financial methodologies towards more advanced, data-driven approaches. This dynamic learning process allows them to adapt and improve continuously.

AI 98

AI FinTech Risk Assessment Fraud Detection 98

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 88

Consumer Protection Consumer Risk Management Best Practices 88

PYMNTS

NOVEMBER 27, 2019

That is to say, mass adoption will take time, and the factors driving that adoption will almost certainly continue to change and shift as end users’ needs do the same. There are a few major pain points in corporate cross-border payments today, Halpin explained, which are greatly addressed with faster and real-time payment networks.

ISO 20022 117

ISO 20022 Cross-Border Payments ISOs Cross-Border 117

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 111

Deepfake Scams Fraud Detection Verification 111

FICO

JULY 29, 2020

There is further evidence overseas that future spikes will continue to occur as countries attempt to relax restrictions. Currently, banks are moving to phase 2 where their customers’ individual circumstances are discussed at length and an assessment is made on the need for ongoing support. Source: [link].

Assessments 95

Assessments Risk Addressing Returns 95

FICO

MARCH 8, 2021

The FICO® Safe Driving Score leverages telematics data from driver smartphones to assess risky behaviors. This data is used by the Mentor by eDriving SM smartphone app, which prescribes in-app training modules and manager coaching designed to address identified areas of risk, to help improve a driver’s score and reduce risk.

Risk 98

Risk Risk Assessment Assessments Risk Management 98

PYMNTS

JUNE 25, 2020

As accounts payable (AP) and accounts receivable (AR) operations continue to converge for many organizations, buyers and suppliers are increasingly acknowledging the value of using each other’s technology platforms to promote stronger B2B relationships. Peasy Explores The Early Payment Incentive.

B2B 112

B2B Cross-Border Credit Risk Accounts 112

Fintech News

MARCH 21, 2024

SEON’s multi-layered fraud prevention solution employs machine learning and artificial intelligence to safeguard PayLabo users with transaction monitoring, device fingerprinting, and comprehensive assessments to mitigate unauthorised use. The PayLabo platform has been able to offer this to its users since its launch.

Payment Service Provider (PSP) 90

Payment Service Provider (PSP) Fraud Prevention Cybersecurity Mitigation 90

VISTA InfoSec

JULY 5, 2023

The Importance of Data Security in Healthcare As the healthcare industry rapidly embraces new technologies to enhance the delivery of healthcare services, the significance of data security continues to escalate. Regularly test and assess network vulnerabilities to identify and address any weaknesses.

PCI DSS 130

PCI DSS Compliance Data Breach Breach 130

The Payments Association

NOVEMBER 25, 2024

Their guidance urges banks to adopt a proportionate approach, assessing MSBs individually rather than applying blanket policies that exclude entire sectors. Banks continue to sever ties with MSBs like PFS without individualised assessments, often citing AML concerns or geopolitical risks associated with countries like Iran.

Risk 88

Risk Financial Crimes AML Financial Inclusion 88

Seon

MARCH 20, 2024

trillion annually, reflecting a 56% increase over the past decade, the urgency to address digital fraud has never been more acute. Digital Footprinting as a Critical Assessment Tool As businesses bleed five percent of their annual revenues to fraud, the imperative to reassess and fortify their fraud prevention strategies mounts.

Fraud Prevention 98

Fraud Prevention Assessments Phishing Mitigation 98

Fintech Finance

DECEMBER 6, 2024

The combined solutions protect the entire digital payments environment through identity verification and fraud risk assessment while preventing chargebacks through order validation and alerting services. Latin America has one of the highest fraud rates globally, with studies showing that merchants are losing upward of 4.6%

Visa 94

Visa Fraud Prevention Risk Assessment Payments 94

The Payments Association

OCTOBER 22, 2024

It represents a major regulatory shift, requiring firms to enhance governance, fair value assessments, and customer support, with significant compliance challenges. According to the FCA, every firm is expected to assess the risks their products and services carry to consumers and act accordingly to prevent potential harm.

Consumer 88

Consumer Assessments Compliance Payments 88

Fintech News

NOVEMBER 27, 2024

This collaboration integrates Elliptic’s blockchain analytics into Sumsub’s platform, providing clients with enhanced tools to screen cryptocurrency wallets, identify fraudulent activity, and assess risk in transactions. The need for such solutions is critical as blockchain-related crime continues to rise.

Crime 93

Crime Financial Crimes Travel Rule Blockchain 93

VISTA InfoSec

OCTOBER 21, 2024

As businesses continue to evolve in their customer service strategies, Contact Center as a Service (CCaaS) solutions have emerged as an effective tool for enhancing customer experience. Change Management: Develop a change management strategy to address any resistance or concerns from your team.

Cybersecurity 130

Cybersecurity CRM Disaster Recovery Encryption 130

Fintech News

OCTOBER 27, 2024

The framework specifically addresses phishing scams with a clear connection to Singapore, targeting scams where perpetrators impersonate local or international entities serving Singapore residents. Compliance will be assessed based on telcos’ ability to block SMS messages containing URLs flagged by the police as malicious.

Phishing 108

Phishing Scams Blocks Authorization 108

Fintech News

JANUARY 21, 2024

After comprehensively assessing available solutions, PalmPay found its answer in OceanBase. The decision to partner with OceanBase was not just about addressing the challenges of rapid business growth; it was also about optimising cost-efficiency. ” The numbers tell a compelling story. ” The numbers tell a compelling story.

Database 103

Database Disaster Recovery Addressing Volume 103

Nanonets

DECEMBER 13, 2023

When errors occur, the system can adapt and improve over time through continuous learning, ultimately enhancing the accuracy of future data extractions. Real-time reporting enables insurers to address compliance concerns promptly, minimizing the impact on operations.

AI 102

AI Process Fraud Detection Compliance 102

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 Due Diligence 88

The Payments Association

DECEMBER 9, 2024

Firms must adopt transparent AI practices, enhance regulatory frameworks, and continuously train models to navigate the evolving landscape of AI-driven threats. Generative AI also addresses training challenges for AI models. What’s next? not only enhances security but also ensures that privacy concerns are properly managed.

Privacy 88

Privacy AI Payment Security Security 88

Fintech News

MAY 20, 2024

These virtual events became vital for maintaining business continuity, serving as a means for internal meetings and connecting with clients and audiences. Post-COVID-19, webinars continue to thrive, owing to their versatility, accessibility, affordability and effectiveness in engaging and educating audiences in an increasingly digital world.

FinTech 122

FinTech Embedded Finance BNPL AI 122

The Fintech Times

JULY 31, 2024

As natural catastrophes, including wildfires and convective storms, become more frequent and severe, insurers are looking for new ways to accurately predict and proactively address the growing threat of climate risk. Recognising this, ZestyAI provides property-specific data to help insurers determine the true risk for each property.

Risk 58

Risk AI Risk Assessment Assessments 58

The Payments Association

DECEMBER 10, 2024

It highlights the urgent need for payments firms to address AI-driven fraud to protect financial security, maintain customer trust, and comply with regulations. This allows them to automate attacks and continuously adapt their tactics in real time, staying one step ahead of static security protocols. Why is it important?

AI 88

AI Fraud Detection Deepfake Fraud Prevention 88

Fintech Finance

SEPTEMBER 18, 2024

By empowering B2B businesses with the option to accept payment via terms, Slope is preserving their customers’ working capital while allowing those businesses to continue best serving their end customers. Morgan, bringing its total funding to $252m.

B2B 91

B2B Reconciliation Payments Risk Assessment 91

Neopay

MARCH 5, 2024

The Financial Action Task Force (FATF) convened its February plenary from 21 to 23 February 2024, addressing crucial issues concerning money laundering, terrorism financing, and proliferation financing. As regulatory environments continue to evolve, Neopay is positioned to provide tailored solutions to businesses.

AML 52

AML Risk Assessment Money Laundering Assessments 52

VISTA InfoSec

FEBRUARY 16, 2024

addressed common coding vulnerabilities in software-development processes. - The primary objective is to address common software vulnerabilities throughout the development process. focused on addressing new threats and vulnerabilities. - This ensures a clear documentation trail of security practices. PCI DSS v3.2.1 PCI DSS v4.0

PCI DSS 100

PCI DSS Procedures Best Practices Verification 100

VISTA InfoSec

SEPTEMBER 15, 2023

For addressing a medical emergency posing a threat to the life of the Data Principal or another individual. Appoint a data auditor to assess compliance with the Act. Conduct Data Protection Impact Assessments (DPIA) and periodic audits as per rules. For data processed for any function under any law or judgment issued under law.

Data Breach 130

Data Breach Breach Governance Government 130

Neopay

OCTOBER 15, 2024

Here’s a guide to address these areas and offer practical solutions to make training and auditing more effective, engaging, and impactful. Moving beyond ‘box-ticking’ assessments While assessments are an essential part of training, they should not become a formality.

Audit 59

Audit Compliance Assessments Financial Crimes 59