The Payments Association

JANUARY 29, 2025

Inadequate risk management and due diligence : Institutions faced challenges in ensuring effective customer risk profiling and due diligence, particularly for high-risk clients and correspondent banking relationships. Internal assessments categorised Nordeas overall AML risk as critical, yet systemic upgrades were not prioritised.

Financial Crimes 88

Financial Crimes Crime Due Diligence Money Laundering 88

Fintech News

JULY 4, 2024

In payments, AI-powered systems can enhance fraud detection and streamline cross-border transactions, potentially revitalising correspondent banking relationships that have dwindled due to regulatory pressures. One promising application is in ‘nowcasting’ – using real-time data to assess current economic conditions.

Central Bank 103

Central Bank AI Correspondent Bank Correspondent 103

M2P Fintech

MARCH 24, 2025

“One-click” loans become reality through instant credit assessments. Data Analytics: Making Informed Decisions Data is now the lifeblood of modern loan management, empowering lenders with insights to assess creditworthiness, predict risk, and personalize loan terms. AI is poised to revolutionize loan origination.

Payment APIs and Integration 52

Payment APIs and Integration Blockchain Regulatory Compliance Compliance 52

Fi911

DECEMBER 19, 2023

As digital banking services grow in popularity, the unfortunate byproduct is a corresponding rise in fraud. In finance, AI’s role is becoming increasingly pivotal, particularly in fraud prevention and management. This trend underscores the question: Can AI truly integrate into the financial sector effectively?

Fraud Prevention 94

Fraud Prevention Fraud Detection Point-of-Sale (POS) Online and Mobile Banking 94

PYMNTS

NOVEMBER 21, 2018

In a recent report, the Bank of England (BoE), Bank of Canada (BoC) and the Monetary Authority of Singapore (MAS) took advantage of this by presenting a collaborative assessment of key opportunities for cross-border payments, including how corporate payments might be improved.

Authorization 49

Authorization Cross-Border Payments Correspondent Bank Cross-Border 49

Seon

MARCH 20, 2024

However, this expansion brings a corresponding need to evolve fraud prevention strategies to keep pace with advancing threats. Digital Footprinting as a Critical Assessment Tool As businesses bleed five percent of their annual revenues to fraud, the imperative to reassess and fortify their fraud prevention strategies mounts.

Fraud Prevention 98

Fraud Prevention Assessments Phishing Mitigation 98

The Fintech Times

MAY 16, 2024

NAO has revealed that in theory, this would be very effective as it would cut costs servicing telephone calls and correspondence. However, it is not clear how far and fast digital will reduce demand for telephone and correspondence services. It would also free up staff to serve people who need extra support.

Correspondent 59

Correspondent Small Business Audit Assessments 59

VISTA InfoSec

APRIL 3, 2024

Encryption is a vital safeguard that transforms data into a format that is unintelligible without the corresponding decryption key. For businesses around the world, the journey towards robust cybersecurity is a continuous endeavor that requires vigilance, adaptation, and the commitment to continually assess and refine security practices.

Cybersecurity 130

Cybersecurity Encryption Breach Phishing 130

FICO

FEBRUARY 15, 2021

Making FICO Siron the automated system for monitoring suspicious activity in transactions related to correspondent banking services. Working with FICO and its partner Printec , Eurobank took this opportunity to establish more comprehensive KYC and AML processes as well as mitigate risks related with correspondent banking.

Money Laundering 52

Money Laundering Regulatory Compliance Correspondent Bank AML 52

EBizCharge

JANUARY 16, 2025

Fraud detection and risk assessment: MCCs assist fraud detection and risk assessment operations by flagging suspicious transactions. Cross-reference with MCC directories: You can verify your MCC by referencing MCC directories, which list codes and their corresponding business types.

Credit Cards 52

Credit Cards Processors PCI DSS Fraud Detection 52

FICO

OCTOBER 4, 2016

CRA regulations provide various methods of evaluating bank performance, corresponding to differences in institutions’ asset sizes, structures and operations. After a thorough assessment of the institution, bank examiners assign a CRA rating and issue a public performance evaluation.

Federal Reserve 74

Federal Reserve OCC FDIC Correspondent 74

Stax

JANUARY 21, 2025

Before committing to a payment gateway or requesting a quote, assess how much money you receive regularly. Once youve established your criteria, create a comparison matrix where one row represents a payment gateway and each column corresponds to a criterion. Now, you have a shortlist of payment gateways that meet your needs best.

Payment Gateways 88

Payment Gateways Gateways PCI DSS Payment APIs and Integration 88

Nanonets

APRIL 24, 2024

Bank reconciliation typically involves gathering bank statements and transaction records, comparing them with the corresponding entries in the company's accounting records, and investigating any discrepancies. They assess the adequacy and accuracy of documentation to support the integrity of financial records.

Reconciliation 52

Reconciliation Audit Procedures Correspondent 52

Fi911

JUNE 18, 2024

Case Reports : Summarized details of the dispute, encompassing all relevant data, correspondence, and decisions made throughout the process. The process typically begins with an assessment of the bank’s existing infrastructure to ensure compatibility with the Visa Resolve Online system.

Disputes 83

Disputes Issuers Acquirers Compliance 83

Nanonets

MAY 21, 2024

Review Sales Transactions: Compare the sales transactions recorded in the accounts receivable ledger with the corresponding sales invoices or sales orders. Ensure that each payment is correctly applied to the corresponding customer account and invoice.

Reconciliation 52

Reconciliation Accounts Adjustments Correspondent 52

Nanonets

NOVEMBER 25, 2024

Below are the steps and components we will follow: Generate a  custom dataset  of Wingdings font images paired with their corresponding labels in English words. The process involves generating images of words in the Wingdings font and mapping them to their corresponding English words. imshow(img) axes[idx].set_title(f"Label:

Correspondent 40

Correspondent Processors Returns Process 40

PYMNTS

AUGUST 17, 2016

“We only assessed different options, including the legal [option],” Saha said on Tuesday. “We were assessing options, and we prefer cooperation,” he said. “We look forward to cooperation both from the Fed and SWIFT.”

Fed 40

Fed SWIFT Central Bank Correspondent Bank 40

Faster Payments Council

MARCH 15, 2023

Panelists will provider perspectives on correspondent banking strategies. As global markets become more accessible, legacy providers and innovators continue to target frictions to offer better cross-border payments options.

FPC 88

FPC ISO 20022 Cross-Border Payments Federal Reserve 88

FICO

NOVEMBER 1, 2017

With all the hype around artificial intelligence, many of our customers are asking for some proof that AI can get them better results in areas where other kinds of analytics are already in use, such as credit risk assessment. With 25 years of experience with AI and machine learning under our belt, we can certainly provide that proof.

Credit Risk 71

Credit Risk Risk AI Assessments 71

Neopay

AUGUST 22, 2024

The report assesses payment fraud reported by the industry across the European Economic Areas (EEA), which amounted to €4.3bn in 2022 and €2.0bn in the first half of 2023. The European Banking Authority (EBA) and the European Central Bank (ECB) published a joint Report on payment fraud data.

Central Bank 52

Central Bank Volume Payments Authorization 52

Global Fintech & Digital Assets

DECEMBER 11, 2023

Covered financial institutions now face heightened expectations in relation to cybersecurity governance, risk assessment, and incident reporting. Risk assessments should also be reviewed whenever a new business model is adopted or a new product is introduced.

Cybersecurity 59

Cybersecurity Multifactor Authentication Risk Assessment MFA 59

PYMNTS

JULY 8, 2016

In the release of its first Cyber Crime Assessment report on Thursday (July 7), the U.K.’s It looks like the use of profitable malware fraud attacks is helping cybercriminals to remain one step ahead of authorities. s National Crime Agency (NCA) said that police and businesses are losing the “cyber arms race” to these sophisticated criminals.

Crime 41

Crime Correspondent Assessments Authorization 41

PYMNTS

SEPTEMBER 14, 2020

The pandemic could be encouraging these unwarranted disputes, too, as the uptick in card-not-present (CNP) transactions from consumers shopping online leads to a corresponding rise in CNP fraud claims. Keeping retailers and consumers satisfied thus requires quickly and accurately assessing chargeback filings. Combining Friendly Fraud.

AI 70

AI Disputes Push-to-Card Acquirers 70

FICO

MARCH 23, 2021

In our experience, we typically see that the breakdown is being driven by risk tolerance and discomfort from two basic kinds of risks: (1) authentication fraud prevention (2) credit risk assessment. Does the friction in your digital channel correspond to the perceived risk level of the transaction / application?

Risk Assessment 52

Risk Assessment Duplicate Fraud Prevention Risk 52

Nanonets

APRIL 4, 2023

Put simply, mailroom automation is the process of automating incoming mail (both physical and digital) and other correspondence by transforming it into structured business data that is then sent to the relevant individuals or fed into processes and systems within your organization. What is mailroom automation? G2 Score: 4.3/5

Automation 52

Automation Correspondent Process Fed 52

EBizCharge

JUNE 25, 2024

Financial accuracy also saves business owners from errors during tax season or when assessing the financial viability of new projects or investments. Ease of reporting: It simplifies gathering data for financial reporting, which is crucial for assessing the business’s financial health.

Reconciliation 52

Reconciliation Automation Correspondent Transactions 52

FloQast

NOVEMBER 21, 2023

There are 3 CPD categories, each with a corresponding minimum amount of hours.The different categories cover a range of accountancy positions, roles, and responsibilities, but those involving the most complex work will typically fall within Category 1, with less complex work covered by Category 2 and Category 3.

Professional Development 52

Professional Development Rules Assessments Accounts 52

PYMNTS

APRIL 2, 2019

Apparently,” the article stated, “no one checked first to see if these corresponded to invoices/POs that had been issued within the companies.”. Perhaps the most important is to identify and assess the firm’s unique “ spend culture, ” as he described it. In the world of procurement spend management, data is undoubtedly key.

Email Compromise 59

Email Compromise Scams Correspondent Phishing 59

Neopay

JANUARY 25, 2024

It also introduced new provisions in Article 19b to Directive (EU) 2015/849, mandating the EBA to clarify the due diligence requirements CASPs should apply in high ML/TF risk situations, and when entering into correspondent relationships with respondents that are CASPs from non-EU countries.

Service Provider 52

Service Provider Risk Due Diligence Money Laundering 52

BNG Payments

JANUARY 2, 2022

Tiered pricing merchant accounts allow you to choose from three or more tiers with corresponding card swipe fees: the higher your average monthly volume, the lower your rate for each interchange category. How Does It Work? Fees for Assessment: Next is assessment fees, charged by both Visa and MasterCard.

Credit Cards 52

Credit Cards Accounts Volume Processors 52

PYMNTS

AUGUST 4, 2016

It’s bringing a new level of accuracy and insight into a business’ financial health, and they’re certainly benefiting from faster and smarter assessment procedures.” . “This is transforming the credit risk analysis process. That’s because bank underwriting processes are outdated, Rabie said.

Small Business 40

Small Business Underwriting Regulations Assessments 40

Seon

SEPTEMBER 20, 2023

Onboarding ensures the KYC process is worthwhile and well-informed by verifying the identity of prospective customers and assessing their risk level. Assess the screening results to determine whether the PII and the individual are eligible to pass the KYC onboarding stage and progress to the KYC process.

Process 52

Process Due Diligence AML Verification 52

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

PYMNTS

NOVEMBER 4, 2019

Specialists designate significant efforts to matching incoming payments with corresponding customer data, a process known as “cash application” that can be especially tricky for humans if customers pay multiple invoices at once. Even customers who pay on time can complicate AR teams’ operations.

Automation 40

Automation Technology Accounts Disputes 40

FICO

MARCH 18, 2020

MLSC uses the quantiles of the input variables to establish the corresponding thresholds of each variable distribution to distinguish outliers. MLSC iteratively adapts to migratory trends in consumer spending patterns in rea -time, to accurately assess if a prepaid transaction is fraudulent. You made it! by Scott Zoldi.

Fraud Detection 52

Fraud Detection ATM Payroll Non-Bank 52

PYMNTS

OCTOBER 21, 2019

The Vitamin Shoppe, for instance, recently rolled out Only Me, a personalized online assessment that provides a custom assortment of supplements and vitamins to subscribers on a monthly basis. They can then select their delivery preferences and corresponding smart lock device installations.

Innovation 43

Innovation Debit Card Payments Assessments 43

EBizCharge

MAY 3, 2024

The formula looks like this: Average Accounts Receivable = (Beginning Accounts Receivable + Ending Accounts Receivable) / 2 It’s essential that the selected time frame for the beginning and ending accounts receivable corresponds to the period for which you want to calculate the average collection period.

Accounts 52

Accounts Assessments Automation Adjustments 52