VISTA InfoSec

OCTOBER 20, 2023

Regulatory Compliance : Meets requirements like HIPAA that mandate disaster recovery plans. Financial Stability : Mitigates the financial impact of disasters, including costs from data breaches or loss of revenue. Addressable policies can be managed within or outside the DRP.

Disaster Recovery 130

Disaster Recovery Regulatory Compliance Procedures Duplicate 130

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 4, 2024

Therefore, prioritising compliance, risk management, and ethical conduct is essential to mitigate the risk of regulatory scrutiny.

Compliance 52

Compliance Mitigation Risk Mitigation Regulatory Compliance 52

Seon

JUNE 20, 2024

As industry players brace for implementing these regulations, the focus remains on balancing regulatory compliance with operational efficiency. With this maturation comes new challenges, particularly in regulatory compliance and licensing across various markets.

Fraud Prevention 52

Fraud Prevention Regulatory Compliance AML Instant Payments 52

FICO

FEBRUARY 15, 2021

Deciding to use FICO Siron solutions to mitigate risk coming from bribery and corruption. New Regulatory Requirements. Working with FICO and its partner Printec , Eurobank took this opportunity to establish more comprehensive KYC and AML processes as well as mitigate risks related with correspondent banking.

Money Laundering 52

Money Laundering Regulatory Compliance Correspondent Bank AML 52

Fintech News

APRIL 28, 2024

By leveraging, advanced technologies such as cloud computing, AI/ML, biometric authentication, anomaly detection algorithms, and real-time monitoring systems, banks can enhance their fraud detection capabilities, identify suspicious patterns, and mitigate risks more effectively.

AI 99

AI Innovation Financial Crimes Crime 99

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

Fintech News

FEBRUARY 21, 2024

This alignment of powers across various financial regulations underscores MAS’s strategic approach to navigating the intricacies of modern financial crimes, ensuring that the regulatory framework is equipped to address challenges posed by technological advancements and global financial operations.

Financial Crimes 99

Financial Crimes Crime Authorization Consulting 99

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

Fintech News

JULY 24, 2024

Addressing these factors requires a holistic approach encompassing technology, processes, and people to construct resilient financial infrastructures. This involves technological considerations, business alignment, and regulatory compliance.

Finance 108

Finance Risk Mitigation Automation AI 108

Neopay

AUGUST 5, 2024

This involves identifying and mitigating risks associated with safeguarding and understanding potential threats and vulnerabilities to client assets and data. Furthermore, procedures for reporting safeguarding issues and understanding the legal and regulatory implications of non-compliance should be part of the training.

Compliance 52

Compliance Procedures Audit Risk Management 52

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

PYMNTS

SEPTEMBER 29, 2020

Jumio said it plans to integrate Beam’s AML screening and transaction monitoring services into its KYX platform to help flag financial crime and streamline regulatory compliance. The announcement comes on the heels of Jumio’s Sept. The financial terms of Jumio ’s acquisition of Beam’s AML platform were not disclosed.

Financial Crimes 61

Financial Crimes AML Crime Money Laundering 61

Fintech Finance

AUGUST 2, 2024

ComplyTek introduces an advanced transaction screening solution for instant payments , designed to ensure compliance and mitigate fraud within the critical 10-second processing window. Regulatory Compliance : Ensures ongoing compliance with global standards and simplifies regulatory reporting with automated report generation.

Instant Payments 94

Instant Payments Transactions Payment APIs and Integration Compliance 94

The Fintech Times

JULY 31, 2024

The evolving nature of fintech regulations requires platforms to be agile, constantly updating their compliance strategies to align with new laws and guidelines. Balancing regulatory compliance with innovation is critical to maintaining the trust of users and regulators alike.” appeared first on The Fintech Times.

Compliance 64

Compliance AML Regulations Due Diligence 64

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

Nanonets

DECEMBER 13, 2023

#1: Increased Accuracy and Reduced Errors AI in insurance claims processing plays a pivotal role in enhancing accuracy and reducing errors by automating various tasks and mitigating the risks associated with manual processes. Real-time reporting enables insurers to address compliance concerns promptly, minimizing the impact on operations.

AI 102

AI Process Fraud Detection Compliance 102

Nanonets

FEBRUARY 12, 2024

Bias Mitigation One of the longstanding challenges in credit scoring has been the inadvertent perpetuation of biases, often rooted in historical data. As we embrace the advantages of automation, addressing transparency concerns becomes paramount, ensuring that borrowers understand the factors influencing their loan outcomes.

AI 52

AI Fraud Detection Regulatory Compliance Automation 52

Clearly Payments

JANUARY 4, 2024

Regulatory Compliance: The regulatory environment for cryptocurrencies varies across jurisdictions. Stablecoins represent a crucial innovation within the cryptocurrency space, designed to address the inherent volatility associated with traditional cryptocurrencies like Bitcoin and Ethereum. What are Stablecoins?

Cryptocurrency 105

Cryptocurrency Stablecoins Cross-Border Payments Digital Currency 105

Fintech News

JANUARY 16, 2024

Banks must proactively plan and adapt to mitigate these risks effectively. 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.

AI 104

AI Risk Non-Bank On-Demand 104

Nanonets

MAY 31, 2023

All of these can reduce a business’s competitive edge, from delays in decision-making to poor strategic planning, even leading to difficulties in maintaining financial integrity, which increases the likelihood of fraud or regulatory action. AI can help mitigate these issues.

AI 122

AI Finance Fraud Detection Mitigation 122

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

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

PYMNTS

JULY 3, 2019

Their collaboration aims to address procure-to-pay regulatory compliance and fraud risks, the firms said. The Streamline for Invoices solution is an automated invoice processing tool with integrated artificial intelligence algorithms, developed by ITESOFT to mitigate the risk of fraud.

Regulatory Compliance 46

Regulatory Compliance Automation Mitigation B2B 46

Nanonets

SEPTEMBER 22, 2023

Effective  vendor management  contributes to cost optimization,  risk mitigation , and quality assurance. In  clinical research ,  vendor management  involves stringent  regulatory requirements , including ICH E6 Good Clinical Practice, ISO 14155, FDA 21 CFR Part 50, and Regulation (EU) No 536/2014.

Risk Mitigation 40

Risk Mitigation Mitigation Risk Assessment Assessments 40

PYMNTS

SEPTEMBER 8, 2020

The result is a slew of unstructured data coming in from a variety of sources; financial service providers must try to make sense of it in order to maintain regulatory compliance and mitigate the risk of fraud. It's surprising to me that something like corporate standing is not part of compliance.". On Tuesday (Sept.

FinTech 79

FinTech Compliance On-Demand Mitigation 79

Neopay

FEBRUARY 12, 2024

Neopay’s Integrated Managed Service sets itself apart through a unique integration of leading FinTech expertise, offering a comprehensive solution that combines modules for risk management, compliance, customer service, financial reporting, and open banking.

FinTech 52

FinTech Compliance Reconciliation Risk Management 52

Nanonets

APRIL 1, 2024

Proper management involves regular reconciliation , communication with payees, and adherence to best practices to mitigate risks. Through these reconciliation processes, businesses can uphold financial transparency, mitigate risks, and maintain credibility in their financial operations. What is Bank Reconciliation?

Reconciliation 52

Reconciliation Checks Automation Process 52

Nanonets

APRIL 15, 2024

Demonstrates commitment to financial integrity and regulatory compliance : Regular and accurate bank reconciliation reflects a company's dedication to maintaining high standards of financial transparency and compliance with regulatory requirements.

Reconciliation 52

Reconciliation Adjustments Correspondent Checks 52

Nanonets

APRIL 3, 2024

By promptly addressing discrepancies and resolving payment issues, businesses demonstrate reliability and professionalism. Regulatory Compliance Burdens: Navigating tax regulations, accounting standards, and industry-specific rules adds complexity to the reconciliation process. Why Automate Vendor Reconciliation?

Reconciliation 52

Reconciliation Process Accounts Duplicate 52

PYMNTS

JULY 17, 2019

Financial institutions are in a constant balancing act: open up access to capital for borrowers to promote economic growth and financial inclusion and mitigate against the risk exposure lending produces — sometimes with disastrous implications for the global economy.

Risk 52

Risk Compliance Risk Mitigation Mitigation 52

PYMNTS

MARCH 27, 2019

Dries Verboven, market manager of regulatory reporting at Wolters Kluwer Finance, Risk & Reporting, says it’s all about data, which is both the key to regulatory compliance, and to a more efficient and profitable operation for the entire institution. The Key To Compliance Is Data. From Burden To Opportunity.

Compliance 46

Compliance Regulatory Compliance Regulations Risk Mitigation 46

Nanonets

MAY 7, 2024

Overall, expense reconciliation is critical to ensuring financial accuracy, regulatory compliance, fraud prevention, efficient budget management, and informed decision-making. By prioritising expense reconciliation, businesses can maintain financial integrity and achieve their long-term financial goals.

Reconciliation 52

Reconciliation Best Practices Compliance Credit Cards 52

PYMNTS

MAY 29, 2019

.” It’s a challenge that has weighed particularly heavy on banks’ ability to address the global trade finance gap, according to the International Chamber of Commerce (ICC).

Regulations 43

Regulations Finance Correspondent Bank Correspondent 43

FICO

SEPTEMBER 16, 2020

In fact, 20 percent of respondents picked this as their principal obstacle in meeting financial crime risk mitigation targets. We can see that addressing the competing needs of regulatory compliance and customer experience remains a balancing act for most institutions.

Money Laundering 52

Money Laundering Financial Crimes AI APACS 52

FloQast

MAY 13, 2024

Regulatory Compliance Shifting regulatory standards have always shaped the accounting industry, and that trend will continue into the foreseeable future. New legislation, IRS guidance, and auditing standards will address blockchain technology, artificial intelligence, data privacy, cybersecurity, and other emerging issues.

Accounts 52

Accounts Technology Cybersecurity Audit 52

The Fintech Times

DECEMBER 7, 2023

We cannot start an AI project or investment if it’s not clearly positively impacting the top line and or bottom line, as well as risk reduction and regulatory compliance. “Some of the KPIs we can think about in terms of automation is: what is the cost optimisation? Am I decommissioning some applications?

FinTech 59

FinTech AI CBDC Risk 59