Stax

AUGUST 22, 2024

TL;DR Payment facilitators remove the need for businesses to open merchant accounts of their own to accept payments. PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. On the other hand, this exposes PayFacs to greater potential risks.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

PYMNTS

JUNE 25, 2020

With the global pandemic tossing many organizations into a digitization crash-course, business continuity has remained top of mind for the C-suite. It will continue to be a focus, too, as businesses gradually reopen and as employees begin to return to the office. Mitigating Risk. Asking the Right Questions.

Mitigation 60

Mitigation Risk Mitigation Treasury Risk 60

Nanonets

DECEMBER 13, 2023

#1: Increased Accuracy and Reduced Errors AI in insurance claims processing plays a pivotal role in enhancing accuracy and reducing errors by automating various tasks and mitigating the risks associated with manual processes. In addition, AI employs predictive analytics to assess and analyze historical claims data.

AI 102

AI Process Fraud Detection Compliance 102

Segpay

MAY 1, 2024

This framework will have significant implications for global PSPs with clients in Europe, as it will require PSPs to strengthen their operational resilience capabilities, comply with regulatory requirements, and adapt their business practices to mitigate operational risks effectively.

Cybersecurity 52

Cybersecurity Compliance Procedures Risk Management 52

Open Banking Excellence

SEPTEMBER 21, 2023

Whilst DORA brings with it specific asks for financial institutions and their third-party suppliers, the concept of ensuring that business-critical operations are secure, resilient and can withstand disruption is not a new one. Testing processes should be regularly reviewed and updated to ensure continued compliance.

FinTech 130

FinTech Compliance Regulations Non-Bank 130

PYMNTS

APRIL 23, 2020

Business Continuity Is Key. Through our experience with previous black swan events and other crises, we know that a comprehensive business continuity plan should be developed and continuously evolved. This is imperative to mitigating impact.

Credit Union 63

Credit Union Credit Union Service Organization Business Continuity Fraud Detection 63

Neopay

JUNE 27, 2024

It is crucial to conduct a thorough assessment of your financial position and ensure that you meet the minimum capital requirements. 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

Center for Payments

SEPTEMBER 15, 2022

The FFIEC Guidelines require financial institutions to implement a solid business continuity management program, which includes an effective Business Continuity Plan. The past few years have taught us the importance of a solid business continuity plan.

FFIEC 40

FFIEC Risk Assessment Business Continuity Federal Reserve 40

Fintech News

MAY 20, 2024

The COVID-19 pandemic led to restrictions on physical gatherings, prompting businesses to swiftly move their marketing activities to online platforms and bringing webinars into the spotlight. Webcasting and virtual event platforms like ON24 witnessed a remarkable surge, reporting a 167% increase in webinar hosting activities.

FinTech 135

FinTech Embedded Finance BNPL AI 135

The Payments Association

OCTOBER 11, 2024

By acting now, firms can mitigate operational disruption, enhance their governance, and ensure they are better equipped to protect consumers in an increasingly complex payment landscape. Firms should follow best practices, such as enhanced due diligence, to mitigate risks associated with third-party providers.”

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

Global Fintech & Digital Assets

DECEMBER 11, 2023

Covered financial institutions now face heightened expectations in relation to cybersecurity governance, risk assessment, and incident reporting. Requirements related to business continuity and disaster recovery have also been included for the first time.

Cybersecurity 59

Cybersecurity Multifactor Authentication Risk Assessment MFA 59

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

By implementing  vendor management solutions , organizations can optimize their procurement process, make informed decisions based on vendor performance data, improve communication and collaboration, and mitigate risks associated with manual processes.

Automation 52

Automation Compliance Risk Process 52

Nanonets

SEPTEMBER 23, 2023

This strategy involves analyzing the organization's spend, assessing supplier capabilities, and strategically selecting suppliers based on factors such as quality, reliability, cost-effectiveness, and innovation. This objective helps to maintain business continuity and uphold customer satisfaction.

Gateways 52

Gateways RFP Value Added Service Compliance 52

EBizCharge

JUNE 4, 2024

Known for its adaptability, the platform allows businesses to tailor their functionalities to their specific industry needs and to scale up as they grow. Because it’s cloud-based, Acumatica provides real-time access to business data from any location, facilitating remote work and business continuity.

Credit Cards 52

Credit Cards Process Payment Gateways Best Practices 52

Nanonets

SEPTEMBER 29, 2023

Scalable: As your business continues to grow, manual payment management becomes increasingly challenging to scale. This enables compliance and mitigates the risk of potential security breaches. The efficiency gains, accuracy improvements, and time savings translate into improved overall productivity and cost-effectiveness.

Payments 52

Payments Reconciliation Automation ACH 52

Nanonets

FEBRUARY 28, 2024

This meticulous scrutiny significantly boosts data quality, mitigating the risks associated with basing decisions on flawed information. General Data Quality Assessments : Regular checks across an organization's systems ensure ongoing data accuracy and consistency.

Reconciliation 52

Reconciliation Process Audit Compliance 52

Nanonets

SEPTEMBER 21, 2023

In conclusion, electronic invoicing offers businesses improved permanence of records, ease of searching and sorting through digital archives, and significant reduction in paper consumption. Auditors rely on invoices to examine the financial statements of a company and assess its compliance with accounting standards.

Audit 40

Audit Legal Accounts Transactions 40

Nanonets

SEPTEMBER 21, 2023

When considering different ERP software options, it's essential to assess the scalability of the solution. Your business may experience growth in the future, so the ERP system should be able to accommodate increasing data volume and user load. Another crucial factor to consider is ease of use.

Small Business 40

Small Business Automation Risk Process 40

Segpay

MARCH 20, 2024

This proactive approach to fraud detection minimizes financial losses for banks and customers, strengthens cybersecurity posture, and mitigates data breaches and cyber-attack risks. Banks may also refuse merchants based on the type of business they run. transaction laundering).

AI 111

AI Privacy Non-Bank Fraud Detection 111

CB Insights

JUNE 17, 2020

Contact center software developer Bright Pattern is offering “special virtual call center capability” as a business-continuity service for companies seeking to maintain support operations during the pandemic.

Posting 101

Posting Technology Online and Mobile Banking On-Demand 101

The Payments Association

MARCH 20, 2025

Resilience has moved away from recovery and further towards anticipation, mitigation, and adaptability to these challenges. Resources will be able to more rapidly assess changes and provide impact analysis on regulatory or, more importantly, innovate changes. The final pillar is business continuity and incident response.

Compliance 88

Compliance Disaster Recovery Regulatory Compliance Risk 88