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. Financial services companies are also ramping up investments in gen AI.

Risk Management 87

Risk Management AI Risk Use Case 87

Fintech Finance

JUNE 3, 2024

We’re extending our platform to address this problem, meeting the needs of global marketplaces so they can build more flexible, dynamic, and efficient payment ecosystems whilst maintaining collaborative relationships with their sellers around the world, ” said Ramana Satyavarapu, Chief Technology Officer at Nium.

Cross-Border 52

Cross-Border Cross-Border Payments Multi-Currency Payment Service Provider (PSP) 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 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 89

Financial Crimes Crime Authorization Consulting 89

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

M2P Fintech

JANUARY 3, 2024

Addressing these concerns requires investment in the right technology and resources. Regulatory Compliance To stay compliant, banks need to adhere to central bank regulations on transaction security, data security, and privacy, among others. Why Turing?

Payment APIs and Integration 59

Payment APIs and Integration CRM Online and Mobile Banking Regulatory Compliance 59

Fintech News

JANUARY 16, 2024

Operational efficiency analysis suggests the potential to boost productivity by 22-30 percent, and studies show that revenue could increase by 6 percent. However, its most significant financial impact will be improving sales and marketing efforts, quality of customer interaction, and product application processes.

AI 94

AI Risk Non-Bank On-Demand 94

Neopay

JULY 2, 2024

Consumer understanding and support : Ensuring that consumers understand the products and services they are purchasing is paramount. The FCA highlighted that senior management must be accountable for consumer outcomes and that firms should have clear processes for escalating and addressing issues. Registration is required to attend.

Consumer 52

Consumer Compliance Regulatory Compliance Assessments 52

Fintech News

JUNE 12, 2024

It allows them to respond quickly to market trends, launch new products and services, and provide a seamless customer experience across various digital channels,” he added. Regulatory compliance, scalability, and performance are likely to pose continued hurdles.

Credit Cards 89

Credit Cards Payment APIs and Integration Card Issuer Non-Bank 89

The Fintech Times

APRIL 30, 2024

This April, The Fintech Times is focusing on all things embedded finance, the integration of financial services into non-financial products and services. As the space rapidly develops, we look to highlight the latest developments, initiatives and challenges embedded finance has to offer and overcome across the globe.

Embedded Finance 109

Embedded Finance Finance Innovation AI 109

PYMNTS

DECEMBER 15, 2020

Tipalti Chief Customer and Operating Officer Manish Vrishaketu said in the announcement that Acuant comprehended its need for automation and addressed its fast-growing business with safe and “user-friendly technology.”.

Automation 75

Automation Transactions Verification Regulatory Compliance 75

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

JUNE 11, 2024

Under-representation Kate Hampton, chief strategy officer, NMI Kate Hampton, chief strategy officer at embedded payments solutions provider NMI, said: “Having worked in the technology and payments sector for almost two decades, I have gained a deep understanding of the critical importance of addressing DEI within the fintech industry.

FinTech 119

FinTech Innovation Finance Cross-Border Payments 119

Fintech News

MAY 2, 2024

” Samarth Bansal Wise’s expansion strategy in Asia Pacific is twofold: entering new markets and expanding its product portfolio in existing markets to address customer pain points and opportunities. Is there more opportunity for us to expand our product portfolio to offer more services to the customer?

Cross-Border 87

Cross-Border Cross-Border Payments Push-to-Card On-Demand 87

Nanonets

FEBRUARY 12, 2024

As we embrace the advantages of automation, addressing transparency concerns becomes paramount, ensuring that borrowers understand the factors influencing their loan outcomes. No more waiting on hold or adhering to business hours—borrowers can now have their queries addressed instantly.

AI 52

AI Fraud Detection Regulatory Compliance Automation 52

The Fintech Times

MARCH 28, 2024

The acquisition marks the latest in a series of strategic investments by Abrigo to help financial institutions streamline risk and accounting management processes while ensuring internal and regulatory compliance. GFT Technologies has appointed Marco Santos as the new CEO of the digitalisation group.

FinTech 64

FinTech Online and Mobile Banking Central Bank Push-to-Card 64

PYMNTS

SEPTEMBER 29, 2020

Jumio , known for its suite of artificial intelligence (AI)-powered identity verification and online know your customer (KYC) products, is beefing up its anti-money laundering (AML) powers. The Palo Alto-based firm on Tuesday (Sept. The Palo Alto-based firm on Tuesday (Sept. The announcement comes on the heels of Jumio’s Sept.

Financial Crimes 61

Financial Crimes AML Crime Money Laundering 61

The Fintech Times

FEBRUARY 27, 2024

This can be profoundly difficult in monolithic and highly production-focussed environments, whereas a fintech whose essential role is offering its products via a UI, and who spends a great deal of time in that UI, will naturally see how to allow its customers to do the design work.

Payments Trends 64

Payments Trends Payments Stablecoins FinTech 64

FICO

AUGUST 12, 2021

Open Banking is a term that describes an FI sharing customer and product data, as well as transfer and payment functions, with third parties via application programming interface (API). AML compliance has not traditionally focused on monitoring this type of network. What is Open Banking? Customer data screen-scraping widespread.

Financial Crimes 52

Financial Crimes Compliance Crime Risk 52

Fintech News

JULY 4, 2024

AI can enhance central banks’ capabilities across various functions, including economic forecasting, financial stability monitoring, and regulatory compliance. AI can streamline regulatory processes, enhancing the efficiency of know-your-customer (KYC) and anti-money laundering (AML) procedures.

Central Bank 73

Central Bank AI Correspondent Bank Correspondent 73

Segpay

DECEMBER 7, 2023

More information about secure payment practices and their importance in maintaining regulatory compliance can be found here. Providing accurate and comprehensive information about products and services while refraining from deceptive marketing tactics is crucial.

Compliance 52

Compliance Privacy Regulatory Compliance Data Security 52

The Fintech Times

MARCH 16, 2024

AFC’s diverse members represent a cross section of responsible Fintech companies that embrace transparency and are rooted in regulatory compliance and consumer protection. AFC has publicly supported 36 per cent rate caps at state and federal levels, which is a key component of their advocacy and of addressing responsible lending.

Community Banks 59

Community Banks Consumer Protection Regulatory Compliance FinTech 59

The Finance Weekly

OCTOBER 15, 2023

Boosting Productivity , AI tools automate repetitive financial tasks, making financial reporting and analysis faster and more efficient. Ethical AI Use: Understand and address ethical concerns related to AI algorithms, promoting fairness and transparency in financial processes. Avoid high-stakes applications without human review.

AI 52

AI Risk Automation Data Security 52

Fintech News

JUNE 12, 2024

It allows them to respond quickly to market trends, launch new products and services, and provide a seamless customer experience across various digital channels,” he added. Regulatory compliance, scalability, and performance are likely to pose continued hurdles.

Credit Cards 52

Credit Cards Payment APIs and Integration Card Issuer Non-Bank 52

Tearsheet

JULY 1, 2024

Security The Gen Z consumer wants strong security features in the financial products they use, like advanced identity and credit protection. This reduces fraud risk and addresses data privacy concerns, which, again, helps to build trust between merchants and consumers. BNPL is not your grandma’s layaway.

BNPL 106

BNPL Online and Mobile Banking Encryption Payments 106

Fintech Finance

APRIL 8, 2024

Introducing digital currency and blockchain for cross-border payments Together with Onyx’s Blockchain Deposit Account product, JPM Coin, Kyriba leverages the power of blockchain and efficiency of real-time payment processing to increase end-to-end payments transparency.

Payment APIs and Integration 52

Payment APIs and Integration Cross-Border Innovation Cross-Border Payments 52

Fintech News

FEBRUARY 26, 2024

While a majority view their regulatory landscape as adequate, with 63% of surveyed fintechs rating it favourably (with 36% even lauding their regulatory environment as a major supporting factor of their operational growth in recent years), a considerable segment finds aspects of regulatory compliance, licensing, and registration to be burdensome.

FinTech 121

FinTech Consumer Financial Inclusion On-Demand 121

The Fintech Times

FEBRUARY 21, 2024

. “This year, we expect to see this data used in more innovative ways to produce richer insights: a welcome by-product of businesses using the standard in anticipation of next year’s migration deadline.” “In 2024, cross-border payments volumes will continue to grow rapidly.

Cross-Border Payments 78

Cross-Border Payments Cross-Border ISO 20022 SWIFT 78

Stax

MARCH 15, 2024

Regulatory Compliance: Payment systems may also need to comply with specific regulations and laws related to financial transactions and data protection, depending on the region and industry. Shipping address is also required for any physical deliveries. With Stax, you can rest easy knowing your data is protected and secure.

Process 88

Process Security PCI DSS Encryption 88

EBizCharge

JULY 26, 2024

Proper revenue recognition is significant beyond regulatory compliance. Public companies should ensure compliance with GAAP for financial statements, providing a standard framework for financial reporting. Customer focus: Prioritize customer satisfaction by delivering high-quality products and services.

Accounts 52

Accounts Best Practices Adjustments Regulatory Compliance 52

Nanonets

JUNE 3, 2024

The goal of data extraction is to get the raw data out so you can do something with it—for example, run analytics on your CRM contacts list or create mailing lists using customer emails and addresses. Enhanced Productivity: Employees can focus on strategic tasks, maximizing their expertise.

AI 40

AI Process Automation XML 40

The Fintech Times

MAY 14, 2024

Navigating through a labyrinth of regulations and compliance requirements can be daunting, especially when these regulations vary across different regions and jurisdictions. This can significantly slow down the pace of innovation and hinder the rapid deployment of new products and services.

Compliance 64

Compliance Privacy FinTech Innovation 64

PYMNTS

SEPTEMBER 25, 2019

The current regulatory climate remains in its relative infancy for this industry, so marketplace lenders are not only tasked with maintaining compliance but diligently tracking the regulatory landscape to forecast new and changing rules. In the U.S., In June, the U.K.’s Data Solutions For Data Problems.

Compliance 47

Compliance P2P Risk Management Regulatory Compliance 47

PYMNTS

NOVEMBER 29, 2018

The allure of blockchain was its potential to be a catch-all solution, but as innovators take a more practical approach to introducing the technology to the real world, its true opportunity may lie in addressing highly specialized, unique points of friction. trillion by 2025.

Cryptocurrency 54

Cryptocurrency Audit Blockchain B2B 54

FICO

AUGUST 25, 2021

Does it offer consistent scaling across products to allow credit grantors to compare risks between different products? Does the model suite provide enriched documentation support, including a regulatory package to address compliance questions and additional guidance for new and existing clients?

Regulatory Compliance 52

Regulatory Compliance Assessments Compliance Origination 52

PYMNTS

APRIL 30, 2020

This has led to the ability for legal cannabis businesses to secure certain key financial services and products — most notably, the ability to accept electronic payments from consumers, while digitizing their wholesale and B2B payment processes through direct bank transfers. “These institutions are few and far between.”

Legal 78

Legal Credit Union Cannabis Banking Non-Bank 78

PYMNTS

NOVEMBER 19, 2019

PayQwick Chief Operating Officer Bob Craig told PYMNTS in a recent interview that it’s not that financial institutions (FIs) don’t want to address this challenge and bank the underserved legal marijuana industry — it’s that the burden is so large that they are often unable to meet its requirements in-house. The Compliance Burden Proliferates.

Compliance 43

Compliance Legal Payments Due Diligence 43