Neopay

SEPTEMBER 2, 2024

As regulatory compliance continues to become more complex, having a robust monitoring plan in place is more important than ever. In today’s regulatory environment, compliance is not just about ticking boxes; it’s about ensuring your business operates within the law and meets all necessary standards.

Compliance 59

Compliance Regulatory Compliance Money Laundering Assessments 59

Neopay

DECEMBER 6, 2023

The Financial Conduct Authority (FCA) employs skilled person reviews, also known as Section 166 reviews, to assess and rectify concerns within financial institutions. In this guide, we discuss the dynamics of skilled person reviews, providing insights into effectively navigating this intricate regulatory landscape.

Audit 59

Audit Regulatory Compliance Financial Crimes Compliance 59

The Fintech Times

APRIL 8, 2024

While BaaS solutions offer a lot of potential, many have concerns regarding the regulatory compliance of providers and the third parties that use them. To find out more about the regulatory hurdles the BaaS space possesses, we reached out to industry leaders and asked them which regulatory challenges fintechs should be most aware of.

FinTech 116

FinTech Regulatory Compliance BSA Money Laundering 116

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. Artificial Intelligence (AI) can also be utilized to ensure compliance and responsible handling of biometric data.

Privacy 130

Privacy Compliance Legal Best Practices 130

Neopay

MARCH 7, 2024

In a recent move, the Financial Conduct Authority (FCA) has taken a significant step in addressing the prevalent anti-money laundering (AML) shortcomings among Annex 1 firms. It is imperative for these firms to promptly address any identified shortcomings to align with regulatory expectations. These must be addressed.”

AML 52

AML Financial Crimes Crime Risk Assessment 52

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. They provide a structured approach to evaluate and enhance the effectiveness of cybersecurity measures.

Cybersecurity 130

Cybersecurity Audit Best Practices Mitigation 130

Fintech News

APRIL 16, 2024

But in order to leverage the benefits of gen AI, risk and compliance functions must establish clear guidelines and frameworks that not only address inbound risks from gen AI but which also ensure the responsible usage of gen AI, a new paper by McKinsey says.

Risk Management 87

Risk Management AI Risk Use Case 87

Fintech News

MARCH 3, 2024

In her new role at FOMO Group , Cindy will be essential in advancing the company’s compliance infrastructure, ensuring adherence to the diverse regulatory landscapes of the jurisdictions in which the company operates. She has previously served as the Chief Control Officer at Bank J.

Compliance 86

Compliance AML Money Laundering Regulatory Compliance 86

Neopay

JUNE 27, 2024

Your senior team will all need to have understand the obligations on the firm and be able to prioritise regulatory compliance and its impact across the business. Additionally, firms should stay updated on regulatory changes and developments in the payments industry.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

The Fintech Times

MARCH 25, 2024

This movement isn’t simply about the adoption of cutting-edge technologies; it signifies a profound reimagining of financial services provision aimed at cultivating innovation, driving efficiencies and addressing the evolving needs of consumers.

Finance 115

Finance Regulatory Compliance Compliance On-Demand 115

Neopay

FEBRUARY 29, 2024

The focus was on assessing how additional engagement had impacted firms’ readiness for compliance. Enhanced compliance activities : Firms demonstrated increased engagement in key elements of the Duty, such as identifying target markets and appointing oversight personnel.

Consumer Protection 59

Consumer Protection Consumer Compliance Assessments 59

Finovate

JUNE 20, 2024

The rapid evolution of technology turned regulatory compliance into a daunting frontier. Misra , who sits at the forefront of this arena, is a pioneer in using LLMs to do the heavy lifting when it comes to compliance. Compliance platforms of the past are not able to cope with these new kind of reporting requirements.

Compliance 52

Compliance Regulatory Compliance Regulations AI 52

Neopay

AUGUST 5, 2024

Furthermore, procedures for reporting safeguarding issues and understanding the legal and regulatory implications of non-compliance should be part of the training. They should be equipped to challenge and assess new data, policies, or frameworks for compliance.

Compliance 52

Compliance Procedures Audit Risk Management 52

Nanonets

SEPTEMBER 18, 2024

In this article, you’ll learn how to set up efficient document workflows that save time and reduce error, ways to address common challenges, and automated tools for different use cases across industries. Even small errors can lead to significant financial discrepancies or compliance issues.

Automation 52

Automation Audit Payment APIs and Integration Compliance 52

Fintech Finance

AUGUST 2, 2024

By evaluating daily transactional data, it assigns personalized scores and ranks clients based on their behavior, helping financial institutions prioritize risks and identify emerging trends, thereby enhancing the accuracy of risk assessment.

Instant Payments 64

Instant Payments Transactions Payment APIs and Integration Compliance 64

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

Nanonets

DECEMBER 13, 2023

2: Proactive Regulatory Compliance AI plays a crucial role in ensuring regulatory compliance in insurance claims processing through the following: Automated Compliance Checks: AI algorithms can be programmed to conduct automated checks against regulatory requirements.

AI 102

AI Process Fraud Detection Compliance 102

FICO

FEBRUARY 15, 2021

Our roadmap for regulatory compliance with the FICO Siron solution meets existing regulatory requirements and will enable us to rapidly adapt to new regulations,” said Marina Skalistiri, head of compliance risk assessment planning and reporting at Eurobank Greece. This is a first-class result of our project.”combined

Money Laundering 52

Money Laundering Regulatory Compliance Correspondent Bank AML 52

Neopay

MARCH 4, 2024

How Neopay can help By partnering with Neopay, firms can access comprehensive compliance solutions tailored to their specific needs, helping them navigate regulatory requirements, mitigate risks, and uphold the highest standards of integrity and professionalism.

Compliance 52

Compliance Mitigation Risk Mitigation Regulatory Compliance 52

Fintech Finance

FEBRUARY 29, 2024

The joint solution allows merchants and fintechs to accelerate time-to-revenue while ensuring regulatory compliance. The partnership addresses key needs as more commerce moves online and fraudsters find new and sophisticated ways to exploit legacy identity verification and fraud prevention approaches.

Fraud Prevention 52

Fraud Prevention Process FinTech Online and Mobile Banking 52

Seon

SEPTEMBER 20, 2023

This is often achieved by entering their email address and chosen password. Upon acceptance of this information, the organization must request PII from the individual, usually one or more documents confirming their full name, address, and date of birth. Cross-check the PII with the person’s photo ID and/or other documentation.

Process 52

Process Due Diligence AML Verification 52

The Fintech Times

DECEMBER 28, 2023

Today our leaders address escalating challenges related to fraud and the need for businesses to take proactive measures to address these issues and maintain customer trust and regulatory compliance. In this pursuit, businesses like SEON can help companies to bolster their defences against sophisticated fraud schemes.

Fraud Prevention 81

Fraud Prevention Scams Fraud Detection Regulatory Compliance 81

Nanonets

MARCH 27, 2023

Credit Checks: Credit checks are an essential part of the mortgage application process as they help to assess the borrower's creditworthiness. Underwriting : Underwriting is the process of assessing the borrower's creditworthiness, evaluating the risks and ensuring that the loan meets the lender's criteria.

Automation 52

Automation Regulatory Compliance Underwriting Origination 52

Nanonets

APRIL 11, 2023

In this blog post, we will discuss the challenges faced by commercial lenders today, the pain points in the loan process, and how loan automation can address these issues to deliver significant benefits to all stakeholders. Manual compliance processes increase the risk of non-compliance and may result in costly fines or penalties.

Origination 52

Origination Automation Risk Assessment Underwriting 52

PYMNTS

APRIL 24, 2020

These circumstances have brought to the fore what has long been a central concern for lenders: assessing and managing credit risk. percent reported using AI for underwriting and risk assessment purposes. Among FIs interested in smart agent-based AI, 67 percent believe it would help address payments fraud, and 62.1

Credit Risk 100

Credit Risk Risk AI Underwriting 100

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 73

Central Bank AI Correspondent Bank Correspondent 73

Stax

FEBRUARY 5, 2024

Several types include credit card, fuel, service, payment processing, peak-time, environmental, regulatory, and minimum usage surcharges. Cost recovery, industry standards, regulatory compliance, and consumer sensitivity are key factors to consider when calculating surcharges. Regulatory Compliance.

Credit Cards 88

Credit Cards Legal On-Demand Regulatory Compliance 88

Fintech Finance

MAY 7, 2024

The research, which spanned across the period of September 2023 to January 2024, surveyed 600 decision-makers to assess the landscape of Embedded Finance and the critical factors influencing the choice of payment/Embedded Finance solutions providers. This research confirms the industry’s shift towards integrated financial services.

Embedded Finance 52

Embedded Finance Finance Payment APIs and Integration Embedded Payments 52

PYMNTS

APRIL 10, 2020

The study is part of the larger Unlocking AI series by PYMNTS, examining how AI and other computational systems are being used to manage critical business functions, including payments, regulatory compliance, risk assessment and fraud protection.

AI 144

AI Fraud Detection Regulatory Compliance Risk Assessment 144

PYMNTS

MAY 8, 2018

BitScore, built on the cloud, deploys artificial intelligence and machine learning to assess cryptocurrency flows and determine a risk score. Users submit a cryptocurrency source or destination address to the API, which then returns the risk score of the source of funds and the other parties with which that source transacts.

AML 40

AML Blockchain Money Laundering Regulatory Compliance 40

FICO

AUGUST 25, 2021

MYTH #1: We already use a credit bureau score to assess application risk. The leading pooled models are flexible, agile, streamlined, and can assess risk quickly without complex data gathering or costly development and deployment. The best solutions have 5M+ records assessed from a representative data sample. Is it doable?

Regulatory Compliance 52

Regulatory Compliance Assessments Compliance Origination 52

Fintech News

JULY 24, 2024

Addressing these factors requires a holistic approach encompassing technology, processes, and people to construct resilient financial infrastructures. Finally, the Evaluation stage ensures continuous assessment and improvement. This phase translates plans into tangible improvements in the bank’s infrastructure.

Finance 98

Finance Risk Mitigation Automation AI 98

The Finance Weekly

OCTOBER 15, 2023

Ethical AI Use: Understand and address ethical concerns related to AI algorithms, promoting fairness and transparency in financial processes. Regulatory Compliance: Stay compliant with financial regulations, monitoring and managing legal risks associated with AI implementation.

AI 52

AI Risk Automation Data Security 52

Fintech News

JANUARY 16, 2024

Banks must assess their readiness to address interest rate-related risks and potential economic challenges. Monitoring and addressing this risk are essential for stabilising banks, insurance companies, and pension funds. However, many of these regulations have not directly addressed the root causes of bank failures.

AI 94

AI Risk Non-Bank On-Demand 94

Segpay

DECEMBER 7, 2023

Appointing compliance officers Allowing external audits Providing access to data to researchers Enabling users to flag illegal or harmful content. More information about secure payment practices and their importance in maintaining regulatory compliance can be found here.

Compliance 52

Compliance Privacy Regulatory Compliance Data Security 52

Tearsheet

JULY 1, 2024

This reduces fraud risk and addresses data privacy concerns, which, again, helps to build trust between merchants and consumers. First and foremost, your security must exceed industry compliance standards. Start with a risk assessment. What are best practices when it comes to protecting consumer information?

BNPL 106

BNPL Online and Mobile Banking Encryption Payments 106

PYMNTS

MAY 2, 2019

A press release this week said Citi is collaborating with EY and SAS on its NextGen project, which will include the development of a risk analytics scoring engine that uses AI to address friction in reviewing global trade transactions.

Transactions 53

Transactions AI Cross-Border Risk Mitigation 53