Fintech News

FEBRUARY 21, 2024

To mitigate these quantum-related cybersecurity risks, MAS advises financial institutions to develop crypto-agility—the ability to transition from vulnerable cryptographic algorithms to PQC efficiently without significantly impacting their IT systems and infrastructure.

Third Party Vendors 88

Third Party Vendors Cybersecurity Mitigation Encryption 88

FICO

DECEMBER 8, 2022

Addressing Portfolio Risk in Economic Uncertainty: Part 3 (2022). Building portfolio risk resilience into customer management. We all purchase insurance policies for one fundamental reason – to protect and manage our valuable assets against unexpected events. Saxon Shirley. Thu, 05/12/2022 - 07:46.

Addressing 52

Addressing Risk Credit Limit Risk Management 52

VISTA InfoSec

OCTOBER 25, 2023

Welcome to our comprehensive guide on ‘Conducting an ISO 27001 Risk Assessment’. This blog is designed to equip you with effective strategies for a successful risk assessment, incorporating the principles of ISO 31000 risk management. 5 Crucial Steps to Conduct an Effective ISO 27001 Risk Assessment 1.Establish

Risk Assessment 130

Risk Assessment ISOs Assessments Risk 130

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 86

FinTech Mitigation Risk On-Demand 86

PYMNTS

SEPTEMBER 3, 2020

Analysts Eye AR Automation To Mitigate Risk. In a recent press release , the consulting firm noted the value in enhancing AR strategies to mitigate the risk of a volatile market and to support consistent cash flow. Addressing these pain points can mean improving the experience for all participants in B2B trade.

Mitigation 78

Mitigation B2B Automation Consulting 78

Finovate

FEBRUARY 1, 2024

The OCC said the California-based bank “engaged in unsafe or unsound practices,” stating that it failed to establish effective risk management and internal controls. Strengthen third-party risk management In the era of banking-as-a-service (BaaS), multiple aspects of banking leverage third parties, and for good reason.

OCC 59

OCC Office of the Comptroller of the Currency Risk Management Compliance 59

Fintech Review

JUNE 12, 2024

IoT devices, such as smart home sensors and connected cars, provide real-time data that insurers can use for risk assessment and mitigation. Real-Time Monitoring and Prevention IoT devices enable real-time monitoring of insured assets, allowing for proactive risk management.

Risk Assessment 96

Risk Assessment Regulatory Compliance Assessments Risk Management 96

Global Fintech & Digital Assets

DECEMBER 21, 2023

The OCC outlines safety and soundness principles and appropriate risk management processes for its regulated institutions that engage in BNPL lending. The OCC expects that banks engaged in BNPL lending “do so within a risk management system that is commensurate with associated risks.” By Arthur S.

OCC 59

OCC BNPL Electronic Fund Transfer Act (EFTA) Federal Trade Commission 59

VISTA InfoSec

APRIL 28, 2024

offers essential guidelines and a framework to safeguard cardholders’ data and mitigate any potential data breaches that may occur in banks. Creating and maintaining a policy that addresses information security for all personnel. The Payment Card Industry Data Security Standard (PCI DSS) compliance 4.0

PCI DSS 130

PCI DSS Compliance Assessments Data Breach 130

PYMNTS

JANUARY 13, 2020

INTL FCStone , a risk management and advisory service provider for players in the financial industry, announced a new acquisition to strengthen its small business foreign exchange and hedging offering. The company said in a press release Monday (Jan.

Mitigation 52

Mitigation Risk Correspondent Bank Correspondent 52

Fintech News

FEBRUARY 19, 2024

The firm’s AI-driven software offers a sophisticated tool for detecting financial discrepancies and potential fraud in corporate balance sheets by assigning a risk score ranging from 0 to 100. Margaret King “The changing face of fraud risk in an evolving digital landscape means that businesses have to be more vigilant now than ever.

Financial Crimes 86

Financial Crimes AI Crime Risk 86

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

PYMNTS

SEPTEMBER 29, 2017

Managing Risk. One of the most crucial areas for banks’ treasuries is risk mitigation , which, according to Beaulande, has become more complex as it relates to other areas of treasury management. Beaulande added that advanced analytics technology is now a must-have for banks to adequately manage these risks.

Treasury 56

Treasury Addressing Treasury Management FinTech 56

Neopay

AUGUST 5, 2024

Understanding risk management is also a crucial part of the training. This involves identifying and mitigating risks associated with safeguarding and understanding potential threats and vulnerabilities to client assets and data. The post Enhancing compliance through safeguarding training appeared first on Neopay.

Compliance 52

Compliance Procedures Audit Risk Management 52

Clearly Payments

JANUARY 8, 2024

While these technologies bring unparalleled convenience and global reach, they also introduce a plethora of risks that can impact the financial stability and reputation of businesses. Identifying and Assessing Risks Understanding the lay of the land is the first step in effective risk management.

Risk Management 97

Risk Management Risk PCI DSS Process 97

Fintech Finance

MARCH 22, 2024

Cashfree Payments , India’s leading payments and API banking company, announced the launch of ‘RiskShield’, India’s first real-time risk management solution for payment gateways. Additionally, to build risk solutions, businesses would require specific certifications like PCI DSS certificate etc.

PCI DSS 52

PCI DSS Payment APIs and Integration Risk Management Payments 52

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

The Fintech Times

FEBRUARY 24, 2024

It also lays down stringent requirements to ensure consistent security practices throughout the European Union, covering key areas such as ICT risk management, incident management and reporting, operational resilience testing, third-party risk management, and information sharing.

Compliance 69

Compliance Finance Risk Management Risk 69

Clearly Payments

FEBRUARY 3, 2024

For merchants, integrating Buy Now, Pay Later (BNPL) into their payment processing systems offers a unique avenue to drive sales, entice new customers, and mitigate certain risks. Provide responsive customer support to address inquiries promptly and nurture positive brand relationships.

BNPL 104

BNPL Payments Mitigation Best Practices 104

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 89

AI Innovation Financial Crimes Crime 89

PYMNTS

DECEMBER 5, 2018

Risk mitigation isn’t a new concept, Simkins noted, but today’s organizations are often unfamiliar with the correct strategies they need to deploy when mitigating third-party cyber risk. “They manage credit risk and liquidity risk, and more traditional third-party risk verticals,” he said.

Risk Mitigation 76

Risk Mitigation Security Data Breach FinTech 76

Fintech News

MAY 20, 2024

The webinar will address the underutilization of transactional data by banks and its potential to drive customer engagement, increase customer lifetime value, and enhance business impact. The webinar aims to delve into the significant influence of AI on the financial sector, particularly in risk management.

FinTech 118

FinTech Embedded Finance BNPL AI 118

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 98

Finance Risk Mitigation Automation AI 98

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

Segpay

OCTOBER 4, 2023

Risk Management Fraud detection and prevention measures are crucial in this type of high-risk business. A robust risk management system helps to protect both merchants and affiliates from fraudulent activities, such as click fraud or affiliate fraud.

Security 52

Security Due Diligence Compliance Payments 52

Fintech News

JANUARY 16, 2024

Generative AI offers many applications in banking, from enhancing due diligence and risk management to streamlining legal contract generation and code writing. Banks must proactively plan and adapt to mitigate these risks effectively.

AI 94

AI Risk Non-Bank On-Demand 94

Nanonets

MAY 31, 2023

The need for AI in finance In traditional finance functions, companies often rely on manual processes, extensive paperwork, and repetitive tasks to manage their financial operations. These tasks include data entry, invoice processing, and financial analysis for decision-making, operational planning, and risk management.

AI 122

AI Finance Fraud Detection Mitigation 122

Fi911

JULY 8, 2024

Synthetic Fraud Synthetic fraud occurs when criminals create fictitious identities by combining real and fake information, such as using a real Social Security Number with a fake name and address. As we addressed before, acquirers have a vested interest in helping merchants with this challenge.

Account Takeovers 84

Account Takeovers Fraud Detection Phishing Fraud Prevention 84

PYMNTS

JANUARY 28, 2019

Its global survey, the 2018 global operations risk management survey, warned that corporate understanding of risks is not enough. If the enterprise fails to act to address and mitigate those risks, there may be “catastrophic implications on business operations.”

Risk 58

Risk Risk Management Mitigation Cybersecurity 58

Fintech News

FEBRUARY 20, 2024

Against this backdrop of growth and innovation, the Singapore Budget 2024 introduces strategic measures to propel the fintech sector forward, addressing fundamental challenges and capitalising on emerging opportunities. These initiatives address real issues and build a sustainable future rather than making grand promises.

FinTech 86

FinTech Cybersecurity AI Innovation 86

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

Fintech Finance

MAY 29, 2024

38% of businesses surveyed prioritise fast and easy transfers, highlighting the need for solutions that address both speed and reliability. AI Combats Evolving Fraud: The report emphasises the value of AI in mitigating fraud, particularly difficult-to-detect tactics. As a result, speed and convenience remain the top payment priorities.

RTP 52

RTP Real Time Payments Fraud Prevention B2C 52

PYMNTS

SEPTEMBER 15, 2020

Rising eCommerce volumes and an embrace of the direct-to-consumer (D2C) sales model has led merchants to shift their own payment strategies — and seek out banking providers that can address those changing needs. Diversifying Risk.

Service Provider 119

Service Provider Payments Risk Acquirers 119

Neopay

JUNE 27, 2024

Governance structure: Present a well-defined governance structure, highlighting key individuals responsible for regulatory compliance, risk management and oversight. 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

The Fintech Times

JANUARY 6, 2024

. “Firms will undergo a strategic shift toward a highly scalable, hybrid combination of on-premises infrastructure and cloud-based computing, driven by the need to mitigate concentration risk and maintain agility in the face of rapid technological advancements. ” Is fintech’s AI bubble going to ‘pop’?

AI 141

AI FinTech Financial Literacy Risk Management 141

Exact Payments

FEBRUARY 5, 2024

From the moment you express interest in an integrated payment provider, their sales team should exhibit responsiveness and profound knowledge, addressing your queries and concerns. Risk Management: A Balancing Act In the realm of payment processing, risk is an ever-present factor.

Payment APIs and Integration 52

Payment APIs and Integration Process Payments Risk Management 52

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. Leveraging machine learning and AI, the platform offers comprehensive monitoring and fraud detection capabilities.

Instant Payments 64

Instant Payments Transactions Payment APIs and Integration Compliance 64