VISTA InfoSec

MARCH 6, 2024

Other Logs Review "periodically" based on the company's risk assessment Periodic review is still required but now explicitly mentioned in Requirement 10.4.2 Aligning periodic reviews with the organization’s risk profile. Changes Core Requirement Systems must be time-synchronized using a reliable technology. assessment.

PCI DSS 130

PCI DSS Procedures Best Practices Risk Assessment 130

Seon

JUNE 24, 2024

By adopting proactive measures such as continuous monitoring, real-time analytics, and comprehensive risk assessment protocols, organizations can layer their defenses against identity-related threats. This involves periodic reassessment of risks to incorporate new vulnerabilities, technologies or changing business needs.

Risk Management 52

Risk Management Mitigation Risk Identity Theft 52

Neopay

MARCH 5, 2024

The Financial Action Task Force (FATF) convened its February plenary from 21 to 23 February 2024, addressing crucial issues concerning money laundering, terrorism financing, and proliferation financing. Firms are advised to update their internal jurisdiction lists accordingly.

AML 52

AML Risk Assessment Money Laundering Assessments 52

Fintech News

JUNE 23, 2024

Singapore has released its updated Money Laundering (ML) National Risk Assessment (NRA) , highlighting increased risks in the digital payment token (DPT) services sector. The updated assessment highlights increased risks due to economic and geopolitical shifts, as well as the rise in technology-enabled transactions.

Money Laundering 106

Money Laundering Risk Crime Law Enforcement 106

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 News

MARCH 3, 2024

Cindy, who brings over three decades of experience in the compliance sector, will spearhead the company’s efforts in regulatory compliance, policy formulation and execution, risk assessment, and business advisory to support FOMO Group’s expanding operations. She has previously served as the Chief Control Officer at Bank J.

Compliance 106

Compliance AML Money Laundering Regulatory Compliance 106

Fintech Review

FEBRUARY 13, 2024

With innovations like mobile banking, digital wallets, and blockchain technology at the forefront, fintech is leading a financial revolution. Consumer protection is not just a regulatory requirement : it is a fundamental right that must be safeguarded amidst advancing technology.

Consumer Protection 105

Consumer Protection Innovation Consumer FinTech 105

Fintech News

OCTOBER 16, 2024

It will explore the urgency of harnessing these groundbreaking technologies to enhance performance in financial services, future-proof encryption, and optimise efficiency and address the challenges of applying AI and quantum systems to the financial services tech stack.

FinTech 109

FinTech Cross-Border Payments AI Innovation 109

Fintech News

MARCH 20, 2024

Sumsub, a global verification provider, is addressing the sharp increase in fraud networks in the Asia-Pacific (APAC) region with its enhanced Fraud Prevention Solution. To counter these threats, Sumsub has upgraded its Fraud Prevention Solution with advanced anti-fraud technologies.

APACS 105

APACS Fraud Prevention Deepfake Account Takeovers 105

Fintech Finance

AUGUST 2, 2024

AI-Powered Enhancements ComplyTek employs sophisticated AI technologies to enhance its transaction monitoring solutions significantly: Live Execution Monitoring: ScanTek machine learning and statistical algorithms, identifies fraud in real time by suggesting intelligent risk rules and providing transaction fraud scores.

Instant Payments 94

Instant Payments Transactions Payment APIs and Integration Compliance 94

The Fintech Times

JANUARY 17, 2024

Helping firms achieve this, Minerva , an anti-money laundering (AML) compliance technology provider, has launched a new channel programme to provide better accessibility to its services. The depth and quality of insights that Minerva’s technology provides is exceptional, and can be a valuable tool for Equifax Canada customers.

AML 59

AML Financial Crimes Crime Money Laundering 59

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

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 Governance Government Risk Assessment 59

The Fintech Times

MARCH 25, 2024

Here, Mark Horwood-James , managing director of personal finance technology at Moneyhub , the data and payments fintech, explains how open finance is changing the way business leaders approach tech investment. Today’s decisions around technology investment and strategic direction will lay the foundation for future success.

Finance 115

Finance Regulatory Compliance Compliance On-Demand 115

The Fintech Times

SEPTEMBER 30, 2024

Having explored the biggest compliance challenges, opportunities and future trends, we’re now looking at the role supervisory technology (suptech) tools can play in changing the regulatory landscape. ” The post Leveraging Suptech: How Can Advanced Tools Enhance Regulatory Efficiency and Risk Detection?

Risk 64

Risk Compliance Authorization Risk Assessment 64

PYMNTS

APRIL 28, 2019

Set up in 2016 by companies including Google, Microsoft, Amazon and Facebook, The Partnership on AI released a report that stated algorithmic risk assessment tools cannot properly provide the right level of transparency and accountability. This report documents the serious shortcomings of risk assessment tools in the U.S.

Law Enforcement 58

Law Enforcement Laws Risk Assessment AI 58

PYMNTS

SEPTEMBER 29, 2017

“Managing liquidity and credit risk are definitely of main concern to FIs. 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.

Treasury 56

Treasury Addressing Treasury Management FinTech 56

Finovate

MAY 14, 2024

. “We chose the Napier AI platform because it offered NextGen technology which enables us to strengthen our financial crime controls and matches our drive to offer clients a seamless digital experience, within a robust regulatory environment,” Salt Bank CEO Gabriela Nistor said. million (£45 million) from Crestline Investors.

AI 59

AI Transactions Financial Crimes Crime 59

Nanonets

APRIL 11, 2023

But in recent years, advancements in technology have paved the way for digitizing this process, which has revolutionized the lending industry by streamlining processes and improving operational efficiency. Lenders must adapt to these expectations by embracing new technologies and rethinking traditional lending processes to remain competitive.

Origination 52

Origination Automation Risk Assessment Underwriting 52

The Fintech Times

MARCH 29, 2024

From enhancing risk assessment accuracy to personalising products and services, insurers are leveraging data analytics to optimise decision-making processes, mitigate risks and cater to evolving consumer needs. “At Cowbell, we are actively assessing the cyber risk posture of over 39 million businesses in the US and the UK.

Risk Assessment 59

Risk Assessment Underwriting Assessments Risk 59

The Fintech Times

MARCH 28, 2024

This March, The Fintech Times is shifting its spotlight towards insurtech, exploring the potential impact of blockchain technology on insurance processes and its role in instilling trust in digital transactions. With our satellite-based monitoring and risk assessment technology we have swiftly created the capability to address this gap.

Innovation 69

Innovation Consumer On-Demand Risk Assessment 69

Neopay

JUNE 27, 2024

Taking steps to overcome some of the problems firms have experienced in the last few years, it has taken on more staff, improved technology and digitized parts of the authorisation process. This includes conducting a thorough risk assessment, implementing appropriate risk controls and establishing effective monitoring mechanisms.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

VISTA InfoSec

JULY 31, 2023

By following the steps outlined in the checklist, businesses can take a comprehensive approach to security measures and access controls, and respond to new threats posed by technological advancements. If any areas of non-compliance are identified during the assessment, the QSA will report their findings to the business.

PCI DSS 130

PCI DSS Security Encryption Compliance 130

Fintech News

SEPTEMBER 9, 2024

These countries, which include Denmark, Finland, Iceland, Norway, Sweden and Greenland, are known for their advanced digital infrastructure, openness to new technologies, and collaborative spirit. These companies are leveraging their strong European foundations to address local needs and adapt to regional regulatory environments.

APACS 112

APACS FinTech Assessments Risk Assessment 112

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 Payment APIs and Integration 88

The Fintech Times

MAY 16, 2024

Jeff Sekinger, CEO and founder at Nurp LLC “Artificial intelligence and machine learning are increasingly pivotal in asset management, arguably standing as some of the most transformative technologies in the field. “As these technologies continue to develop, their potential to revolutionise how asset managers operate is immense.

Innovation 80

Innovation Blockchain Stablecoins AI 80

The Fintech Times

APRIL 26, 2024

In fact, many do not think they are addressing the practicalities of modern AML operations as a result of current and upcoming AML regulations. “This landmark PwC survey provides invaluable insights into how firms have responded to recent regulatory and technological shifts.

AML 59

AML Regulations Financial Crimes Money Laundering 59

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

The FICO® Safe Driving Score leverages telematics data from driver smartphones to assess risky behaviors. This data is used by the Mentor by eDriving SM smartphone app, which prescribes in-app training modules and manager coaching designed to address identified areas of risk, to help improve a driver’s score and reduce risk.

Risk 98

Risk Risk Assessment Assessments Risk Management 98

Nanonets

AUGUST 1, 2023

In the rapidly evolving world of auditing, innovative technologies have revolutionized traditional practices. Audit Artificial intelligence implementation addresses the daunting task of sifting through vast amounts of data, automating tasks like data entry and analysis, leading to increased efficiency and precision.

Audit 52

Audit Risk Assessment AI Assessments 52

PYMNTS

SEPTEMBER 19, 2017

But nimble FinTechs have been able to move much faster to address that compared to their lumbering legacy competitors, and that has often left traditional banks to watch as merchants turned to the FinTechs instead. The merchant has to demonstrate why they need the terminal and submit to a risk assessment process.

Point-of-Sale (POS) 70

Point-of-Sale (POS) Risk Assessment FinTech Assessments 70

Fintech News

MARCH 20, 2024

The banking industry stands at the brink of a major transformation, driven by rapid technological advancements and changing customer expectations in a dynamic digital landscape. These technologies automate routine banking operations, from customer service to compliance checks, reducing manual interventions and the potential for human error.

Cybersecurity 111

Cybersecurity On-Demand Database Automation 111

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. Addressing these risks necessitates robust security measures, encryption, access controls, and breach response plans.

Privacy 130

Privacy Compliance Legal Best Practices 130

Seon

MARCH 20, 2024

The digital frontier is poised for exponential growth as advanced technologies reshape our world with innovation, convenience and efficiency. trillion annually, reflecting a 56% increase over the past decade, the urgency to address digital fraud has never been more acute. for financial service firms and banks. With over 1.4

Fraud Prevention 98

Fraud Prevention Assessments Phishing Mitigation 98

Nanonets

FEBRUARY 9, 2024

The ICFR offers an enhanced series of recurring and periodic oversight protocols to help ensure the company is doing the right thing consistently while also demanding an internal risk assessment look at areas of possible concern so the company can pay special attention to them between audit and reporting periods.

Audit 52

Audit Risk Assessment Assessments Procedures 52

Fintech News

JULY 4, 2024

As artificial intelligence (AI) rapidly transitions from a nascent development to a ubiquitous technology accelerating advancements across the financial landscape, far-reaching implications for central banks worldwide are quickly emerging. This is a particular concern for Asian central banks seeking to maintain technological sovereignty.

Central Bank 101

Central Bank AI Correspondent Bank Correspondent 101

Nanonets

AUGUST 1, 2023

According to a 2021 survey conducted by Forbes among finance and accounts-related executives, almost all respondents (98%) stated that their external audit firm employs advanced technology. Additionally, a significant number of executives (94%) also perceive that this technology enhances the overall client experience.

Audit 40

Audit Automation Risk Assessment Assessments 40