The Fintech Times

MAY 6, 2024

A new report from KARM Legal Consultants, the emerging technologies-focused law firm, provides insightful analysis into how the regulatory environments of the United Arab Emirates (UAE), Kingdom of Saudi Arabia (KSA), Bahrain and Turkey compared to one another as well as to the EU and UK.

Innovation 64

Innovation FinTech BNPL Regulations 64

Nanonets

SEPTEMBER 14, 2023

From legal contracts to healthcare records and beyond, the applications of signature identification are as diverse as they are impactful. However, in many cases, documents, contracts, forms, and agreements may also include signatures that are important for various legal, administrative, or authentication purposes.

Legal 52

Legal Authentication Disputes Verification 52

Nanonets

NOVEMBER 14, 2023

It is used when there is a pre-established contract or agreement with the supplier regarding the price of the goods. Rules for Self-invoicing The adoption of self-invoicing entails adherence to a set of rules to ensure a smooth and compliant financial processes: Legal Validity: Every self-billing agreement must stand on solid legal ground.

Agreements 52

Agreements Compliance Disputes Legal 52

FICO

OCTOBER 26, 2017

This process was completed in February 2014 with an agreement on a common reporting format between IRS and OECD (Organization for Economic Co-operation and Development), FATCA reporting Form 8966. This process has to be audit-proof. The approach is based on bi-lateral agreements between two countries.

Compliance 53

Compliance IRS Agreements Audit 53

Segpay

JANUARY 26, 2024

A - Audit Your Affiliates It only takes one bad merchant to take down an entire payment processor or bank, so knowing who you work with is essential. The agency’s sample agreement with the content creator would be good to have in your own file. Want to learn more?

Best Practices 82

Best Practices Push-to-Card Processors Due Diligence 82

Nanonets

NOVEMBER 27, 2023

  Both serve critical functions, including documentation management, budget control, and audit-proofing your business’ financial functions.  You also need to maintain accurate expense records for your financial management systems in case the IRS comes knocking for an audit.   What is a Purchase Requisition?

Audit 52

Audit Accounts Legal Due Diligence 52

CB Insights

MARCH 21, 2018

Insurance companies and startups working with blockchain technology will have to overcome significant regulatory and legal hurdles before we see anything resembling industry-wide disruption. It’s too early to tell whether blockchain can overcome the legal and regulatory hurdles to become a default standard in the insurance industry.

Blockchain 78

Blockchain Audit Process Risk 78

Open Banking Excellence

SEPTEMBER 21, 2023

Thanks to the harmonised legal requirements which we adopted today, our financial sector will be better able to continue to function at all times.” “Banks and other companies which provide financial services in Europe already have plans in place for their IT security, but we need to go one step further.

FinTech 130

FinTech Compliance Regulations Non-Bank 130

CB Insights

FEBRUARY 21, 2019

For example, a real estate property’s digital identity could consolidate information such as vacancy, tenant profile, financial and legal status, and performance metrics. The intended goal is a reduction in legal, accounting, and transaction costs, as well as a decreased risk of fraud and corruption. Source: Midasium.

Blockchain 78

Blockchain Due Diligence Legal Transactions 78

Nanonets

MAY 29, 2024

Purchase orders (PO) are legal documents that are drawn to finalize contracts between a buyer and a supplier. Today, Compliance and Audit Trail : Small businesses are often subject to audits and regulatory requirements. This transparency can be crucial during audits, providing clear evidence of financial transactions.

Small Business 52

Small Business Audit Automation Disputes 52

PYMNTS

SEPTEMBER 21, 2020

Legal observers think the commission won’t challenge the ruling given that the court strongly rejected the EU’s contentions. We will spare no effort to reach agreement in the framework of OECD and G20,” she said. “We haven’t taken that decision yet,” Vestager said, as per The Irish Times. “As

Compliance 58

Compliance Rules Regulations Agreements 58

The Fintech Times

SEPTEMBER 4, 2024

“Renegotiating contracts and updating service-level agreements (SLAs) within tight deadlines adds to this burden. In response, compliance teams must integrate sophisticated risk management across supply networks and third-party relationships. Regular resilience testing and reporting further strain resources.

Compliance 64

Compliance Rules Regulations Cybersecurity 64

PYMNTS

MARCH 27, 2019

this week said that the company did not provide adequate notice to its supplier base when it decided to de-list certain products in its stores, and did not provide proper notice to changes in unilateral supply agreements related to two specific charges related to depot quality control. An announcement in Gov.uk

Risk 56

Risk Compliance Payments Governance 56

The Fintech Times

DECEMBER 14, 2024

This strategic agreement reinforces the mutual commitment to fostering connections, particularly in the areas of international development and industry promotion, further advancing the growth of Beijing Financial Street and ADGM.

AI 64

AI Regulations Finance Cross-Border 64

Nanonets

SEPTEMBER 21, 2023

It is a legally binding contract that communicates the buyer's intent to purchase. Key Takeaways: A purchase order is a legally binding contract issued by the buyer to outline the products or services needed. While both documents contain similar information, they serve different purposes in the purchasing process.

Disputes 52

Disputes Legal Procedures Facilitators 52

Clearly Payments

JANUARY 8, 2024

Regular Security Audits and Vulnerability Assessments Conducting regular security audits and vulnerability assessments is essential to identify and address potential weaknesses in the system. The revelation of the breach not only posed significant financial and legal risks for Equifax but also triggered a severe reputational crisis.

Risk Management 68

Risk Management Risk PCI DSS Process 68

Segpay

OCTOBER 4, 2023

Affiliate marketing is often considered high-risk from a compliance perspective due to several factors that can increase the likelihood of regulatory and legal issues. Such practices can lead to legal and regulatory challenges, particularly if consumers are harmed or misled. Non-compliance can result in fines and legal action.

Security 52

Security Due Diligence Compliance Payments 52

Nanonets

SEPTEMBER 21, 2023

Unlike purchase orders and receipts, invoices specifically request payment and serve multiple purposes, including record-keeping, accounting, tax documentation, and legal protection. In addition to aiding in financial transactions, invoices are an integral part of  accounting internal controls  and  audits.

Audit 40

Audit Legal Accounts Transactions 40

Nanonets

APRIL 30, 2024

Legal - Automating the extraction of data from legal documents, contracts, and case files to streamline case preparation and review: Contract Management: Extracting key clauses, terms, and obligations from legal contracts, agreements, and court documents to automate contract review, analysis, and compliance monitoring.

AI 52

AI Due Diligence Automation Use Case 52

The Fintech Times

JANUARY 5, 2024

Steps have already been made following the 2023 AI Safety Summit, with a “landmark” cross-governmental agreement to test future AI models of some of the world’s biggest tech firms prior to release. As generative AI becomes more powerful, it will be crucial to develop ethical guidelines and legal frameworks to govern its use.”

AI 75

AI Database Financial Crimes Compliance 75

PYMNTS

OCTOBER 28, 2019

The Big Four auditing firms — EY, Deloitte, KPMG and PwC — have recently requested that the Financial Accounting Standards Board (FASB) provide clarity in how corporates should classify their reverse factoring or supply chain financing agreements, adding more fuel to a long-standing debate as to whether such trade financing tools are debt.

B2B 40

B2B Payments Small Business Finance 40

PYMNTS

SEPTEMBER 5, 2019

Such a levy was not legal until last year’s South Dakota v. The Supreme Court’s decision granted states the option of demanding sales tax collection from online, out-of-state vendors, though the states are not in complete agreement over policy details, implementation deadlines and other factors.

Compliance 46

Compliance Laws Rules Governance 46

Nanonets

FEBRUARY 15, 2024

Documentation: Negotiations result in a Supply Agreement , which outlines the terms of the purchase, including pricing, delivery schedule, payment terms, warranty, and penalties for non-compliance. The Supply Agreement would look like the one below. Time is of the essence in this Agreement.

Finance 52

Finance RFP Agreements Automation 52

Nanonets

SEPTEMBER 23, 2023

They ensure that an audit trail exists for every transaction, which can be used to demonstrate accountability and transparency. Additionally, they serve as a legal agreement between the supplier and the organization, ensuring that goods and services are delivered according to the agreed terms and conditions.

Process 52

Process Best Practices Compliance Procedures 52

PYMNTS

JULY 19, 2018

The bank needs to trust that the FinTech that is on the receiving end of the information is able to secure and utilize that Big Data for specific purposes as outlined in the agreement. There are other more tactical ways to embed trust,” added Epperson, “whether it’s through contractual agreements on defining roles or responsibilities.

Risk 42

Risk FinTech Risk Management Privacy 42

Nanonets

FEBRUARY 6, 2024

This process is critical for audit, taxation, and legal compliance. • Security & Compliance: Companies can be legally constrained not to share any form of confidential statements with third parties. " The supporting document would be the loan agreement or the loan disbursement payment records.

Reconciliation 52

Reconciliation Adjustments Automation Transactions 52

Nanonets

JUNE 12, 2024

Record Keeping: Maintaining accurate records of all purchases and documenting every process in the procurement cycle is very important for reconciliation, auditing and fraud detection. Order Placement and Follow-Up Reliable suppliers must be selected and agreements in place. After final approval, the PO is sent to the supplier.

Best Practices 52

Best Practices Automation Small Business Process 52

Stax

AUGUST 20, 2024

They also need to have data-sharing agreements in place to address data-handling issues. Not doing so can lead to legal issues and could taint your brand reputation. It’s also important to define the roles and responsibilities of all parties.

Embedded Finance 88

Embedded Finance Finance FinTech Payment APIs and Integration 88

Nanonets

SEPTEMBER 25, 2024

  Bank statement processing is essential for accurate reconciliation , auditing, and financial reporting. Maintain an efficient audit trail for future retrieval. Monitor and review Regularly auditing data quality is vital for maintaining accuracy and compliance. Ensure all statements are properly scanned and readable.

AI 52

AI Process Best Practices Reconciliation 52

Nanonets

MARCH 14, 2024

Purchase order (PO) is a legally binding agreement issued by the purchaser to the vendor, informing of the type of product/service ordered and the quantity and prices agreed upon. Invoice is a legally binding document that is issued by the vendor to the purchaser along with or after the delivery of the product/service to the customer.

Payment APIs and Integration 52

Payment APIs and Integration Automation Correspondent Checks 52

Nanonets

JUNE 12, 2023

This means an HR firm could easily locate specific information within thousands of resumes, contract agreements, or employee records stored on OneDrive without going through each file manually. By digitizing documents through OCR, an audit trail is created, making it easier to demonstrate compliance with records retention laws.

Automation 52

Automation Compliance Record Retention Process 52

Nanonets

MARCH 20, 2023

 The AP maintains records of all financial aspects of purchases made by the company, which is crucial for auditing and tax purposes. The Accounts Payable process encompasses almost all payments (except payroll) made by a business for goods and services.  The

Process 52

Process Accounts Automation Checks 52

Nanonets

SEPTEMBER 22, 2023

Prior to entering into contractual agreements, conducting initial risk assessments is crucial to understand potential risks associated with the vendors. Another method is to conduct site visits or audits of potential vendors' facilities. Seek legal guidance to ensure contract compliance 4.

Risk Mitigation 40

Risk Mitigation Mitigation Risk Assessment Assessments 40

Nanonets

JANUARY 18, 2024

A purchase order (PO) is a legally binding agreement issued by the purchaser to the vendor, informing of the type of product/service ordered and the quantity and prices agreed upon. It serves as a legal offer to buy, which becomes a binding contract once the seller accepts it. What is a Purchase Order?

Automation 52

Automation Process CRM Accounts 52

Nanonets

JULY 24, 2023

Gartner defines finance reconciliation as “the process of comparing two sets of financial records to ensure they are in agreement.” For publicly traded companies, account reconciliation is not just a good practice—it is a legal requirement. What is finance reconciliation?

Reconciliation 52

Reconciliation Finance Duplicate Accounts 52

Stax

NOVEMBER 21, 2024

This is more feasible when you process large volumes of transactions, and if you don’t, you can reach an agreement on how your transaction fees may reduce over time as your volume increases. CardX is the industry-leading surcharging solution and its services are available in all 48 states where surcharging is legally allowed.

Credit Cards 88

Credit Cards Small Business Process Credit Card Payment Processing 88

Nanonets

NOVEMBER 19, 2023

Whether it's tax season or a routine audit, you can confidently share your records, knowing they reflect the actual state of your business's finances. Different types of invoice settlements may apply depending on the specific circumstances and terms of the agreement.

Settlement 52

Settlement Disputes Payment APIs and Integration Accounts 52