FloQast

APRIL 30, 2024

The Accountability Challenge : Ensuring clear instructions and responsibilities for control execution is vital, especially when dealing with control owners outside the accounting department, to mitigate business risks and maintain compliance integrity. Reactive Risk Assessment Processes : Good reaction times can make you a lot of money.

Compliance 93

Compliance Addressing Audit Risk 93

Fintech Review

JUNE 12, 2024

We explore the innovations in personalised insurance products, the role of IoT devices in data collection and risk assessment, and the challenges faced by established insurance companies integrating new technologies. Enhanced Risk Assessment IoT data provides insurers with a more accurate understanding of risk profiles.

Risk Assessment 96

Risk Assessment Regulatory Compliance Assessments Risk Management 96

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

The Fintech Times

FEBRUARY 8, 2024

Behind every headline-grabbing exposé lies a crucial lesson: the importance of preemptive action to address internal issues before they spiral into external crises. Founded by Pav Gill , the whistleblower behind the Wirecard scandal, Confide empowers organisations to preemptively address internal issues before they escalate to external leaks.

Risk Management 59

Risk Management Government Governance Risk Assessment 59

Fintech Review

SEPTEMBER 5, 2024

Today, the company announced major enhancements to its platform that bridge the gap between Web2 and Web3, enabling real-time risk assessment and the proactive blocking of scams like pig butchering, ransomware, sextortion, and others. AI is pioneering a new era in fraud prevention. In 2023, investment scams alone led to more than $4.5

Scams 52

Scams Blocks AI Fraud Prevention 52

Neopay

MAY 7, 2024

The proposed updates to the Financial Crime Guide (FCG) are multifaceted, each aimed at addressing specific challenges and aligning with emerging trends in financial crime prevention. This includes references to the travel rule and updates to sections on risk assessment and fraud.

Financial Crimes 52

Financial Crimes Crime Risk Assessment Money Laundering 52

Fintech Finance

AUGUST 2, 2024

The solution integrates seamlessly with financial systems, providing real-time alerts, customizable rule engines, and robust data management for effective transaction validation and risk management. AML Screening : Sanctions and watchlist screening, transaction pattern analysis for detecting money laundering activities.

Instant Payments 94

Instant Payments Transactions Payment APIs and Integration Compliance 94

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

PYMNTS

SEPTEMBER 29, 2017

However, interest rates, FX, commodity and derivatives risk, as well as operational risk, should not be disregarded.”. Beaulande added that advanced analytics technology is now a must-have for banks to adequately manage these risks. Risk management, he continued, isn’t just about responding to threats.

Treasury 56

Treasury Addressing Treasury Management FinTech 56

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

The Fintech Times

MARCH 12, 2024

As the world grapples with the increasingly urgent need to address climate change, industries across the board are being called upon to play their part in mitigating its effects. Among these, the insurance industry stands as a critical player uniquely positioned to drive sustainable initiatives and proactively manage climate-related risks.

Mitigation 72

Mitigation Risk Underwriting Risk Assessment 72

FICO

MARCH 8, 2021

eDriving SM , a leading global provider of digital driver risk management programs, has partnered with FICO to create scoring algorithms to capture driving behavior and develop a transformational predictor of a drivers’ risk level designed to help them reduce their risk of future collisions. by Nikhil Behl.

Risk 98

Risk Risk Assessment Assessments Risk Management 98

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 127

FinTech Embedded Finance BNPL AI 127

Nanonets

APRIL 11, 2023

In this blog post, we will discuss the challenges faced by commercial lenders today, the pain points in the loan process, and how loan automation can address these issues to deliver significant benefits to all stakeholders. Manual compliance processes increase the risk of non-compliance and may result in costly fines or penalties.

Origination 52

Origination Automation Risk Assessment Underwriting 52

FloQast

APRIL 8, 2024

Addressing material weaknesses is not just a legal requirement but a cornerstone of corporate governance and ensuring investor confidence, no matter the company size. Conduct regular risk assessments. Regularly assess the risk of material misstatement in financial reporting and adjust controls accordingly.

Compliance 52

Compliance Audit Best Practices Risk Assessment 52

Neopay

MARCH 4, 2024

Therefore, prioritising compliance, risk management, and ethical conduct is essential to mitigate the risk of regulatory scrutiny. For firms operating in the financial services sector, being publicly named as subjects of investigation can have significant reputational and business implications.

Compliance 52

Compliance Mitigation Risk Mitigation Regulatory Compliance 52

FICO

JULY 31, 2019

As TPRM or third-party risk management grows in importance, so does cybersecurity risk assessment as part of it. The latest Assessment of Business Cyber Risk (ABC) report from the US Chamber of Commerce and FICO discusses four steps for improving third-party cybersecurity risk management.

Risk 70

Risk Security Risk Assessment Risk Management 70

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

Nanonets

AUGUST 1, 2023

To address these challenges and unlock operational efficiency, organizations are turning to internal audit automation. Artificial Intelligence (AI): AI is transforming the landscape of internal audit, empowering auditors with intelligent tools that revolutionize risk assessment, anomaly detection, and predictive modeling.

Audit 52

Audit Automation Risk Assessment Bots 52

PYMNTS

SEPTEMBER 30, 2018

1) that IdentityMind’s pioneering compliance, risk management and fraud prevention platform has integrated CipherTrace ’s digital currency risk assessment technology. IdentityMind Global announced Monday (Oct.

Suspicious Activity Report (SAR) 57

Suspicious Activity Report (SAR) Money Laundering Risk Assessment SARS 57

Nanonets

AUGUST 1, 2023

Built on advanced AI software and cloud-based data, audit automation effectively addresses the drawbacks of using disparate and stand-alone applications and tools for the aggregation and processing of financial data. What are the benefits of audit automation?  Automation ensures standardized, reliable results.

Audit 40

Audit Automation Risk Assessment Assessments 40

The Fintech Times

MAY 14, 2024

My previous roles in corporate banking and investments, coupled with my experience in building tech companies, have provided me with a unique blend of financial insight, strategic thinking, client relationship management, risk management, entrepreneurship, and technical expertise.

Compliance 64

Compliance Privacy FinTech Innovation 64

FICO

DECEMBER 2, 2019

This version of the FICO Cyber Risk Score exceeds the published performance results of competitors by a factor of more than 5X, further solidifying FICO’s position as the most accurate security rating on the market. A new report from Chartis Research named FICO as a category leader in cyber risk quantification.

Risk 52

Risk Data Breach Breach Assessments 52

Nanonets

DECEMBER 13, 2023

Real-time reporting enables insurers to address compliance concerns promptly, minimizing the impact on operations. Risk Assessment and Compliance Prediction: AI can assist in proactively identifying potential compliance risks by analyzing historical data and patterns.

AI 102

AI Process Fraud Detection Compliance 102

FICO

AUGUST 27, 2019

This risk is highlighted in a new report by the U.S. Chamber of Commerce and underscores the need for effective third-party risk management (TPRM). The Q2 Assessment of Business Cyber Risk (ABC) report released this month by the U.S. New Business Imperative: Third-Party Risk Management.

Cybersecurity 40

Cybersecurity Risk Management Assessments Risk Assessment 40

Seon

SEPTEMBER 20, 2023

This is often achieved by entering their email address and chosen password. Upon acceptance of this information, the organization must request PII from the individual, usually one or more documents confirming their full name, address, and date of birth. Both AML and KYC onboarding are systems of risk management.

Process 52

Process Due Diligence AML Verification 52

FloQast

MARCH 1, 2024

The Sarbanes-Oxley Act of 2002 , commonly referred to as SOX, reflected a bipartisan congressional effort to address the root causes of those financial scandals. Some examples of external fraud risks include vendor fraud and data breaches. In many cases, their risk management efforts help reduce the cost of an external audit.

Audit 52

Audit Compliance Assessments Procedures 52

The Finance Weekly

JUNE 7, 2022

The following are areas that many organizations need to address. Outsourcing responsibility: Outsourcing to a managed security service provider (MSSP) is a well-established tactic, particularly for companies that need to secure resources quickly or that cannot hire and retain adequate staffing. Strategic mistakes 1.

Cybersecurity 52

Cybersecurity Breach Privacy Risk Management 52

Global Fintech & Digital Assets

MARCH 5, 2024

Banks are expected to apply the follow guidance in connection with their digital asset custodial services: Governance and risk management : Prior to launching digital asset custodial services, banks are expected to undertake a comprehensive risk assessment and to implement appropriate policies and procedures to mitigate identified risks.

Authorization 59

Authorization Product Due Diligence Procedures 59

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

MARCH 12, 2018

But new research released by PricewaterhouseCoopers suggests that small businesses still need more education, resources and technology to address the threat of fraud – not only because fraud levels are rising, but also because many entrepreneurs may not even be aware they’ve already been targeted.

Small Business 54

Small Business Cybersecurity Risk Assessment Data Breach 54

FICO

AUGUST 7, 2019

Working with Orange, Deutsche Telekom, British Telecom and Croatia Telekom, plus Amdocs, IBM and Bulb Technologies, we embarked on an adventure to address a common challenge within telecom business assurance. Fighting Fraud and Controlling Risk in New Service Requests.

Risk Assessment 40

Risk Assessment Assessments API Best Practices 40

PYMNTS

JULY 24, 2020

Lackluster Risk Strategies. Small businesses aren’t the only ones falling short on their supply chain, supplier and third-party risk management strategies. ” Yet SMBs face even greater headwinds in their efforts to mitigate these risks. ”

Risk 70

Risk Due Diligence Risk Mitigation Mitigation 70

Tearsheet

AUGUST 7, 2024

Morgan’s financial strength and Slope’s innovative approach to credit risk assessment and monitoring. Morgan Payments Partner Network align with your strategy for addressing the evolving needs of corporate clients in the embedded finance market? The partnership brings together J.P.

AI 59

AI B2B Finance Underwriting 59

Nanonets

FEBRUARY 15, 2024

Needs Assessment Report for XYZ Corp Executive Summary This report identifies the need for new manufacturing machinery at XYZ Corp to address a decline in production efficiency and to meet increasing customer demand. Delivery Schedule The Supplier agrees to deliver the Products to [Delivery Address] on or before [Delivery Date].

Finance 52

Finance RFP Agreements Automation 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

DECEMBER 4, 2017

Judging by the startup’s name, it’s no surprise that Emailage is leveraging customer email addresses as it investigates transaction risk factors. Now, the firm is also using phone data to provide an even richer risk assessment — and relaying that data back to retailers so they can also leverage it.

Cross-Border 45

Cross-Border Payments Due Diligence Cross-Border Payments 45