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 11, 2018

HP is deploying a Device-as-a-Service (DaaS) offering to enhance corporate customers’ risk management and IT security, the company said Tuesday (April 10). The joint solution will link clients with cybersecurity assessments and offer customers access to Aon’s cyber-insurance solution and incident response services.

Risk 43

Risk Cybersecurity Risk Management Risk Assessment 43

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. To demonstrate financial adequacy, firms should consider the following: Capital Planning: Develop a robust capital planning strategy that takes into account potential risks and contingencies.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

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. Asking the Right Questions.

Mitigation 60

Mitigation Risk Mitigation Treasury Risk 60

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

The Fintech Times

AUGUST 30, 2024

After successfully onboarding a new customer, businesses can use this feature to re-verify the customer’s identity at any point in the customer lifecycle. This ongoing due diligence process is crucial to ensure that businesses continue to meet know your customer (KYC) regulatory requirements.

Authentication 64

Authentication Due Diligence Verification Compliance 64

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

The Payments Association

OCTOBER 11, 2024

These audits will assess whether the firm’s systems and controls are adequate to prevent safeguarding failures, which is essential for reducing risks to consumer funds and building trust within the payment sector. Gladius Assurance Principal Dennis Cheng tells Payments Intelligence that this presents an opportunity to “systemise”.

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

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

FICO

MAY 18, 2020

Organisations are having to assess how much impaired debt they can afford to hold and how they manage out that which they need to release, since a substantial proportion of the held impairment will be on paying accounts. . Macro and micro economic data. Industry sector data. Regulator Help and Expectations. by Bruce Curry.

Regulations 52

Regulations Credit Risk Push-to-Card Risk 52

FICO

MARCH 25, 2020

For example, BaFIN (the Federal Financial Supervisory Authority in Germany) is offering some freedom in their assessment of capital requirements. Business Continuity Planning. Most C&R operations have high volumes of staff across tightly knit teams.

Risk 40

Risk Best Practices Data Security Governance 40

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

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

Fintech Labs Insights

AUGUST 22, 2024

Stratyfy: Raised $12M, decision intelligence technology gaining traction, particularly in risk management. Spring 2022 (San Francisco): Array: Credit and identity management platform, seeing increased adoption due to robust features and user-friendly interface. Stratos (acquired by Ciright): Raised $8.1M

Online and Mobile Banking 15

Online and Mobile Banking Acquirers Payment APIs and Integration AI 15

Segpay

MARCH 20, 2024

Risk Management and Compliance AI is crucial in risk management and regulatory compliance within the banking industry. Transactions are monitored automatically, and changes in risk profiles are detected in real-time.

AI 111

AI Privacy Non-Bank Fraud Detection 111

The Payments Association

DECEMBER 9, 2024

Financial institutions must align with UK and EU regulations by 2025, implementing unified compliance frameworks, advanced risk management, and real-time monitoring tools. The significance of this is not understated, with 47% of businesses reporting greater difficulty attracting new customers as a consequence of cyberattacks this year.

Rules 88

Rules Compliance Risk Management Regulations 88

The Payments Association

MARCH 20, 2025

Resources will be able to more rapidly assess changes and provide impact analysis on regulatory or, more importantly, innovate changes. The second pillar, cybersecurity and risk management, has become increasingly complex as cybercriminals exploit the rise of digital payments and remote working.

Compliance 88

Compliance Disaster Recovery Regulatory Compliance Risk 88

The Payments Association

JANUARY 27, 2025

The FCA has issued guidance setting out a non-exhaustive list of factors that a firm should consider in assessing whether a service is an important business service for these purposes. The FCA noted that firms should use these observations to review their proposed approach to compliance and assess their readiness.

Rules 88

Rules Assessments Procedures Compliance 88

EBizCharge

MARCH 21, 2025

Accounting practices include preparing financial statements, reconciling bank statements, and managing accounts receivable (AR) and payable (AP). These practices are fundamental for making informed decisions, tracking business performance, and ensuring transparency. However, human judgement is still a crucial element of accounting.

AI 52

AI Accounts Fraud Detection Audit 52