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

Fintech News

FEBRUARY 14, 2024

The trade finance industry has been aspiring for greater digitalisation, striving to tap into potential benefits such as improved transparency, efficiency, risk mitigation and support for small and medium-sized enterprises (SMEs).

Finance 99

Finance Distributed Ledger Technology (DLT) Payment APIs and Integration Legal Framework 99

Neopay

MARCH 4, 2024

Neopay’s suite of services encompasses regulatory compliance, risk assessment, training, and ongoing support, enabling firms to stay abreast of evolving regulatory landscape and proactively address compliance challenges.

Compliance 52

Compliance Mitigation Risk Mitigation Regulatory Compliance 52

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

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. Last week, the company announced a $30 million fundraise as it works to address this issue.

Risk Mitigation 76

Risk Mitigation Security Data Breach FinTech 76

Nanonets

SEPTEMBER 22, 2023

Effective  vendor management  contributes to cost optimization,  risk mitigation , and quality assurance.   Risk mitigation : Thorough   vendor evaluation   and ongoing monitoring can minimize the risks associated with disruptions, delays, or subpar product or service quality.

Risk Mitigation 40

Risk Mitigation Mitigation Risk Assessment Assessments 40

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

JANUARY 22, 2019

Crowe is addressing this friction with the rollout of its Crowe Automated Reconciliation for Healthcare tool, providing hospitals a three-way match solution between their general ledgers, patient accounting systems and banking providers. Hospitals can often struggle to manually reconcile cash flow coming from multiple sources.

Cash Management 73

Cash Management Reconciliation Risk Mitigation Automation 73

PYMNTS

SEPTEMBER 11, 2018

According to Jay Wissema, director of business development at cross-border payment solutions provider Volopa, recent events in the global markets have heightened awareness of the importance of foreign exchange volatility risk mitigation. Part of SMBs efforts’ to address a volatile market should be FX risk mitigation.

Cross-Border Payments 40

Cross-Border Payments Risk Mitigation Cross-Border Mitigation 40

Stax

JANUARY 8, 2024

This includes their name, date of birth, address, identity documents, etc. Final Words Risks are a persistent factor for PayFacs and can be a cause for serious losses for the entire payment ecosystem. However, to implement an effective AML system, it is important to have effective KYC controls in place.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

The Fintech Times

MAY 25, 2024

We anticipate greater expectations around risk mitigation and security capabilities, meaning security is paramount and must be a top priority for ETF managers.” There are also concerning centralisation risks in the current Ethereum staking landscape that need addressing. appeared first on The Fintech Times.

Bitcoin 72

Bitcoin Cryptocurrency On-Demand Risk 72

The Fintech Times

JUNE 3, 2024

Together, these cross-silo voices must help design a tailored strategy to enhance productivity and address specific challenges, fostering a sense of collective ownership and contribution. Step 4: Risk mitigation Business value stems from genAI and LLMs being baked into the technological fabric of a given financial service.

AI 69

AI Risk Mitigation Assessments Consulting 69

PYMNTS

NOVEMBER 10, 2017

Alternative small business lender Ultimate Finance is adding a new product to its offering built on Big Data and risk mitigation technologies. Purchase Finance addresses this by enabling businesses to pay their suppliers directly, using a funding line from Ultimate Finance, who can pay the supplier directly.”.

Finance 40

Finance Risk Mitigation Mitigation B2B 40

PYMNTS

APRIL 9, 2019

. “But they’ve probably grown up separately because, traditionally, banks have looked at one as a financing opportunity or corporates looked at one as a monetization opportunity, and the other is pure risk mitigation. But I think, for a number of reasons, you start to see the two go more hand in hand.”

Finance 63

Finance Risk Mitigation Underwriting Mitigation 63

PYMNTS

JULY 24, 2020

So it’s not exactly surprising that supply chain risk mitigation efforts can fall by the wayside. Yet this use of external products and services further expands the so-called “attack surface” that exposes a company to an array of risks. ”

Risk 70

Risk Due Diligence Risk Mitigation Mitigation 70

The Finance Weekly

OCTOBER 15, 2023

CFO Uncertainties Using AI in financial operations comes with certain risks, which include: Data Security and Privacy: , Protect financial data through strong security measures to maintain trust and comply with regulations. Focus on increasing revenue first, as it's easier to measure, then focus on cost reduction and risk mitigation.

AI 52

AI Risk Automation Data Security 52

Clearly Payments

FEBRUARY 3, 2024

Risk Mitigation: Since BNPL providers assume the risk of non-payment, merchants are protected from default or chargeback issues, reducing their financial exposure. Provide responsive customer support to address inquiries promptly and nurture positive brand relationships.

BNPL 104

BNPL Payments Mitigation Best Practices 104

Fi911

AUGUST 31, 2023

The Truth in Lending Act was intended to address the lack of transparency and standardization in disclosing consumer credit terms and costs. Section B: Addresses open-ended credit products. Risk Mitigation Complying with TILA reduces the risk of litigation and regulatory fines.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) Risk Mitigation Non-Bank Online and Mobile Banking 52

PYMNTS

NOVEMBER 19, 2018

With “audience,” “purpose” and “actionable” as foundations of the Playbook, the team decided on key topic areas for inclusion, including faster payments opportunities, business strategy, risk mitigation and compliance and internal impacts.

NACHA 63

NACHA Faster Payments Risk Mitigation Payments 63

Nanonets

MAY 31, 2023

This empowers finance professionals to make informed decisions about budgeting, cash flow management, investment opportunities, and risk mitigation. Communicate the benefits of AI adoption to your finance team and address any concerns or resistance well ahead of the integration.

AI 122

AI Finance Fraud Detection Automation 122

PYMNTS

MAY 2, 2019

A press release this week said Citi is collaborating with EY and SAS on its NextGen project, which will include the development of a risk analytics scoring engine that uses AI to address friction in reviewing global trade transactions. ”

Transactions 53

Transactions AI Cross-Border Risk Mitigation 53

PYMNTS

MAY 28, 2019

While the FRC is expanding its oversight, some have called for the creation of an entirely new regulator to address potential shortcomings in the auditing sector. Reports said the FRC also intends to heighten its scrutiny of auditor governance and leadership, risk mitigation processes, control and overall behavior.

Audit 40

Audit Risk Mitigation Authorization Regulations 40

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

PYMNTS

NOVEMBER 6, 2018

The tool interconnects Shell’s central treasury office to its 718 operating units to manage foreign exchange (FX) risk and volatility with its more than 200 bank partners. “Now, we can more efficiently route market requests from regional centers around the world to our central treasury.

Treasury 53

Treasury Treasury Management Risk Mitigation Blockchain 53

Segpay

OCTOBER 4, 2023

They understand the unique compliance risks associated with this industry and can provide guidance and solutions tailored to address them. Enhanced Due Diligence: High-risk PSPs often conduct thorough due diligence on their clients and affiliates instead of leaving this up to the merchants.

Security 52

Security Due Diligence Compliance Payments 52

PYMNTS

APRIL 27, 2016

But while companies explore new ways to handle this aspect of treasury, there are some mistakes treasurers make that allow FX risks to remain unseen. One of the largest sources of blind spots in the treasury department when it comes to FX risk mitigation is the use of multiple systems. Where Treasurers Go Wrong.

Risk 40

Risk Risk Mitigation Mitigation Cross-Border 40

PYMNTS

JANUARY 26, 2018

Enterprise transactions are full of friction and risk,” said CapLinked CEO Eric M. While Ripple and other decentralized technologies are addressing payments, the transfer of funds is only a small part of a B2B transaction.

Blockchain 62

Blockchain Transactions B2B API 62

PYMNTS

OCTOBER 8, 2020

We started Retirable to address America's advice gap,” End told PYMNTS in a recent interview. But when you get into decumulation, you have to start thinking about: ‘How do I de-risk my plan and make this money last as long as possible?’ And so in this stage, a lot of the talk is about risk mitigation versus taking on risk.”. “We

AI 90

AI Social Security Risk Mitigation Risk 90

FICO

FEBRUARY 7, 2017

Cyber-readiness is increasingly a necessity for organizations, but for insurance underwriters, evaluating an organization’s cybersecurity risk and setting the appropriate insurance premium continues to be an inexact science.

Cybersecurity 51

Cybersecurity Risk Mitigation Mitigation Underwriting 51

PYMNTS

JANUARY 25, 2019

Equipment finance company CapX Partners has announced an integration of Moody’s Analytics technology to strengthen its underwriting and risk mitigation capabilities. CapX noted that Moody’s Analytics’ tool addresses the pain point of lack of access to historical data on small businesses seeking financing.

Underwriting 43

Underwriting Small Business Risk Mitigation Underserved 43

PYMNTS

SEPTEMBER 7, 2018

Investors this week placed more than $447 million in B2B FinTech startups, with the biggest investment rounds landing at companies that address more than one point of friction. The company had previously raised pre-seed and seed funding, and, according to reports, is set to close an additional investment round to the tune of $2.5 million.

Finance 46

Finance Risk Mitigation Underwriting B2B 46

PYMNTS

NOVEMBER 2, 2016

InAuth, the device authentication and intelligence company, and Early Warning, the real-time payments, authentication and risk mitigation company, announced Tuesday (Nov. The network addresses security concerns, interoperability problems and delays in funds availability common in today’s P2P services.

Zelle 62

Zelle Real Time Payments Authentication Risk Mitigation 62

The Fintech Times

MARCH 18, 2024

This system addresses a range of security challenges, including on-chain phishing and fraud, through comprehensive measures such as risk token detection, contract analysis, and more. Additionally, Bitget Wallet benefits from a shared $300million risk protection fund with Bitget, bolstering its risk mitigation capabilities.

NFTs 64

NFTs Participant Risk Mitigation Transactions 64

FICO

SEPTEMBER 16, 2020

In fact, 20 percent of respondents picked this as their principal obstacle in meeting financial crime risk mitigation targets. We can see that addressing the competing needs of regulatory compliance and customer experience remains a balancing act for most institutions.

Money Laundering 52

Money Laundering Financial Crimes AI APACS 52

FICO

FEBRUARY 20, 2017

Cyber-readiness is increasingly a necessity for organizations, but for insurance underwriters, evaluating an organization’s cybersecurity risk and setting the appropriate insurance premium continues to be an inexact science.

Cybersecurity 40

Cybersecurity Risk Mitigation Mitigation Assessments 40

PYMNTS

APRIL 18, 2018

In the age of data breaches , there’s a lot of talk and tools emerging in the fraud prevention and risk mitigation spaces, but many merchants are overlooking one of the most damaging types of fraud: the kind that is carried out not by criminals, but by the merchant’s own trusted customers.

Due Diligence 40

Due Diligence Disputes Data Breach Fraud Prevention 40

PYMNTS

SEPTEMBER 21, 2019

In this context, the House Financial Services Committee’s Task Force on Artificial Intelligence met earlier this month to discuss the rising threat of small business cyberattacks, the role of technology in combatting it, and the potential for regulation to address security risks.

Data Breach 80

Data Breach Breach Small Business Business Email Compromise 80