Fintech Finance

NOVEMBER 14, 2024

Fraud prevention and regulatory compliance are the major challenges facing the industry When asked about the top challenges expected for the year ahead, fraud prevention topped the list, with 63% of respondents identifying it as a primary concern.

Regulatory Compliance 94

Regulatory Compliance Payment APIs and Integration Cross-Border Payments Fraud Prevention 94

PYMNTS

AUGUST 21, 2020

While Chinese traders are limited to the purchase of up to $50,000 of foreign currency annually, the volume suggests stablecoins could be being used to circumvent the regulation, according to Chainalysis , the New York-based provider of regulatory compliance software.

Cryptocurrency 139

Cryptocurrency Stablecoins Money Laundering Regulatory Compliance 139

Fintech News

MARCH 26, 2024

The initiative enhances Sumsub’s Travel Rule compliance services for the cryptocurrency sector by addressing the sunrise issue, a significant challenge where counterparties may not be reachable due to varying adherence to Travel Rule requirements across VASPs.

Travel Rule 115

Travel Rule Rules Compliance Transactions 115

VISTA InfoSec

OCTOBER 20, 2023

Regulatory Compliance : Meets requirements like HIPAA that mandate disaster recovery plans. While entities can choose their methods for HIPAA disaster recovery planning, HIPAA mandates basic requirements in section 164.308(a)(7)(ii) , requiring organizations to address certain aspects.

Disaster Recovery 130

Disaster Recovery Regulatory Compliance Procedures Duplicate 130

Fintech Finance

JUNE 24, 2024

This makes it much easier than traditional banks that often require proof of address to get a bank card. By embracing cutting-edge technology, the partnership has allowed Mama Money to fast-track innovation in the market while maintaining the highest levels of regulatory compliance.

Bank Card 98

Bank Card Regulatory Compliance Cross-Border Financial Inclusion 98

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 Risk Assessment Regulatory Compliance 144

Fintech Review

JUNE 12, 2024

These challenges include legacy systems, regulatory compliance, and cultural resistance to change. Regulatory Compliance The insurance industry is heavily regulated, and new technologies must comply with existing regulations. Insurers need to navigate complex regulatory landscapes while implementing innovative solutions.

Risk Assessment 96

Risk Assessment Regulatory Compliance Assessments Risk Management 96

Fintech News

OCTOBER 21, 2024

Data management & privacy, and regulatory compliance are also significant issues that must be addressed closely. DeFI Challenges However, in the study I also identify several challenges on the path to DeFi adoption. Security stands out as the primary concern, with 91% of experts identifying it as a critical issue.

Regulatory Compliance 112

Regulatory Compliance Finance Privacy Risk Management 112

Fintech Finance

JANUARY 11, 2024

It explores the challenges faced by financial institutions in correspondent banking relationships, shedding light on regulatory compliance, security concerns, foreign exchange rate risks, and the impact of fintech players entering the field. The post U.S.

Cross-Border Payments 93

Cross-Border Payments Cross-Border Faster Payments ISO 20022 93

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 106

Compliance AML Money Laundering Risk Assessment 106

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

The Fintech Times

FEBRUARY 25, 2024

Financial institutions orchestrate their offerings based on these events to ensure customer satisfaction and regulatory compliance. is the most comprehensive ‘first principles’ technology addressing the current and future needs of any financial institution. “We have conducted over 150 eMACH.ai ” The eMACH.ai

Payment APIs and Integration 105

Payment APIs and Integration Regulatory Compliance API Compliance 105

Stax

AUGUST 22, 2024

PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. Major risk factors for PayFacs include fraudulent transactions, merchant credit risk, regulatory compliance, and operational risks.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

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 109

Financial Crimes Crime Authorization Consulting 109

VISTA InfoSec

FEBRUARY 13, 2024

In jurisdictions where regulatory compliance is stringent, such as in Singapore, audits are an indispensable part of the cybersecurity framework. Developers typically release updates to address any new threats they identify, which makes it crucial for organizations to apply these updates promptly.

Cybersecurity 130

Cybersecurity Audit Best Practices Mitigation 130

Fintech Finance

OCTOBER 14, 2024

More than 40 billion cross-border transactions are screened each year for sanctions compliance, often multiple times to meet different regulatory requirements across the jurisdictions through which money flows. Almost 99% of those flagged for further investigation turn out to be false positives, creating extra costs and delays.

Cross-Border Payments 97

Cross-Border Payments Cross-Border SWIFT Innovation 97

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

Fintech Review

JUNE 25, 2024

Traditionally, such transactions are marred by high fees, lengthy processing times, and inherent complexities due to different regulatory frameworks and currencies. Blockchain technology addresses these challenges by enabling direct peer-to-peer transactions across borders.

Blockchain 95

Blockchain Technology Innovation Cross-Border 95

Finextra

OCTOBER 24, 2024

IPC Systems, a leader in trading communications and connectivity solutions, announces the launch of a new offering in collaboration with Kerv, a Compliance-as-a-Service specialist, to address the growing challenge of regulatory compliance in financial services operation and delivery.

Compliance 52

Compliance Regulatory Compliance Addressing 52

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 112

Risk Management AI Risk Use Case 112

The Fintech Times

NOVEMBER 16, 2024

Ensuring regulatory compliance Regulatory compliance also emerged as a significant challenge, with 60 per cent of participants highlighting the complexities of navigating evolving regulations.

Fraud Prevention 59

Fraud Prevention Compliance Regulatory Compliance AI 59

Fintech News

DECEMBER 11, 2024

This focus aims to address financing gaps and enhance operational efficiency for businesses. Green Link’s supply chain financing and ANEXT Bank’s SME-focused offerings further underline their commitment to addressing specific market gaps. Challenges in a Competitive Ecosystem Despite these advancements, challenges remain.

Underserved 109

Underserved Regulatory Compliance Innovation Financial Inclusion 109

The Fintech Times

OCTOBER 1, 2024

Roger Binks , chief commercial officer at Kani Payments Roger Binks , chief commercial officer at Kani Payments, commented: “The partnership between Kani Payments and Cardaq addresses significant industry challenges, including the implementation of automating reconciliations at pace, effective regulatory compliance, and fee apportioning.

Reconciliation 69

Reconciliation Compliance Automation Regulatory Compliance 69

The Fintech Times

SEPTEMBER 25, 2024

By embracing emerging technologies, firms can address the key challenges confronting them like cybersecurity and skill shortages to enhance their competitiveness and position themselves for future growth.”

Consulting 64

Consulting Risk Regulatory Compliance Financial Crimes 64

Fintech Finance

OCTOBER 23, 2024

Intix’s survey found that most banks are prioritising investments in risk and compliance to prepare for these upcoming changes. Notably, 42% of organisations are dedicating the majority of their budgets to regulatory compliance. Banks show similar alignment in their approach to sanction screening and fraud detection.

Instant Payments 105

Instant Payments ISO 20022 Regulations Fraud Detection 105

Fintech News

NOVEMBER 20, 2024

Featuring a live discussion featuring leaders from Amazon Web Services (AWS), EFG and Nomura, the session provided a roadmap for financial institutions to capitalise on AI’s benefits while ensuring regulatory compliance.

AI 109

AI Finance APACS Regulatory Compliance 109

The Fintech Times

JANUARY 8, 2025

Having obtained the MPI licence, XTransfer can now provide services including account issuance, domestic money transfer, cross-border money transfer, and e-money issuance, addressing the increasing demand for secure and convenient cross-border payment solutions in Singapore.

Cross-Border Payments 59

Cross-Border Payments Cross-Border Payment Solutions Security 59

Fintech Review

JANUARY 9, 2024

Prioritize Regulatory Compliance Photo by Sora Shimazaki on Pexels.com For fintech founders, one of the primary areas of focus should be regulatory compliance. Navigating this regulatory landscape can be challenging, but it’s paramount for success.

FinTech 64

FinTech Regulatory Compliance Compliance Regulations 64

PYMNTS

APRIL 24, 2020

Among FIs interested in smart agent-based AI, 67 percent believe it would help address payments fraud, and 62.1 It also examines how other computational systems are being used to manage payments, regulatory compliance, financial fraud and other important business functions.

Credit Risk 100

Credit Risk Risk AI Underwriting 100

The Fintech Times

OCTOBER 12, 2024

Although this may not become a direct customer differentiator, challenger banks have increasingly come under the scrutiny of the FCA , meaning regulatory compliance and security will remain essential as they grow.

AI 109

AI Addressing On-Demand Blockchain 109

The Fintech Times

OCTOBER 18, 2024

Law and regulation risks : The risk of financial, reputational, or litigation damage resulting from a failure to monitor, control, and reduce regulatory compliance risks. Financial crime risks : Risks associated with the failure to prevent financial crimes such as money laundering and market abuse.

Risk 108

Risk FinTech Risk Management Cybersecurity 108

The Fintech Times

OCTOBER 9, 2024

Coreless banking platform business, XYB has announced it will be joining forces with global tech firm, IBM , to help banks modernise their core systems and address growing requirements for modernisation initiatives.

Regulatory Compliance 52

Regulatory Compliance Compliance Addressing Consulting 52

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

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 112

AI Risk Non-Bank On-Demand 112

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. It is easy to see how things can become very complex.”.

Money Laundering 52

Money Laundering Regulatory Compliance Correspondent Bank AML 52

Fintech Finance

AUGUST 22, 2024

As a result, customers can bring enterprise workloads to the cloud quickly and efficiently while addressing the strictest regulatory compliance requirements.

Void 98

Void Payment Service Provider (PSP) Alternative Payment Methods Payments 98

Fintech News

APRIL 28, 2024

To address these issues, banks are integrating financial and non-financial data to improve decision-making, and leveraging AI/ML capabilities to enhance forecasting accuracy. These trends were drawn from interviews with AWS customers in the banking industry, combined with insight from analyst firms and global consultancies.

AI 109

AI Innovation Financial Crimes Crime 109