The Fintech Times

MARCH 12, 2024

As the world grapples with the increasingly urgent need to address climate change, industries across the board are being called upon to play their part in mitigating its effects. Among these, the insurance industry stands as a critical player uniquely positioned to drive sustainable initiatives and proactively manage climate-related risks.

Mitigation 71

Mitigation Risk Underwriting Risk Assessment 71

Fintech News

MAY 29, 2024

Singapore has released an Environmental Crimes Money Laundering National Risk Assessment (NRA), highlighting the primary threats and vulnerabilities associated with it. The NRA concludes that, given the existing controls, the risk of criminals using Singapore for environmental crimes money laundering is medium-low.

Money Laundering 99

Money Laundering Crime Risk Law Enforcement 99

Fintech Review

JUNE 12, 2024

We explore the innovations in personalised insurance products, the role of IoT devices in data collection and risk assessment, and the challenges faced by established insurance companies integrating new technologies. Enhanced Risk Assessment IoT data provides insurers with a more accurate understanding of risk profiles.

Risk Assessment 96

Risk Assessment Regulatory Compliance Assessments Risk Management 96

PYMNTS

JUNE 20, 2017

But Big Data lands new capabilities in the hands of corporate treasurers and other executives that yields active, real-time assessments of risks from multiple angles, from counterparties to compliance. For fund investors, active risk management is of particular importance for treasurers, Hazeltree noted.

Risk Assessment 47

Risk Assessment Assessments Risk Risk Mitigation 47

The Fintech Times

JULY 31, 2024

“One of the most meaningful ways we protect our customers and their homes is to work with them to understand and mitigate risk,” said Rebecca L. ” With ZestyAI models, carriers are able to move from territory-based segmentation to a property-by-property risk assessment.

Risk 58

Risk AI Risk Assessment Assessments 58

Innovative Payments Association

AUGUST 29, 2024

Conduct a Risk Assessment Before building a compliance program, businesses should conduct a thorough risk assessment to identify potential compliance risks. This includes assessing the risk of money laundering, financial crime, and regulatory violations.

Cannabis Banking 52

Cannabis Banking Boot Camp Compliance Money Laundering 52

Fintech Review

MAY 7, 2024

Machine learning is particularly transformative in various fintech applications, such as personalised financial advice and risk assessment, marking a transformative shift in financial methodologies towards more advanced, data-driven approaches. It is essential to mitigate these risks to prevent potentially devastating impacts.

AI 98

AI FinTech Risk Assessment Fraud Detection 98

Fintech News

JUNE 23, 2024

Singapore has released its updated Money Laundering (ML) National Risk Assessment (NRA) , highlighting increased risks in the digital payment token (DPT) services sector. The updated assessment highlights increased risks due to economic and geopolitical shifts, as well as the rise in technology-enabled transactions.

Money Laundering 101

Money Laundering Risk Crime Law Enforcement 101

EBizCharge

NOVEMBER 12, 2024

Merchant underwriting is the process of evaluating a business’s risk before providing it with a merchant account to process electronic payments. Merchant underwriting requires a thorough assessment of a business’s potential financial risks to ensure safe and secure transactions.

Underwriting 52

Underwriting ISOs Risk Assessment Assessments 52

Fintech News

MARCH 31, 2024

This balance ensures the protection of legitimate customers’ interests while empowering FIs to effectively assess and mitigate risks associated with financial crimes. It complements the industry’s existing close collaboration with MAS and law enforcement authorities to combat financial crime.

Financial Crimes 96

Financial Crimes Crime Money Laundering Law Enforcement 96

Fintech News

DECEMBER 12, 2023

Credit rating agency S&P Global Ratings has unveiled its new stablecoin stability assessment service, designed to evaluate their capability in maintaining a stable value in comparison to traditional fiat currencies. The assessment methodology employed by S&P Global Ratings is thorough and multifaceted.

Stablecoins 109

Stablecoins Assessments Risk Assessment Risk 109

Neopay

MAY 7, 2024

The FCA aims to assist firms in understanding regulatory expectations while empowering them to assess the adequacy of their financial crime systems and controls. This includes references to the travel rule and updates to sections on risk assessment and fraud.

Financial Crimes 52

Financial Crimes Crime Risk Assessment Money Laundering 52

Neopay

MARCH 7, 2024

Risk Assessment weaknesses: Annex 1 firms have demonstrated inadequacies in conducting comprehensive Business Wide Risk Assessments and Customer Risk Assessments, leaving significant gaps in their AML frameworks.

AML 52

AML Financial Crimes Crime Risk Assessment 52

Neopay

MAY 31, 2024

To effectively manage AML/CTF risks, the FCA employed several key tools, including the REP-CRIM annual reporting obligation, which was expanded to cover more firms, and innovative data analytical tools to identify hotspots and emerging risks.

Financial Crimes 52

Financial Crimes AML Money Laundering Crime 52

EBizCharge

JULY 22, 2024

Risk Management: Businesses can also proactively assess and manage financial risks associated with marketing campaigns to avoid high-risk investments and ensure financial transparency and accountability, so expenditures align with company objectives.

Risk Assessment 52

Risk Assessment Assessments Risk Finance 52

The Fintech Times

MARCH 29, 2024

From enhancing risk assessment accuracy to personalising products and services, insurers are leveraging data analytics to optimise decision-making processes, mitigate risks and cater to evolving consumer needs. “Fraudulent claims are a key concern for every insurance company. .”

Risk Assessment 58

Risk Assessment Underwriting Assessments Risk 58

Stax

AUGUST 22, 2024

In this article, we’ll discuss what SaaS companies looking to become payment facilitators need to know about risk management strategies. PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. The due diligence doesn’t stop at onboarding.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

Finovate

FEBRUARY 15, 2024

Features Offers precision-tailored LLM specializing in financial data Delivers transparent data sourcing with detailed audit trails Provides advanced data security measures, mitigating breaches and compliance violations Who’s it for?

Due Diligence 59

Due Diligence Risk Assessment CRM AI 59

Finovate

SEPTEMBER 4, 2024

With Venminder, firms can manage vendors, track contract data, perform due diligence and oversight, send and score questionnaires, conduct risk assessments, systemically monitor risks across domains, order due diligence assessments on vendor controls, and more.

Risk Management 59

Risk Management Risk Acquirers Due Diligence 59

Fintech Finance

AUGUST 27, 2024

EURI will be available on the Ethereum and BNB Smart Chain blockchains and subject to transaction monitoring and risk assessments for fraud identification and general risk mitigation.

Stablecoins 116

Stablecoins Multi-Currency Regulations Risk Mitigation 116

The Fintech Times

APRIL 3, 2024

It also aims to identify and mitigate potential risks associated with criminal activities. COSMIC, which stands for ‘Collaborative Sharing of Money Laundering /TF Information and Cases’ serves as a centralised platform facilitating the sharing of customer information among financial institutions.

Financial Crimes 58

Financial Crimes Crime Money Laundering Law Enforcement 58

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

Stax

JANUARY 8, 2024

PayFacs need to equip themselves with an effective risk management strategy that helps them continuously monitor risks and employ appropriate risk responses if needed. So you must have risk avoidance, risk identification, and risk reduction strategies in place to combat fraudulent transactions.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

VISTA InfoSec

JULY 31, 2023

After completing all the applicable requirements and steps mentioned in the PCI DSS checklist, businesses may engage a Qualified Security Assessor (QSA) to perform a formal assessment of their compliance with the PCI DSS. If any areas of non-compliance are identified during the assessment, the QSA will report their findings to the business.

PCI DSS 130

PCI DSS Security Encryption Compliance 130

The Finance Weekly

JANUARY 9, 2022

Many investors and stakeholders are attempting to hold companies to a certain standard of emissions and mitigation efforts, or a future commitment to one. These risk assessments are no longer pushed to the back burner of what-if scenarios, but rather companies are treating these scenarios as an important aspect of forecasting.

Mitigation 52

Mitigation Regulations Laws On-Demand 52

The Fintech Times

SEPTEMBER 19, 2024

. “Risk orchestration lowers risk and boosts resilience of financial institutions by facilitating quick threat detection and response,” Kelvin Lim , senior director at the Synopsys Software Integrity Group. “Automated workflows facilitate real-time risk management, ensuring a coordinated response to evolving threats.

Risk 58

Risk Financial Crimes AML Risk Management 58

Fintech Finance

AUGUST 2, 2024

ComplyTek introduces an advanced transaction screening solution for instant payments , designed to ensure compliance and mitigate fraud within the critical 10-second processing window. Key Benefits: Proactive Risk Monitoring : Enhanced efficiency through automation and reduced false positives with advanced algorithms.

Instant Payments 93

Instant Payments Transactions Payment APIs and Integration Compliance 93

The Fintech Times

AUGUST 28, 2024

EURI will be available on the Ethereum as well as the BNB Smart Chain blockchains and subject to transaction monitoring and risk assessments for fraud identification and general risk mitigation.

Stablecoins 79

Stablecoins Multi-Currency Risk Mitigation Risk Assessment 79

Seon

MARCH 20, 2024

Digital footprint monitoring plays a crucial role in identifying and mitigating such schemes, enabling a proactive approach to fraud prevention. 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

Finovate

OCTOBER 8, 2024

The second benefit is lower risk. Plaid’s risk assessment results in fewer returns for recurring payments. Plaid estimates that payments made directly from the consumer’s bank account offer a 40% lower processing cost when compared to credit card payments.

Non-Bank 59

Non-Bank Risk Assessment Processors Returns 59

Clearly Payments

JANUARY 8, 2024

In this guide, we go into the topics of risk management in payment processing, equipping merchants with the knowledge and strategies needed to secure their transactions. Identifying and Assessing Risks Understanding the lay of the land is the first step in effective risk management.

Risk Management 66

Risk Management Risk PCI DSS Process 66

Fintech Review

FEBRUARY 13, 2024

Consumer protection in the digital age isn’t just about enforcing rules; it’s about understanding the evolving risks and being proactive in mitigating them. Regulators play a key role in assessing and mitigating the systemic risks posed by fintech innovations.

Consumer Protection 105

Consumer Protection Innovation Consumer FinTech 105

Nanonets

SEPTEMBER 22, 2023

Effective  vendor management  contributes to cost optimization,  risk mitigation , and quality assurance. Evaluating potential suppliers through a rigorous qualification process can help mitigate risks and ensure that they align with the business objectives and values.

Risk Mitigation 40

Risk Mitigation Mitigation Risk Assessment Assessments 40

Neopay

MARCH 4, 2024

Therefore, prioritising compliance, risk management, and ethical conduct is essential to mitigate the risk of regulatory scrutiny.

Compliance 52

Compliance Mitigation Risk Mitigation Regulatory Compliance 52

Third Party Payment Processors Association

NOVEMBER 16, 2020

Risk-based indicates that the company has performed a risk assessment. Risk assessment is the exercise of identifying specific risks related to an endeavor and then determining what kind of actions will be taken to “control” or mitigate the risk. taking the risk.)

Risk 40

Risk Risk Assessment Assessments Mitigation 40

Fi911

DECEMBER 19, 2023

As integral players in the payment ecosystem, banks must focus on chargeback prevention and mitigation. ML employs computational statistics and mathematical models to establish normal user behavior and enhance predictive accuracy. This, in turn, is helping enhance the customer experience and reduce administrative burdens.

Fraud Prevention 92

Fraud Prevention Fraud Detection Point-of-Sale (POS) Online and Mobile Banking 92

The Fintech Times

JULY 16, 2024

With the new solution launched by Moody’s, risks, alerts and assessments can all be conducted using tech. It offers an enhanced capability to quickly perform a stress test on their portfolios and identify potential risk exposures. ” How would it work?

Risk Assessment 52

Risk Assessment Assessments Risk On-Demand 52