PYMNTS

OCTOBER 16, 2019

The latest Digital Banking Tracker brings research and expert commentary from the FinTech and consumer banking space with a focus on anti-money laundering (AML) and solutions. The Cost of Compliance. However, more than half (51 percent) characterized their AML risk assessment, specifically, as “very” or “completely” effective.

AML 49

AML Compliance Money Laundering Financial Crimes 49

FICO

FEBRUARY 15, 2021

All Digital Transactions Monitored For High-risk Behaviour. Eurobank , one of the four Greek systemic banks, now performs real-time AML (anti-money laundering) and KYC (Know Your Customer) checks, with automation across digital and remote channels resulting in substantial efficiency improvements. . New Regulatory Requirements.

Money Laundering 52

Money Laundering Regulatory Compliance Correspondent Bank AML 52

Seon

SEPTEMBER 20, 2023

KYC onboarding is crucial: It is required by AML-obligated and/or fraud prevention-focused industries. Onboarding ensures the KYC process is worthwhile and well-informed by verifying the identity of prospective customers and assessing their risk level. What Is the Relationship Between KYC Onboarding and AML?

Process 52

Process Due Diligence AML Verification 52

Seon

JUNE 24, 2024

The rise of online transactions and evolving cybercrime tactics highlight the urgent need for strong identity risk management and monitoring. Identity theft presents significant challenges to businesses, making proactive risk mitigation essential for regulatory compliance, trust, asset protection, and operational integrity.

Risk Management 52

Risk Management Mitigation Risk Identity Theft 52

Seon

JUNE 29, 2023

KYT is an anti-money laundering (AML) and counter-terrorist financing (CTF) requirement. As an AML and CTF operation, Know Your Transaction complements the process of Know Your Customer (KYC) by focusing on which transactions people are making, as opposed to just who is making them. KYT is a regulatory compliance requirement.

Transactions 52

Transactions Due Diligence Money Laundering AML 52

The Fintech Times

DECEMBER 28, 2023

Today our leaders address escalating challenges related to fraud and the need for businesses to take proactive measures to address these issues and maintain customer trust and regulatory compliance. In this pursuit, businesses like SEON can help companies to bolster their defences against sophisticated fraud schemes.

Fraud Prevention 81

Fraud Prevention Scams Fraud Detection Regulatory Compliance 81

Nanonets

APRIL 11, 2023

The need to minimize risk and maintain loan portfolio quality : In a volatile economic environment, lenders must carefully manage risk to protect their loan portfolios and maintain financial stability. 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

PYMNTS

SEPTEMBER 12, 2019

Financial services providers that slack on regulatory compliance and fail to safeguard their operations against money laundering, terrorist financing and other criminal activities may face damaged reputations and significant fines. Can AI Support Digital Banking’s AML Efforts? .

Suspicious Activity Report (SAR) 75

Suspicious Activity Report (SAR) FinTech Money Laundering AML 75

FICO

MARCH 24, 2021

Here are some quick tips to keep you focused on your priorities: Review Risk Assessments and adjust internal controls as needed. Maintain a strong Tone at the Top (“Culture of Compliance”). Plan for upticks in particular areas of AML compliance activity. Set clear and realistic priorities. by Claudia Huesmann.

Money Laundering 98

Money Laundering SARS Financial Crimes Fincen 98

Fintech News

JULY 4, 2024

The insurance industry stands to benefit from AI’s prowess in risk assessment and claims processing, while asset managers can leverage AI for more sophisticated portfolio allocation and algorithmic trading. One promising application is in ‘nowcasting’ – using real-time data to assess current economic conditions.

Central Bank 101

Central Bank AI Correspondent Bank Correspondent 101

Nanonets

APRIL 5, 2023

By using automation, lenders can also improve their loan processing times and reduce human error, ensuring regulatory compliance. Increased accuracy - automation can eliminate the risk of human errors in data entry and processing, resulting in more accurate customer filtering. Verify KYC/AML based on geography.

Automation 52

Automation Process Risk Assessment Assessments 52

FICO

MARCH 17, 2021

Department of Treasury report entitled the 2018 National Money Laundering Risk Assessment , identify TBML not only as one of the most used, but also as one of the most difficult to detect methods of money laundering. Efforts to Combat Trade-Based Money Laundering”. This study, together with the U.S.

Money Laundering 98

Money Laundering Crime Financial Crimes Industry Trends 98

The Fintech Times

SEPTEMBER 19, 2024

By integrating risk assessments, controls, and regulatory obligations in real-time, and within a unified framework, institutions can proactively identify and mitigate risks associated with new regulations, such as operational resilience requirements. For fraud, the focus was historically on customer identity.

Risk 59

Risk Financial Crimes AML Risk Management 59

FICO

MARCH 6, 2020

By combining advanced AML analytics in scoring processes and robotics in alert and case handling you tremendously improve efficiency and effectiveness in compliance. Our Anti-Financial Crime solutions suite consistently follows the risk-based approach according to FATF and supports the compliance process with integrated modules.

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81

Segpay

MARCH 20, 2024

Risk Management and Compliance AI is crucial in risk management and regulatory compliance within the banking industry. To mitigate the risk of algorithmic bias, banks must ensure that AI systems are trained on diverse and representative datasets and regularly monitored for fairness and transparency.

AI 110

AI Privacy Non-Bank Fraud Detection 110

Finovate

MARCH 29, 2024

“MineOS AI Asset Discovery and Risk Assessment will bridge the gap between the practical and theoretical sides of AI and data governance as companies navigate the complex new business landscape.” ” Founded in 2005, AU10TIX is headquartered in Hod Hasharon, Israel. . FRNZX was founded in January 2022.

Verification 69

Verification Privacy AI AML 69