Neopay

MARCH 4, 2024

Neopay’s suite of services encompasses regulatory compliance, risk assessment, training, and ongoing support, enabling firms to stay abreast of evolving regulatory landscape and proactively address compliance challenges.

Compliance 52

Compliance Mitigation Risk Mitigation Regulatory Compliance 52

Fintech News

JULY 24, 2024

Additionally, human error remains a significant risk factor; as systems become more complex, the potential for misconfigurations or operational mistakes increases. Addressing these factors requires a holistic approach encompassing technology, processes, and people to construct resilient financial infrastructures.

Finance 108

Finance Risk Mitigation Automation AI 108

Stax

JANUARY 8, 2024

This includes their name, date of birth, address, identity documents, etc. A sound and unambiguous risk management policy provides an effective starting point for all the subsequent actions at the managerial and operational levels. FAQs About Risk Management Q: What is risk management?

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

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. You need to carefully assess and continuously monitor this risk factor.

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. To demonstrate financial adequacy, firms should consider the following: Capital Planning: Develop a robust capital planning strategy that takes into account potential risks and contingencies.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

Fintech News

JUNE 5, 2024

In the IEOM award-winning paper titled “Reimagining the Management of Outsourcing Life Cycles in the Fintech Era for Financial Services,” Dr Thng, together with SMU Doctor of Engineering candidate, Tristan Lim, introduced a novel outsourcing life cycle management model tailored to address the unique nuances of financial services more effectively.

FinTech 96

FinTech Mitigation Risk On-Demand 96

Nanonets

APRIL 24, 2024

The auditor assesses risks, identifies key areas for review, and develops an audit plan tailored to the organization's specific needs. They assess the adequacy and accuracy of documentation to support the integrity of financial records.

Reconciliation 52

Reconciliation Audit Procedures Correspondent 52

The Finance Weekly

OCTOBER 15, 2023

CFO Uncertainties Using AI in financial operations comes with certain risks, which include: Data Security and Privacy: , Protect financial data through strong security measures to maintain trust and comply with regulations. Algorithmic Bias: Mitigate biases in AI algorithms to ensure fair decision-making in financial processes.

AI 52

AI Risk Automation Data Security 52

PYMNTS

JULY 24, 2020

So it’s not exactly surprising that supply chain risk mitigation efforts can fall by the wayside. Yet this use of external products and services further expands the so-called “attack surface” that exposes a company to an array of risks. ”

Risk 70

Risk Due Diligence Risk Mitigation Mitigation 70

The Finance Weekly

AUGUST 26, 2023

Both industry and government regulatory bodies, along with investors, are intensively examining the risk management strategies and protocols of enterprises. Across various sectors, boards of directors are increasingly mandated to assess and disclose the effectiveness of risk management processes within their respective organizations.

Risk Management 52

Risk Management Risk AI Liquidity Risk 52

Nanonets

MAY 31, 2023

This empowers finance professionals to make informed decisions about budgeting, cash flow management, investment opportunities, and risk mitigation. Organizations need to assess the financial feasibility and scalability of AI implementations, evaluating the costs and ensuring the benefits outweigh them.

AI 122

AI Finance Fraud Detection Mitigation 122

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

Nanonets

JULY 25, 2023

The goal of financial analysis is twofold: to make internal assessments for managerial decision-making and to make external assessments to determine the firm's value or context. Ratio Analysis: Ratio analysis involves calculating and interpreting various financial ratios to assess a company's financial health and performance.

Financial Analysis 52

Financial Analysis Payment APIs and Integration Assessments Automation 52

Fi911

AUGUST 31, 2023

Key information includes: Finance Charges: The complete cost of the loan, including interest and other charges assessed over the term of repayment. The Truth in Lending Act was intended to address the lack of transparency and standardization in disclosing consumer credit terms and costs. Section B: Addresses open-ended credit products.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) Risk Mitigation Non-Bank Online and Mobile Banking 52

Nanonets

AUGUST 16, 2024

Artificial Intelligence (AI) AI is particularly brilliant at handling complex tasks like fraud detection, risk assessment, and claims adjudication. Advanced AI systems can cross-check claim details against policy data, third-party databases, and historical claim records to detect anomalies and assess the validity of claims.

Automation 52

Automation Process Fraud Detection Payment APIs and Integration 52

FICO

FEBRUARY 7, 2017

Cyber-readiness is increasingly a necessity for organizations, but for insurance underwriters, evaluating an organization’s cybersecurity risk and setting the appropriate insurance premium continues to be an inexact science.

Cybersecurity 51

Cybersecurity Risk Mitigation Mitigation Underwriting 51

FICO

FEBRUARY 20, 2017

Cyber-readiness is increasingly a necessity for organizations, but for insurance underwriters, evaluating an organization’s cybersecurity risk and setting the appropriate insurance premium continues to be an inexact science. The post Two Advantages to Measuring Your Cybersecurity Posture appeared first on FICO.

Cybersecurity 40

Cybersecurity Risk Mitigation Mitigation Assessments 40

PYMNTS

JANUARY 25, 2019

Equipment finance company CapX Partners has announced an integration of Moody’s Analytics technology to strengthen its underwriting and risk mitigation capabilities. CapX noted that Moody’s Analytics’ tool addresses the pain point of lack of access to historical data on small businesses seeking financing. .”

Underwriting 43

Underwriting Small Business Risk Mitigation Underserved 43

Segpay

OCTOBER 4, 2023

They understand the unique compliance risks associated with this industry and can provide guidance and solutions tailored to address them. Enhanced Due Diligence: High-risk PSPs often conduct thorough due diligence on their clients and affiliates instead of leaving this up to the merchants.

Security 52

Security Due Diligence Compliance Payments 52

FICO

MAY 22, 2017

While a few have been critical that it was not bold enough, most reviewers seem to be endorsing the main message, both for what it does (initiating broad self-assessments by agencies), and for what it does not do (consolidate all accountability in the DoD). This, of course, requires an assessment of risk.

Cybersecurity 45

Cybersecurity Risk Assessment Assessments Risk 45

PYMNTS

OCTOBER 7, 2016

.” Financial institutions today are also struggling to connect the dots between all of the ways they use data analytics to mitigate risk and add value to their lending operations, added Horrocks. He offered the example of banks using analysis of financial statements to assess risk in the loan origination process.

Origination 78

Origination Underwriting Third-Party Service Provider Risk Mitigation 78

PYMNTS

APRIL 27, 2016

But while companies explore new ways to handle this aspect of treasury, there are some mistakes treasurers make that allow FX risks to remain unseen. One of the largest sources of blind spots in the treasury department when it comes to FX risk mitigation is the use of multiple systems. Where Treasurers Go Wrong.

Risk 40

Risk Risk Mitigation Mitigation Cross-Border 40

PYMNTS

JUNE 17, 2020

Gianluca Pizzituti , CEO and co-founder of invoice financing platform Velotrade , told PYMNTS about the risks financiers must mitigate in the trade finance arena, the role of data in mitigating those threats, and the evolving role of invoice finance to help B2B companies endure the most volatile market many have seen in years.

Finance 68

Finance Mitigation B2B Underwriting 68

PYMNTS

SEPTEMBER 8, 2020

Also, key to addressing these pain points are risk mitigation efforts like stringent credit controls and Know Your Customer assessments, which can ensure that the credit that is extended to customers is done so responsibly.

B2B 86

B2B Payments Commercial Card Mitigation 86

Nanonets

SEPTEMBER 23, 2023

Address their pain points and demonstrate how your solution can solve their challenges. Focus on how it can address the client's needs and deliver value to their business. Additionally, organizations can include evaluation criteria in the RFP to assess the suitability of each proposal.

Gateways 52

Gateways RFP Value Added Service Compliance 52

PYMNTS

JANUARY 27, 2020

As a platform designed to assess and display an SMB borrower’s most appropriate financing options, from cards to loans, Nav positions itself as a facilitator of transparency for SMBs. But addressing SMB lending friction isn’t just about connecting borrowers and lenders at the moment an SMB needs capital, he said.

Small Business 62

Small Business Point-of-Sale (POS) Finance Facilitators 62

PYMNTS

JULY 3, 2018

But SMB loan underwriting at traditional FIs has, for the most part, remained unchanged, even as alternative lenders began exploring the role of alternative data in the risk mitigation process. “Lenders’ primary goal is to assess a consumer’s stability, ability and willingness to pay. ”

Underwriting 40

Underwriting Small Business Assessments Third-Party Service Provider 40

Nanonets

DECEMBER 10, 2023

This reduces non-compliance risk, mitigates legal complications, and ensures that shipments move seamlessly across borders, contributing to a smoother global logistics operation. However, there is a discernible shift towards digitizing these documents to address inherent inefficiencies associated with paper-based communication.

Automation 52

Automation Compliance SWIFT Process 52

Nanonets

JULY 11, 2023

Effective purchases controls ensure compliance with regulations, mitigate risks and promote operational efficiency. To ensure the effectiveness of purchases controls, organizations must document and assess their control mechanisms through a comprehensive test of control.

Procedures 40

Procedures Audit Mitigation Assessments 40

PYMNTS

MAY 10, 2018

Simultaneously, the report noted, a spike in bad corporate loans is also signaling to FIs that they need to improve their digital offerings with cost savings benefits, risk mitigation and other advantages that can strengthen their financial standings. ” Banks Need to Multitask.

SWIFT 40

SWIFT Risk Mitigation Mitigation On-Demand 40

The Fintech Times

DECEMBER 9, 2023

The integration of data, AI, and scalable technologies will be explored to optimise risk and opportunity, challenging the traditional paradigm where risk mitigation often takes precedence. The shift mandates a focus on the end results of actions within the financial sector, not merely assessing and addressing the risks involved.

Consumer 111

Consumer Financial Literacy Regulations AI 111

PYMNTS

JUNE 7, 2018

The assessment went further: According to Benson, a deeper look at that list of 43,000 revealed duplicates – misspellings, or multiple names for the same supplier. There is a clear, significant impact on companies’ bottom lines when they address issues of supplier data quality, he continued. ”

Duplicate 57

Duplicate Legal Mitigation Risk Mitigation 57

PYMNTS

JULY 31, 2018

Exacerbating these challenges for small businesses is that a significant portion of entrepreneurs fail to adequately assess their current FX arrangements. Only 23 percent of SMBs surveyed by BFS looked at their current agreements to see if they could proactively address future FX volatility. “No

Cross-Border Payments 40

Cross-Border Payments Cross-Border Small Business Risk Mitigation 40

FICO

FEBRUARY 14, 2017

We have seen some improvement in the false positive rate through the use of the risk-based approach (RBA), which banks have been implementing to comply with international regulations (such as the 4 th EU ML directive, BSA 4 pillars, and FATF 2012). customers are automatically categorized into a risk bucket.

AML 40

AML Compliance AI Money Laundering 40

PYMNTS

NOVEMBER 15, 2016

But for lenders in this space, the B2B payments behaviors of these firms can make risk mitigation and creditworthiness assessments particularly challenging — especially today. FastPay’s latest venture, FastPay for Enterprise, is a way for the lender to address larger digital media firms, Baysal explained.

Cash Management 65

Cash Management Risk Mitigation B2B Disputes 65

PYMNTS

NOVEMBER 10, 2017

The company uses an array of data sources, including bill payment records and social media, to assess borrowers’ creditworthiness. Its risk mitigation technology is also licensed to banks and telecoms, reports explained. WeLab says it has so far facilitated $28 billion in loans.

Finance 40

Finance B2B Online and Mobile Banking Small Business 40

PYMNTS

APRIL 20, 2018

A survey released earlier this year found that CPOs are most concerned about cost reduction in 2018, though most agree that new products and market development, as well as risk mitigation, are also critical focuses. This can lead to challenges in strategic decision-making or misalignment among stakeholders, Dubey said.

AI 41

AI Risk Mitigation Near Real-Time Compliance 41